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London House Prices Surpass 500,000 Pounds for the First Time

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  • GigiBronz
    replied
    Originally posted by GhostofTarbera View Post
    So easy walk under the Thames to Greenwich then

    Turn right from mudchute towards the best Thai restaurant in the city kinkao (excellent siting out side on a warm sunny day) has a bar area if you are not eating also, drop in for a beer in my local “the ferry house” another nice bar + food and beer garden when COVID is over, when you get to kinkao you can walk for about a mile next to the river way up past mast house pier
    I think we'll enjoy it here as well, CW is a lot better than people make it. And for current prices it is a steal.

    Holding deposit put in yesterday, now waiting to see how things go... I've pm'ed you the property, feel free to share your thoughts.

    Does anyone know if that scheme the agencies were using with taking holding deposits from everyone then seeing who you could forfeit first? Do they still do that?

    Leave a comment:


  • GhostofTarbera
    replied
    Originally posted by GigiBronz View Post
    It feels ok so far, I have an airbnb in Madchute and have been wandering the streets these days, don't know. A bit soulless as well but we are young and restless. Hope to make an experience out of it.
    Above all it is reasonably cheap. The other guy cooks well so I'd be able to sail through the period without selling my soul for 45k FTC in a dinky company...

    I would have avoided the Wilde Wide East but Isle of Dogs seems a bit better than the rest.
    I've PM'd you the ad, seems a steal for that price but don't know yet what the estate agent might have in it's sleeve so we'll see on monday. Fingers crossed...
    So easy walk under the Thames to Greenwich then

    Turn right from mudchute towards the best Thai restaurant in the city kinkao (excellent siting out side on a warm sunny day) has a bar area if you are not eating also, drop in for a beer in my local “the ferry house” another nice bar + food and beer garden when COVID is over, when you get to kinkao you can walk for about a mile next to the river way up past mast house pier


    Sent from my iPhone using Contractor UK Forum

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by AtW View Post
    What kind of dog sized flat can 500 grand buy in London these days anyway?

    Can a Chihuahua fit comfortably in one of them?

    Asking for a friend (Churchy)
    As long as you do not plan to swing it by the tail...

    I am surprised as well how people commit to 600-800k flats with 100k per month, if you fall off that train (which how we were discussing in "state of the market", it's not a lot) you can't cover the mortgage by working at tesco. Your boss will know also that you are a simp with high mortgage and you'd be the first to get the nod when something needs doing...
    Last edited by GigiBronz; 24 January 2021, 13:08.

    Leave a comment:


  • Andy2
    replied
    Originally posted by GigiBronz View Post
    2) based on rental yield, I googled the values for the area, they seem to between 3.1% and 4.1%. last sold price £850k in 2015, house price inflation for prev 5y is 5.37%(zoopla estimate for area). 3.1% yearly yield is £2313pcm. 4.1% is £3060pcm. there are management feels on top(15% for london) of that service charges for flat, potentially 300-400pcm. other repairs usually are 0.5-1% per year. so there isn't much yield at all.
    you are right. Yield drops down a lot depending upon service charges , which vary a lot.

    Leave a comment:


  • AtW
    replied
    What kind of dog sized flat can 500 grand buy in London these days anyway?

    Can a Chihuahua fit comfortably in one of them?

    Asking for a friend (Churchy)

    Leave a comment:


  • Mordac
    replied
    Originally posted by PCTNN View Post
    I'm with the Chinese on this one.

    I'm watching a lot of George Clarke stuff at the moment and it's shocking what people pay for period properties that are ugly and not made for modern living.

    You see them say "oh we love the period features..." while they point at a cracked and filthy piece of cornice or a discoloured painted glass window.

    Just a bunch of tossers wannabe posh.
    At least period properties are unlikely to be clad in something which should never have been legal and which could potentially cost you six figures to remove.

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by Andy2 View Post
    it seems like good returns for the landlord, nearly 5%.
    I am not sure if my method to estimate rent is good but for anyone that has a better idea than me please feel free to share:

    1) similar properties in the area, but usually estate agents tend to inflate the prices to give impression of value or put a dump at a high price to give a false impression of what is value

    2) based on rental yield, I googled the values for the area, they seem to between 3.1% and 4.1%. last sold price £850k in 2015, house price inflation for prev 5y is 5.37%(zoopla estimate for area). 3.1% yearly yield is £2313pcm. 4.1% is £3060pcm. there are management feels on top(15% for london) of that service charges for flat, potentially 300-400pcm. other repairs usually are 0.5-1% per year. so there isn't much yield at all.

    Leave a comment:


  • Andy2
    replied
    Originally posted by GigiBronz View Post
    We've just put in an offer at £1600 for a 2 bed 2 bath in the Millharbour Building, it has a 650sq ft outside terrace. 5 min from South Quay DLR.
    For the first time the agent seemed to be helpful and suggested that the LL could be happy with the offer.

    Fingers crossed...
    it seems like good returns for the landlord, nearly 5%.

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by ladymuck View Post
    I lived in Baltimore Wharf (just the other side of Millwall Inner Dock from you) and towards the bottom of Isle of Dogs in the flats off Dockers Tanner Road.

    I did like that end of town (and I very much like Wapping too, but not lived there) but I never felt settled.
    It feels ok so far, I have an airbnb in Madchute and have been wandering the streets these days, don't know. A bit soulless as well but we are young and restless. Hope to make an experience out of it.
    Above all it is reasonably cheap. The other guy cooks well so I'd be able to sail through the period without selling my soul for 45k FTC in a dinky company...

    I would have avoided the Wilde Wide East but Isle of Dogs seems a bit better than the rest.
    I've PM'd you the ad, seems a steal for that price but don't know yet what the estate agent might have in it's sleeve so we'll see on monday. Fingers crossed...

    Leave a comment:


  • ladymuck
    replied
    Originally posted by GigiBronz View Post
    We've just put in an offer at £1600 for a 2 bed 2 bath in the Millharbour Building, it has a 650sq ft outside terrace. 5 min from South Quay DLR.
    For the first time the agent seemed to be helpful and suggested that the LL could be happy with the offer.

    Fingers crossed...
    I lived in Baltimore Wharf (just the other side of Millwall Inner Dock from you) and towards the bottom of Isle of Dogs in the flats off Dockers Tanner Road.

    I did like that end of town (and I very much like Wapping too, but not lived there) but I never felt settled.

    Leave a comment:

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