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10ft wide house in East Dulwich hits the market for £800,000 Watch

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    (Original post by strangesquark)
    Is East Dulwich a particularly desirable area? I'd love to know how long it takes to be sold and how much for in the end.
    In my opinion, yes. It's not that far from the city, it's got some shops close by (even though you'll need to go further if you want to do a big shop), independent schools aren't that far so whoever buys it will be in luck if they want to start (or have) a family. I see Dulwich as relatively affluent area, compared to other places not even 15 minutes away.
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    (Original post by Drewski)
    But you also need private companies to build the houses - which costs money.
    They're not going to build lots of houses if the simple act of doing so reduces their profits.

    Sure, planning permission is one thing, but don't pretend it's the only thing.
    If the supply increases the unit cost of a house will decrease but this should be more than offset by higher volumes of homes being sold. I don't think property developers are the main players who are benefiting from artificially high property prices, not least because they also have to buy available land at an artificially high price too.
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    (Original post by SmashConcept)
    Because you need permission from the government to build a house???
    This is clearly not the issue when there are 500,000 houses with planning permission which are yet to be built http://www.theguardian.com/society/2...evels-lga-says
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    (Original post by Drewski)
    But you also need private companies to build the houses - which costs money.
    They're not going to build lots of houses if the simple act of doing so reduces their profits.

    Sure, planning permission is one thing, but don't pretend it's the only thing.
    I'm not pretending it's the only thing. All I really said was that prices are artificially high in a way that can't be explained just by classical market 101 that you learn on your first day of business studies class. I was surprised that someone actually challenged me on this, so I just wrote a one line response because I couldn't really be arsed and writing any more would probably have gone over that user's head anyway.
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    (Original post by Drewski)
    Supply and demand.
    Exactly. Supply artificially restricted, demand inflated by credit, buy to let, and money laundering.
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    (Original post by SmashConcept)
    To be honest 10 feet is a reasonably wide room, especially if it's long as that seems to be.
    10ft is not wide enough for a kitchen/livingroom open plan. You cannot just stick a sofa in there and call it a day. I refuse to accept. :argh:
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    (Original post by strangesquark)
    Is East Dulwich a particularly desirable area? I'd love to know how long it takes to be sold and how much for in the end.
    Yes, most of South London has been skyrocketing for years now. Areas like Dulwich and Peckham are getting mad expensive because your Claphams and Brixtons are even more so.

    This house sold for 800k but they'll be able to charge huge rent. The rent in all these areas is silly right now.

    The result is that lots of other areas outside London are now on the up. People are leaving to buy in your Maidstones, Redhills, Crawleys and elsewhere so now those areas are on the up and up.
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    (Original post by The_Internet)
    This has little to do with people coming to the UK to find work and contribute but more to do with the super rich from overseas buying property in the UK - ie your rich Arab princes and Russian Oligarchs
    Correct. The Chinese are big on this too.
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    (Original post by blackdiamond97)
    In my opinion, yes. It's not that far from the city, it's got some shops close by (even though you'll need to go further if you want to do a big shop), independent schools aren't that far so whoever buys it will be in luck if they want to start (or have) a family. I see Dulwich as relatively affluent area, compared to other places not even 15 minutes away.
    You're right but even these "less affluent" areas are becoming affluent. It's not a million years ago that - outside the high street on the walk from the station to The Academy - Brixton was horrible. Nobody wanted to live there. Now's it's expensive. Peckham is becoming the same fast. Even Streatham is going down that road and Streatham is has long been the most God-forsaken hell hole you'd ever set foot in.

    So some areas in South London are lagging behind in the gentrification but make no mistake about it - they're all getting there.
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    (Original post by KimKallstrom)
    You're right but even these "less affluent" areas are becoming affluent. It's not a million years ago that - outside the high street on the walk from the station to The Academy - Brixton was horrible. Nobody wanted to live there. Now's it's expensive. Peckham is becoming the same fast. Even Streatham is going down that road and Streatham is has long been the most God-forsaken hell hole you'd ever set foot in.

    So some areas in South London are lagging behind in the gentrification but make no mistake about it - they're all getting there.
    This is a good point - having lived in the area for nearly two decades I've seen first hand how the places you mentioned have changed. I've never thought Streatham was as bad as everyone was making out though lol
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    (Original post by blackdiamond97)
    This is a good point - having lived in the area for nearly two decades I've seen first hand how the places you mentioned have changed. I've never thought Streatham was as bad as everyone was making out though lol
    Really? I always found Streatham (St. Reatham these days lol) to be worse than Camberwell, Kennington etc. Bad times around the Ice Arena haha. I remember when Camberwell KFC had bullet proof glass at the tills like a bank lol. Having said that, Peckham was quite a bit worse than Camberwell and Kennington. Thornton Heath for me was the place that always got an unfair rap. It was never bad at all but everyone always said it was.

