Surely they've mispriced this house?? Any Estate Agents or Property Experts able to comment?

[wtfiswiththishouse3]

I've namechanged for this - this house is on my road and I don't want this post linked to my others.

www.zoopla.co.uk/for-sale/details/55501879?search_identifier=160c182890cd195c887072dc94ba80e4

I am just flabbergasted. How do the prices get set?

I was actually looking on Zoopla because I am thinking about extending or moving and I wanted to see what asking prices are doing.

This seems to be at least £250k more than anything similar locally.

It is a nice road with a good primary school, good transport links and green space nearby but it's not an especilaly nice bit of London and no similar properties have sold for even nearly this price.

Does the Estate Agent decide the price? Or can the vendor say 'put it on for £1m - I don't care what you say'?

The decor is not at all to my taste but it's obviously been finished well - however it's so 'characterful it's unlikely to appeal to lots of people.

Or maybe IABU and this is actually what my house is also worth. Woohoo!

How long ago were the last sold prices. Round here one comes up for sale every 4-5 years. Once you add in the obvious extension and internal renovations that could easily cost a few hundred thousand more.

Wow. That would go for around £350k nr me!!!

Even the 400k-600k mark would be out of reach for us. Without having a decent job and / or help from parents/ inheritance/ being able to stay with parents and save for a few years, it must be so very difficult to even get the deposit together. We have ok paid jobs (librarian and manager in financial services) but would really struggle to afford a £400k home. Most of our circle are in simiilar circumstances (teachers, lecturers, accountants, nurses, opticians) and I think we would all struggle to afford that sort of thing. I don’t know the value of all my friends homes but I would guess most of our homes are between £150-£300k. The most expensive house in our city is £600k, and looks like a mansion to us

@Yellownotblue just looked at those houses, and yup, that area looks like a right dive!

Looking at the prices of properties further down the page that aren't too far from that one it looks like a fair enough price to me. Good-sized home, decent garden, very well maintained, good-sized rooms and if the decor isn't to the buyer's taste it just needs redecorating in some of the rooms and not much else.

It doesn't have to be the greatest area in London, prices are going up bit by bit throughout outer London as people move further from the centre in order to be able to afford London at all.

The decor is terrible. All that heavily patterned wallpaper simply makes me assume the walls underneath are in a poor state.

It's extremely specific to individual taste and a lot of work to change it all. Knowing what friends have bought and sold for around there, that price is just plain mad.

Well over-priced, the sold prices for the last couple of years are much lower. It does have good room sizes, the loft conversion is a positive but the decor is very definitely not to my taste.

Either they dont want to move or they invested a lot of money they are trying to recover - but wont.

@Dylaninthemovies1, quite! I always struggle to distinguish between the Rio favelas and the Combe estate, they’re so similar.

I think we need to arrange a collection for the poor people of Kingston living in those slums

@TheWernethWife

The old guy next to us died in November, nothing happened with the property until early March but then came lockdown. None of his family came up to do work on it (apart from taking all the furniture. Garden is a jungle, gutters need replacing, as well as the windows.

Estate Agent (not local) have priced it 10k over similar ones in the area, which all have decent décor, bathrooms and gardens.

Doer uppers go for premium prices round here. People love them because they can do the work exactly to their own taste.

You wouldn't get a terrace for that round here...

That sitting room is like some kind of weird oversized corridor

I'm guessing the price is set by the developer who has maybe sold a similar sized house for that price, but in a different area

It's ugly as!

I love the decor! Not so much the area. I grew up around there but it's probably more gentrified these days than it was in the 90s. I remember going to the benefits office in Morden town centre with my mum a lot and it was bleak. There was a good shop with loose pulses/grains/etc in that you could fill up with your own tupperware. I now pay over the odds for this experience in my local wholefoods. It was way before it's time!

Price is right imo. Not far in to London.

I think it’s priced to compete with new builds. It’s got a big high spec kitchen and two high spec bathrooms like a new build would whereas most 30s semis would have a small kitchen, one bath and maybe a downstairs loo . I’m currently looking at 2 bed new build flats in a zone 6 around Croydon (so similar area) and a flat with a balcony is £600,000 so 1m for a 4 bed house with garden and garage doesn’t seem unreasonable.

And of course if they are asking 1m, they’ll probably settle for less.

I’ve always wondered what it would be like to live down that road at Christmas.

Is there a clause when you buy a house down that road, that you have to have an abundance of Christmas decorations?

@tttigress

After Covid you don't need to live anywhere near London, expect prices to drop shortly in Greater London.

Care to explain?

I think it's overpriced but I like the decor - what does zooola say

I'd never pay that but I love the decor!

Another one thinking it's proximity to Wimbledon that's led to the price, but agree it's overpriced. Not been to Morden but visited rels in Mitcham and it was just another London burb, nothing special.

For that price I would buy in West London (Chiswick etc).

If it is so out of step with the area it could b the purchaser will have a problem when they want to sell. We were once told that any area has a broad ceiling and if you over-extend etc you will not necessarily recoup those costs. Looking at the house they're clearly pricing it for its 'distinctive' decoration that many would want to immediately change, personally I think it's hideous!

It's worth what someone is prepared to pay for it. The EA will make an estimate based on what other similar houses have sold for.

It's nowhere near close enough to Wimbledon (Merton Park) to be classed as an SW19/SW20 postcode though ... FWIW I have a good friend who reckoned she lived in Earlsfield - she was at least a mile away from the station in Tooting!

There's postcode licence (if you're a few hundred metres away or less) and going too far!

Why do people feel the need to call perfectly ok towns ‘shitholes’? So superior and unnecessary.

I don’t live in Kingston but I think it’s very from a shithole. Every area has it’s rough parts.

You wouldn’t get much in Chiswick for that price!