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London flats valuing at 2016 prices


Axeman123
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Standard stuff.

This will be most acute in new builds in 2016-ish

For instance, what is the difference between this: https://www.rightmove.co.uk/properties/71749053#/?channel=RES_BUY

and this? https://www.rightmove.co.uk/properties/109972118#/?channel=RES_BUY

£100k difference in the same development, just one wants to sell, the other does not.

Some of these things did actually sell for £450k+.... there are loads of listings around this region (where people want to recoup their price).

But what's gonna happen when the £360k one sells? It's gonna be hard for the valuation not to factor it in as it is the most comparable, so anyone needing a £450k valuation is quite likely to get knocked back.

 

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After my visit there this week, id not live there is the price of housing was at 1996 levels. Its a 3rd world cesspit.

Id like to see a wall built round the place, and to ban any cunt living there from coming to the rest of England.

 

 

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18 minutes ago, Boon said:

Standard stuff.

This will be most acute in new builds in 2016-ish

For instance, what is the difference between this: https://www.rightmove.co.uk/properties/71749053#/?channel=RES_BUY

and this? https://www.rightmove.co.uk/properties/109972118#/?channel=RES_BUY

£100k difference in the same development, just one wants to sell, the other does not.

Some of these things did actually sell for £450k+.... there are loads of listings around this region (where people want to recoup their price).

But what's gonna happen when the £360k one sells? It's gonna be hard for the valuation not to factor it in as it is the most comparable, so anyone needing a £450k valuation is quite likely to get knocked back.

 

Its the oddest shaped lounge in history, that wastes the small amount of floor space .... the only people buying shite like this are foreigner money hiders and landlords.

I went to Croydon about 7 years ago and its the fucken pits, makes Seven Sisters where i was this week look somewhat chic!

image.png.d773413df38d122a56bdca14a75373a6.png

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19 minutes ago, Hancock said:

Its the oddest shaped lounge in history, that wastes the small amount of floor space .... the only people buying shite like this are foreigner money hiders and landlords.

I went to Croydon about 7 years ago and its the fucken pits, makes Seven Sisters where i was this week look somewhat chic!

image.png.d773413df38d122a56bdca14a75373a6.png

Ground rent £350 pa

Service charge £4400 pa

CT Band E £2308 pa

 

That's £7k out the door before you've even turned on the dehumidifier in the kitchen.

Edited by Joxer
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15 minutes ago, Joxer said:

Ground rent £350 pa

Service charge £4400 pa

CT Band E £2308 pa

 

That's £7k out the door before you've even turned on the dehumidifier in the kitchen.

And the service charge and CT are bound to go up year after year too.

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10 minutes ago, Joxer said:

Ground rent £350 pa

Service charge £4400 pa

CT Band E £2308 pa

 

That's £7k out the door before you've even turned on the dehumidifier in the kitchen.

No need for the dehumidifier, as if you look at the pictures you'll notice it has patio doors which is just what one needs on the 23rd floor!

All part of the "carefully designed, stylish interior".

I do hope that service charge goes up with RPI.

 

 

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London's been falling for a good 6 years.

These are lazy arse valuations.

If the pushed for a sale they'd be down even more.

I'm unsure the degree that covid is going go hammer London- other than a lot.

Add in London voting Labour, who dont look likely to win fir 10 years. And the Cons chasing northern votes by shift tge vast oer head spend- and Londons soen was much higher than the rest- and it's going to be dire.

Just a bunch of 3rd workers in bennies.

 

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3 hours ago, spygirl said:

London's been falling for a good 6 years.

But you can't really talk about "London" as a single entity. Prime Central might have been falling, and some of the less fashionable bits of the west, but go and look at nice bits of zones 2 to 4, or pretty much anywhere in east London. Some of those places haven't been falling for 6 months, let alone 6 years.

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8 hours ago, AWW said:

But you can't really talk about "London" as a single entity. Prime Central might have been falling, and some of the less fashionable bits of the west, but go and look at nice bits of zones 2 to 4, or pretty much anywhere in east London. Some of those places haven't been falling for 6 months, let alone 6 years.

