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

[ladymuck]

A well maintained older property can be lovely. I love art deco era housing but the crittall windows can be draughty and not very warm unless you go for modern replacements. I'm also a fan of Victorian and Georgian era builds. Most modern white square boxes made with stud walls you can't hang anything on do absolutely nothing for me.

[GigiBronz]

Look around Masthouse pier (great for commuting into the city every day on boat) or 15 min walk to CW

Great walks by the river and nice and quite

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...

[Whorty]

many investment companies and pension funds own lot of properties

They will have taken a battering then. How much you lose?

[ladymuck]

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.

[GigiBronz]

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...

[Andy2]

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%.

[GigiBronz]

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.

[Mordac]

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.

[AtW]

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)

[Andy2]

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.