You are about to be horrified. Foxtons coming to Rye Lane

[strae]

If memory serves, they got a similar reaction when they opened in Brixton, and look what happened there...

In any case, feels like Foxton's is a symptom rather than the cause,:their arrival (if it happens) confirms what has been happening already, as opposed to being the reason for it.

Agreeing a 2 or 3-year let on the chance that the area sees an upsurge in interest would seem like a canny decision if only 1 out of 3 new branches work out given the difference between prevailing rates available pre and post "gentrification"....

[LondonMix]

Peckham Rye is already pretty gentrified in its own way. Lots of new shops, its own market, great transport links have been developed, the station is being redeveloped, and the housing is basically the same price as ED. I am surprised that people are surprised...

[Nigello]

I am not surprised it is coming, but I do think it just a tad "previous" to coin an old-fashioned use of the word.

Just look at the rate of change in many places off Rye Lane and understand that Foxton's is going for a place that's best placed for footfall and - probably - cheapish rents for its latest venture. In the same way that Lordship Lane itself isn't the place people want to live, but in the surrounding area, people won't really want to live on Rye Lane but in the streets off it instead, so the location of the estate agent's itself is not that relevant.

The pace of change is quicker than in SE22 but this part of SE15 is starting from a lower base. Give it a couple of years or so and the whole area from Dulwich Library down to its Peckham equivalent will be much more of a muchness.

[SteveUK1978]

You might not like buying from them, but some people must use them as they make a lot of money. Suspect there is a silent acceptance of their tactics as a seller when it means you get 10% more for your property. Very vocal complaints from buyers when they are getting bent over.

Suspect they have a very specific formula for where new places open up - P Rye is hardly a secret any more so I imagine it is part of the calculated master plan.

[Louisianna2012]

Just another move to homogenise the area and price local and everyday people out of a vibrant, wicked place to love.

Wish theyd stay away personally!

[Blackcurrant]

"Foxtons? expansion programme is one of the biggest in the residential sector: it has opened five offices this year at Greenwich, Beckenham, Earls Court, Stoke Newington and Harrow, with another planned for Croydon this summer and at least one at an unnamed location in the autumn. "

http://www.estateagenttoday.co.uk/880-budden-takes-over-as-ceo-of-foxtons

They're going for market share. Meanwhile, their share price halved over the last year, so not everyone is convinced their strategy is going to work.

[SteveUK1978]

Up 23% in the last month - maybe the market likes the to Peckham Rye?

[goosey-goosey]

If memory serves, Foxtons' appearance on LL all those years ago was about halfway through ED's rise from nice-but-ordinary inner suburb to trendy "destination". It wasn't an early indicator of things to come. The Clapham crowd (sorry for the clich?) had already discovered the area by then. Am I right? On that basis a new office in Peckham might prompt a couple of new coffee shops to open, but it won't signal much more retail development or demographic change.

I might be wrong. If a good bookshop or a delicatessen opens on Rye Lane, I'll eat my hat.

[Seabag]

I reckon it's more to do with people flow

The recent upgrade to transport makes joined up sense. It's just easier to get to the area now, and the Ginger line brings a flow of affuluence among its commuters. Canary Warf, Shoreditch and the likes are now easy peasy for those who work there.

A bit like snakes & ladders: Priced out of Hackney? then slide down the line to Peckham, Penge, Brockley, even Sydenham

I accidentally got on the wrong train from Shoreditch yesteday and ended up at Queens Town Road. You know the place, the one with the trendy bakery and the craft ale Beer Rebellion bar, where I got a black cab from right outside the station

Yer, whoooo'd have thought it. It's all change and it ain't going backwards

[titch juicy]

Foxtons on Rye Lane or McDonalds on Lordship Lane

which would be worse?

[goosey-goosey]

Yeah, maybe, Seabag. And I guess Peckham has more potential for property development than ED. Hence Foxtons' interest. I'll fetch my hat.

[OutOfFocus]

Seabag Wrote:

-------------------------------------------------------

> They're in Crystal Palace too

>

Which used to be a stationery shop run by my great grandfather. It was empty - gutted when I found it was as foxtonified

[Mustard]

Seabag Wrote:

-------------------------------------------------------

> I reckon it's more to do with people flow

>

> The recent upgrade to transport makes joined up

> sense. It's just easier to get to the area now,

> and the Ginger line brings a flow of affuluence

> among its commuters. Canary Warf, Shoreditch and

> the likes are now easy peasy for those who work

> there.

>

> A bit like snakes & ladders: Priced out of

> Hackney? then slide down the line to Peckham,

> Penge, Brockley, even Sydenham

>

> I accidentally got on the wrong train from

> Shoreditch yesteday and ended up at Queens Town

> Road. You know the place, the one with the trendy

> bakery and the craft ale Beer Rebellion bar, where

> I got a black cab from right outside the station

>

> Yer, whoooo'd have thought it. It's all change and

> it ain't going backwards

Is affulence like clean effluence?

[Blackcurrant]

SteveUK1978 Wrote:

-------------------------------------------------------

> Up 23% in the last month - maybe the market likes

> the to Peckham Rye?

Or the new Croydon branch. Onwards and upwards.

[worldwiser]

It's the number of KFH branches that I can't fathom and they're just as aggressive and bellendy as Foxtons. They've been on Rye Lane for ages so I guess Foxtons has decided they can't have all the fun to themselves.

[Cyclemonkey]

That is very true worldwiser. I was reminding myself that despite the fits of the vapours over Foxtons moving in there have been KFH and Acorn offices in Peckham for many many years.

I think the impression is that Foxtons are only interested in the upper end of the market so them moving in is seen as an indication of house prices going stratospheric. Having said that when i was looking last year Foxtons had the same parade of poorly treated ex council places that everyone else had.

[Jeremy]

CM - probably because Foxtons like to project a corporate/high-end image. Even when in fact they're playing the same game as everyone else, staffed by the same breed of clueless gelled-hair dipshits.

[Cyclemonkey]

That's true Jeremy When i was renting i never registered with Foxtons as i always assumed the flats they let were not for the likes of me. However when i started renting in South East London 15 years ago Foxtons wouldn't have touched most of this area!

[Otta]

Jeremy Wrote:

-------------------------------------------------------

> CM - probably because Foxtons like to project a

> corporate/high-end image.

Really?

I always thought they were the "Daily Star" option.

[DulwichFox]

I'm not that concerned about Foxtons on Rye Lane or anywhere else for that matter.

I do think the space they occupy on Lordship Lane may well of been put to better use.

I.E. 100 Seater Pizza Palace.. :)

Foxy

[StraferJack]

is it time to resurrect the "c***aquarium" phrase yet?

[Louisa]

I was reliably informed the Dulwich Foxtons site was a close bidding war with Nandos. Just think, we could have had chicken and chips instead of b@llshit and hair gel by now.

Louisa.

[Cyclemonkey]

Ha Ha - Tw*t Palace was our phrase.

[jimbo1964]

StraferJack Wrote:

-------------------------------------------------------

> is it time to resurrect the "c***aquarium" phrase

> yet?

Yes please.

[lesalden]

Do we need any more Estate agents? What about the council policy of at least 50% retail in 100 metres. Or will this be fiddled again ("we remeasured it") like Cafe Nero in LL.

As for Foxtons I was surprised they can get away with a business model which charges two and a half times their competitors.