EDW Posted June 1, 2011 Share Posted June 1, 2011 I like the terraces near the canal, sadly do not £4m. Quote Link to comment Share on other sites More sharing options...
BentoBox Posted June 2, 2011 Share Posted June 2, 2011 Exactly. Saying you prefer Amwell St / Clerkenwell / Noel Rd or God forbid, the leafy streets in Blairsbury, is one thing. Finding the money is another. Even a 40% HPC probably wouldn't bring that stuff into the budget of a non-banker/lawyer/inherited money type of person. Further out is a nice idea, but even stuff in shitholes like close to Emirates is massively overpriced. The nice bits close to Highbury, likewise. Then you get into Holloway, and there is not much point if the goal was to avoid the grimey parts of southern N1. Quote Link to comment Share on other sites More sharing options...
Neverland Posted June 2, 2011 Share Posted June 2, 2011 When If interest rates go up then London gets hits twice - those with a mortgage who can't make the payments and overseas buyers deterred by a stronger Pound. Corrected that for you... ....but it could be a 12 month plus wait :angry: Quote Link to comment Share on other sites More sharing options...
cool_hand Posted June 7, 2011 Share Posted June 7, 2011 Exactly. Saying you prefer Amwell St / Clerkenwell / Noel Rd or God forbid, the leafy streets in Blairsbury, is one thing. Finding the money is another. Even a 40% HPC probably wouldn't bring that stuff into the budget of a non-banker/lawyer/inherited money type of person. Further out is a nice idea, but even stuff in shitholes like close to Emirates is massively overpriced. The nice bits close to Highbury, likewise. Then you get into Holloway, and there is not much point if the goal was to avoid the grimey parts of southern N1. BentoBox: not saying I can afford those areas - just wanted to point out that if the OP is set on being somewhere central then he could live somewhere, similar location, for similar money and it could be a bit nicer. When I said further out I was meaning somewhere in at least Zone 2 in South East London Quote Link to comment Share on other sites More sharing options...
BentoBox Posted June 7, 2011 Share Posted June 7, 2011 N1 at its best overpricedness: http://www.rightmove.co.uk/property-for-sale/property-33546644.html started 875k (I shit you not!), first lowered to 799k, now to 750k I mean the place looks OK, location is nice, but c'mon. Quote Link to comment Share on other sites More sharing options...
qwerty_qwerty Posted June 10, 2011 Author Share Posted June 10, 2011 Just to let you all know how it went - my offer was accepted (19% below asking price). Thanks for all of your advice - to be honest, I'm really happy with my decision (and the outcome), and can see myself there for a while so I'm not really that concerned about any immediate price falls anymore (though it would be fairly irritating if it happens this year!). Cheers! Quote Link to comment Share on other sites More sharing options...
KingBingo Posted June 10, 2011 Share Posted June 10, 2011 Just to let you all know how it went - my offer was accepted (19% below asking price). Thanks for all of your advice - to be honest, I'm really happy with my decision (and the outcome), and can see myself there for a while so I'm not really that concerned about any immediate price falls anymore (though it would be fairly irritating if it happens this year!). Cheers! Let us know when/if you exchange. Quote Link to comment Share on other sites More sharing options...
cock-eyed octopus Posted June 11, 2011 Share Posted June 11, 2011 You might want to look at my thread, shifted to ' Anecdotals'. I'm not saying you should base any decision on it, but it's another piece of evidence. All I would say is try to look at each house as dispassionately as possible, & assess each one individually. Even in good areas, some houses just aren't worth having. Quote Link to comment Share on other sites More sharing options...
cool_hand Posted June 12, 2011 Share Posted June 12, 2011 Just to let you all know how it went - my offer was accepted (19% below asking price). Thanks for all of your advice - to be honest, I'm really happy with my decision (and the outcome), and can see myself there for a while so I'm not really that concerned about any immediate price falls anymore (though it would be fairly irritating if it happens this year!). Cheers! Has it not crossed your mind that the vendor may of overpriced the property by around 20%? Quote Link to comment Share on other sites More sharing options...
qwerty_qwerty Posted June 12, 2011 Author Share Posted June 12, 2011 Has it not crossed your mind that the vendor may of overpriced the property by around 20%? That's exactly what I think they've done (well, maybe about 10-15% overpriced). I just wanted to let the people who doubted anyone would accept a 20% reduction in N1 know that it is possible. Obviously, it does still have to go through to completion though... Quote Link to comment Share on other sites More sharing options...
arrgee1991 Posted June 15, 2011 Share Posted June 15, 2011 Am I right in thinking that London house prices are likely to remain separate from the rest of the UK (in that they will continue to steadily increase, or at least remain roughly at the same level over the next five years)? No. There are less sales and unless foreign buyers continue to flood into central London with the associated ripple effect the market will fall. It is already happening in popular suburban areas. With reduced housing benefit payments many residents may be forced out of the centre creating a void in one/two bedroom flats, and BTLs trying to sell. London will be somewhat resilient due to a large population and good employment prospects, but it is almost certain that prices will fall over the next five years, especially if wages don't keep pace with inflation. Quote Link to comment Share on other sites More sharing options...
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