London Property: How overpriced is this house?

(56 Posts)

750k

I like it. But it is very small. Compared to the other houses in the area it seems very expensive for its size and build.

PatriciaHolm Tue 14-Jan-14 10:54:14

It's in the dover house conservation area, which always commands a premium over other roads nearby.
I don't think it looks overpriced for the area...

But it is a tiny ex council cottage.... Other houses in the area are million pound mansions.

shock at 750,000 for that teeny council house.

AngryFeet Tue 14-Jan-14 11:04:19
OddFodd Tue 14-Jan-14 11:05:30

I've never understood the appeal of Putney. It's such a colossal PITA to get to and from.

wow that's a lot more expensive than the previous sold on the same street. Surely here comes a point when no matter how much you have spent on the inside of your house, you won't recoup your cash?

Bowlersarm Tue 14-Jan-14 11:08:43

Wow, haven't they fine it up well. Looks stunning inside.

It has 2 bedrooms, the third is the loft extension.

It's one living area though, you would feel so on top of each other.

PPaka Tue 14-Jan-14 11:20:00

Do you know the area?
£750 for a 3 bed house in Putney is pretty good
My house is similar, and just had same valuation

Norudeshitrequired Tue 14-Jan-14 11:24:08

Makes me chuckle that the estate agent have included the garden on the floor plans, since when did gardens get included? Is that normal practice in London?
Up here in the North that house would struggle to be worth over £150k in the vast majority of areas (even very nice areas) as ex council houses are much less desirable up here.

PPaka Tue 14-Jan-14 11:30:49

Of course gardens are included
That could have a back yard or a 100ft garden, makes a huge difference

AngryFeet Tue 14-Jan-14 11:39:05

If houses were selling for around the £470k mark on that road last year, even if you account for a 10% rise is property value in London and the fact that it has a back extension and a loft conversion I still don't think it is worth more than £600k.

AngryFeet Tue 14-Jan-14 11:39:55

Yes but PPaka they usually write the size of the garden on the description but I have never seen it drawn into the floor plan hmm

PPaka Tue 14-Jan-14 11:59:24

I've never seen it not drawn into a floor plan, so assumed it was the norm

I have seen it drawn into the floor plan of london houses, where the garden is just as wide as the house.

happybubblebrain Tue 14-Jan-14 12:21:38

It's nice on the inside, but £750,000 for a small ex-council house is crazy.

I though it was usual to add the garden in floor plans, we had it on ours (London)and the one we just bought (not London) had it as well. The price seems right for the area.

MrsOakenshield Tue 14-Jan-14 12:24:28

houses similar to this in Dulwich go for a similar price, we went to look at one but it was just too teeny weeny (though irritatingly in the catchment for both a good primary and secondary, which round here is virtually unheard of). Personally I wouldn't pay that, but it's worth what someone will pay!

TunipTheUnconquerable Tue 14-Jan-14 12:25:50

Maybe it's an area where buyers are very likely to want to extend, so the exact size and shape of the garden could be important.

I am mostly just gobsmacked at London prices compared to where I live. It used to be that London:my area (E/N Yorks) was 2:1. Even if this house goes for less than it says, now it seems to be more like 3:1.

WhataSook Tue 14-Jan-14 12:30:14

Lovely but wouldn't pay that (and I live in London). It is two beds plus a loft which looks like it would be difficult to stand up in so always a child's room?

Agree that outside measurements are always shown on London properties - I wouldn't waste time viewing one that didn't give me a rough estimate of what the outside space was like.

LCHammer Tue 14-Jan-14 12:35:15

I know the area. A bit sleepy. Putney has nicer places.

750 for a small house that has already been extended into the loft and at the rear, mid terrace and with just a small garden, seem extortionate to me.

Sleepy is good when you have young kids though!

LibraryBook Tue 14-Jan-14 12:36:28

If you are looking for evidence of the London property market being overheated, that house is surely it.

LCHammer Tue 14-Jan-14 12:38:52

Quint - if it's sleepy you want, suburbia is your ideal smile

I think I want the Lake District, but with ds1s school on the doorstep! grin

oscarwilde Tue 14-Jan-14 12:45:32

You will always pay a premium for a house that's been freshly refurbed. if you are prepared to do the work and deal with the hassle of the builders you could probably get an unconverted house on the same street for £500k and do the work for £100-130k (assumes gutting it completely and installing two new bathrooms, a downstairs loo etc etc)

noddyholder Tue 14-Jan-14 12:46:36

Looks ex council 750k what a cheek

You are paying a premium for it being done up. There is no further way for you to add any value to it, so Id only buy it if I planned on living there foreever.

Norudeshitrequired Tue 14-Jan-14 12:50:15

They never put the garden in the floor plans up in the north? They usually include a photo (or several) of the garden and a brief description of the outside space, but the floor plans only include the actual living space. Just goes to show how mad the London property market is compared to other parts of the UK.

LibraryBook Tue 14-Jan-14 13:03:46

It doesn't even have its own proper entrance. It shares it with next door. How unbelievably crap is that?

