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House Price Crash Forum


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About Devina

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  1. I spent the last three months hunting for apartments in Central London (even NW where you live Shark) and found that the Royal Arsenal build is tonnes better than any new build apts in those areas. Forgetting the location for one moment, it is easily the best apartment I have seen anywhere in London. So guess what, finally buying the same apartment and moving in soon. A crash of 10% may come this year, but its still better than paying rent and making someone else get a fat pocket!! Wonder how RA buyer is doing??
  2. Hi RA buyer, The apartment I was talking about is on Argyll Road. It is a 2 yr old building. Armouries is brand new and has a very high-end finish to all the rooms. I didn't go fo Armouries only because it does not have great river views. What price are you planning to put in? I dont think you will have much negotiation room for Armouries because it's a brand new development and I guess you will be buying straight from the builders. All in all, I believe RA has been immune to the price drop compared to other parts of SE London.. but you never know do you :-) Devina
  3. Hi, I have put in an offer on a 2-bed pad in Royal Arsenal, Woolwich for 305,000 and voila it got accepted (they had asked for 345,000!). This massive drop amazes me. There could be only one reason - there's a major fall expected in the near future! To me, these are the negatives: 1. Woolwich as an area is, well, not that safe or interesting! 2. There's DLR construction going on in the area and can be dusty, noisy, disturbing (and the price of the dlr had already been factored into the first sale price) 3. There's a major housing crash coming up, and East London is one of the areas that are going to be deeply affected But I see a lot of good things too! (else why would I put in the offer right?) 1. Great river views and partial views of the canary wharf skyline 2. Easy access to river boats, just a 10 mnt walk to train station 3. Historical development (and beautifully kept grounds), making it slightly resistant to a crash 4. Decent size for the price compared to, lets say, Greenwich and Royal Docks What do you think are the real problems with the location and the development? Anyone has any experience buying a property at Royal Arsenal?
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