[the_duke_of_hazzard]

dnjc, on 27 December 2010 - 12:58 PM, said:

That is the reality of things - crazy prices. I was a bit fed up whenI had to rent another place, as no joy with the search, but now feel quite secure and more flaxed than in a long time. Just watching the market slowly fall.

It doesn't seem to be in high-end Dulwich. But I don't think I'll ever be buying there in any case. We'll need more room when the kids get older and a three bed place will be prohibitive. Unless we get banker-geddon (which I'm praying for).

[luvadealme]

As someone who is considering buying in the area I thought it might be a good idea to rent in the area for 6 months first, can anyone recommend a particular part to get the best feel of the place (or do one of those 'draw a search' things you get on rightmove)

How much would it cost for a good sized 1 bed or 2 bed flat to rent?

[SHERWICK]

luvadealme, on 02 February 2011 - 04:32 PM, said:

As someone who is considering buying in the area I thought it might be a good idea to rent in the area for 6 months first, can anyone recommend a particular part to get the best feel of the place (or do one of those 'draw a search' things you get on rightmove)

How much would it cost for a good sized 1 bed or 2 bed flat to rent?

Take a look at the East Dulwich Forum to get an idea (or you could try the more boring West Dulwich Forum). Note that neither of these areas is the 'high end' Dulwich Village - I'm not sure if that has a forum...

[the_duke_of_hazzard]

I've been tracking the supply of properties to buy and rent in SE21 and SE24 since October. Interestingly, the supply dropped before Christmas and then rose again in January.

Now, strangely, the supply of properties in SE24 has dropped sharply, and SE21 has gained ground. I'm not sure why this might be, but it's quite marked.

[the_duke_of_hazzard]

There are now 102 2bed+ properties in SE21 on Rightmove for sale. Supply has steadily increased since last year. 100 is a bit of a landmark - last summer it was around 50-60, and that had been fairly typical for a while.

[Fairies Wear Boots]

What do people make of that last Andrews Robertson auction results? Does it look like prices are softening?

[SHERWICK]

Fairies Wear Boots, on 17 April 2011 - 08:11 PM, said:

What do people make of that last Andrews Robertson auction results? Does it look like prices are softening?

Haven't looked at Andrews Robertson, but can't see any softening myself where I live in ED.

[the_duke_of_hazzard]

Supply of property to buy over SE21 and SE24 is at a high (at least since the middle of last year) based on Rightmove figures.

It'll be interesting to see what happens after the Easter weekend.

Rentals in SE24 are at a long-time low.

I've also spotted this today, which seems relatively cheap:

http://www.rightmove...y-33635213.html

This post has been edited by the_duke_of_hazzard: 20 April 2011 - 08:31 AM

[SHERWICK]

the_duke_of_hazzard, on 20 April 2011 - 08:27 AM, said:

Supply of property to buy over SE21 and SE24 is at a high (at least since the middle of last year) based on Rightmove figures.

It'll be interesting to see what happens after the Easter weekend.

Rentals in SE24 are at a long-time low.

I've also spotted this today, which seems relatively cheap:

http://www.rightmove...y-33635213.html

Looks nice - I wonder how many sq ft it is and how big the garden is (can't tell yet from the website)...

[the_duke_of_hazzard]

the_duke_of_hazzard, on 20 April 2011 - 08:27 AM, said:

Supply of property to buy over SE21 and SE24 is at a high (at least since the middle of last year) based on Rightmove figures.

It'll be interesting to see what happens after the Easter weekend.

Well, after the Easter and bank holiday weekend "buying frenzy" the number of properties in SE21 has ticked up. And fairly sharply, recently.

Supply of rentals has plummeted. There are only 15 2bed+ rentals on rightmove in SE24 right now!

I think we're looking at crashy crashy towards the end of the year in SE21/SE24 for property prices.

[SHERWICK]

the_duke_of_hazzard, on 06 May 2011 - 07:03 AM, said:

Well, after the Easter and bank holiday weekend "buying frenzy" the number of properties in SE21 has ticked up. And fairly sharply, recently.

Supply of rentals has plummeted. There are only 15 2bed+ rentals on rightmove in SE24 right now!

I think we're looking at crashy crashy towards the end of the year in SE21/SE24 for property prices.

And God knows that they NEED to crash! There's some crap semi-detached 1930s property on Underhill Rd on for £1 million right now - it's worth about half that at a stretch!
(I know it's SE22 but still, what a joke).

[dnjc]

SHERWICK, on 06 May 2011 - 01:26 PM, said:

And God knows that they NEED to crash! There's some crap semi-detached 1930s property on Underhill Rd on for £1 million right now - it's worth about half that at a stretch!
(I know it's SE22 but still, what a joke).

I am out of the market at the moment. The rents are great around SE21/24, why bother buying I say. Do keep a daily track on WD/ED/HH though and they are pretty much as high as they have ever been. Totally stalled. I am hoping for a few agents to go down the pan though!

[Boon]

the_duke_of_hazzard, on 06 May 2011 - 07:03 AM, said:

Well, after the Easter and bank holiday weekend "buying frenzy" the number of properties in SE21 has ticked up. And fairly sharply, recently.

Supply of rentals has plummeted. There are only 15 2bed+ rentals on rightmove in SE24 right now!

I think we're looking at crashy crashy towards the end of the year in SE21/SE24 for property prices.

The problem is that prices won't crash unless buying demand AND rental demand are both low. The reason goes back to the free markets theory - if rents are rising because of lack of supply, there will come a point when the rental yields of the property approaches high enough that investors will start buying those properties and converting them into rentals.

So unless supply in the rental market eases up and rents start to fall as well, it will keep supporting property prices at some level. Rents in London have gone up about 10% over the past year or so, and judging by the lack of rentals on the market and increase in letting agents around, it seems like rents might keep increasing - thereby making property a more attractive proposition to BTL investors.

[the_duke_of_hazzard]

Boon, on 09 May 2011 - 07:12 PM, said:

The problem is that prices won't crash unless buying demand AND rental demand are both low. The reason goes back to the free markets theory - if rents are rising because of lack of supply, there will come a point when the rental yields of the property approaches high enough that investors will start buying those properties and converting them into rentals.

So unless supply in the rental market eases up and rents start to fall as well, it will keep supporting property prices at some level. Rents in London have gone up about 10% over the past year or so, and judging by the lack of rentals on the market and increase in letting agents around, it seems like rents might keep increasing - thereby making property a more attractive proposition to BTL investors.

There's at least two problems with that argument:

1) There's a perfectly efficient market in property

2) The level of yield

I think there's a more efficient market in flats. They get bought and rented out for the income stream, sure.

But I sincerely doubt many 3-4-5 bed houses are being bought for the purpose of being rented out in SE21/4. The yield is laughably low, unless they're not factoring in upkeep and voids.

[the_duke_of_hazzard]

http://www.rightmove...y-34202297.html

7-bed Victorian-looking house in a bad state.

Any thoughts on this one? Even at 375K it looks cheap.