London1975 Tue 14-Jan-14 13:13:16

It's £580 per sq foot which for putney is pretty good. I just sold a 2 bed flat up the road in Barnes for £720k at 800 sqft, so compared to that its good value

London1975 Tue 14-Jan-14 13:16:50

Plus it's in a really nice part of putney with barnes and putney stations nearby and good local schools. I'd be surprised if that didnt get snapped up

PPaka Tue 14-Jan-14 13:18:03

That area is a bit odd in regards to houses
That's why I askedif you knew the area
Want me to check it out for you?
Fwiw, I was astounded by the valuation for mine, estate agent said there are bidding wars if your house is in the right street.

LibraryBook Tue 14-Jan-14 13:20:20

I just can't get my head around sharing a doorstep for £750,000. ha ha ha.

LibraryBook Tue 14-Jan-14 13:22:08

But it's very clearly an ex council house which presumably is a drag on value.

Barnes is much much nicer than Putney.

LibraryBook Tue 14-Jan-14 13:24:44

And also very little of that loft room is useable space, so you should make a deduction for £ per sq foot.

higgle Tue 14-Jan-14 13:25:59

I couldn't believe the picture of the outside of the house - inside is lovely, I wouldn't want to pay £750k for a house that looked so like a council house outside though.

NearTheWindmill Tue 14-Jan-14 13:47:35

I think it's the right price for where it is and the extent of the extensions and the interior - all done and ready to move into. Bear in mind that the Southfields Grid has just hit the million mark for beautifully renovated terraces with loft conversions. But Quint you could get one of those which is a bit tired and needs a lofty still for about £750,000 and if I were you I'd look at that quite seriously. You would still get three beds but would have to save to renovate and ultimately you get a better house, 5-10 mins from the tube and end up with either more space or more profit.

Dover House is listed and pretty nice but it's a schlep to the tube.

That space elsewhere in Putney would be at least £850,000/£900,000 and that would be pushing it though.

I think I rather buy this and spend 100k on a loft and refurb.

eveylikesv Tue 14-Jan-14 14:01:13

London, it is hardly a nice part of Putney. Not close to train stations at all (you would have to take a bus), far away from shops and high street and i would definitely not want to walk there on my own at night. It is ridiculously overpriced for what it is.

noddyholder Tue 14-Jan-14 14:04:10

I agree quint that house in OP is a generic re furb

MarshaBrady Tue 14-Jan-14 14:04:25

It looks like they've put a lot of work into it, and have priced it accordingly. I wouldn't be interested due to outside. But some one might not mind what the exterior looks like.

Nancy66 Tue 14-Jan-14 16:06:46

Well, it's a lot better value than This

TunipTheUnconquerable Tue 14-Jan-14 17:31:01

flipping heck.

Well, thats one ugly house!

MichaelFinnigan Tue 14-Jan-14 22:51:57

It's because everywhere else gardens are bigger than rooms. You'd need some kind of fold out A1 plan to include the garden of a £750k house anywhere else

Skiskiskis Tue 14-Jan-14 22:57:49

How annoying to waste space on the first floor with TWO bathrooms in a small house like that. Would have been much better to have had a bigger sized bedroom IMO.

The bubble is sure to burst soon.

LondonGirl83 Tue 14-Jan-14 23:44:55

Doesn't seem that overpriced given that its about 50% larger than the houses that sold for less 425k 12 months ago given the market has moved. It's probably about right.

Skiskiskis Wed 15-Jan-14 09:28:54

LondonGirl83 - are you an EA or have some other kind of vested interest?

Rockdoctor Wed 15-Jan-14 09:42:44

Doesn't seem to bad for Putney (although I agree Barnes is nicer).

As long as overseas buyers are buying up whole blocks and letting them sit empty purely as an investment/money box, the London bubble isn't going to burst.

Houses sold a year ago seem to have more extension potential though, and are not newly refurbished. I think I rather buy one that was not already extended to the max that I could make into what I want. Not sure I like the open flow of Kitchen at the front, study/office in the middle, and dining room/living room at the front.

The other houses has a third single bedroom on the first floor, they have converted this into a bathroom, so two bedrooms and two bathrooms on the first floor, and a loft with a raised roof, but NOT a dormer giving full height, and no ensuite. This seems a waste.

If I were to extend into the loft of a mid terrace, I would do a dormer with full ceiling height out back and a Juliette balcony, and include an ensuite bath/shower room, rather than just a slightly raised roof on a big room. It is not really a bedroom. It is more like a loft lounge without a view!

Hellocleaveland Sun 19-Jan-14 18:59:46

When I grew up in Putney the Dover House road area was all council houses, but I doubt there are even a handful left now. It's a nice enough area I suppose, but not really 'proper' Putney to my mind. That does seem to be a very high price though, I agree that you would be better off trying to get an un-extended property and doing it up yourselves if possible. Also, I'm not sure what your catchment for local schools would be there. Unless you are thinking private, in which case there are lots of good ones. I wish I could afford to live in Putney these days, the house I grew up in is now worth over 2 million!

LCHammer Sun 19-Jan-14 19:28:48

Hellocleveland - the houses have remained. Parking can be a problem (squashed) in some of the crescents and cul de sacs off the main road.

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