I dont think prime has been falling.

But then prime is sub 5% of housing.

The other 95% has, with maybe a pass for some of the more upwardly middle classy areas - til covid.

 

 

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Castlevania
15 minutes ago, spygirl said:

I dont think prime has been falling.

But then prime is sub 5% of housing.

The other 95% has, with maybe a pass for some of the more upwardly middle classy areas - til covid.

 

 

Prime Central London peaked in 2013.

The likes of Fulham, Clapham etc that the middle class yuppies like peaked in 2014.

Most of inner (Zone 1 & 2) London had peaked by 2016.

The outer parts were still going up until Covid hit.

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31 minutes ago, Castlevania said:

Prime Central London peaked in 2013.

The likes of Fulham, Clapham etc that the middle class yuppies like peaked in 2014.

Most of inner (Zone 1 & 2) London had peaked by 2016.

The outer parts were still going up until Covid hit.

I dont really  follow London.

There was a time inthe mid 90s when I thought I might buy and live there - if I had Id have long sold up and pissed back North ...

However, I went elsewhere , London pries went mental and, and worked my life  around not lliving in London.

Adn  thats the problem London has - the people it needs have moved elsewhere. Lodnon is now 3rd worlders and Labour voters.

Its fucked as a pleasant place to live as the the globs of cash that Londoners got on transport and public spending are going elsewhere.

Its going to go back to the shit hole it as pre early 80s, before finsec took off.

 

 

 

 

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19 minutes ago, spygirl said:

Adn  thats the problem London has - the people it needs have moved elsewhere. Lodnon is now 3rd worlders and Labour voters.

Its fucked as a pleasant place to live as the the globs of cash that Londoners got on transport and public spending are going elsewhere.

Its going to go back to the shit hole it as pre early 80s, before finsec took off.

Again, depends where. London is huge. It's not going to turn into Detroit. I don't think you appreciate how far even places like Tottenham and Stratford have come in the last 5-10 years. I wouldn't want to live in such areas myself, but there's been enough gentrification, young middle class relocation and Boho immigration that they're simply not going to end up back in the state they were in the 80s. A correction in house prices might actually be good for these places - more people who live in them will have a stake.

And London no longer needs money spending on transport, as the opening of Crossrail and the fact that the vast majority of City workers are going to be on 3 day weeks means there's plenty of capacity.

I get it, some people just hate London and want to see it burn. But it's not going to happen. We're not Germany. There aren't 5 or 6 equivalent cities in the country. Where are all these Londoners going to flee to? Birmingham? Manchester? I don't think so.

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21 minutes ago, AWW said:

Again, depends where. London is huge. It's not going to turn into Detroit. I don't think you appreciate how far even places like Tottenham and Stratford have come in the last 5-10 years. I wouldn't want to live in such areas myself, but there's been enough gentrification, young middle class relocation and Boho immigration that they're simply not going to end up back in the state they were in the 80s. A correction in house prices might actually be good for these places - more people who live in them will have a stake.

And London no longer needs money spending on transport, as the opening of Crossrail and the fact that the vast majority of City workers are going to be on 3 day weeks means there's plenty of capacity.

I get it, some people just hate London and want to see it burn. But it's not going to happen. We're not Germany. There aren't 5 or 6 equivalent cities in the country. Where are all these Londoners going to flee to? Birmingham? Manchester? I don't think so.

Oh, I have a good grasp of London.

Tottenham and Stratford are going to back to worse areas then they were.

Crossrail is not paid for. The cost is being levied on travellers and local business rates. I have a feelign this will turn out to be the most gormless ideas going.

In terms of travel, the new investment capital for crossrail are once in a few decades stuff. The major cost with transport, esp,. in London, is running costs - labours etc. This is where London is going to get hammered.

Londons economy was based on cheap, regular heavily  subbed public transport.

Remove 30%-50% of commuters on a daily basis - the whole lot collapses.

Remove the large public sub for London transport - it becomes a lot more expensive.

Do both whilst theres another option (home working via computers) and its baked in.

