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Is it easy to sell a house in East Dulwich?

lesalden

By lesalden
in General ED Issues / Gossip

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LondonMix

LondonMix

Posted
Posted

I don?t necessarily disagree that extensions can cost much more but the cost is as much a function of size as it is of quality. That house on Crystal Palace Rd linked to added at most 120sft (I know what they look like unextended).


Excluding the cost of the k!tchen, lighting and flooring, I am pretty sure they didn?t spend more than 60k on that ground floor extension.


? The rough costing for ground floor extension building work is 1,800 psm for the basic build so in their case roughly 22k including VAT including electrics, plumbing, and decorating

? Add to that a max of 8k for the bifold doors and velux windows

? They probably did under floor heating?2k

? They probably added in the ground floor loo as part of the work- 2k

? They probably need a new boiler for the increased size of the house- 3k (max)

? Garden work- 5k

? If they used an architect to project manage as well as draw up the plans-- 5k

? Planning fees, measurement surveys, build over agreements with Thames Water, engineering drawings, building control fees and partywall agreements?6k

? Contingency of 10% - 5k

? Total cost circa 58k

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*Bob*

*Bob*

Posted
Posted

Not disagreeing on any any of those costs as such, LM


However I'm sure you'll agree you couldn't do the two for much *less* than 110. That makes 110 a 'starting price'. The cost of up-spec'ing and associated knock-on costs and in turn - vat - is somewhat exponential.


Hence 'could we just do this or that a bit nicer' suddenly costs a helluva lot more.

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LondonMix

LondonMix

Posted
Posted

Sorry, I was always talking about their spec-- ie the houses I liked to.


My house was a two storey ground and first floor extension with a double loft conversion and a total gut refurb. I've talked about it before on the forum. Not to say it was higher spec but just a different amount of work.

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Henry_17

Henry_17

Posted
Posted

Blackcurrant,


Exceptional contribution in the article from Ms. MaMohan - whose title is head of research - in which she informs us that a greater than 40% annualised decline equates to stabilisation, and in which she confirms that once we reach two consecutive quarters of the same direction we can establish a trend.


Henry

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Earl Aelfheah

Earl Aelfheah

Posted
Posted

Blackcurrant Wrote:

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

> ?1million+ houses in London now down in value by

> 20% according to the Telegraph:

>

> www.telegraph.co.uk/finance/newsbysector/construct

> ionandproperty/11177312/High-end-London-house-pric

> es-being-slashed.html


sounds about right to me. most of the houses which were getting (at least close to) 1 million in the spring are now selling for 800 ish, maybe 850.

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*Bob*

*Bob*

Posted
Posted

A point made earlier (I forget by whom) is pertinent: the additions/improvements done to so many houses round here have been quite low end.


A house with modest improvements at ?500k is an altogether different prospect to a house at ?1m with the same. When a potential buyer is spending the latter, you can bet they're prepared to pay considerably more for something better - and budget additions might even count against the price.


Of course owners are often blind to this. "But it's got four bedrooms! Where's my million quid?!"

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edwasj

edwasj

Posted
Posted

I'm an estate agent living locally, working in Clapham; and the market has definitely changed and now more than ever price is the most important factor in marketing your property.


The last 18 months have been great for us and it wasn't far off the reality that you could open a door, have 6 people view a place and get sealed bids with any property. The market is far more saturated with available options at the moment and this in turn has taken all of the flurry out the market. People can afford to be much more picky and don't have the fear of increasing prices pushing them into making a decision.


That said it's not all doom and gloom! We've been in a buoyant bubble for the last year or so and what we are coming into now is more consistent with a 'normal' market; if such a thing exists in London! There are plenty of people out there looking who are very serious about buying a property. In this sort of market if you are over priced you simply won't get the levels of interest as there will be better priced competitors appealing to applicants. Agents have a tendency of over valuing stock in order to get the business - it's hard when someone is promising to get you 'x' amount not to go with that agent but if the place next door, in near enough the same condition, sold for 200 grand less - think realistically!! Also don't get carried away with the prices achieved in the bubble - sealed bids do crazy things applicants and records prices were coming in. If you really want to sell think long and hard about price - this will be your main issue - not the time of year, market or dare I even say agent. Property sells throughout the year regardless of condition - it's always about price!!

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AbDabs

AbDabs

Posted
Posted
It seems that Foxtons knows that the best way to speed up the sale of a house is to make it reassuringly expensive. There is a house on Melbourne grove that was listed with another agent in January 14 at ?900K (reduced from an earlier price of ?960K), then in Oct 14 at ?925. Now with Foxtons at ......?1.1M. The photos make it plain that nothing has changed internally or externally. It's a three bed house.
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Mustard

Mustard

Posted
Posted

SebsC Wrote:

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

> Wow, 2 bed house on Silvester Road just been put

> on the market for ?1.2 million!! Crazy!

>

>

> http://www.zoopla.co.uk/for-sale/details/35897911?

> search_identifier=4f77c90daf70733cb3cc8550836a2354


That house has been with The Modern House agency since last September at a slightly higher price.

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