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House Price Crash Forum


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About hackney

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  1. In my area of London most properties are going under offer very quickly still (especially strange for winter) and prices rising steadily. These properties are 800-2m. The ones at close to £2m are sticking for longer. I spoke to a friend who knows an agent who sells a lot of £2m+ houses in London however and apparently "business is slow - no one wants to pay the high stamp duty on £2m+ houses". Volumes are dropping though as you say. East London was always behind the rest of the market, hence the reason it's "still going" here IMO.
  2. I think the 2nd property/BTL stamp duty change will cause a distortion in the market between now and April. I think it may further boost prices in the period before the tax increase.
  3. Sealed bids are happening in Hackney on the better properties post-election I have been watching the market and the gentrification is spreading out to E5 in a big way now as most of the stock in E8/E9 appears to be fully priced (£1.9m for a house in Victoria Park!). A friend of mine has been outbid 3 times this month, with 2 of the houses going for £100,000 over asking price. The agents' strategies appears to be to price to invite buyers and then people are bidding blind over the asking price. Who would have thought murder mile is now the hip place for mumsnetters to live! Historically it was a no go: http://davehill.typepad.com/claptonian/gentrification/ http://tylerwetherall.com/2013/12/24/uk-clapton-from-murder-mile-to-hipster-village/ http://www.theguardian.com/uk/2012/jul/07/chatsworth-road-frontline-hackney-gentrification http://www.eastlondonlines.co.uk/2014/02/clapton-frontline-of-class-cleansing-in-the-east-end/ With London Fields now at £1000/sq ft for the good properties I can see Clapton (closer to £500/sq ft) going this way purely correcting against the rest of the local market.. Pretty scary really, and what will it mean for the locals? Poor sods will be booted out to Essex I guess, and new luxury flats built. It's toxic - low supply, high demand, credit tap gushing out money. When will it end? Mark my words, E5 and E3 are the postcodes in London to watch now to see where this heads as they are the traditionally worse areas of Hackney & East London. These should be the first to crash if we have a wobble.
  4. Not a UKIP voter but Douglas Carswell is bl**dy great. Need more politicians like him and I'm actually really glad he's still in parliament.
  5. You think that's mad, but check this one out. Must be the most overpriced sale in Hackney: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=30843876&sale=52540265&country=england&referrer=soldPriceResults
  6. To be fair, while all London prices are overheated and have been for years now, Hackney was behind so the hackney increases are a correction to some degree (ie in line with other crazy prices in London). Hackney's a lot nicer place to live than say Kensal rise etc, and close to the city.
  7. Lol - thanks for posting that Venger! Funny thing is I was thinking this could happen where people start to "see value" in Chelsea or something
  8. Maybe, but if the dip is like last time then it's not much of a dip. I hope it's different this time =)
  9. "Hackney experienced the highest monthly increase with a 2.1% increase". As I noted from my own research thank you very much.
  10. Families want to live out of central London. Nothing related to the bubble.
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