London market gone mad???????

sciencegeek

whambamboo wrote: »

Property in this country is just a joke, people falling over each other to live in horrid little boxes. What happened to quality of life, the Americans certainly wouldn't put up with it. A poxy terrace in Moss Side

http://www.rightmove.co.uk/viewdetails-5717393.rsp?pa_n=1&tr_t=buy

I would not move here if it was free!!, there are a couple of bold streets in moss side but if its the one i think it is it is smack bang in the middle of one of the most notorius gang estates in manchester. Maybe they could offer free bullet proof jackets as an incentive to prospective purchasers.

VioletBaudelaire

This is all quite scary. I was hoping to move this year (STILL waiting for lease extensions to be sorted out) but I'll be moving from Camden Town to a more central location (hopefully Bloomsbury) and the prices are insane.
There's no way I can "trade up" in size as it'll have to be another one bedroom flat and the ones I've been checking out on the internet are more than I can really afford. If so many people really are after every flat, I presume there'll be little chance of the vendor accepting an offer.
My friend who lives in Clerkenwell has just had her home valued for £1,850,000 and it's only a two bed flat!

pricedout_1

whambamboo wrote: »

It's not mad, it's insane. My friend is selling his 1-bed in Clapham, which TBH is a crime-ridden cesspit - it's not exactly Hampstead, although there are a few bars.

£190k 3.5 years ago. Now, £320k.

A third of a million quid for a poxy 1-bed flat in inner London.

For HALF that money you could get 3,000 square feet in Orlando

http://orlando.yahoo.idx.pruthepropertyplace.com/details.aspx?firstrecord=7&searchtype=2&propertytype=1%2c2&searchminprice=0&searchmaxprice=350000&searchbedrooms=-1&searchbathrooms=-1&sort=5&sortacdc=desc&miles=-1&searchgeo=Orlando%2c+FL

Property in this country is just a joke, people falling over each other to live in horrid little boxes. What happened to quality of life, the Americans certainly wouldn't put up with it.

I could not agree more.
That link was a bit of an eye opener to be honest.
I could have that 4 bedroom property in the Orange County for half the price of an overpriced flat in london which would probably have a small bedroom or a kitchen stuffed into the side of the front room. :mad:

I live near Lime Grove and know the area very well. Shepherds Bush Green is still a crime ridden hole. You do see more community police officers around now which is probably a reaction to the teenager that was murdered in nearby Hammersmith Grove by the growing problem of gangs in the area.
(Ditto Clapham and other parts of London)
Things may improve with the new development in White City but that is a long long way off. There is one good pub/bar on Shepherds Bush Green but other than that its full of tramps, hoodies, and battered Antipedeans :beer:
The only area that has plenty of half decent bars/pubs/restaurants you are looking at Hammersmith (nearer the river side not the broadway) and along the Chiswick High Road.

It is such a shame that so many people seem to be being taken to the cleaners by the market right now. The banks are as much to blame as anyone as well as the BoE for knee jerking the interest rates down to 40 year lows after 9/11, rather than keeping their wits about them. So now with inflationary pressures growing they are forced to continue raising rates. It's really starting to look a bit ominous isn't it .....

Guy_Montag

whambamboo wrote: »

It's not mad, it's insane. My friend is selling his 1-bed in Clapham, which TBH is a crime-ridden cesspit - it's not exactly Hampstead, although there are a few bars.

£190k 3.5 years ago. Now, £320k.

A third of a million quid for a poxy 1-bed flat in inner London.

For HALF that money you could get 3,000 square feet in Orlando

http://orlando.yahoo.idx.pruthepropertyplace.com/details.aspx?firstrecord=7&searchtype=2&propertytype=1%2c2&searchminprice=0&searchmaxprice=350000&searchbedrooms=-1&searchbathrooms=-1&sort=5&sortacdc=desc&miles=-1&searchgeo=Orlando%2c+FL

Property in this country is just a joke, people falling over each other to live in horrid little boxes. What happened to quality of life, the Americans certainly wouldn't put up with it. A poxy terrace in Moss Side

http://www.rightmove.co.uk/viewdetails-5717393.rsp?pa_n=1&tr_t=buy

or a 1900 sq ft detached in Denver, Colorado

http://yahoo.idx.prucolo.com/details.aspx?firstrecord=10&=&VIP=Yahoo!+IDX&searchminprice=0&searchmaxprice=200000&searchbedrooms=-1&searchbathrooms=-1&miles=-1&searchgeo=Denver%2c+CO&searchtype=2&propertytype=1%2c2&sort=5&sortacdc=desc

