What £1.7m gets you in North London

[propertyporn1]

www.rightmove.co.uk/properties/154967573

😭

When I picture a nearly £2m house - this isn't it

Just to rub salt in the wound even further - what does £1.7m get you in your neck of the woods?

Yes, this is what people don’t take into consideration when they say “well, just don’t live in London then”.

Why should every born and bred Londoner have to move away from everything they have ever known? Their entire support network. just to have an affordable roof over their head. It’s so wrong.

In my area:

www.rightmove.co.uk/properties/134453789

Near me but shhhhh! We don’t like to tell people about Shropshire. It’s gem!

www.rightmove.co.uk/properties/150397742#/?channel=RES_BUY

I don't know what link you are all clicking, but the link in the OP is trying to take me to something called Skim Resources!

I know the road and the price may be aiming at developers wanting the site for flats, rather than anyone looking to refurbish the house

Indeed, you are right. The building costs now are mad. We bought a property nearby and did a full refurb which included a double height extension, we wouldn't be able to afford that now. Interest rates seemed to temper prices a bit but of course the mortgage payments are out of people's reach.

have been left to go to ruin by their elderly owners.

Yea, unbelievable how much renovation you have to do after paying so much.

I'm glad I live in a modern, well-built, all mod. cons. apartment like that one in Sweden. Beautifully fitted, well isolated etc. I'm in Europe.

What £1.7m gets you in my area

https://www.zoopla.co.uk/for-sale/details/68100544/?search_identifier=32e0b29104e20bd61541566e2b97974f163cd1b3c7d495918d51b124f5e28593

I had to Google what an Orangery is.

To be honest, I’m staggered just how many homes outside London are so insanely expensive. The London plague seems to have become ingrained all over the place and I’ve no idea how things will right themselves.

I have long admired this place. Offers are above the guide price so they probably want around £1.7 million.

https://www.rightmove.co.uk/properties/147789860#/?channel=RES_BUY

That’s actually quite good value for a detached house in a desirable part of North London albeit pretty far out. Winchmore Hill is very different to Enfield though adjacent and part of that borough.

Lots of people from Crouch End ETC move out to WH for space, schools etc where it is cheaper though not dramatically so.

There will be no “price correction” per se. Londons prices reflect supply and demand. Always have although there have been house price crashes nationally that are reflected in London.

Winchmore Hill. N 21 postcode not EN postcode. Borough of Enfield but not in Enfield town. Not near any tube station mind. I’d not spent that to live out in zone 5.

The bank and government won’t permit a crash. They will always increase.

https://www.rightmove.co.uk/properties/149929505#/?channel=RES_BUY

Nothing in that price bracket in my area apart from farms. This is the most expensive house in my area. O/O £980,000.

I can't even fathom paying london prices, yes wages may be higher but ours aren't that much lower.

We paid £140,000 for our house 4 years ago. Edwardian 5 bed, 3 rec semi with sea views. Crazy!

That's nuts.
Net is there's this. London W7. Good schools, right on the Lizzie line and 20 mins to central London.

www.rightmove.co.uk/properties/149639123

£1.75m. front line to sea. 5 bed, 5 reception.

https://www.propertypal.com/lisnarede-house-176a-warren-road-donaghadee/862034/photo-2

But that’s a specific part of North London, not representative of the whole of it…

And it’s a very large house but still somewhat overpriced

https://www.zoopla.co.uk/for-sale/details/67142290/?search_identifier=a366db577d9a7aff3c3282e7aaacf76d912e9ffdc497c324907de02cd4029a39

Every year I think prices are getting to unsustainable levels and every year they continue to increase further. It doesn't make sense. Who is keeping house prices propped up to this level? How many buyers out there can keep affording these ridiculous prices? Will there ever be a crash or are house price crashes consigned to history?!

Remember lots of people have/had huge equity gains which sustains a large part of the market. Growth pre 08 is very different to post 08. Many who bought flats in London in the last few yrs won’t be making 200k in 2 yrs like before. There won’t be a crash imo but things will stagnate in real terms for some time.

We also aren’t going to see interest rates under 2% for some time

In my area £1.7 will get you a Victorian terrace - either smaller with tiny garden but fully done up, or a bit larger but needing lots of work.

Something like the OP’s listing doesn’t exist but if it did it would be fought over and go for £3m+ due to the plot size and potential.

Scotland

Up here in Geordieland, we have

Nothing 'passive' about the income this little gem could rake in,
HMO

A suburb reasonably close to town,
GOSFORTH

and something a little further out,
WOOLSINGTON

That's something added to a lot of urls by mumsnet. It's what makes them appear as a link with a picture, I think.

House in op has a London postcode. Winchmore hill is in london

https://www.rightmove.co.uk/properties/152567909#/?channel=RES_BUY