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House Price Crash Forum


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About Sylvester83

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  1. mmh.. yes feels dodgy... flats get sold fast.. I saw new build being made in the year I've been here and now completely sold with people moved in end of last year. But I see your point in all those new flats not holding their value in the future. The area is anyway becoming very busy, you can see during the rush hours rivers of people coming from all directions. There are developments like TNQ which are not even in Colindale as they are 30 minuts away from the station, those yes are really silly things.. probably only investors from China are buying there. Around the station area it feel
  2. I was wondering if you think the new regeneration scheme that is now building in the area behind Beaufort Park will be able to get rid of the Grahame Park stigma. I've been offered a 1 bedroom for 250k (off-plan completion due May 2015) located 5 to 10 minutes from the station. Just behind on the other side of the road, in Beaufort Park, they sell 1bed for 320k (off-plan completion due in 2017!!). It looks like a brilliant offer. The flat is on two floors (entrance ground floor - bathroom, kitchen living room, 1st - bedroom 2nd) is that maybe why is down-priced? will it be difficult to sell
  3. I will definitely make those question on launch day. Thanks for mention it
  4. Thanks for your reply, much appreciated. the fact that I will need a much smaller mortgage (25% of the full value rather than 80-75%) balances the thing though, doesn't it?
  5. yes maybe I should consider it... I am just used to the north and the north seems less urban. Any area you would suggest in particular?
  6. reading this forum one can get the idea that soon the bubble of house prices will crash and that buying now is for idiots who would get massively in-debt for peanuts. Do you think then that buying a shared ownership is a better strategy? It would be possible to buy a 25% share with a mortgage, buying another 25% per cent just after few months with the cash I would have used for the deposit in a normal purchase.. then I could just wait for the crash to happen so that I can buy the other 50% at lower price since the price is chosen at the current market value. if the crash does not happen I
  7. Hi Thanks for your comment. Why are you so convinced that investors are no longer interested? I would like to believe it, but it does not look like it to me. It is time for another story I can add to my diary ... I was really intention to buy in Bellevue Bow 07/2014 Bellevue bow is an council tower (24storey) renovated to "luxury" spec. behind Bow Road Station. Unfortunately my lender said in advance they would not have borrowed for a building with more than 7 storey. So demoralized I went to the launch late and the queue was massive already, something like 100 people. 22 of the 24 on
  8. Hi Venger thanks to participate. what do you mean exactly? that the debt I would have to repay is anyway more than a rent I'd pay in a lifetime? Oh yes I well know the GunMakers Wharf 09/2013... I had booked in for a the Sunday after the release to view the flat and probably buy a 1bed for 320k... unfortunately the Saturday they called me to say they were all gone. And the same happened at the second release.. unbelievable. In that year was absolutely crazy. But you see for a new built I would have happily paid as you are sure not to have nasty surprises or short leases with extra expens
  9. true.. but maybe even if it gets up to 2k a month, I'd still do it because it is 2k that I am investing in a house I am going to own rather then spending a 1k a month in the rental bin. The problem is if interest get so much high that I can't afford it and I loose the house.. but to get at this stage it requires a combination of: -interest rate sky rocketing to more than 2.5/3k a month (is that really possible?) -me loosing the job -House market falling so that I am not able to resell the house -Impossibility to rent for a fair price that covers the mortgage repayments Isn't a bit of a
  10. Thanks for your help I live in Colindale Pay 1040 plus bills 80k Deposit 32 years old I am Italian and lived here for 4 years If I buy a house for 320k I would pay less then my current rent and live in a better area! That is for the first two years of fixed rate.. then god knows. But the truth is that my pay would allow me to cope with higher digits. Unfortunately I am a contractor so even if it looks pretty good now, there is always the chance I will have to commute outside London one day to keep working. @Veteran you are right, it is a gamble.. and that is why I never did it so fa
  11. hi, I've been looking for 2 years, but never really been able to spend all of that money for the crappy London quality. Obviously I regretted.. the usual.. if only I had bought two years ago.. I feel it very unnatural to indebt myself that much for such a small flat.. but I love London.. I got the deposit.. so why keep on wasting in rent and inflation? I therefore decided to post my attempts so that with your comments I can maybe finally make the big step or convince me that is better not to. Went today to see this property in Bow: http://www.zoopla.co.uk/for-sale/details/35190545#yXsBST
  12. still not quite convinced from new built though.. they look nice the first few years.. but then? maybe better a conversion Is not Bow Quarter which I agree are fake one Bed... more sort of strangely proportioned studios. This is a new development between Cardigan Road and Roman Rd.
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