Viewers of Location, Location, Location were left stunned at London property prices when a couple paid £25,000 over their budget for a three-bed house in Lewisham.
Software product managers Jess and Zach were renting a home from Jess’ parents, and with the sale of Zach’s home in Sheffield they’d managed to amass a hefty deposit, which with their mortgage took them up to a budget of £700,000.
They had spent two years viewing over 60 properties, but their search was being hampered by their checklist – including a garden that gets the sun, a home near a park, a property they can extend, and a private workspace.
Ultimately, the couple decided to pay £725,000 for a refurbished Victorian terrace house in Crofton Park, a residential suburb in south east London, with viewers slamming the show for featuring ‘unrealistic’ first time buyers.
Software product managers Jess and Zach left Location, Location, Location stunned after paying £25,000 over their budget for a three-bed house in Lewisham
They had spent two years viewing over 60 properties, but their search was being hampered by their checklist – which included a bedroom to use as a private workspace for Zach. Pictured, the home’s master bedroom
The couple loved the kitchen (pictured) in the refurbished Victorian terrace house in Crofton Park and were thrilled that it needed no renovation
‘The London property market is comical’, wrote one.
Another said: ‘700k budget and you’re struggling to find a 3 bed in South London #LocationLocationLocation. Can we get more realistic first time buyers on the show.’
‘Just your usual pair of first-time buyers, with budgets of £700,000 and – the cheapskates – £550,000. We really are quite mad.
‘Wish #Locationlocationlocation showed more realistic first time buyers in London. £700,000?!’
The second bedroom faced the road, located in a residential suburb in south east London. But Jess and Zach weren’t deterred by the noise
Jess was keen on a garden which caught the sun. Speaking ahead of moving in, Jess said: ‘I’d like to look at the garden, maybe put some decking at the back so you can get the sun for an extra ten minutes’
Pictured, the third bedroom which Zach says is ‘quieter’ than other bedrooms in the home and plans to turn into his workspace
Property princes in London are nearly twice the national average, while prices in the last year have soared seven per cent.
The first property viewed by the couple was a ground floor flat in Honor Oak a suburban area principally of the London Borough of Lewisham, with part in the London Borough of Southwark.
A two minute walk from the park and with a north facing garden, the three bedroom house, which ‘needed some TLC’, was priced at £585,000 which Jess was ‘impressed’ with.
‘This garden is very nice, it looks like it gets the sun all way, she said. ‘It looks like a good first property, but i’m not sold on Honor Oak Park, it’s a bit out the way’.
Their second property was in East Dulwich, near Peckham Rye park, which was believed to hit the market for £695,000.
Viewers slammed the show for showing ‘unrealistic’ first time buyers and said tat London’s property prices are ‘comical’
The two bed home was the first floor of a Victorian conversion, It was originally built with three bedrooms so there was scope to create an office space. It featured a private garden, however the current owners had combined theirs with their neighbours to create a bigger space.
Despite being £5,000 under their budget, Jess wasn’t keen on the ‘cramped space’ and shared garden.
Eventually, the couple decided on the third property, and even considered going above the asking price before offering £725,000.
Speaking ahead of moving in, Jess said: ‘I’d like to look at the garden, maybe put some decking at the back so you can get the sun for an extra ten minutes.’
Zach added: ‘I get the smaller quieter room at the back of the house, but there’s potential Jess might get the larger bedroom as an office.’