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Planning permission granted on my Grand Design

 
Old 09-23-2018, 12:43 AM
  #121  
 
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Where did the photos go ?
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Old 09-23-2018, 03:26 AM
  #122  
 
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Hi Chippo,

I think you need to update your address in the user details!

Indeed, Gov't boondoggles and the plethora of new estates have benefited the new-build Big Boys at the expense of the 'used' market everywhere, it seems.
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Old 09-24-2018, 07:58 AM
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House prices are in interesting one. I don't know rural south east but I know friends and family who have sold in the s.w and n.w who have not made a penny after 10 or so years and its taken 6-12 months for properties to sell. Certainly in London vast swathes are down over the last 2 years. For London there are many reasons, rules meaning by to let is no long practical and I know a few people who are selling for this reason. A lot of bankers are earning less than half they what they were a decade a ago and a lot more aren't even in banking anymore. A lot of investment banks and hedge funds are moving people out of London so corporate lawyers are earning less. A lot of wealthy Europeans aren't coming over either. I guess this will have a knock in out lying areas in the higher value bracket. Will someone move out of London if they can only get £2mil for their pad in Chelsea when the one they want to move to in Petworth is £1.75mil.?

Also as Gad said, the sheer cost of moving prevents a lot of mid tier folk moving, I could add 750 sq ft to my house for about the same as it'd cost in stamp duty just to buy a bigger place, and I'd probably, even now, make at least double what the work would cost. I do think London will at best stagnate but more probably drift south for the next few years. My old 2 bed, 1000 sq ft conversion flat in Battersea which is hardly mega posh was at one stage worth about £750,000. You'd need a pretty good income even with 2 earning to buy it and that rules out a lot of 20 somethings... and 30 somethings are unlikely to want a 2 bed flat.
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Old 09-24-2018, 09:36 AM
  #124  
 
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The currently ridiculous London prices is possibly what may support prices in commuter towns. I can be stepping off the train at Victoria 50 minutes after shutting my front door (assuming the trains are actually running as they should - which is far from a given at the moment!). However if you put my house even in somewhere like Lewisham, it would be worth around double/trouble what it is in its current location. Interesting times.
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Old 09-24-2018, 10:01 AM
  #125  
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Originally Posted by Rapscallion View Post
House prices are in interesting one. I don't know rural south east but I know friends and family who have sold in the s.w and n.w who have not made a penny after 10 or so years and its taken 6-12 months for properties to sell. Certainly in London vast swathes are down over the last 2 years. For London there are many reasons, rules meaning by to let is no long practical and I know a few people who are selling for this reason. A lot of bankers are earning less than half they what they were a decade a ago and a lot more aren't even in banking anymore. A lot of investment banks and hedge funds are moving people out of London so corporate lawyers are earning less. A lot of wealthy Europeans aren't coming over either. I guess this will have a knock in out lying areas in the higher value bracket. Will someone move out of London if they can only get £2mil for their pad in Chelsea when the one they want to move to in Petworth is £1.75mil.?

Also as Gad said, the sheer cost of moving prevents a lot of mid tier folk moving, I could add 750 sq ft to my house for about the same as it'd cost in stamp duty just to buy a bigger place, and I'd probably, even now, make at least double what the work would cost. I do think London will at best stagnate but more probably drift south for the next few years. My old 2 bed, 1000 sq ft conversion flat in Battersea which is hardly mega posh was at one stage worth about £750,000. You'd need a pretty good income even with 2 earning to buy it and that rules out a lot of 20 somethings... and 30 somethings are unlikely to want a 2 bed flat.
The SE is different. Outside of hotspots in the SW (holiday home Cornish villages, Newquay, etc) I'm not remotely surprised there have no gains in the last decade. There aren't the jobs. The jobs are in the SE and it's likely to remain that way for the foreseeable. Other factors include the weather, which for died in the wool southerners more than offsets the quiet roads many northerners enjoy. I can see Chelsea V Petworth being difficult to call but the areas in real danger are places like Brixton. Brixton or Petworth? Let me think for a millisecond...

Plenty of cleverer people than me are still buying £2M plus houses all over the SE at the moment. A 10% drop wouldn't seriously hurt anyone who bought in most parts of the SE ten years ago who. Many of those people will be sitting on near 100% gains. Once the hysteria and propaganda over Brexit dies down, not a lot will change, but people putting their homes on the market need to position them at what homes are selling for now, not eighteen months ago, and if they look like a lot of hard work for no profit, they simply won't sell. I've always left my purchasers with something in it for them. I might not make as much as I might but I prefer cash now to cash maybe.
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