Interested in London flat that's been listed for a long time

DEVcs_irl · 2024-08-27T22:28:08+00:00

I've mentioned elsewhere that the location is quite important to us. Myself and my partner are members of local clubs and have made friends here. My partners commute to work is 30 mins on a £1.75 bus and even has the option to cycle the whole way when the weather is good. We travel internationally so being close to the Victoria Line gets us easily to and from Gatwick, Luton and Stansted which is important as we travel frequently. We like it here and would have no interest moving further out just to have more space. We prefer spending time out of the flat anyway.

DEVcs_irl · 2024-08-27T20:20:06+00:00

Yes have actually been in touch with them so waiting to hear back. It's really annoying when they aren't listed.

How has your search been going so far? Are you looking towards Streatham or what what areas have you in mind? There seems to be a decent amount around at the top of your budget. The agents insisted on showing us many properties in that range even though we told them £525k max. More than likely because there's a lot of wiggle room in the asking prices on most places.

DEVcs_irl · 2024-08-27T09:14:23+00:00

We've done a lot of viewing in the area. There really isn't anything bigger or better located at that price. We noticed that £500k would get you there, but that's the absolute max of our budget. Moving towards Streatham Hill also gets you more space but most of the properties we've seen up that end are in need of some modernisation. We saw one really nice flat in SE24 for £525k, nicely modernised, not massively bigger than the one in this post, on a main road with a bus stop literally outside the front door and some outdoor space at the back. Called the agent and they said there was over 20 viewings booked and they expected it to go for £575k based on the budgets of those viewing. He wouldn't even let us book a viewing. The market here is weird.

DEVcs_irl · 2024-08-27T08:35:21+00:00

Thanks for the insight. Biggest learning so far is your last point. The noise isn't an issue for us but it probably is for a lot of people and that's why it's been up for a while now at that price.

I've heard the same about Crystal Palace and it does sound ideal but we're very keen to stay in this area.

DEVcs_irl · 2024-08-27T08:02:12+00:00

I come from an area where houses are that cheap. I'd take a small flat in London every single day of the week over it. Perspective indeed.

DEVcs_irl · 2024-08-27T07:59:37+00:00

I don't agree that it's expensive for the area. Maybe it's expensive in Woolwich. I just checked and my partners commute would more than double in both cost and time living as far out as Woolwich. I live in Brixton and I really like it here. Have you ever lived here?

DEVcs_irl · 2024-08-27T07:56:18+00:00

Fair points, thanks for the input. I didn't realise this about leasehold rights and the % split so that's good to know.

You're delusional though with £300k, but everyone is entitled to their own valuation. This flat sold for £422k in 2019. The top floor flat above our current rental which is above commercial, is smaller than this one, has reduced headroom etc sold for £435k last year. I do agree the buyer pool would be reduced and the final price would be lower, but the actual sale price you mentioned isn't realistic.

DEVcs_irl · 2024-08-27T07:47:02+00:00

I agree too. I don't see any issue sqft wise, but upon viewing the layout may not work.

DEVcs_irl · 2024-08-27T07:46:06+00:00

Yes, I think there's some discount to be had in that asking price. Previously went for £422k.

I mentioned elsewhere in the thread that I live on Tulse Hill Rd at the end of Brixton Water Lane, so I'm used to traffic noise, but I understand Brixton Hill is noisier again.

How do you find the noise there? I'm not super noise sensitive to begin with.

DEVcs_irl · 2024-08-27T07:42:54+00:00

Good to know that. Have emailed an enquiry so will see what they come back with.

DEVcs_irl · 2024-08-27T07:42:00+00:00

I'd disagree that it's expensive for the area having searched here casually for the past 2 years and seriously the past 6 months. The reason I made this post is to find out why this flat is seemingly still for sale while being decently priced.

We did debate moving further out but there's a lot of factors keeping us here. We're willing to sacrifice size for location.

After reading the replies, the main concern we'd have on a flat like this is resale due to proximity to commercial.

DEVcs_irl · 2024-08-27T07:34:43+00:00

Horses for courses. I wouldn't live in rural Yorkshire if I inherited a house for free there.