The less money subbed to LT, the shittier itll get. The shittier it gets the more people will work from home. The more people work from home, the less Pret, tube drivers, etc etc are needed.

 

 

 

 

 

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Bobthebuilder
22 minutes ago, AWW said:

I get it, some people just hate London and want to see it burn.

I like living in London, don't think it deserves the kicking it gets on here sometimes. Most people I hang about with are old school born and bred or Jamaicans / Polish that have settled here. Find places like Bournemouth far more rude and shite TBO.

Places like Dalston are still mega expensive, saw a town house in Dalston recently at £2.8 million. Other areas that have boomed due to things like crossrail are down by quite some margin compared to say 5 years ago, houses that had a 4 in front now have a 3 in the asking price. The same will be coming to a shire near you soon.

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Bobthebuilder

@spygirl Its a lot better at the moment since the convid boloxs. Less people, cars etc, I hope it stays this way and all the recently departed stay in the SW.

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But you don't have a good grasp of London, spygirl.

The money that was being spent on lunch and coffee in the City (and commuting) is now being spent on lunch and coffee in the suburbs, which are booming. This decentralisation of spending is positive for the areas you claim are going to end up being worse than they've ever been.

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25 minutes ago, Bobthebuilder said:

I like living in London, don't think it deserves the kicking it gets on here sometimes. Most people I hang about with are old school born and bred or Jamaicans / Polish that have settled here. Find places like Bournemouth far more rude and shite TBO.

Places like Dalston are still mega expensive, saw a town house in Dalston recently at £2.8 million. Other areas that have boomed due to things like crossrail are down by quite some margin compared to say 5 years ago, houses that had a 4 in front now have a 3 in the asking price. The same will be coming to a shire near you soon.

I dont think London/Bmouth are entirely disconnected.

In fact, places like Bmouth are the dumping ground for people aged 45+ from London.

Again, the things that make London good/liveable rely on vast scale and vast subs

Once the numbers, money and subs scale back then itll become awful.

 

 

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1 minute ago, AWW said:

But you don't have a good grasp of London, spygirl.

The money that was being spent on lunch and coffee in the City (and commuting) is now being spent on lunch and coffee in the suburbs, which are booming. This decentralisation of spending is positive for the areas you claim are going to end up being worse than they've ever been.

Ive not seen numbers of how far typical  London commute is

Anecdotally, people on 100k plus tend to commute in from 20 miles plus.

People on 200k+ tend to live in nice areas in London.

Once the 100k, who drive the bulk of London, find they only have to go in 1 or 2 days, then the pull of these suburbs - larger, cheaper houses away from scum, will kick and they'll move out further - 100m+

 

 

 

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Axeman123
37 minutes ago, spygirl said:

Oh, I have a good grasp of London.

Tottenham and Stratford are going to back to worse areas then they were.

Crossrail is not paid for. The cost is being levied on travellers and local business rates. I have a feelign this will turn out to be the most gormless ideas going.

In terms of travel, the new investment capital for crossrail are once in a few decades stuff. The major cost with transport, esp,. in London, is running costs - labours etc. This is where London is going to get hammered.

Londons economy was based on cheap, regular heavily  subbed public transport.

Remove 30%-50% of commuters on a daily basis - the whole lot collapses.

Remove the large public sub for London transport - it becomes a lot more expensive.

Do both whilst theres another option (home working via computers) and its baked in.

The less money subbed to LT, the shittier itll get. The shittier it gets the more people will work from home. The more people work from home, the less Pret, tube drivers, etc etc are needed.

I can imagine as fewer people use the tube, it would become more threatening. Vast pedestrian areas of the network are only really policed by the crowds that constantly flow through them, and would soon turn into a gauntlet. It would be easy to forsee anyone that could avoid it doing so, and a death spiral into New-York-subway-in-the-1970s levels of crime emerging. Perhaps a later day gaurdian angels vigilante group may emerge to confront this, though probably under the banner of the crescent moon. Also cost cutting would see aggresive reductions in numbers of services and numbers of carraige per service, paradoxically making each carraige far more crowded.

