News in London and beyond

Charlton

Peabody asking £532,000 for two-bed flat in Charlton (before service charges)

Block on right

Flats at a long-delayed housing block in Charlton are on the market  – and Housing Developer are asking £532,000 for a 2-bed flat.

The block is at Valley House beside a dual carriageway, major traffic junction and large supermarket car park.

Service charges are an additional £147 per month – which could rise sharply if other developments are a guide. See last week’s episode of Panorama for coverage on service charges.

Block beside car park

Of course “Help to Buy” is emblazoned across adverts. Does anyone think without that scheme to “help” buyers (and definitely not developers) prices of £532,000 could be charged for small flats?

The sad thing is many who buy using Help to Buy are paying way over the odds, far more than local averages and could lose much money when it comes to sell.

A buyer can also look forward to council taxes rises of five per cent on top of those monthly outgoings, then rail fare increases due in January despite the pandemic. This is while many employers in the private sector plan pay freezes, and most public sector workers will see payment frozen except those on £24,000 or below – who won’t be able to afford this home.

 

10 Comments

  1. Glenn Powell

    Robbing lot.

  2. Hans

    Absolutely ridiculous, I hope they don’t sell a single unit and are forced to offer normal market prices!

  3. JR

    They must be charging a £1 for every day they’ve taken building that bland building.

  4. Chris L

    I recently walked past my old family home in Highmore Road (behind the old Roan School building). Spotted that it’s currently up for rent at £4750 per month.

  5. DWW

    I wouldn’t buy one if they were half the price! Within a few months they will be covered in graffiti and smell of urine, as is the norm with these type of buildings. Matchboxes, no style or quality!

  6. Roy

    Luckily….buyers take a look at the whole Market…

  7. Handily placed for the M&S food they won’t be able to afford. Still Aldi and Lidl are within walking distance.

  8. Dave

    Having passed that site so many times in the past year I was pleased to see that they were finally near finishing. Whilst not the greatest location at least my wife and I agreed that as affordable homes it was a question of necessity. Totally shocked that even a one bedroom is £375k.

  9. It’s barely affordable when service/maintenance/whatever they feel like levying is taken into account. Those who bought with the shared ownership scheme are screwed.

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