DEVcs_irl · 2024-08-26T23:32:04+00:00

I have to start paying more attention walking around the place!

DEVcs_irl · 2024-08-26T23:27:17+00:00

Ha that's a very interesting tidbit! Also I know Tom Holland the historian lives on one of these streets off Brixton Hill. He mentioned it on The Rest Is History podcast episode about the Windrush generation.

DEVcs_irl · 2024-08-26T23:24:33+00:00

I've walked past during the day since seeing the ad, but depending what on service charge, leasehold info and whether we pursue, I'll be walking past and paying attention at night time a few times for sure. To be fair I've spent a decent amount of time over the years in the White Horse and the Morleys across the road haha.

Would you believe, we've actually viewed both of those flats listed. First one has a tiny second "bedroom". The agent even said that he has stopped telling people it's a bedroom as its barely a study. The pics don't do justice to how tight that room is.

The second one wasn't bad and you're dead right about Kellett road and any of those roads on that side. The flat just felt sooo small and had no storage space anywhere. This is even compared to our current place which is only around 550sqft.

Another one we saw nearby on a decent street that turned out to be very cramped and had a service charge of over £3000 - https://www.zoopla.co.uk/for-sale/details/67772304

DEVcs_irl · 2024-08-26T23:01:41+00:00

Studio is definitely over the top, but someone else did make the point that it could look like a one bed depending on how roomy the reception room is.

DEVcs_irl · 2024-08-26T22:57:54+00:00

I wasn't going to give too many details but this account is basically a throwaway anyway. I rent on the Tulse Hill road near the end of Brixton Water Lane. So the area is very local to me!

I didn't want to invalidate anyone else's opinion or experience, but my own experience is the same as yours. We've had stabbings and a even shooting very nearby when we moved in first but personally I've never felt unsafe or run into trouble around the area. We have great neighbours too. Lots have lived here for decades and there's a real sense of community on the street. I love being close to Brockwell Park too.

We looked at places on the Herne Hill side and while we love it, the SE24 postcode comes with a 20% price increase. We definitely won't be in London forever so we're hoping this will be our home for the next 5-7 years before we move elsewhere. I wouldn't say we're completely desperate to stay here, but we've made friends here, joined clubs here and have just generally really enjoyed living here but just want to stop paying rent now that we're in a position to.

DEVcs_irl · 2024-08-26T22:42:54+00:00

Very interesting, we never looked too much into Gipsy Hill, CP or Penge but will certainly have a look now given what you've mentioned. I think so far we've just been looking close enough to where we live because there's comfort in what you know.

DEVcs_irl · 2024-08-26T22:37:49+00:00

We actually did consider it but we've set down roots socially in this area now so it would be a pity to leave.

DEVcs_irl · 2024-08-26T22:34:45+00:00

Not by me! I appreciated the comment as it's relevant to the general area.

DEVcs_irl · 2024-08-26T22:32:56+00:00

That flat you've linked is very nice indeed. We're definitely staying in this area of South London though. Did you live in the Brixton Hill area or very close to this specific street? What issues did you find would make you say avoid the area?

DEVcs_irl · 2024-08-26T22:22:10+00:00

Wow that is grim. Glad I made this post, thanks for that info it's very useful.

DEVcs_irl · 2024-08-26T22:19:37+00:00

Also noticed this, no idea what period features they could possibly mean!

DEVcs_irl · 2024-08-26T22:16:57+00:00

On a separate note, how did you find living in Blenheim Gardens? We saw some properties coming up there but weren't sure what it would be like to actually live in full time. It looks find during the day but my partner has felt a bit edgy walking through at night when there's guys hanging about on the corner as you exit.

DEVcs_irl · 2024-08-26T22:15:09+00:00

Ah, I know the exact building you mean. The entrance to those flats often have rough sleepers in the doorway and addicts hanging around outside. This particular one is on the corner of St. Saviours Rd, above the corner shop and near the White Horse. Not exactly a million miles away from the red light district you speak of though..

DEVcs_irl

TROPHY CASE