Location, location, location

Old Nov 30th 2013, 5:35 pm
  #1936  
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Default Re: Location, location, location

Originally Posted by bigglesworth View Post
Not as confused as I was Pete!

No not homogenous. Stratford has moved so far so fast, just forget it. Leyton and Leytonstone following fast with East Ham and West Ham not far behind.
I was there - literally on the ground. Most properties are either tender, sealed bids or they have an offer price - say 275,000, but when you talk to the agent, they are looking for over 300. It was truly unreal. Some of course is people trying to tie up before Christmas, but a lot is the agents just gunning it. Plus of course the new CGT for overseas buyers is apparently persuading some to jump in early (I do NOT understand that one) and also Help to Buy is up and running in some places already. It was truly terrifying.

I don't think many people place much faith in Rightmove any more. The Land Registry has always been the slowest, but also (IMO) the most reliable.


Try Zoopla.
Just looked at Zoopla, again, and their prices are actually their own valuations moving year by year it seems, not the sold prices. Have never thought their valuations, which they send me all the time for what I own, have been really representative.

Rightmove sold prices for postcodes are apparently the actuals from the Land Registry, as per my previous.

Was told by a relative who lives in London just last week that the market is so crazy there is little point getting in as it is so inflated and out of all proportion, as potential buyers scramble over property that on the face of it is not really that wonderful and outbid each other and then the asking price by a long margin.

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Old Nov 30th 2013, 6:02 pm
  #1937  
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Default Re: Location, location, location

Zoopla valuations have always been cr*p. You need to look at the past sale prices and the new offer prices for similar properties down the street.

Bit confused now Pete, as you seemed to be saying Newham was flat and I was just trying to correct that.
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Old Nov 30th 2013, 6:15 pm
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Default Re: Location, location, location

Originally Posted by bigglesworth View Post
Zoopla valuations have always been cr*p. You need to look at the past sale prices and the new offer prices for similar properties down the street.

Bit confused now Pete, as you seemed to be saying Newham was flat and I was just trying to correct that.
I was saying that the Land Registry figures are saying that November 1, 2012 - October 31, 2013 SOLD figures for Newham are overall flat for the year.

BTW, Leyton (LBO Waltham Forest) is not in Newham - to be pedantic.

Moving this along for a moment, I noticed that in the US there are a large number of previously foreclosed properties that have been done-up and recently released back onto the market by investors who feel they have allowed the market to rise sufficiently to maximise gains before any potential downturn due to interest rate rises or whatever.

Presumably the value-added from such doing-ups (improvements) is taken as a price increase if the property is bought and sold in the same period. If you go into the postcodes on rightmove for Newham, you might see several properties which have been bought and sold in no time and though some may be taking advantage of casualty situations, others might not actually be true increases in pure value when there is actual value-added which incurred cost.

Last edited by Pistolpete2; Nov 30th 2013 at 6:25 pm. Reason: Moving this along for a moment,
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Old Nov 30th 2013, 6:33 pm
  #1939  
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Default Re: Location, location, location

Well, believe them if you want, pete. They are behind the times by several months.

If you look at sales prices realised in July and August and compare to offer prices now you will say a very substantial difference - usually 15 or 20 percent, but sometimes more.

Then ring the agents and ask what they think it will go for. Nine times out of ten they will tell you it is already gone and for more than the offer.

I know - my wife and daughter have just spent a month there looking, and I am there next week to look at what they bought. A bit behind the cosh as my daughter had already agreed the sale of her place - to a young (well, young to us - 30s) couple leaving Oz.
Plaistow has gone up, even Barking is going. It is reaching Ilford - prices about ten percent up.

And that is not in a year - that is in a few months. I hear what dunroving says (and no doubt at all that the agents are gunning it as hard as they can) and myself I cannot believe this pace of increase is sustainable, but it is not stopping yet.
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Old Jan 21st 2014, 12:08 pm
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Default Re: Location, location, location

Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!

I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).

http://www.mumsnet.com/

It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live I these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
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Old Jan 21st 2014, 12:19 pm
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Default Re: Location, location, location

Originally Posted by dunroving View Post
Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!

I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).

http://www.mumsnet.com/

It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live I these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
You're right Dunroving, Mumsnet does have insightful viewpoints about lots of areas. I've used it quite a bit. Also the Guardian series 'Let's move to...' Is a more lighthearted spin on house hunting but useful too, albeit with a Guardian slant if that's your thing.
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Old Jan 22nd 2014, 5:35 am
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Default Re: Location, location, location

Originally Posted by dunroving View Post
Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!

I recently discovered Mumsnet, just by chance (no I wasn't searching for mums, quit your cackling).

http://www.mumsnet.com/

It has a forum like this one (click on the "Talk" at top left of the home page). There are often threads like "moving to the Coventry area - any suggestions of where to live?". I have read a few of these threads and they are really insightful, from people who actually live I these areas. Details of public transport, shopping, crime, accessibility to countryside, house prices, etc. throughout. They also talk about schools, nurseries, etc., as you'd expect from a mum's site but I just ignore those bits!
I see that right now they are discussing Bucks:

http://www.mumsnet.com/things-to-do/...uckinghamshire

http://local.mumsnet.com/Talk/buckin...e/local-active

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Old Jan 22nd 2014, 5:40 am
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Default Re: Location, location, location

Originally Posted by dunroving View Post
Just wanted to post a Web site for people considering where to live when they return to the UK. I'll post it in all three "location" type threads, as it applies to all and it might get lost otherwise. Hope that's not breaking any site rules by too much!
I am enjoying all 3 of these threads. I recently discovered yours Dunroving (Homes for the bargain basement crowd or something like that... perhaps you could post the name) and am working my way through the history. Have become an avid fan of 'Homes under the Hammer'. At first I was quite discouraged, thinking that they wanted THAT price for THAT place but now, after seeing the success of 'ordinary' people as well as builders and the like, I would definitely consider buying a place at auction and fixing it up.

Last edited by bandrui; Jan 22nd 2014 at 5:43 am.
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