What Quarter of a Million gets you in London

Generali

setmefree2 wrote: »

I don't know most of the areas in the OP. East Sheen is pretty posh I think and you can get a studio flat there for £250k (the 3rd property). I'm actually amazed you can find anything in Sheen for that price.

Rightmove lists 4 flats under £250k in East Sheen.

4 flats! The housing crisis is over.:D

Graham_Devon

Scary stuff happened this morning, someone from the tories actually admitted that while HTB usage has been low in London, the sentiment it pumped into the housing market, in the sense that it will not be allowed to fail is unprecedented.

wotsthat

setmefree2 wrote: »

I don't know most of the areas in the OP. East Sheen is pretty posh I think and you can get a studio flat there for £250k (the 3rd property). I'm actually amazed you can find anything in Sheen for that price.

£250k for a studio flat! Got to admit I look on with bemusement at the London threads and how these prices are seen as normal or good value.

For £25k more my in-laws have just bought a 4 bed house with garage on a 1/2 acre plot of mature gardens and fruit trees in Cornwall.

I really can't see anything other than, at least, a moderation of prices in London. Eventually employers will decide that paying large salaries just so their employees can afford pokey flats is an exercise in futility.

The planning departments must be busy as builders initiate a supply response.

setmefree2

wotsthat wrote: »

£250k for a studio flat!

You're right - this might be better value?

http://www.rightmove.co.uk/property-for-sale/property-29577351.html

More central location?

For £25k more my in-laws have just bought a 4 bed house with garage on a 1/2 acre plot of mature gardens and fruit trees in Cornwall.

Sounds lovely. Is it near the beach?

wotsthat

Graham_Devon wrote: »

Scary stuff happened this morning, someone from the tories actually admitted that while HTB usage has been low in London, the sentiment it pumped into the housing market, in the sense that it will not be allowed to fail is unprecedented.

Your Tory is likely vastly over-estimating the sentiment associated with HTB.

There will be about 1.5m property transactions this year. A tiny proportion will be HTB.

HTB has a negligible effect on London prices either practically or psychologically.

What you have to ask yourself is that if there's a big increase in sentiment from HTB why is HPI more moderate in areas with a bigger take up? There's an inverse relationship.

SailorSam

Maybe if i were younger i could see the attraction of a 24hr cosmopolitan city, but as so many posters have pointed out lots of the jobs available in London are not well paid. Doesn't that mean much of that exciting life is beyond the means of many.
I'm in a big 3bed house worth about £210k, but i only need to walk less than a mile to find new build 2bed flats for less than half that. I accept finding work is not so easy in this part of the world as it may be in London, but we can afford to take a lot less when you see the price of housing in the Capital.

setmefree2

London is not the only city experiencing Foreign Inward Investment

Foreign demand is making Sydney’s housing problem worse

Last year median house prices in Sydney rose by 15%, and in some suburbs by up to 27%. Cash pouring in from foreign investors is one of the drivers of this change

http://www.theguardian.com/commentisfree/2014/feb/18/wealthy-chinese-buyers-are-making-sydneys-housing-problem-worse

Graham_Devon

setmefree2 wrote: »

You're right - this might be better value?

http://www.rightmove.co.uk/property-for-sale/property-29577351.html

More central location?

It's about the size of a travelodge room! And I'm being very generous there, as even Travelodge rooms have more space than that.

Not selling this well. It would suit as a crash pad for someone working in London in the week, but that's about it.

You could hardly live in it comfortably as a couple.

Graham_Devon

wotsthat wrote: »

Your Tory is likely vastly over-estimating the sentiment associated with HTB.

There will be about 1.5m property transactions this year. A tiny proportion will be HTB.

HTB has a negligible effect on London prices either practically or psychologically.

What you have to ask yourself is that if there's a big increase in sentiment from HTB why is HPI more moderate in areas with a bigger take up? There's an inverse relationship.

Maybe.

But there will be no way to measure the sentiment. So you just need to take a view really.

The only thing we do know is that as soon as HTB was announced, house prices took off.

Coincidence? Up to each of us to decide, as there's no way to measure it.

mayonnaise

wotsthat wrote: »

What you have to ask yourself is that if there's a big increase in sentiment from HTB why is HPI more moderate in areas with a bigger take up? There's an inverse relationship.

I wonder if you'll ever get an answer to that.:)