Work starts on the eagerly awaited new Foxtons office on Brixton Road

[Manter]

Actually, I meant admitting being involved in politics. It's a bit like admitting you indulge in sordid sexual acts with a tube of toothpaste and a squeegee.

I thought plastic bags and oranges were traditional....

 

[ViolentPanda]

I thought plastic bags and oranges were traditional....

Bit passé since Milligan choked while choking his chicken, though.

 

[DietCokeGirl]

Here's a story about Foxtons: A couple I know decided it was time to think about renting a bigger flat. They viewed one about 5pm, decide to think about it overnight, called landlord the next morning to sign and he said it was no longer available, because a rep from Foxtons had told him they could rent it for 150 quid a week more than he was charging.

 

[CH1]

Noticed 11 Foxton's boards in Dalyell Road - most saying "Sold subject to contract" at the bottom.
At their typical asking price looks like a potential £100,000 commission (plus £20,000 to the VAT man) in just one street. Not bad for 3 months work at the Brixton office!
BTW did anyone note the article in the Standard yesterday about the "bidding frenzy" at a London auction this week?

 

[leanderman]

Noticed 11 Foxton's boards in Dalyell Road - most saying "Sold subject to contract" at the bottom.
At their typical asking price looks like a potential £100,000 commission (plus £20,000 to the VAT man) in just one street. Not bad for 3 months work at the Brixton office!
BTW did anyone note the article in the Standard yesterday about the "bidding frenzy" at a London auction this week?

yep. saw that but auction guides have been far too low for ages.

 

[CH1]

yep. saw that but auction guides have been far too low for ages.

I suppose auction guide prices work the opposite way round to Foxton's sale prices.
Low guide prices tempt the punters in - to recklessly out-bid each other.
Foxton's for sale prices panic people into buying/selling in case prices will go up more/drop back?

 

[Maurice Picarda]

Here's a story about Foxtons: A couple I know decided it was time to think about renting a bigger flat. They viewed one about 5pm, decide to think about it overnight, called landlord the next morning to sign and he said it was no longer available, because a rep from Foxtons had told him they could rent it for 150 quid a week more than he was charging.

I have difficulty in seeing how this story reflects badly on Foxtons.

 

[DietCokeGirl]

I have difficulty in seeing how this story reflects badly on Foxtons.

Clear case if them pushing up rents, encouraging landlords to charge more, a lot more.

 

[leanderman]

I suppose auction guide prices work the opposite way round to Foxton's sale prices.
Low guide prices tempt the punters in - to recklessly out-bid each other.
Foxton's for sale prices panic people into buying/selling in case prices will go up more/drop back?

Neighbour told me today that the Foxton's 0% thing and their carpetbombing is about trying to corner the supply of houses for sale so they are in a position to dictate (higher) prices.

They would expect to lose money in the first six months of opening an office. And then cash in later.

 

[Minnie_the_Minx]

They have had a Foxtons in Streatham for many years without people getting their knickers in a twist.

I pointed out ages ago how poncey it looked

 

[leanderman]

I pointed out ages ago how poncey it looked

I quite like the design of the Brixton office.

It's what they do to tenants and rents that is the scandal.

In terms of property sales alone, they are probably little worse than their rivals.

 

[cuppa tee]

Neighbour told me today that the Foxton's 0% thing and their carpetbombing is about trying to corner the supply of houses for sale so they are in a position to dictate (higher) prices.

They would expect to lose money in the first six months of opening an office. And then cash in later.

Being owned by a global financial group gives them the edge in this respect,

 

[Manter]

In terms of property sales alone, they are probably little worse than their rivals.

Recent experience suggests their business model involves stretching the rules and then stretching them a tiny bit more. And if they get caught... they'll shrug, and pay the fine, they'll have made enough money by pushing the envelope to that point they don't care a lot.

And interestingly, I can find the front pages of a couple of judgements I remember but all the links are broken....

 

[editor]

The Office Of Fair Trading have a whole page dedicated to Foxtons.
http://www.oft.gov.uk/OFTwork/consu...rcement-completed/foxtons/qandas#.UcdhhVxwp8F

 

[editor]

More here:

In his judgement, District Judge Parfitt noted that the Landlord has signed Foxtons standard terms and conditions in which one stand alone clause made reference to the charge but also noted that there were no other clauses that related to a service that Foxtons would provide in producing the tenancy agreement. The judge also preferred the Landlord's factual evidence that she was not informed of the charge prior to signing Foxtons standard agreement.

