End of the World

Sierra Charlie

War Hero
Look at this dump: £300K

Check out this property for sale on Rightmove!

It's in Harlesden, one of the worst parts of London for crime. For that money where I live I could get a brand new house with at least 6 bedrooms & 3 bathrooms and a large garage and garden.


This is the kind out house you can buy round where I live:

Check out this property for sale on Rightmove!

I wonder how much that would cost in London?
But it's people who put up the price, probably for the postcode
 
3 bed Victorian terrace up north£85,k,and nicer people

Wholeheartedly concur sir, We moved out of the E11 area of east london in 88, the house we bought for £19.5k in 83, and sold for £59k in 88, is now selling for £500K. HTF is this real? That row of 3 bed terraced houses were built in 1895, they have a 14ft frontage, a postage stamp size garden, from the front gate to the front door is about 8Ft, just enough space for the multi dustbins needed. when we lived there, I found out the original building cost in 1895, was £254.

That part of E11 has hundreds of such terraced chicken coops houses, as does the rest of Leytonstone, and neighbouring forest gate. The 4 bed detached house, with massive garden, and parking for 6 motors, and an internal garage, we now have up here 135 miles north of the smoke, in london would be about £1.5+m, up here £250K, Who decides that what is essentially a pile of Victorian bricks, that requires constant occasional maintenance and up-grading, is worth so much, and how do 20+ something newly weds get their foot on the housing ladder, in what is the most basic of accommodation? Even renting at £1k+ PCM is unrealistic.

The landlords, estate agents,, mortgage companies, and land developers, need a lesson in basic economics, in relation to what can be afforded by ordinary working folk, and the true price in what is just a pile of bricks.
I know that my comments are very naïve, and somewhat off the mark, and other factors have to be considered, but the escalating price of property, has I think, been falsely inflated by greedy bankers, mortgage brokers, and buy to let greedy bastards carpet baggers.

If you can make the break, GTF out of london, we did, best thing we ever did......Be lucky!
 

Sierra Charlie

War Hero
Wholeheartedly concur sir, We moved out of the E11 area of east london in 88, the house we bought for £19.5k in 83, and sold for £59k in 88, is now selling for £500K. HTF is this real? That row of 3 bed terraced houses were built in 1895, they have a 14ft frontage, a postage stamp size garden, from the front gate to the front door is about 8Ft, just enough space for the multi dustbins needed. when we lived there, I found out the original building cost in 1895, was £254.

That part of E11 has hundreds of such terraced chicken coops houses, as does the rest of Leytonstone, and neighbouring forest gate. The 4 bed detached house, with massive garden, and parking for 6 motors, and an internal garage, we now have up here 135 miles north of the smoke, in london would be about £1.5+m, up here £250K, Who decides that what is essentially a pile of Victorian bricks, that requires constant occasional maintenance and up-grading, is worth so much, and how do 20+ something newly weds get their foot on the housing ladder, in what is the most basic of accommodation? Even renting at £1k+ PCM is unrealistic.

The landlords, estate agents,, mortgage companies, and land developers, need a lesson in basic economics, in relation to what can be afforded by ordinary working folk, and the true price in what is just a pile of bricks.
I know that my comments are very naïve, and somewhat off the mark, and other factors have to be considered, but the escalating price of property, has I think, been falsely inflated by greedy bankers, mortgage brokers, and buy to let greedy bastards carpet baggers.

If you can make the break, GTF out of london, we did, best thing we ever did......Be lucky!
My point exactly
 
Look at this dump: £300K

Check out this property for sale on Rightmove!

It's in Harlesden, one of the worst parts of London for crime. For that money where I live I could get a brand new house with at least 6 bedrooms & 3 bathrooms and a large garage and garden.


This is the kind out house you can buy round where I live:

Check out this property for sale on Rightmove!

I wonder how much that would cost in London?
Problem is wages.


I get a very very very good day rate here; literally twice the best i could get in NW England for comparable work.


Mathematically it makes sense to be here.
 
I live in a very very affluent of area of north London, have done all my life.
Council house, with a garden and garage. The rent is cheap by comparison but still in excess of £200.00 a week.
But you know that something is wrong when one of your neighbours is sizing up your garage and offering you £175.00 plus per month to sublet it so they can put the E Type in there.
 
I live in a very very affluent of area of north London, have done all my life.
Council house, with a garden and garage. The rent is cheap by comparison but still in excess of £200.00 a week.
But you know that something is wrong when one of your neighbours is sizing up your garage and offering you £175.00 plus per month to sublet it so they can put the E Type in there.

Indeed....

Tell them £600 cash.
 
BBC News has announced this lunchtime, that LONDON house prices have fallen.
Aside from this being the end of the world worthy of an OP on the national news, who Gives whatever, to whatever happens in Londonstanie.
So lucky readers, here’s an opportunity to express your despair/joy/boredom over a subject which affects less than 12% of the country as a whole.
Same thing has been happening here in Australia since the Chinese Government cracked down on money leaving China. The Liberals are screaming its the end of the world because keeping house prices high was the only economic thing they had going for them.

There's all these reports in the news about landlords offering a few months free rent and other bonuses to get people to rent their apartments. They don't seem to understand that people are desperate to buy rather than continue to rent. Thanks to negative gearing, we're not going to see a lot of houses/apartments up for sale anytime soon.

The funny thing is that people should be trying to sell apartments like crazy, due to the NSW State Liberals relaxation of building standards a few years back at the beginning of the housing boom which has seen newly built apartment blocks uninhabitable after a year or two due to the building falling apart.

