Yanks Ask Has London Gone Mad ?

thequant

The garden is overflowing with weeds and trash is riotously strewn across the lower floors.Upstairs, a makeshift curtain dangles by a string while an assortment of shelves and cupboards clutter the untidy space below.
Not quite what you'd expect from a $1.1 million (£650,000) property -- but that's the price sought by the overseas owners of a house in London that until recently was the domain of illegal squatters.
The three-bedroom home came on to the market in the Peckham area of the British capital last week and is described by estate agents as "spacious" and an "exciting opportunity" for potential buyers despite the obvious need for "modernization."

http://edition.cnn.com/2014/07/06/business/london-property-peckham-1-1-million/

PasturesNew

On RM http://www.rightmove.co.uk/property-for-sale/property-31029672.html

DaveTheMus

Asylum Road......sounds about right.

AndyGuil

I tend not to let cosmetic issues get in the way when I view a place. I would be surprised if they even had an effect on value. A cleanup can't hurt though...

mystic_trev

Not another thread on London prices! I think we all know they've gone mad.If I were the OP ( who appears to have bought their first home only a few months ago) I'd be a bit concerned.London prices are looking a bit 'toppy' at the moment.

I wonder if we'll get threads asking 'how much has the value of your property dropped this month' if prices go into decline?;)

princeofpounds

Asylum Road......sounds about right.

You couldn't make it up.

Actually if you work near London bridge it's a really handy spot.

IronWolf

Not surprised, in the US $1.1m could buy you an enormous place. Even in New York it would buy a much better place than that.

Generali

You can live on 5th Avenue for the same money!!!

http://www.realtor.com/realestateandhomes-detail/69-5Th-Ave-Apt-14F_New-York_NY_10003_M44753-23572?row=1

michaels

Generali wrote: »

If you can make it past the gangs to get to the station.

Peckham is a dump.

When I lived in New Cross Peckham borders the gangs weren't normally around at commuting time in the morning...as long as the police had removed their tape from the night before all was good.

Generali

michaels wrote: »

When I lived in New Cross Peckham borders the ganfgs weren't normally around at commuting time in the morning...as long as the police had removed ther tape from the night befrore all was good.

LOL.

The problem is running the gauntlet on the way home.

I lived in one neighbourhood, a very white area of Lewisham, which used to have an annual mini-riot every Easter Monday. Why? Because da yout' (or whatever they call themselves these days) had been on it for 4 days straight and couldn't handle any more drugs or alcohol. The final month or so that I lived there, they decided to chase someone out of the neighbourhood because he supposedly had AIDS.

I was sitting in the local pub watching this rubbish unfold and told one of the parents that if the person concerned really did have AIDS, punching his bloodied face was probably unwise. At that point the mob decided that breaking in to the glass recycling bin in order to throw bottles at the local shops was more fun.

AndyGuil

I doubt you would get better in New York. If you take New York average figures for the state then yes, focus in on the city and you need a couple million dollars to get anything remotely close this.