The Judge went on to say: “It seems to me that Foxtons were neither asked to, nor obliged to, provide a tenancy agreement...accordingly Foxtons had no right or entitlement to be able to charge the claimant in respect of a service which they had not been asked to provide, i.e. the provision of a tenancy agreement.” The judge also refused Foxton's application for permission to appeal.

http://www.sghmartineau.com/pressre...t-case-against-UK-estate-agency/#.UcdiFFxwp8E

 

[leanderman]

More here:

http://www.sghmartineau.com/pressre...t-case-against-UK-estate-agency/#.UcdiFFxwp8E

and now £499,000 for a two-bed flat. the world has gone mad.

http://www.zoopla.co.uk/for-sale/details/29447955?search_identifier=701012eac608167c1bb0ef348ae9cf66

 

[Belushi]

Yeah. nice flat but half a million pounds?!

 

[leanderman]

Yeah. nice flat but half a million pounds?!

It's astonishing.

I know the sellers pretty well: he's a government lawyer, they have a baby.

They are desperate to stay in Brixton but can't afford a bigger place and are moving out to Sydenham.

Even up to a year or so ago, such a family would have been able to move up the ladder around here. No more.

 

[gaijingirl]

It's astonishing.

I know the sellers pretty well: he's a government lawyer, they have a baby.

They are desperate to stay in Brixton but can't afford a bigger place and are moving out to Sydenham.

Even up to a year or so ago, such a family would have been able to move up the ladder around here. No more.

that's what happened to us over a year ago and a number of our friends who had their babies the same time as us - including friends on Leander Road. We searched for a good long time as well.

 

[nagapie]

that's what happened to us over a year ago and a number of our friends who had their babies the same time as us - including friends on Leander Road. We searched for a good long time as well.

My area still has houses that are cheaper than central Brixton. Although some chancer is trying to sell theirs for over a million, unlikely when most of the others are under half of that. Maybe it's Foxtons.

 

[gaijingirl]

My area still has houses that are cheaper than central Brixton. Although some chancer is trying to sell theirs for over a million, unlikely when most of the others are under half of that. Maybe it's Foxtons.

well as you know, we looked at many houses down your streets...

 

[nagapie]

well as you know, we looked at many houses down your streets...

But they're selling their Leander Rd flat for £500,000! Of course I don't know what they initially paid for it but if they've had it for more than 3 years it'll have gone up a lot. Maybe sizing up from a 2 bedroom flat with a garden to a 3 bedroom house with a garden is not enough space gain.

 

[leanderman]

The gap between a flat and a house has grown, even allowing for inflation. It was, say, £300k for a flat and £500k for a house. Now it's £500k and £800k. It's hard to imagine most people affording either.

 

[CH1]

The gap between a flat and a house has grown, even allowing for inflation. It was, say, £300k for a flat and £500k for a house. Now it's £500k and £800k. It's hard to imagine most people affording either.

Maybe they are anticipating the Mortgage Guarantee scheme which starts in January next year.
The Guardian 23rd March: "The new scheme will run for three years from January 2014 and will see the government give lenders who offer low-deposit mortgages the chance to buy a guarantee on the portion of the mortgage between 80% and 95%. That means that if a borrower gets into financial difficulty and their property is repossessed, the government will cover a chunk of the lender's losses."

 

[Winot]

The gap between a flat and a house has grown, even allowing for inflation. It was, say, £300k for a flat and £500k for a house. Now it's £500k and £800k. It's hard to imagine most people affording either.

I guess those are asking prices - it remains to be seen what the gap in sales prices are.

Our house was valued recently as I needed to remortgage for a business loan. The value according to the bank was probably 20% lower than the 'market asking price'.

 

[leanderman]

I guess those are asking prices - it remains to be seen what the gap in sales prices are.

Our house was valued recently as I needed to remortgage for a business loan. The value according to the bank was probably 20% lower than the 'market asking price'.

Yep. Same with us.

I doubt they will get £499,000.

But, an ex-colleague has just moved into an identical, tho' dilapidated, flat ten doors down from there, and she paid £460,000.

 

[leanderman]

Three days later: SOLD

 

[simonSW2]

Three days later: SOLD

Must have been close to asking price then. Jesus.

 

[shakespearegirl]

http://www.foxtons.co.uk/search?cen...word&search_type=SS&sold=1&submit_type=search

Mmm somewhat overpriced Foxtons, now dropped by £30k

 

[leanderman]

The madness continues: Two bedrooms, 900sq ft: £630,000!

http://www.zoopla.co.uk/for-sale/details/29618044?search_identifier=ec1c517d7a4c3a37f54277fa733dfd6f