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http://www.auction.co.uk/data/bigimages/ar/mar2008/arbp30.jpg


this delightful little pomme de terre on the Vale de Grove sold for ?155K at auction last week


yes it next door to the famous Texaco station, but as we all know, there is a planning a[pplication to remove the reknowned ( on this MB anywy ) texaco gagage an build "Luxury manhattan style loft living etc " flats on the site


Affordable ED , if a litle grim for the short term future until the future of The Tex is determined


bludz

and theres the rub


if you have a bundle of cash and can move quick, you can get a BTL property that nearly ( just about ) makes sense , if current trends continue, will definately make sense


whereas if you are a mortgage buyer, you will be finding the offers of loans are getting harder and harder to find


House prices down, but no one will lend to you anyway


oh well

Brendan Wrote:

-------------------------------------------------------

> If I remember correctly that house has been on

> sale for almost 2 years.


Its a dump and I think it has rental victims in it already ( apologies if the residents are reading this ) but when the / if the Garage goes, it might not be too bad to live in

seanmlow Wrote:

-------------------------------------------------------

> Alan -

>

> Yeah they were building quite a few. The ones here

> are nice - I am glad no horrible flats have gone

> up.

>

> Get rid of Sommerfield and replace with M&S -

> prices are near enough the same anyway!


Don't be absurd. M&S don't have a daily gallery of cheapness to sell off the foodstuff they haven't shifted.

The Brixton branch did it for a while and it was triff, but they stopped it, presumably to give the scran away to no doubt deserving dossers and misfits. But anyway go into Somerfield after seven in the evening and the stuff is approx 25% of the retail price. Other galleries should be so cheap.

So that's the tacti. Forget about extending the congestion charge zone. Just keep developing flats on the sites of all petrol stations like they've been doing in recent years and you won't be able to buy fuel within the M25.


THEN YOU'LL HAVE TO GET ON PUBLIC TRANSPORT.

Jeremy Wrote:

-------------------------------------------------------

> I think M&S give away end-of-shelf-life stuff to

> employees. When I was younger my mum worked there

> for about 2 days, but managed to fill the freezer

> with enough food to last us weeks.


They still do that. But even after staff have taken what they want they often have loads of perfectly good stuff left and they just chuck it out. You can live very well for a week on the contents of a couple of M&S black bags that have just been placed outside the back door...perfectly intact and still chilled. The very wonderful headteacher of a quite local school once catered a fundraiser by doing this. I am not going to let on who it was. Same person used to save school funds by presenting bouquets at every leaving, birthday, whatever, recycled from the dump where the cemetery used to chuck them after 3 days. A sterling public servant. I daresay this is off topic but I'm just following on....

just had a chat with my spy in a South London estate agent - he is an assistant manager with recent experience of E. Dulwich and Streatham. He tells me prices keep going down a little every month and his firm now estimate them to be 12-13% below the 2007 peak. Buyers still in short supply and stock levels going up. He says BTL landlords are happy to offload at the moment as the price falls are peanuts compared to the amount of appreciation made over the last 5-10 years, so for many BTL vendors there is plenty of profit if they cash in now.


The fig of 12-13% sounds a lot. Perhaps it's a little distorted by EA spin - it could be the line they are using when talking to vendors to push valuations down.


Wait until winter at least is the advice if you're planning to buy. No sign of stabilization yet.

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