Forum Topic

£2.3 million for an Acton house? Is the world mad?

Obviously it is. But, though backing onto the park, why would anyone pay that sort of money for somewhere with a line of stationary cars, belching out fumes, outside it for what seems like more than half the day?Incomprehensible. And to go up by onver £1 million in a year or so? Can anyone explain?

Sara Nathan ● 4597d31 Comments

Is this on The Vale? Wow. It must have a very superior indoor pool, games room, gold taps etc.

Dan Filson ● 4597d

It is a massive increase but it looks like it has been done over to a fairly high standard. I'm guessing that happened since it was last sold.If you click this link you can (sort of) still see the details.http://www.rightmove.co.uk/property-for-sale/property-27303516.htmlIt does seem crazy though i agree.

Jamie Carless ● 4597d

Have there been any offers at this price I wonder?

Keith Iddon ● 4597d

6 bedroom semi-detached house for sale Rightmove link says SOLD STC.Sigh. Had my eye on that one. :o(

Fred Bray ● 4597d

The 1930's semis on St Dunstans are selling for £725 000 on the railway side. One went on the market 2 weeks ago and a week later there was a 'sold' sign.

Kim Rugg ● 4597d

And here's one in  my street for £750k. Personally I think that's an absolute fantasy even for an end terracehttp://dendrow.com/property/1978574/for-sale/3-bedroom-highfield-road-acton-w3/

Roy Gillett ● 4597d

I'd rather move to Tenerife and splash out half of that money on a luxury villa with massive pool.

David Wright ● 4597d

Roy, according to the 'SOLD' sign on the estate agent board it is not fantasy. We bought on St Dunstan's avenue 3 years ago prices have gone up by 50% since.

Kim Rugg ● 4597d

Those who cannot afford kensington and chelsea/ notting hill gate or chiswick or are trading down wanting  the same amount of space see acton with its excellent transport links, nearness to westfield, crossrail and good private schools an excellent investment.  Supply and demand = rising property prices.  Waitrose have done their research and that is perhaps why they want to move into the new oaks development in churchfield road. 

Dee Cook ● 4597d

At those prices, once you have bought, no way will you be able to afford Waitrose...Morrison's savers brand for everything!The £2.3 million place is on East Churchfield Road - just beyond the level crossing.

Sara Nathan ● 4597d

St Dunstan's isn't Highfield Road. I'll wait and see if #54 goes at 750k. If it does I may sell up sooner than I'd intended to...

Roy Gillett ● 4597d

I think a great deal of work was carried out on it - it was blocked off for at least a year while the work was carried on in a very desultory manner.  I suppose the owner wanted to recoup all his costs, and to be compensated for the amount of time the work took

Nina Battleday ● 4597d

Morrisons are presently in financial difficulties I wonder why? Go shop in waitrose ...it isCheaper than you think... spend over a fiver and u get a free newspaper.....and don't forget the free coffee.  And you get some decent service with a smile and not a bu...er of if you don't like it look.  Buy less... but get better quality and a clean shop as well.  The choice is yours quantity or quality.  How much left over food ends up in your green food bin or on your compost heap?

Dee Cook ● 4597d

You never know . . . . . perhaps whoever bought the house expects to make an absolute killing on the Oaks re-development.

Fred Bray ● 4597d

I so disagree on Waitrose - I shopped in one in New Malden recently. It was so over-priced, the selection of fruit and veg was poor and the quality no better than Morrisons. The bread was less interesting.The only upsides were they stocked Calgon - which Morrisons doesn't - and their own brand liquid washing machine soap is unrivalled. Even my mum, a Waitrose stalwart of long-standing, approves of Morrisons now she has moved here.

Sara Nathan ● 4596d

I don't want Acton to become Notting Hill. I like it as it is.

Richard Grange ● 4596d

The interior of the house is rather impressive, but still ...

Susan Kelly ● 4596d

I thought the kitchen looked a bit cheap for the price.

Vivienne Duggan ● 4596d

"Is the world mad?"No. Just the idiot who paid 1 mil over the odds for this unimpressive refurb job.

