house prices

Conrad

Pete111 wrote: »

Freinds of mine bought their london place (Wimbledon) in April 2006 - 1.5 years off peak - for 500k.

In that time, they had it repainted internally, put in a new family bathroom, new front door and installed some nice blinds in the rooms the front. Total cost of improvements? less than 15k.

It's just gone under offer at 730k. Thats a 43% profit during a 'house price crash'.

Go figure.

Just been discussing this sort of thing in our morning meeting here. We have a client who paid £775k in June 2008 for a smallish house in a village near Chorley Wood (not far from Amersham) and now it's gone under offer for £947k and yet he's done little to it.

I wonder how the uber bears stocks n shares ISA's have performed over this period, and all the while that Jonathan bloke (financial planner of HPC fame) on Radio London telling us to stear well clear of property, what a chump:rotfl:

greggymagic

The_White_Horse wrote: »

i went to see a shoe box house (i didn't realise quite how small it was until I saw it for real) at the weekend. these people bought it for 360K in 2010 and want 430k for it now. they honestly believe that in two years of almost 0% rises, their tiny house has magically gone up 90k.

the real joke is that some moron will probably buy it. if you look at houses on the same road on Zoopla you can see they sold in 2011 for LESS than they paid in 2010 ie 340k ish. madness.

It's a really really bad joke but you know it will happen. We've been looking for a while as well in that bracket but everything we think is overpriced rubbish normally goes under offer shortly afterwards.

Who are these people that think 450K for a teeny tiny semi with no garden is value for money? ? ? Especially when the vendor bought it for 70k less a couple of years ago.....

People seem so willing to compromise and accept sh!te houses for top dollar.