Yanks Ask Has London Gone Mad ?

Generali

setmefree2 wrote: »

I guess people just get into mad bidding wars and start pushing the prices up? The Estate Agents can't have suddenly decided to raise prices by 25%???

Last time, people were panicking: they realised that if prices continued to rise at ~2%/month they would be priced out of the market in 6/12/18 months. Better to pay an extra 5% today than an extra 15% in 6 months time. Of course, that's just fuel to the fire.

There is nothing short of mandating the price that each house can sell for that the Government can do about this. It's the madness of the mob that's driving prices skywards. Ignore it and it will go away soon.

Generali

setmefree2 wrote: »

Bit like where my sister lives in Florida. The houses look swish but are actually made of ticky tack. The value, as you say, is in the land they sit on.

'Brick' houses over here are generally a wooden/steel frame with a brick wall built in front of it. Actually, I think British new builds (built since about 1990) are made in the same way which will be an interesting development in the UK's housing market.

I don't have a problem with it personally: why would I want to buy a house that will outlive me? As a Pom I also understand that it seems a bit odd to the British mindset.

lisyloo

If I stayed in Travelodges all week it would take a very determined effort not to get fat(ter). Most people also don't like eating out all the time and yearn for home cooked food. It would be more realistic to compare with appartments.

Fwiw we've been paying about £65 for Travelodges/days inn if you're willing to search out the best prices. Economy studios ( read broom cupboard) are about £90 -£100 if you want something central with a good landlord.

PasturesNew

wotsthat wrote: »

£650k - seems a bit steep.

I had a drive past this place at the weekend and had a nosey over the wall.

I'd buy this and stay at Travelodge's in the week.

http://www.rightmove.co.uk/property-for-sale/property-30616419.html

It'll be appropriate as housing land soon; a new village alongside that's still up in the air, kicking around, been kicked out ..... so for anybody who thinks they'll live 50 years it'd be a "good investment" if you wanted to flog off some small corners for development.

He's selling up quick while it's all quiet on the "new village" front.... as he doesn't want the building work, nor the hoi polloi turning up shopping next door if/when it finally becomes a new out of town shopping centre.

setmefree2

PasturesNew wrote: »

It'll be appropriate as housing land soon; a new village alongside that's still up in the air, kicking around, been kicked out ..... so for anybody who thinks they'll live 50 years it'd be a "good investment" if you wanted to flog off some small corners for development.

He's selling up quick while it's all quiet on the "new village" front.... as he doesn't want the building work, nor the hoi polloi turning up shopping next door if/when it finally becomes a new out of town shopping centre.

Surely there's more than 4 bedrooms in that house? I guess it is only part of the building? The bit to the left in the first picture? And to the right in the 2nd? The bit with the conservatory attached? And really Barn conversion???? More like brick outhouse conversion????

ruggedtoast

AndyGuil wrote: »

Distance wise Peckham would be on the border of Manhattan..just. I'm sure the dining room in the terrace could be converted to another room. I'm 100% certain I could dig out some 1/2 bed flats next to Kings Cross/Euston that would be cheaper.

Have you ever been to Manhattan, or Peckham?

If Peckham has an equivalent in NYC it would be Queens.

AndyGuil

ruggedtoast wrote: »

Have you ever been to Manhattan, or Peckham?

If Peckham has an equivalent in NYC it would be Queens.

Yes and yes. It really depends where you draw the circle. If you pick an area towards Queens it would be on the border with Manhattan.

JamesSmith2000

mystic_trev wrote: »

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?;)

As mad as it seems, there are still some on here who think they will go even higher before the long awaited correction comes.

princeofpounds

I'd buy this and stay at Travelodge's in the week.

How much does that actually cost when you start to negotiate a long-term deal for regular occupation? Is it ever practical?

AndyGuil

PWC- London average price to hit £500k next year. http://www.cityam.com/1404868931/average-london-house-price-hit-500k-next-year