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tulipz

Falls In Bromley...

15 posts in this topic

Hi All,
As some of you already know, we 've been trying to buy a home. I've been extensively researching the web and scanning for properties in my area. I've been closely following properties within 1mile of bromley south station...what I just noticed is, in the last few days, a LOT of properties have gone from 'SOLD STC' to Available....also asking price for many came down by atleast 10k (for properties in the range 270k to 340k) .... It'll be interesting to watch what'll happen in near future!

-Tulipz

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Huh, interesting. That is pretty much exactly the area I am look at, except I am also considering Bickley and Shortlands on the same line.


I note that while volumes are continuing to fall 55 properties sold in April and 17 in May the prices are pretty sticky, I figure in the area we are looking we may have to wait a good year or so to get what we want, £10k here and there is nice, but still a decent order of magnitude away from the £30k-£60 fall we are going to need in your (and mine) price range.


Perhaps I will see you at a viewing before long.

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[quote name='KingBingo' timestamp='1315775615' post='3114883']
Huh, interesting. That is pretty much exactly the area I am look at, except I am also considering Bickley and Shortlands on the same line.


I note that while volumes are continuing to fall 55 properties sold in April and 17 in May the prices are pretty sticky, I figure in the area we are looking we may have to wait a good year or so to get what we want, £10k here and there is nice, but still a decent order of magnitude away from the £30k-£60 fall we are going to need in your (and mine) price range.


Perhaps I will see you at a viewing before long.
[/quote]

Hey, good to hear from you. We are considering Shortlands and Pettswood as well. How is Bickley compared to these? All I know is, Bickley is further down homesdale road.. I hate that road up to Tesco...so didnt bother...

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Bickley is the expensive bit where all the £1m+ properties are. Probably won't end up there.

Really I want a short walk every morning to Bromley South, although those properties have a serious mark up.

Looking at the stats on RM I have found there has been no real crash, with volumes and turnover holding up well, the change was May when volumes dropped as I said above, very much looking forward to the June and July figures to see if the crash has really started in Bromley. That will be when the EA's start leaning on vendors to lower prices.

Perhaps we are already there, and that's why they are doing the price falls you mention, we can only hope.

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Offered asking price for a property between Chiselhurst and Bromley (sundridge) but someone beat me too it and i was unwilling to pay over the odds. Am looking for a property in this area up to 500k within walking distance or quick bus route to Elmstead Woods.

Prices seem to be where they were in 2007 in contrast to Greenwich where I currently live where they are at all time highs.

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Can I hijack this thread with my question.

Are there some bad parts of Bromley that need to be avoided. I've always regarded Bromley as one of the nicer bits of London but have noticed that (like for like) prices are much lower than other places. I know that it has no underground, but that can't be the only reason.

In particular, this area:

http://www.rightmove.co.uk/property-for-sale/property-32900305.html

This went to auction today and didn't even reach the stated price, which to me seems quite reasonable for the location, but perhaps I'm missing something?

TIA

tim

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[quote name='tim123' timestamp='1329415755' post='3263296']
Are there some bad parts of Bromley that need to be avoided.
[/quote]


North of Bromley it starts to get very trashy as you approach Catford, immediately around Bromley North train station is fine, but go too much further and it takes a dive. You can end up in a really nasty white trash area, although further still is a black trash area, both are to be avoided.

The rest of the area (west,south,east) just gets cheaper when its so far from the nearest commuting train station.

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[quote name='KingBingo' timestamp='1333901937' post='909009134']
North of Bromley it starts to get very trashy as you approach Catford, immediately around Bromley North train station is fine, but go too much further and it takes a dive. You can end up in a really nasty white trash area, although further still is a black trash area, both are to be avoided.

The rest of the area (west,south,east) just gets cheaper when its so far from the nearest commuting train station.
[/quote]

OK thanks.

I need to be reasonably close to a rail station (though not for commuting). Flats in the town centre are prohibitive (400K and up) and I was surprised at the rate of decrease for only a mile away

tim

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[quote name='tim123' timestamp='1333974340' post='909009649']
I was surprised at the rate of decrease for only a mile away


[/quote]


Exactly,

If I go an extra mile out on my budget for the same money I get: Garage + big driveway, extra bedroom, double sized garden, extra downstairs room.

OK so every day I need to factor in 2 extra 5 minute bus trips, but I think I would rather have the space.

The only other thing you need to remember about south Bromley, is that you can expect a lot of those open spaces to be developed over the next ten years, so remember that before you buy a place with a field behind it and cough up a premium for it.

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[quote name='KingBingo' timestamp='1335080643' post='909019564']
Exactly,

If I go an extra mile out on my budget for the same money I get: Garage + big driveway, extra bedroom, double sized garden, extra downstairs room.

OK so every day I need to factor in 2 extra 5 minute bus trips, but I think I would rather have the space.

The only other thing you need to remember about south Bromley, is that you can expect a lot of those open spaces to be developed over the next ten years, so remember that before you buy a place with a field behind it and cough up a premium for it.
[/quote]

So is this location OK?

This price looks good as well

http://www.rightmove.co.uk/property-for-sale/property-21885054.html

(if it doesn't work, It seems to be off the road opposite the football ground)

tim

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[quote name='tim123' timestamp='1335113765' post='909019843']
So is this location OK?

This price looks good as well

http://www.rightmove.co.uk/property-for-sale/property-21885054.html

(if it doesn't work, It seems to be off the road opposite the football ground)

tim
[/quote]

Have you seen the price history on property bee?

[quote name='property bee']
25 March 2012

Brief Description changed: [s]Cash buyers wanted for this [/s]A stunning two double bedroom split...
Price changed: from '£175,000' to '£184,995'

16 February 2012

Initial entry found.
[/quote]

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[quote name='tim123' timestamp='1335113765' post='909019843']
So is this location OK?

[/quote]


As far as I know, although have not been to that particular bit.

Certainly going to be nicer than an awful lot of London.

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[quote name='tim123' timestamp='1335113765' post='909019843']
So is this location OK?

This price looks good as well

http://www.rightmove.co.uk/property-for-sale/property-21885054.html

(if it doesn't work, It seems to be off the road opposite the football ground)

tim
[/quote]

NO! The area around letchworth drive looks pretty shady. There is a large block of flats in that area that looks very council-ish....

Look on the other side of westmoreland road. Very nice area.

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[quote name='tulipz' timestamp='1335211865' post='909020671']
There is a large block of flats in that area that looks very council-ish....


[/quote]


I gather from his rightmove link that he won't be able to see the large block of flats from where he was thinking of....because he will be in it.

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OK thanks everybody.

So it seems that price is the key here.

If it's 200K and below the area's rubbish, even if there are other reasons (presumably a short lease) for the low price

tim

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