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

[passivejoe]

http://www.rightmove.co.uk/property-for-sale/property-46306184.html

Not exactly in perfect condition... and a very weird shaped garden...and just 2 beds with a bathroom in the kitchen for £775k.

 

[boohoo]

http://www.rightmove.co.uk/property-for-sale/property-46306184.html

Not exactly in perfect condition... and a very weird shaped garden...and just 2 beds with a bathroom in the kitchen for £775k.

The floor size is fairly big. However still shocks me that a two-bed in Brixton can go for this cash.

 

[Winot]

Price per square foot leanderman?

 

[Rushy]

Price per square foot leanderman?

About £800 if you exclude the basement. Even cheaper if you include it. Bargain!
Highish stair and corridor / living space ratio though.

 

[leanderman]

About £800 if you exclude the basement. Even cheaper if you include it. Bargain!
Highish stair and corridor / living space ratio though.

Another property, right next to the cashment school, sneakily without a sales board:

http://www.zoopla.co.uk/for-sale/details/32852314?featured=1&utm_content=featured_listing

£1.4million. Around £780/sqft

 

[ddraig]

that is a nice looking place
wtf is going on in pic 14?
is it 2 rooms with a hatch and curtains? or a big bay window with small windows?

 

[teuchter]

It's the little projecting window you can see above the front door in the first photo.

 

[ddraig]

thanks that makes sense

 

[leanderman]

that is a nice looking place
wtf is going on in pic 14?
is it 2 rooms with a hatch and curtains? or a big bay window with small windows?

Owned by a newspaper executive I think. Probably moving on for school reasons - again!

 

[Manter]

http://www.rightmove.co.uk/property-for-sale/property-46306184.html

Not exactly in perfect condition... and a very weird shaped garden...and just 2 beds with a bathroom in the kitchen for £775k.

I think that's really horrible. Can't put my finger on why, precisely, but I really, really don't like it

 

[equationgirl]

Lovely house, shame about the nauseating description.

 

[Manter]

Another property, right next to the cashment school, sneakily without a sales board:

http://www.zoopla.co.uk/for-sale/details/32852314?featured=1&utm_content=featured_listing

£1.4million. Around £780/sqft

I like that. However, the thing that made me snort about the listing was all the artistic close ups….

 

[equationgirl]

I like that. However, the thing that made me snort about the listing was all the artistic close ups….

Padding if ever I saw it, especially the LCC engraved into stone (which was then pounced upon as a USP). It's 3 letters in a bit of stone!

 

[Manter]

Padding if ever I saw it, especially the LCC engraved into stone (which was then pounced upon as a USP). It's 3 letters in a bit of stone!

I reckon that photographer is padding his portfolio on the estate agent's time

 

[leanderman]

I reckon that photographer is padding his portfolio on the estate agent's time

Strongly suspect the pictures are taken by the owner, newspaper (photo) executive.

 

[Rushy]

Strongly suspect the pictures are taken by the owner, newspaper (photo) executive.

Wooster & Stock like to be a bit artsy though.

 

[sparkybird]

I think that's really horrible. Can't put my finger on why, precisely, but I really, really don't like it

I think it's pine overload - not just the floors (which I don't mind) but the kitchen, beds, cupboards etc etc

 

[Manter]

I think it's pine overload - not just the floors (which I don't mind) but the kitchen, beds, cupboards etc etc

I think it's also the bedroom opening onto the garden. Dunno. Horrid though

 

[sleaterkinney]

I really don't understand how people can afford some of these.

 

[leanderman]

I really don't understand how people can afford some of these.

That's the mystery.

 

[sleaterkinney]

That's the mystery.

That two bedroomed flat, say you had 10% deposit, that still comes to over a 100k with stamp duty, then you have to find 4k a month repayments. Nuts.

 

[leanderman]

That two bedroomed flat, say you had 10% deposit, that still comes to over a 100k with stamp duty, then you have to find 4k a month repayments. Nuts.

Exactly - and before rates rise.

Also, you would need a household income of something like £200,000 to get a bank to lend to you.

So these deals must be backed up by massive deposits - and very few people - or their parents - can have that sort of cash lying around.

 

[Smick]

Exactly - and before rates rise.

Also, you would need a household income of something like £200,000 to get a bank to lend to you.

So these deals must be backed up by massive deposits - and very few people - or their parents - can have that sort of cash lying around.

Surely people earning that sort of money don't want to live in two bed flats.

Would the rental income cover a mortgage?

People must just be buying them with hope of capital appreciation.

 

[Chilavert]

I've just put my flat on the market and I felt obliged, on behalf of this thread, to get the place valued by Foxtons.

The agent was truly everything I'd expected and more; arrogant, didn't listen to a word I said and then gave me a hugely inflated valuation.

Needless to say I declined to employ him to sell my flat.

 

[Boudicca]

Another property, right next to the cashment school, sneakily without a sales board:

http://www.zoopla.co.uk/for-sale/details/32852314?featured=1&utm_content=featured_listing

£1.4million. Around £780/sqft

I told my estate agent I didn't want a sales board as I didn't want to feature on leanderman's hit list.

 

[leanderman]

Surely people earning that sort of money don't want to live in two bed flats.

Would the rental income cover a mortgage?

People must just be buying them with hope of capital appreciation.

Exactly. Even two or three years ago, these flats would have worked for first-time buyers.

No more

 

[equationgirl]

Surely people earning that sort of money don't want to live in two bed flats.

Would the rental income cover a mortgage?

People must just be buying them with hope of capital appreciation.

I did a quick run-through on a bank's mortgage calculator

For an annual salary of £200k, assuming a deposit of £175k, with one person applying for the mortgage (fixed over 25 years) the repayments work out as £3020 per month. Max allowable borrowing was £600k (3 x salary). Take that down to a £75k deposit and the monthly repayment goes up to £4252.

So unless you have a sizeable deposit (and I mean big enough to buy a reasonable place in Glasgow outright in cash), it's going to be tough to do even on a large salary. Just shows how ridiculous the housing market has become.

 

[teuchter]

If you already own in london though, and hence have somewhere to sell at equally inflated prices, then the sums are rather different. There's your large deposit.

 

[Winot]

You could always move to Japan. I was talking to an associate yesterday in Osaka who was shocked at London house prices. He had bought a plot of land for US$230,000 in 2001 and built a house for $200,000.

Since then, through some weird Japanese depreciation of houses and falling land prices, the whole thing is worth less than $200,000.

Mind you, he has a three hour round commute into Osaka, and it'd be even longer to London.

 

[Smick]

If you already own in london though, and hence have somewhere to sell at equally inflated prices, then the sums are rather different. There's your large deposit.

Quite a limited pool of people who have somewhere already but want to trade up to a two bed flat.

Maybe there are a lot of older people in the £1.7m houses whose kids have left so they are going smaller and pocketing the remainder.