Who would live in outer zones without the tube? People with jobs there, or people on benefits. Picture non-central london as a seaside town.

Edited by Axeman123
with to without
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Bobthebuilder
4 minutes ago, spygirl said:

Ive not seen numbers of how far typical  London commute is

Anecdotally, people on 100k plus tend to commute in from 20 miles plus.

People on 200k+ tend to live in nice areas in London.

Once the 100k, who drive the bulk of London, find they only have to go in 1 or 2 days, then the pull of these suburbs - larger, cheaper houses away from scum, will kick and they'll move out further - 100m+

 

 

 

Already happened I think, and not just those on £100k.

I was down in Dorset this summer looking for somewhere to spread my old mans ashes, we were looking for somewhere quiet as not totally legal, etc. My brother in law is Dorset born and bred, cycles everywhere and he know it like the back of his hand. "I know the perfect spot" he says, and off we drive. Pull into the spot and it was crammed with wild swimmers and kayaks in brand new VWT5s. I joked to my brother in law that London was empty and you seem to have them all down here ruining your un spoilt countryside. He was not happy, you could hear the cogs spinning in his head, one side happy with his house going up in value as the area becomes more desirable, then realizing its the Londoners he hates that are taking over.

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The exodus from London to the shires has been completely overdone in the media though. London is 9m people officially, doubtless many more who are not on the books. It doesn't take many of those 9m to leave for it to look like an exodus in places like Dorset (few hundred k?).

Anecdotally, I know one family who moved out of London to north Norfolk during Covid. Now his firm wants him back in the office, but if course the commute isn't feasible even three days a week. He started looking for other jobs but - guess what - fully remote jobs don't pay London wages. The idea of leaving London to live on the coast, maybe going in once a week if that, and still earning a City wage, was just another pandemic fantasy. It's not going to work like that as things get back to normal.

London & SE will still correct anyway.

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Castlevania
2 hours ago, AWW said:

The exodus from London to the shires has been completely overdone in the media though. London is 9m people officially, doubtless many more who are not on the books. It doesn't take many of those 9m to leave for it to look like an exodus in places like Dorset (few hundred k?).

Anecdotally, I know one family who moved out of London to north Norfolk during Covid. Now his firm wants him back in the office, but if course the commute isn't feasible even three days a week. He started looking for other jobs but - guess what - fully remote jobs don't pay London wages. The idea of leaving London to live on the coast, maybe going in once a week if that, and still earning a City wage, was just another pandemic fantasy. It's not going to work like that as things get back to normal.

London & SE will still correct anyway.

I think a lot of the Covid exodus was people in their twenties and thirties living in flatshares. It’s very easy to give notice, move back in with your parents and save all that rent money. Most of those will return if they need to be in the office.

That’s not to say that a number of people did move further away from London with the plan for it to be permanent.

Edited by Castlevania
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6 hours ago, Bobthebuilder said:

I like living in London, don't think it deserves the kicking it gets on here sometimes. Most people I hang about with are old school born and bred or Jamaicans / Polish that have settled here. Find places like Bournemouth far more rude and shite TBO.

If London was a good place to live for the ordinary working family, then there wouldn't have been a mass exodus over the last 30/40 years. The fact indigenous Londoners don't want to live there speaks volumes.

But imho all of England is shite, just London financially rapes the rest of the country to prosper, hence why it gets the extra kicking.

Edited by Hancock
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Bobthebuilder
2 hours ago, Castlevania said:

I think a lot of the Covid exodus was people in their twenties and thirties living in flatshares. It’s very easy to give notice, move back in with your parents and save all that rent money. Most of those will return if they need to be in the office.

That’s not to say that a number of people did move further away from London with the plan for it to be permanent.

I lost a lot of long standing customers from London during lockdown. Mostly young couples with small children, bringing forward a future planned move earlier.

Had a few mates sell up and relocate, one went to County Durham from Croydon.

Also noticed a shift in people moving to different London areas for cheaper housing, most notably North to South. In my area it has gone from EE to middle class bearded folk with lockdown hair and posh cars.

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