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Housing market

ah we used to live in a top floor bedsit on streatham common !!! happy days . was not a particularly crime free area then !!
 
mandryka said:
SW16! No tube! Bad schools! Crime!

About five years ago I was really tempted by a beautiful house on Streatham Common, but I figured the above were a fatal combination.
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Some young professional pals of mine had a house share around there when I was a student in the 80s. Seemed nice enough then. Seems bizarre that it's not desirable now given that nearby areas that were then untouchable are now incredibly desirable.
 
stevec67 said:
Some young professional pals of mine had a house share around there when I was a student in the 80s. Seemed nice enough then.
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Streatham Common certainly looks nice. I used to work on Crown Lane.

Brixton has a tube, and that makes a big difference. Still there are a lot of rather dodgy parts of Brixton -- I'm thinking of the large part of it up Coldharbour Lane / Atlantic Road.

Peckham has one or two desirable Streets IMO -- though it's a long time since I was last in Peckham Rye. Peckham High Street itself is like it always was as far as I can see.

Deptford is desirable, no doubt about it -- it seems to have avoided the schools and crime problems. I don't understand how. Maybe it always was expensive so . . . it's always had posh peaceful people living there, no nasty sink estates or slum landlords.
 
mandryka said:
Streatham Common certainly looks nice. I used to work on Crown Lane.

Brixton has a tube, and that makes a big difference. Still there are a lot of rather dodgy parts of Brixton -- I'm thinking of the large part of it up Coldharbour Lane / Atlantic Road.

Peckham has one or two desirable Streets IMO -- though it's a long time since I was last in Peckham Rye. Peckham High Street itself is like it always was as far as I can see.

Deptford is desirable, no doubt about it -- it seems to have avoided the schools and crime problems. I don't understand how. Maybe it always was expensive so . . . it's always had posh peaceful people living there, no nasty sink estates or slum landlords.
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Deptford is desirable? As in the dreadful corner of se London near Greenwich? Good heavens. If that's desirable I'd hate to see the bad bits. I wouldn't keep someone else's dog there. I'm so glad I don't live in London, Leeds is hardly a Shangri La and Bradford is sinking fast and best avoided, but put the worst bits of either next door to deptford and they would be the new place to be.
 
stevec67 said:
Deptford is desirable? As in the dreadful corner of se London near Greenwich? Good heavens. If that's desirable I'd hate to see the bad bits. I wouldn't keep someone else's dog there. I'm so glad I don't live in London, Leeds is hardly a Shangri La and Bradford is sinking fast and best avoided, but put the worst bits of either next door to deptford and they would be the new place to be.
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You’re right, my mistake. A senior moment. Delete Deptford and insert Dulwich!
 
mandryka said:
SW16! No tube! Bad schools! Crime!

About five years ago I was really tempted by a beautiful house on Streatham Common, but I figured the above were a fatal combination.
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Yes, but I'm sure it would have been snapped up a year ago...that's the big difference, the games changed.
 
andyoz said:
Yes, but I'm sure it would have been snapped up a year ago...that's the big difference, the games changed.
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Are we seeing it though, nationally? OK, London, I get it. Likewise the bits fuelled by London money and second homes in Devon and Cornwall. But where I am in Leeds and your part of the world in NI, are we seeing massive market corrections? I'd say not. In Yorkshire and NI people buy 1 home, they want to live there. The limiting factor s are income and repayments. I've seen a gentle softening in demand and prices paid c.f. asking price, but that's all. The standard issue post war 3 bed Leeds semi is not in free fall, because guess what? There are thousands available, and thousands who want to live in one. They sell accordingly.
 
The folks who bought my place a year ago did so with a whacking great mortgage. Just wouldn’t be possible now. That’s universal, doesn’t matter where it is.
 
As a nipper in the fifties, I lived in a flat in Streatham.

My dad complained that you couldn't see the other side of the sitting room because of the smog.
 
mandryka said:
Streatham Common certainly looks nice. I used to work on Crown Lane.

Brixton has a tube, and that makes a big difference. Still there are a lot of rather dodgy parts of Brixton -- I'm thinking of the large part of it up Coldharbour Lane / Atlantic Road.

Peckham has one or two desirable Streets IMO -- though it's a long time since I was last in Peckham Rye. Peckham High Street itself is like it always was as far as I can see.

Deptford is desirable, no doubt about it -- it seems to have avoided the schools and crime problems. I don't understand how. Maybe it always was expensive so . . . it's always had posh peaceful people living there, no nasty sink estates or slum landlords.
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quite a coincidence , i worked in the british home and hospital for incurables in crown lane !
 
hifinutt said:
quite a coincidence , i worked in the british home and hospital for incurables in crown lane !
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I know exactly where that is. Rather nice building and grounds.
Streatham's interesting because so much of it looks attractive and indeed rather well healed, but when you work in the communities you see enormous problems of poverty and all that comes with it -- drugs, mental health problems, street crime, gangs and racial conflict. There are other places in London I know are like that: Roehampton is another.
 
Sounds like a population problem. The housing stock hasn’t reduced, has it? Or is it landlords throwing in the towel? Meanwhile, received a letter saying my mortgage is going to 7.49% (offset so doesn’t matter). A year ago it was 2%. That means a £200K mortgage has gone from £4K to £15K a year just to service the interest. A £500K mortgage, well…

https://www.bbc.co.uk/news/business-64989080
 
Minio said:
My dad complained that you couldn't see the other side of the sitting room because of the smog.
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Was he a heavy smoker? :D. I lived and worked in Tooting (NHS) for my first job, swam and had a friend in Streatham and always knew what part of London I was in when returning on the tube and seeing 'Balham; gateway to the south'. Sounded far more exotic than the reality !
 
Hilarious flyer through the door from a local agent. Apparently, the market is ‘returning to normal’. ‘Don’t believe the doom and gloom……if you are a cash buyer, in rented or a first time buyer, now is the time, house prices are stable and with high inflation, the value of saved funds is falling.’

Well, I’ll take circa 4.5% on cash rather than stick it into a depreciating asset (IMHO) any day of the week, thank you very much!
 
Ponty said:
Hilarious flyer through the door from a local agent. Apparently, the market is ‘returning to normal’. ‘Don’t believe the doom and gloom……if you are a cash buyer, in rented or a first time buyer, now is the time, house prices are stable and with high inflation, the value of saved funds is falling.’

Well, I’ll take circa 4.5% on cash rather than stick it into a depreciating asset (IMHO) any day of the week, thank you very much!
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Cash is always a depreciating asset.
 
Ponty said:
Not if the asset you are considering buying is depreciating at a faster rate.
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Relativity doesn't alter the absolute! Cash is guaranteed to depreciate as long as there's inflation. A house will always be worth a house and any change in its capital value is nominal until crystallised.

Added to which, at the moment cash is depreciating faster than property.
 
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