Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

About sunama

  • Rank

Contact Methods

  • Website URL
  • ICQ

Profile Information

  • Location
    Harrow, Middlesex
  1. That one is in London, albeit a mile away from the nearest tube station. So, 2 bed flat for £205k seems about right. I think that that it is ex-council, so that might put a lot of people off. If it was closer to a tube station I have no doubt it would sell quickly, but a lot of people would be put off by having to walk 15 mins to it. Todays house price climate is strange. Obviously prices are stagnating or falling slightly around the country, but London did make good gains last year. However, London prices did fall during the end of 2007, so it really is a difficult time to accurately predict where London prices are right now and where they are heading in the short term.
  2. If they really were "desperate", they wouldve chased the market down. Although they have reduced the price, they arent chasing it down fast, to get a sale. Furthermore, their desperation wouldve forced them to knock down the price until it sold as they might need the funds badly. The fact that they havent and are living in the property that they are supposed to be selling, says a lot. Oh, and at the right price, in London, anything will sell. Their intial asking price was ridiculous and that in itself said, "Well We want £650 and not a penny less. Anything less and we wont bother selling. We're not desperate."
  3. I think they have pretty much resigned themselves to living there. And now that they have lived there for quite some time, they probably have an emotional attachment to the place, which means they are less likely to sell it at a knock down price, as they mightve, had they not been living there. This would explain why they are being so stubborn with the price. They've probably reached a point where they arent keen to sell the place. Another point to note is that since they have been living there for quite some time, they might actually need to refurbish the place, to bring it up to scratch, for a top sale.
  4. That bedroom is literally a room to place your bed in. Its very tight space wise. When I was looking for a place to buy 2 yrs ago, I remember seeing a lot of similar properties, whereby space was very tight and rooms were being converted/split into 2. Doing this was allowing the vendors to increase the asking price.
  5. I think what you are getting with that bungalow is a lot of land. In theory, there is no reason why someone couldnt knock that bungalow down and build a substantial 2/3 storey house in its place.
  6. I think somebody started doing some work to it and then must've abandoned it. I have no idea how that thing could be "refurbished", unless you get planning permission to demolish it and in its place build a small resedential dwelling.
  7. I cant believe that these people are happy to continue waiting for a huge offer, rather than getting realistic and reducing the asking price. All the while that the property stays unsold, they are probably living in it and making it look older. This will mean that the house loses its sheen and probably loses value and looks less attractive. On top of which they are probably paying a massive mortgage on the place, while they wait for its sale. If they were smart, they wouldve attempted a sale price of say £1.1M and accepted a price of around £950k. When your newly refurbished property in London is not selling for weeks on end, you know that something about it isnt right and for the most part this can be solved (and be made more attractive) by lowering the price. Do these property developers not understand this or have I got it wrong? When I was buying a place in London in Nov/Dec 2005, the London market was moving fast. Thats just how London is. You have to be quick. Generally, if a property in London is correctly priced, then it will sell quickly. And by quickly I'm talking 10-14 days.
  8. After all this time has passed, the house still isnt sold. This is shocking for London. The developers themselves must know that if a London property isnt shifting quickly, then their pricing is totally wrong. I'm surprised that they still havent picked up on this. Meanwhile every month that goes by, they will need to pay the interest on their loan they would've used to pay for this house. They must surely be losing money on this, on a monthly basis. OR perhaps they are living in the property or have let it out until it gets sold, hence are not in a hurry to sell?
  9. No. But over the last few years, people on this forum have taken many news stories (just as you are now) and saying, "This is it. Its here." The only difference now is that the news stories are different. If you look back on this forum to Oct 2006, you will see similar predictions stating that the HPC has begun because of NewsStory1, NewsStory2 and NewsStory3. Subsequently, when someone states, "Hang on, there is no HPC." That comment is met with much vitriol (just like the 2 replies above this post), stating that a HPC takes time.
  10. Yep. Alot has happened - I'll give you that. But still no HPC.
  11. Thats the sort of thing that was said on this forum for the last few years. Much is promised but nothing but HPI is delivered.
  12. Agreed. If you look at http://www.housepricecrash.co.uk/index.php#statistics you will see that uk average house prices have risen in 2007. House Price Statistics - UK National Source website.........................................Annual Change (%) FT House Price Index (Acadametrics)................8.80 Halifax House Price Index................................10.70 Home.co.uk (England and Wales)......................5.90 Land Registry Monthly Report............................9.40 Nationwide House Price Index...........................9.00 DCLG House Price Index..................................11.40 Rightmove House Price Index...........................10.40 Being objective, we have to say there is no house price crash. In some of the minds of the people who post on this forum, there is indeed a crash happening. In fact it started this year, and the year before and the year before that, but statistically, house prices have continued their incredible ascent, year after year. Even interest rates rises couldnt stop this ascent. Dont even get me started on London's house prices.
  13. OIC. Thats Leyton/Leytonstone area. Its a very central location, about 15mins from Liverpool St. Properties in that area should be quite easy to rent out. I, myself, was trying to buy a property back in late 2005. My first choice was Loughton. I love the fact that it has a country side setting and is only 30mins away from Bond Street. The problem I found was that in that area there were very few 1-bed properties in the area at the time. Most of the properties there are for families and not for single people. I liked a property in Hainault, however, I was told by a good friend of mine that there were problems with chavs in that area. As it was my first property, I didnt want to take the risk. In the end I bought a place in Harrow on the Hill, which lacks the countryside setting, but has all the amenities located withing a 5 minute walking distance. The only new build flats I ever viewed were in the Docklands/Beckton area. I was shocked at the poor quality (small windows, no windows in bathrooms, small rooms, low ceilings, no character) and the fact that everything looked very "dinky"; they lack the solid feel of a period home. Add to the fact that they are grossly overpriced in comparison to their "resale home" counterparts and I quickly understood that new-build was not the way to go.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.