Housing markets horror implosion terror carnage in SE22

[snorky]

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

[macroban]

A very good time is coming if you are a cash purchaser - but not yet.

[snorky]

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

[macroban]

I should mention that cash buyers at auctions are holding back - check the properties remaining unsold - in the expectation of lower prices.

[Brendan]

If I remember correctly that house has been on sale for almost 2 years.

[HonaloochieB]

Liking the headline Snorky, that little used Daily Mail/George A Romero influence is a joy.

[snorky]

I am wasted as a cap twisting, forelock tugging wage slave lackey

[HonaloochieB]

Cap? Forelock? Bloody spoiled rotten the lackeys of today.

[snorky]

Brendan Wrote:

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> 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

[TJS]

So, just to get it straight, the texaco garage has been/currently being sold?

[snorky]

An application has been submitted apparently - is is a speculative punt or not ?

[TJS]

I see, as currently there is nothing on the planningapplications register....damn shame that petrol garage is quite handy..

[snorky]

TJS Wrote:

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> I see, as currently there is nothing on the

> planningapplications register....damn shame that

> petrol garage is quite handy..

..its had a bit of bad press of late tho'

[TJS]

what with the c.card scams etc....treu. Either way, the space could be better used, and some flats would make sense.

[Big Jim]

How about putting an M&S Simply Food in there? Or maybe a drive through kebab/curry/foie gras place?

[seanmlow]

Yes - how about some more key worker flats?

[Alan Dale]

removed

[TJS]

M&S food would be awinner.....only just pip the current selctions the garage offers.

[seanmlow]

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!

[Asset]

that garage may be handy but is the most expensive one for miles

[HonaloochieB]

seanmlow Wrote:

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> 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.

[Jeremy]

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.

[wilbur]

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.

[snoozequeen1]

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....

[ibilly99]

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.