Dunno any other country on earth where you can make money from keeping a property vacant and unused.

EDIT: A fourth apartment block in Sydney built in the last ten years has been abandoned

https://www.smh.com.au/national/it-s-a-joke-we-can-t-go-on-like-this-fourth-block-of-units-abandoned-in-sydney-20190718-p528l7.html
 
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Yep, point proved! It's much cheaper to move to an other area and take a lower paid job. Less traffic to contend with, less pollution, more money to spend and a better quality of life - without needing to worry so much about the crime levels. If you need to experience London - visit it, then get away from it. There's hardly any fields - open spaces, wildlife and its always grey and depressing looking. Just watch easterners for 5 minutes if you want to see how depressive Londoners are.

I lived in Stonebridge/Harlesden & worked in Wembley when I was younger - the best thing I ever did was move away from the shit hole.
If you think London has little amounts of green space (which actually it does) come to New York, comparable city in size and apart from the big f-off central park, f-k all around.
 
But you know that something is wrong when one of your neighbours is sizing up your garage and offering you £175.00 plus per month to sublet it so they can put the E Type in there.
Is "E Type" a euphemism for "extended family"?
 
Same thing has been happening here in Australia since the Chinese Government cracked down on money leaving China. The Liberals are screaming its the end of the world because keeping house prices high was the only economic thing they had going for them.

There's all these reports in the news about landlords offering a few months free rent and other bonuses to get people to rent their apartments. They don't seem to understand that people are desperate to buy rather than continue to rent. Thanks to negative gearing, we're not going to see a lot of houses/apartments up for sale anytime soon.

The funny thing is that people should be trying to sell apartments like crazy, due to the NSW State Liberals relaxation of building standards a few years back at the beginning of the housing boom which has seen newly built apartment blocks uninhabitable after a year or two due to the building falling apart.

Dunno any other country on earth where you can make money from keeping a property vacant and unused.
They are still buying and investing in droves in South Australia, apartment blocks in the City all Chinese owned, buying large houses in expensive suburbs, as an investment? and being left vacant for years.
 

Ex_crab

Old-Salt
Some years ago, my sister bought a place in E11, paid £70K. Some time later she and her then partner bought a place in East Ham, He left and she bought him out, rented it, and moved back to E11. Last year she sold the E11 place for £700k!!! and moved to the East Ham house. She plans on living there a year, selling up, and moving somewhere where you don't get black soot every time you blow your nose.
 
If you think London has little amounts of green space (which actually it does) come to New York, comparable city in size and apart from the big f-off central park, f-k all around.

Good point; much as i dislike being away from family all week, grudgingly i admit that the Southern softies have a great city.

Lots of parks, really good transport, a high proportion of smokin' hot women, still a few pubs left.... it's drawbacks start with housing and end there, pretty much, unless you have a strong opinion about-shall we say- "cultural issues".
 
Easy.


The buyers.

Wrong, the buyers want it at the cheapest price, its the sellers, with the connivance of the estate agents, who get a percentage of the asking price, who fix the selling price, the higher the price, the more those greedy vultures receive in their selling fee, coupled with the overhype of the local areas facility's, transport links, schools and access into the city centre. What the seller is selling is a lifestyle, linked to the areas reputation and its all important postcode, the house is secondary, its the expectations of moving up the social ladder, in essence, ego and social class that dertimens the house price.

I started my early life in Hackney, in 1950, then it was a lower working class area,, houses were of Victorian and Edwardian stock, cheap as chips, now, £1-2M for what was originally a working class family house. The area has become a magnet for the weak willed, and social climbing hipster and "Look at Me living in my posh house in hackney" Set.

The estate agents, their designated solicitors and the sellers play on the idiocy of the concept of social climbing, to ramp up the price of what is just a pile of old bricks. If you are shallow enough to fall for the hype, good luck, you will pay through the nose to keep up with the Joneses, more fool you.
 
Is it still possible to buy a freehold property in London or are people paying exorbitant prices to borrow a house?
 

oppoStu

War Hero
Wrong, the buyers want it at the cheapest price, its the sellers, with the connivance of the estate agents, who get a percentage of the asking price, who fix the selling price, the higher the price, the more those greedy vultures receive in their selling fee, coupled with the overhype of the local areas facility's, transport links, schools and access into the city centre. What the seller is selling is a lifestyle, linked to the areas reputation and its all important postcode, the house is secondary, its the expectations of moving up the social ladder, in essence, ego and social class that dertimens the house price.

I started my early life in Hackney, in 1950, then it was a lower working class area,, houses were of Victorian and Edwardian stock, cheap as chips, now, £1-2M for what was originally a working class family house. The area has become a magnet for the weak willed, and social climbing hipster and "Look at Me living in my posh house in hackney" Set.

The estate agents, their designated solicitors and the sellers play on the idiocy of the concept of social climbing, to ramp up the price of what is just a pile of old bricks. If you are shallow enough to fall for the hype, good luck, you will pay through the nose to keep up with the Joneses, more fool you.
The valuation of properties is performed by professionals that work within estate agent companies (aren't the estate agents themselves) and are based on various factors like you said.

BUT ultimately, the property is worth what the BUYER pays and the seller accepts.

e.g. Property A is valued at £1,000,000 by estate agent. BUYER wants to pay £950,000, the seller accepts the deal. The property is now worth £950,000 until it is revalued by the new owner. That's how it works in accountancy.
 

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