tpsman Posted August 20, 2014 Share Posted August 20, 2014 Some friends have recently put their very nice but small 2-bed flat on the market in muswell Hill. Asking price 360k, received two offers around the 320k mark, but no room for negotiation. Hasn't been a case of single day viewing herds with sealed bids. They bought it 2.5 years ago for 250k. Is this the start of the crash in muswell hill/Highgate? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 20, 2014 Share Posted August 20, 2014 Some friends have recently put their very nice but small 2-bed flat on the market in muswell Hill. Asking price 360k, received two offers around the 320k mark, but no room for negotiation. Hasn't been a case of single day viewing herds with sealed bids. They bought it 2.5 years ago for 250k. Is this the start of the crash in muswell hill/Highgate? I think it's well document here now what is happening in London. The speculative bubble fuled by FLS/HTB/Russians and the chinese is over. Speculative bubbles dont last long then collapse hard. Caveat Emptor Quote Link to comment Share on other sites More sharing options...
Milkshock Posted August 20, 2014 Share Posted August 20, 2014 Islington.....1 bed on market for 400k - told that vendor will take offers of 375k - after only being on the market a week. A prospective Chinese buyer walked away due to difficulties in getting her money out of China.......... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 20, 2014 Share Posted August 20, 2014 Islington.....1 bed on market for 400k - told that vendor will take offers of 375k - after only being on the market a week. A prospective Chinese buyer walked away due to difficulties in getting her money out of China.......... POP Quote Link to comment Share on other sites More sharing options...
D' reamer Posted August 20, 2014 Share Posted August 20, 2014 SW17 - recently refurbished house after being bough as 'in need of modernisation'. started at £599K; no takers after one week - second agent employed and reduced to £575K. now has 'sold'. still grossly overvalued imo. (first post btw - 'cos it's gettin interestin) Quote Link to comment Share on other sites More sharing options...
Panjang Posted August 21, 2014 Share Posted August 21, 2014 East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly. Quote Link to comment Share on other sites More sharing options...
Milkshock Posted August 22, 2014 Share Posted August 22, 2014 East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly. I assume those are 2 beds? Surely those prices are higher than Muswell Hill itself now? That said East Finchley has a station, I suspect Leslie and Leopold Road are in the Fortismere cachment area, and the bus goes down to Highbury now. Quote Link to comment Share on other sites More sharing options...
Panjang Posted August 22, 2014 Share Posted August 22, 2014 I assume those are 2 beds? Surely those prices are higher than Muswell Hill itself now? That said East Finchley has a station, I suspect Leslie and Leopold Road are in the Fortismere cachment area, and the bus goes down to Highbury now. Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know.. Quote Link to comment Share on other sites More sharing options...
Milkshock Posted August 22, 2014 Share Posted August 22, 2014 Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know.. I have to say the 500k price tag stuns me. What are the rents there - 1500 pcm? That's a 3.5% yield in zone 3. Incredible. Quote Link to comment Share on other sites More sharing options...
Panjang Posted August 24, 2014 Share Posted August 24, 2014 Yes rent around £1500 pcm. To be fair though, they may be asking £525k, but none have actually sold for that. According to nethouseprices, the last one that sold was in June 2013, for £357k. How accurate and uptodate is nethouseprices? If it's accurate, how did asking prices rise by over £150k without any sales (demand)? The whole thing is ridiculous. Quote Link to comment Share on other sites More sharing options...
Bubble & Squeak Posted September 12, 2014 Share Posted September 12, 2014 just done a property-bee search for muswell hill: 229 entries 64 price cuts 2 increases how times have changed... Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted September 12, 2014 Share Posted September 12, 2014 just done a property-bee search for muswell hill: 229 entries 64 price cuts 2 increases how times have changed... And in such a short space of time? Quote Link to comment Share on other sites More sharing options...
Bubble & Squeak Posted September 12, 2014 Share Posted September 12, 2014 And in such a short space of time? i only looked at muswell because a bull on MSE said prices in wood green would go up by 10% in the next year then changed his prediction to muswell hill. would never buy there myself (even if i could)- too many bomads. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted September 17, 2014 Share Posted September 17, 2014 Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know.. I know people in the area, upper end detached, had to slash 10% off their asking price to get a sale. Not sure if that represents a drop in prices for the street or was just a drop in their HPI expectations, but nevertheless I'd watch the top end of the market for first signs of weakening. People are over-extending themselves at the lower end so few who bought in the last ten years can afford to trade up. Quote Link to comment Share on other sites More sharing options...
Panjang Posted September 27, 2014 Share Posted September 27, 2014 East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly. So I first posted on this topic on 21st August - just over one month later, 5 of the original 7 flats on sale have dropped in price by 4.8%. One flat has been added. Yep, prices are dropping... None have sold. Quote Link to comment Share on other sites More sharing options...
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