Trying to buy a house in this area is near impossible

[Whittler]

Otta, if you're a fan of ale, and if you don't already know about Late Knights (Penge based brewery) check them out. They occasionally hold events at the lovely Alexandra Nurseries http://www.alexandranurseries.co.uk/late-knight-21st-december/ - goods things happening in your new home patch.

[Jeremy]

There's a great chippy near the Homebase, their chicken sandwich is one of the dirtiest things I've ever eaten.

[Otta]

Excellent, I look forward to trying one.

Strae, jokes aside I suspect you're spot on!

Just rechecked mortgage and it's actually 5.190% we're paying. "Help" to buy certainly comes with a price.

[Twirly]

Congratulations Otta, hope you'll be very happy there.

[Crissy]

strae Wrote:

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

> Otta Wrote:

> --------------------------------------------------

> -----

> > Just had to the call to say I've completed on

> our

> > flat in Penge. So I am now the proud owner of a

> > whopping 7% of a property. And whilst it may

> not

> > be the home I always dreamt of buying (actually

> > I've never really dreamt about buying a home),

> I

> > do feel very fortunate to be in this position.

> >

> > And I'm a 10 minute walk from McDonald's! ;-)

>

> I look forward to the inevitable article touting

> Penge as the new hot spot!

> Shortly followed by the also likely inevitable

> post about on these forums about how Penge is just

> not quite what it was!

>

> Jokes aside, congratulations and well done!

Penge had a mention in the Standard about 4 weeks ago.

Otta congrats and check out Virtual Norwood Local news forum website - there's a lot going on in Penge

[ratty]

Congrats moosh!

[DaveR]

Kind of back on topic, and on the subject of Inner London vs Outer London, I saw this on the BBC website:

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/counties/html/county39.stm

and was surprised at (i) how expensive Southwark is and (ii) how stark the difference between inner and outer boroughs is. Basically, the whole of the southern and eastern/north eastern suburbs are massively cheaper than almost anywhere in inner London.

[Hickory]

Seriously. This.

http://www.rightmove.co.uk/property-for-sale/property-29180898.html

[Sue]

Hickory Wrote:

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

> Seriously. This.

> http://www.rightmove.co.uk/property-for-sale/prope

> rty-29180898.html

xxxxxx

A quite small three bed terrace in Ulverscroft Road which until very recently was two flats owned by a housing association was thoroughly ripped out and poncified recently and put on the market for ?825k. Yes, that's ?825k.

It's been sold, but I have no idea whether the developers got their asking price.

"Previously listed for sale on 19th Jan 2014 for ?825,000

3 bedroom terraced house

Property history of 30 Ulverscroft Road, London SE22 9HG

Vincent Chandler is delighted to offer to the market this three bedroomed and highly attractive house in the heart of East Dulwich. Having recently been refurbished to an extremely high standard, this Victorian property has a pleasant blend of ... blah blah blah."

http://www.zoopla.co.uk/property/30-ulverscroft-road/london/se22-9hg/21181449

ETA: Oh, and they ripped out all the garden and plants and put in some hard landscaping stuff.

That'll be good for wildlife and prevention of flooding then.

[Voyageur]

Crissy Wrote:

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

> strae Wrote:

> --------------------------------------------------

> -----

> > Otta Wrote:

> >

> --------------------------------------------------

>

> > -----

> > > Just had to the call to say I've completed on

> > our

> > > flat in Penge. So I am now the proud owner of

> a

> > > whopping 7% of a property. And whilst it may

> > not

> > > be the home I always dreamt of buying

> (actually

> > > I've never really dreamt about buying a

> home),

> > I

> > > do feel very fortunate to be in this

> position.

> > >

> > > And I'm a 10 minute walk from McDonald's! ;-)

> >

> > I look forward to the inevitable article

> touting

> > Penge as the new hot spot!

> > Shortly followed by the also likely inevitable

> > post about on these forums about how Penge is

> just

> > not quite what it was!

> >

> > Jokes aside, congratulations and well done!

>

>

> Penge had a mention in the Standard about 4 weeks

> ago.

>

> Otta congrats and check out Virtual Norwood Local

> news forum website - there's a lot going on in

> Penge

Virtual Norwood is a bit quiet these days. Crystal Palace Life forum is a better bet - it covers Penge too http://crystalpalacelife.com/index.php/kunena/index

[Jeremy]

Hickory - it wont sell for that. The price would be about the going rate of it was in top condition. As it is, its about 100K off the mark.

[Grotty]

Hickory Wrote:

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

> Seriously. This.

> http://www.rightmove.co.uk/property-for-sale/prope

> rty-29180898.html

Hickory we looked at this - needs about ?100,000 spent on it before its even liveable in. For a very small 3-bed on a busy section of Bellenden Road right next to the trainline its bonkers.

[BB100]

GinaG3 Wrote:

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

> We cant even do that. I've checked everything.

> Based on income we could only get a loan of 42,000

> maximum. That would mean buying at 62,000 or part

> buying, even then its more than we can afford with

> shared ownership.

I wouldn't recommend shared-ownership - it's a con. The only people who benefit are the Housing Associations. Someone told me that before I bought my shared-ownership 20 years ago and I didn't listen but they were right.

[Cyclemonkey]

My gosh that Bellenden Road house is ridiculously priced - it's currently uninhabitable. I would imagine the market would be serious property investors who will drive a hard bargain with the owners.

BB100 i disagree about Shared Ownership, i just think it has been poorly marketed. I have had friends who have used it as a means to get somewhere. Those who have been most happy are those who have seen it as a way to get long term security of tenure - eg regard it almost as council housing. It will not help you "get on the property ladder" in any real sense.

[strae]

http://www.rightmove.co.uk/property-for-sale/property-40772164.html?premiumA=true

1 bedroom flat in Battersea - a snip at ?830k.

Relative to this, ED is not even on the radar...

[Mick Mac]

strae Wrote:

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

> http://www.rightmove.co.uk/property-for-sale/prope

> rty-40772164.html?premiumA=true

>

> 1 bedroom flat in Battersea - a snip at ?830k.

> Relative to this, ED is not even on the radar...

Exactly - anything west of here is much more expensive.

[red devil]

Battersea/Nine Elms is a property uber hotspot at the moment with the new US Embassy and Battersea Power Station redevelopment...

[Mick Mac]

Albion Riverside was always high.

[red devil]

True, prime riverside apartments have always carried a premium, but the area as a whole including less desirable addresses has gone bananas...

[Mick Mac]

The sold out first phase of Battersea Power Station are trading hands at quite a premium and they wont even be ready for a few years.

[ratty]

Anyone for Catford?

[HOMum]

Ratty - I am not sure if that was a joke?! But it's definitely looking like a reality for us!

[Otta]

Catford is okay, nice in parts, not so nice in other parts.

[Jeremy]

Yeah I reckon Catford seems perfectly OK... you won't find the type of bars/cafes/junk shops/etc that you get along LL, but a couple of good pubs, and the journey into London Bridge is about the same time as ED.

[Otta]

And there's a giant evil cat, what's not to love.