How Far Will House Prices Fall? [Volume 6]

[macron]

Such as what, out of interest?

[princeperch]

https://www.google.com/amp/s/amp.theguardian.com/b...

Probably for all the reasons in this article.

As an asides, I work for a central government department currently located on petty France in Westminster.

They are looking at moving from petty France to either a new office in canary wharf or the Olympic park in Stratford. I suspect they'll go for Stratford in the end because it's cheaper. The rents however in the wharf, do seem fairly competitive compared to the west end and the city.

[NomduJour]

The best thing about Canary Wharf is the Elizabeth Line out; best thing about Stratford is never having to go there in first place.

[Earthdweller]

The best thing about Stratford was always the Railway tavern otherwise known as the “early house”

Opened at 6am for all the night workers going home, many great memories there

[ooid]

A few of these commercial sales have also been making a massive impact.

https://www.cityam.com/12-storey-canary-wharf-towe...

Due to the location, I still think it is an opportunity area -imho-

[mwstewart]

Earthdweller said:

The best thing about Stratford was always the Railway tavern otherwise known as the “early house”

Opened at 6am for all the night workers going home, many great memories there

Agree with that. A real old fashioned boozer.

Would rather not be there at all, however

[mwstewart]

ooid said:

A few of these commercial sales have also been making a massive impact.

https://www.cityam.com/12-storey-canary-wharf-towe...

Due to the location, I still think it is an opportunity area -imho-

I really like the place. As a place to work it's just really convenient with all the the shops I want in close proximity. As to living - not my first choice.

[G-wiz]

Savage falls in London prices in 2023, apparently:

[ooid]

Fire Sale (117 properties for £5.6m)

http://www.investmentweek.co.uk/4174453

[Louis Balfour]

ooid said:

Fire Sale (117 properties for £5.6m)

http://www.investmentweek.co.uk/4174453

Would these have been ones where a strategic S.21 was on the cards, which would soon be prohibited if Gove is to be believed.

[ooid]

Louis Balfour said:

Would these have been ones where a strategic S.21 was on the cards, which would soon be prohibited if Gove is to be believed.

Probably. A few slum lords just sold these assets to them in massive values apparently and caught by short-sellers. Loads of drama happened last year with them.

[princeperch]

Saw my old flat is now showing at the land registry

I sold it in 2014. The people I sold it to spent about 20k on it, New bathroom, boiler, redec, new flooring etc.

Poor sods.

[okgo]

And yet still the housepricecrash loons are moaning about affordability of FTB places.

It is as good as it has been, or rather it was when that transacted, back on the way up now.

[princeperch]

Things still seem to be chugging along where i am

https://www.rightmove.co.uk/properties/146008088#/...

I laughed out loud when this went up for sale but i suspect the only person whos laughing now is the bloke who paid 42 grand for it in 1997 who is now the vendor

[okgo]

Still represents a fairly unique way of life in London and is near to an outstanding primary. A lot going for it. Same thing in other parts of zone 2/3 would be considerably more in other directions. I dare say it still looks quite cheap to have decent transport options and be surrounded by green and not be MILES out.

[Earthdweller]

princeperch said:

Things still seem to be chugging along where i am

https://www.rightmove.co.uk/properties/146008088#/...

I laughed out loud when this went up for sale but i suspect the only person whos laughing now is the bloke who paid 42 grand for it in 1997 who is now the vendor

That was insanely cheap for 97 tbf

[Mr Whippy]

Earthdweller said:

princeperch said:

Things still seem to be chugging along where i am

https://www.rightmove.co.uk/properties/146008088#/...

I laughed out loud when this went up for sale but i suspect the only person whos laughing now is the bloke who paid 42 grand for it in 1997 who is now the vendor

That was insanely cheap for 97 tbf

Only 10.2% inflation for 27 years.

Let’s hope it was their primary residence though.

[princeperch]

If i had to guess id have said its market value then would have been about 80 grand.

I think my rather more modest victorian terrace in Leytonstone was worth about 40 to 50k back in 96/97. I sold that 2 years ago for just over 700k.this Edwardian im Wanstead is worth something approaching double that.

Doesnt really matter either way i guess, the guy backed the right horse.

[Baroque attacks]

Earthdweller said:

princeperch said:

Things still seem to be chugging along where i am

https://www.rightmove.co.uk/properties/146008088#/...

I laughed out loud when this went up for sale but i suspect the only person whos laughing now is the bloke who paid 42 grand for it in 1997 who is now the vendor

That was insanely cheap for 97 tbf

Yup.

Less than half the norm on the road, less than a much smaller flat on the road too.

[Sheepshanks]

Earthdweller said:

princeperch said:

Things still seem to be chugging along where i am

https://www.rightmove.co.uk/properties/146008088#/...

I laughed out loud when this went up for sale but i suspect the only person whos laughing now is the bloke who paid 42 grand for it in 1997 who is now the vendor

That was insanely cheap for 97 tbf

It didn't sell easily this time - it was reduced in Feb - so the vendor may still be grumpy about the price.

I guess some transfer of assets has gone on - probably common in London. That house is no5. No3, which looks the same sort of house, sold a month later for £188K. No4, the other semi to no5 (the houses are consecutively numbered) was £212K in 2005 which also seems very low.