Trying to buy a house in this area is near impossible

[Ramble66]

Righty Wrote:

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> Hi all,

>

> In a more practical question - is the Blythe Hill

> area of SE6 and SE23 very nice at all? We are

> looking to move out of our beloved Nunhead for

> more space (at cheaper price)!

>

> Any views welcome (particularly on schools and

> whether the area has/will improve)!

>

> Thanks!

I think it's a good bet. At least I hope so. We're in the process of buying near there.

Good schools (holbeach, stillness, rathfern), good park (Blythe hill and waterway), 10-15min walk to HO, 20 to FH. Bus to Brockley, forest hill, east dulwich. Good transport (st pancras, blackfrairs, canon street, charing cross, London bridge), good housing stock, cheaper, good pubs (family friendly Blythe hill tavern, cool Catford Consitutional Club, Camden pub co have bought the catford bridge tavern).

I also think Catford will either get an extension of the overground (new cross branch) or the DLR. Possibly both.

We're really happy with the feel for the area.

[fizzmoll]

Not sure if this has been mentioned before, but this may also influence prices going forward in Catford: http://www.london.gov.uk/media/mayor-press-releases/2013/05/mayor-secures-transformation-of-catford-greyhound-stadium

[Loz]

Jeremy Wrote:

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> Loz Wrote:

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

> -----

> > ?385k would be more like it

>

> 3 years ago maybe. Much higher now...

Not for a two bed in SFE. I keep a eye on prices there, since I own one of them...

[ratty]

Sold mine for 380 just less than a year ago Loz!

[Jeremy]

Prices have gone up dramatically in the past year... that's basically 1 bed flat money these days. Would be very surprised indeed if one of those 2 bed houses wouldn't fetch over 450.

[joshR]

Given Victorian 2 beds in Honor Oak are selling for north of ?525K, would 2 bed new builds be any cheaper in ED. I'd imagine the price premium of the location trumps Victorian vs. New Build considerations when it comes to prices?

[Jeremy]

josh, the main point is that they are v small (700 sq ft?) so prices for these houses are roughly in line with good 2 bed flats.

[Sue]

Mustard Wrote:

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>

> according to that advert, Ulverscroft Rd is in

> SW22, and the floor plans shows 5 beds, some very

> small plus another dressing type room. Looks very

> top heavy for such a small garden.

xxxxxx

There was a house in Ulverscroft (which recently sold) which had been converted in a strange way to have so many bedrooms (or so I was told by an estate agent). Maybe it was that one. I think whoever bought it would have to spend money revising the layout, which is maybe why the asking price was relatively low.

However at least one other house in the road is getting a loft conversion with two bedrooms in addition to the existing three.

I agree it is a lot of bedrooms when the gardens are so tiny, particularly on the side with the odd-numbered houses.

[gm99]

Could I recommend this: http://www.theguardian.com/books/2014/mar/02/all-that-is-solid-review-house-prices-danny-dorling

[lane lover]

Good article; but it wont make any difference to the house prices in ED.

Anyone hoping for a property crash is barking up the wrong tree.

We have seen EM market money move West into safer havens - and with the Russia/Ukraine conflict, this will only increase capital flows to the West.

The property market of London is more akin to a bank for the worlds's rich. Not much we can do about that.

[gm99]

House prices (and rents) across London have risen rapidly - it's not just an ED problem. The use of UK housing as a reserve currency could easily be addressed by policy changes.

Incidentally, there was a very good programme about London on BBC2 at 9pm last night - called 'Mind the Gap' and presented by Evan Davis.

[Otta]

Yeah I watched that and thought it was well presented.

[*Bob*]

Yes, I caught that.

It was basically a giant, London-shaped middle finger aimed north, wasn't it?

I enjoyed it enormously.

[????]

Me too, exactly the same sentiment. Also a bit of a 'stroker' hand movement in the direction of our Scottish friend Alex S I thought.

[*Bob*]

Next week the tables are turned though.

Having tried his hand at the top of huge crane moving freight containers at London Gateway, Evan visits a business in Doncaster to try his hand at colouring-in greetings cards.

[sugarmouse]

A friend of mine sold a two bed house on the St Francis estate 18 months ago. It went on the market for ?375k (I think) and after a frenzied group viewing, went to sealed bids and they got offered ?390k. HOWEVER, when the surveyor came round to value it, he said it wasn't worth ?390k and that they wouldn't sanction a morgage on it. My friend had to drop the price back down to nearer the original asking price (I think they got ?380k in the end. If only more surveyors would put the brakes on like that, the market might not overheat quite so much.

BTW, my friend thought it was ridiculous and that people should be allowed to pay whatever they were prepared to off. Needless to say, I didn't agree. After all, there are so many people out there with ?200-300k equity, it's not fair that they can pay much, much higher than the rest who have only a normal sized deposit. I think we're heading to a situation where only people who got on the housing ladder before, say, 2007 can actually afford anything bigger than a shoe box due to the fact they've magically accrued so much equity...

[KidKruger]

But it's not the purchaser paying what they want unless they're paying cash (ie. their own money with no loan).

When you are borrowing and require the lender to take on the majority of the financial risk they will work to their own formula, cardboard houses just don't cut it with them perhaps.

[Blackcurrant]

Jeremy Wrote:

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> josh, the main point is that they are v small (700

> sq ft?) so prices for these houses are roughly in

> line with good 2 bed flats.

Yes they pretty much match 2 bed garden flats. One big difference is that you can easily extend them up and backwards, gaining about 40% floorspace, which has a big impact on value and rental yield.

[MrBen]

Went with my pal house hunting for a 4 bed terrace in East Dulwich last week to see the madness for myself. Apart from some undesirable main road options /distressed stock there are actually only three 4 bed terraces for sale in SE22 for under ?1M.

The tired one we looked at was on at ?750k, needed about ?100k of work and had signs of some structural movement. They had just one open day on Saturday and we were told we were the 48th people to visit it that day. Around 12 then made offers on Monday, highest of which was in excess of ?900k.

Looking at the desperate faces of others viewing it was a grim and depressing spectacle. The only one smiling was the agent.

Even if I wanted to buy now, I'd keep well out of the current shit fight and bide my time. Even if that meant moving out further.

[StraferJack]

I saw someone today describe the current scramble re London property as similar to the zombies assailing the wall in World War Z

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CC8QtwIwAA&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DbdXsrL2zSWU&ei=SykXU7bQIYWthQee74DgBw&usg=AFQjCNEzdy7BBRYXH1W5VBsW-yPfQ5fT4g

aye...

[????]

...you could always buy a place in Oz

ooops, hango on a minute...

http://www.bbc.co.uk/news/business-26445106

[StraferJack]

"The tired one we looked at was on at ?750k, needed about ?100k of work and had signs of some structural movement. They had just one open day on Saturday and we were told we were the 48th people to visit it that day. Around 12 then made offers on Monday, highest of which was in excess of ?900k."

yep - this is totally normal behaviour, definitely not a sign of a bubble about to burst messily

[MrBen]

Exactly.

And another classic symptom displayed during bubble behaviour?

Denial that a bubble is happening. Usually by those already heavily invested.

[StraferJack]

yup

The tone then changes from:

?there is no bubble?

To:

?ok so there is a bubble but is it necessarily a bad thing? And besides (cough) things are different this time ? the landing will be soft and not messy?

[red devil]

It's like 2007/8 never happened :)