Peter Millman ● 4596d

It could be that the buyer is not based in the UK and has been recommended to use this agent buyer people in a similar position.( And so hasn't really looked around at what similar places are going for)I'm thinking really here about the estate agents in West Acton that target the Japanese Market. Properties that they market seem to be pushing the local ceiling price ever higher.Perhaps the agent for this property has a clientele in Russia for example. If that relationship is trusted i can well imagine a cash rich / time poor individual not checking elsewhere.

Jamie Carless ● 4596d

Noticed today that the house next door but one is having alterations carried out by the same firm.  Wonder how much that will sell for?

Nina Battleday ● 4594d

I had my house valued recently as I need to refinance.  I was completely shocked, and not in a good way, about the huge increase in "value" although I use that word ironically.  How on earth can anyone afford to buy a home? Salaries have not risen by such a huge percentage.  Estate agents smugly say they are not responsible, but the last housing bubble contributed to the global financial problems we all faced in 2008, and it's going to happen again.  No amount of talk about Crossrail or Waitrose is going to stop this.  Interstingly, one agent let slip that althoug prices are rising at this huge rate, the number of new instructions has not picked up. Supply and demand?

Anne Brown ● 4593d

The Guardian this morning said instructions were up enormously according to Rightmove and estate agents. My researches suggest that rents - at least for family homes - have not increased proportionately

Sara Nathan ● 4593d

Is this perhaps all BS spouted by the agents to pump up prices?I am in West Acton and for the last 6 months it has been really rare to see anything marketed for less than 600k.Most houses seem to be between 620 and 675. Looking at the 'SOLD' Price section for streets in our area - nothing has yet achieved a price higher than 580.The data only goes back to Nov 2013 but until the actual data is available for the house that we have all been discussing i am now inclined to think that it probably achieved a fair bit less than the asking price.Or are Estate Agents too honest to engage in such practices?; )

Jamie Carless ● 4590d

To put a few things into perspective; the property that sold, 20 East Churchfield Road, is 3800sq ft.  To give you some idea the average three bedroom in the area is 1100Sq ft. Typical prices for local 3 bedroom semi detached properties in acceptable order is approx £700k to £900k. This is very substantial property with a premium for an upmarket refurbishment.One of the key reasons for the surge in property prices is the serious shortage of stock. Help to Buy and Funding for Lending have also created a surge in applicants looking to buy.  There are a large number of applicants chasing few good quality properties. Investors are generally sitting on property income they would like to reinvest.  They are not selling existing properties (most with phenomenally low interest repayment plans) but looking to add to their portfolios as leaving cash in the bank is not generating a decent return.  Rents have not increased in line with property prices; it is concerning that property prices are increasing at the rate of 20%+ year on year. 8%-10% would be ideal.

Faisal Yousuf ● 4590d

Did you sell it Faisal?  Hope at least it was a local independent estate agent benefitting, not one of the more shark-like chains.Why is rental income for bigger properties languishing in comparison?

Sara Nathan ● 4590d

Hi Sara, Unfortunately we didn't sell it, however, a local independent on Askew Road did.Large family homes appeal to significantly fewer potential tenants. Corporate families generally seek central locations.  However, the local schools have really helped Acton, especially the Saudi, Greek and Japanese schools.Smaller properties are more popular and appeal to the widest range of potential tenants such as young professionals, students, and especially those who struggle to get on to the property ladder. Many investors are looking for ways to divide larger properties to extract maximum value.

Faisal Yousuf ● 4589d

I had no Idea that we have a Greek School!

Jamie Carless ● 4589d

Me neither  - only the Saudi and Japanese ones.Where is it?

Sara Nathan ● 4589d

3 Pierrepoint Rd, London W3 9JR, just behind Horn Lane.www.greekprimaryschooloflondon.com

Faisal Yousuf ● 4589d

The other end of the scale.  Cumberland Park.  £2,450,000 15 bedroom property for saleCumberland Park, London W3 Blurb :-  " Investment opportunity – hmo; 9 studios, 2 bed flat, and 4 Double Bedrooms hmo certifiedThis hmo registered period property is located in the popular Poets Corner area. Local transport connections include the main line station at Acton Central and Acton Mail Line, (where a Cross Rail terminus will be sited). There is also easy access to the A40 (M) for vehicle access. Other local facilities include Acton Park, The Park Club health and leisure centre. Shopping is to be found along Acton High Street with the Westfield London complex a short bus ride away in Shepherds Bush. "

Fred Bray ● 4589d