But, but, but...

property here isn't over valued, it's property in the rest of the world that's undervalued. :rolleyes:

Romani_Ite_Domum

Not everywhere. Londinium HPI and resulting media spin has helped push up prices in other areas but there is only so much debt the country can handle. Bl00dy Romans.

natwill_3

hughgallagher wrote: »

whambamboo wrote: »

It's not mad, it's insane. My friend is selling his 1-bed in Clapham, which TBH is a crime-ridden cesspit - it's not exactly Hampstead, although there are a few bars.

£190k 3.5 years ago. Now, £320k.

A third of a million quid for a poxy 1-bed flat in inner London.

For HALF that money you could get 3,000 square feet in Orlando

http://orlando.yahoo.idx.pruthepropertyplace.com/details.aspx?firstrecord=7&searchtype=2&propertytype=1%2c2&searchminprice=0&searchmaxprice=350000&searchbedrooms=-1&searchbathrooms=-1&sort=5&sortacdc=desc&miles=-1&searchgeo=Orlando%2c+FL

Property in this country is just a joke, people falling over each other to live in horrid little boxes. What happened to quality of life, the Americans certainly wouldn't put up with it.

I could not agree more.
That link was a bit of an eye opener to be honest.
I could have that 4 bedroom property in the Orange County for half the price of an overpriced flat in london which would probably have a small bedroom or a kitchen stuffed into the side of the front room. :mad:

I live near Lime Grove and know the area very well. Shepherds Bush Green is still a crime ridden hole. You do see more community police officers around now which is probably a reaction to the teenager that was murdered in nearby Hammersmith Grove by the growing problem of gangs in the area.
(Ditto Clapham and other parts of London)
Things may improve with the new development in White City but that is a long long way off. There is one good pub/bar on Shepherds Bush Green but other than that its full of tramps, hoodies, and battered Antipedeans :beer:
The only area that has plenty of half decent bars/pubs/restaurants you are looking at Hammersmith (nearer the river side not the broadway) and along the Chiswick High Road.

It is such a shame that so many people seem to be being taken to the cleaners by the market right now. The banks are as much to blame as anyone as well as the BoE for knee jerking the interest rates down to 40 year lows after 9/11, rather than keeping their wits about them. So now with inflationary pressures growing they are forced to continue raising rates. It's really starting to look a bit ominous isn't it .....

Orlando is seeming very attractive, I've been in W12 for about 7 years now, always thought I would trade up to West Ken, W14 but out of reach at the moment

Which part do you live in out of interest?

poochel

whambamboo wrote: »

It's not mad, it's insane. My friend is selling his 1-bed in Clapham, which TBH is a crime-ridden cesspit - it's not exactly Hampstead, although there are a few bars.
QUOTE]

AHEM!!!

I really have to take exception to this. I live in Clapham and it most certainly is not a crime-ridden cesspit. OK so there are a couple of big, rough council estates but they are mainly towards the Stockwell/Brixton end. Clapham Old Town, off High Street, towards Clapham Junction and the area around the commons is just lovely. Gorgeous victorian and Georgian houses, heaps of bars and really nice restaurants, shops ranging from supermarket to deli to boutiques, top transport links (both tube and BR).....sounds like hell to me!

Honestly, some people are never happy!

Conrad

In 2005 I wanted another investment property, this time in London. Myself and a freind (he is regional manager for a large EA) went on the hunt, however the market was in the doldrumns, nothing happening and very quiet so we didnt buy.

Point is it the market stalled very easily following the then 3 interest rate rises, so the current fizz could dissapear as quickly as it came.

Even now I continue to invest but however hard I try I cant now invest in the UK residential property (I did in early days of the UK boom but not now) - beleive me Ive tried - Ive even been to auctions. For me there is just too much risk and too little upside.

My main residence like yours has rocketed but for me this means nothing as wont want to ever downsize - so its just pretend money.

As they say 'buy low sell high'. I still see lazy investors buying in the UK and Spain but history shows such a herd following tactic is not smart. If it was that easy all the pension funds would just buy up Birmingham.