    But yeah it's all changing. My friend just sank a fairly big amount into a flat in South Norwood of all places.
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    (Original post by KimKallstrom)
    Really? I always found Streatham (St. Reatham these days lol) to be worse than Camberwell, Kennington etc. Bad times around the Ice Arena haha. Thornton Heath for me was the place that always got an unfair rap.

    But yeah it's all changing.
    I used to go to the ice area all the time, yeah you got some dodgy people there but I'd have to disagree with you on Kennington
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    (Original post by The_Internet)
    This has little to do with people coming to the UK to find work and contribute but more to do with the super rich from overseas buying property in the UK - ie your rich Arab princes and Russian Oligarchs
    aint no princes and Oligarchs trying to live in East Duwich800k is standard for a london family trying to buy a 3-4 bed house. that is the reality of the city - ie its not the bottom end of market ( immigrants and housing benefit) nor the top end( oligarchs mansions) that is suqeezed by maximum demand - its the family sized housing of ppl who have been saving for 5-10 years or are upgrading , ie 2-3 bed flats and houses 3-4 beds
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    (Original post by KimKallstrom)
    Yes, most of South London has been skyrocketing for years now. Areas like Dulwich and Peckham are getting mad expensive because your Claphams and Brixtons are even more so.

    This house sold for 800k but they'll be able to charge huge rent. The rent in all these areas is silly right now.

    The result is that lots of other areas outside London are now on the up. People are leaving to buy in your Maidstones, Redhills, Crawleys and elsewhere so now those areas are on the up and up.
    Interesting you say this...

    I live in Surrey on the last stop of Zone 6 and let me tell you, every office block here is being turned into hundreds of flats to cope with the "influx" of people from South London who can no longer afford to buy there. Prices here have started increasing substantially and the trains are fit to explode every morning.

    Even worse, estate agents justify the high prices by stating that your house will increase more in value over the year than the cost of your season ticket and therefore it's win, win. There is no increase in infrastructure, it's just becoming more and more cramped...

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    A significant impact could be made by placing a severe punitive tax on empty residential properties - maybe 20% of value every year it was left empty. But otherwise yeah, planning reform needed as part of the solution as well.
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    (Original post by will2348)
    Even worse, estate agents justify the high prices by stating that your house will increase more in value over the year than the cost of your season ticket and therefore it's win, win. There is no increase in infrastructure, it's just becoming more and more cramped...
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    Yeah - I don't get the draw of London. People seem so focused on the all important career, they forget about the joys of life. I just don't get it.
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    (Original post by ByEeek)
    Yeah - I don't get the draw of London. People seem so focused on the all important career, they forget about the joys of life. I just don't get it.
    I like where I live. You get decent sized housing, next to the countryside, it's commutable to London, more spacious, cheaper (although increasing), still close to airports, motorway and not that far from the coast. Why would someone want to live in London instead of that just for the sake of saving a couple of hours a day? An equivalent one bedroom flat here is literally nearly £200,000 cheaper than London and it's only 20 miles further out from the centre.

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    Looks pretty nice, would buy if I had the money
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    (Original post by will2348)
    Interesting you say this...

    I live in Surrey on the last stop of Zone 6 and let me tell you, every office block here is being turned into hundreds of flats to cope with the "influx" of people from South London who can no longer afford to buy there. Prices here have started increasing substantially and the trains are fit to explode every morning.

    Even worse, estate agents justify the high prices by stating that your house will increase more in value over the year than the cost of your season ticket and therefore it's win, win. There is no increase in infrastructure, it's just becoming more and more cramped...

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    Yeah I'm in Caterham these days (I'm guessing you're either Caterham or Coulsdon unless you're more west into the KTs) and I'm seeing exactly that. They're building blocks of flats all over the place at a steady rate and rents in the existing ones are going right up.

    The season ticket thing also. Season tickets into London from places like Brighton and in Kent etc are going up massively too for the same reason
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    I don't understand why people would want to live in London anyway- there's so much people at one time; it's suffocating. I can't even walk down a shopping center in London, let alone live there. Not to mention the fact that house prices are sky high.
 
 
 
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