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House Price Crash Forum


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About bndh

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  1. 32 - live in E8 London. Bought first place in 2002 also in E8 for 230k, sold that for 350k in 2009. Bought current flat for £450k and did some work on it (it was a mess) - recently valued at 650k. Would like to buy a house but the ones I like are 1m+ so it it just not affordable I put between £4k - £5k a month in my savings. Outstanding mortgage is about 300k and monthly payments is 1.7k
  2. Replying to my own post duh ... I meant 3 beds going for £600k not 2 beds
  3. Have noticed that to in E8. Everything is selling and prices are rising quite quickly. All decent stock is sold in a matter of days. 2 Bed garden maisonettes in good roads selling for 600k.
  4. Foxtons came to value my flat recently and they valued it at the lowest price out of 3 agents. Looking around at what is on the market I thought they were pretty acurate actually. Looks like things have changed
  5. Right about the N1 border market (E8). Prices seem to up probably 30 - 40% since lows. Flats and houses are now achieving 500-650 per sq feet in London Fields. And any decent property is going under off in a matter of days. Is this sustainable? It looks busier than the boom times. Sealed bids, group viewings are back. What is going on?
  6. Got the same feeling when I was looking around on Saturday. Looking at Rightmove allot of properties have recently gone under offer. I know it does not mean sold but it does indicate that a number of people are interested.
  7. Lilly did not actually go though with the purchase. "Scaring Mummy and Daddy" - I am sure they can find better ways of doing that. But you are right the mix of people living here now is what made Islington, Notting Hill etc become "the next place" to live. Only time will tell if it lasts.
  8. Agreed ... considering that another one in the building sold in '05 for 250k and is now on the market for 550k. Don't see any sense in that.
  9. The flats we were talking about is pretty big converted warehouse apartments. The ones in marcus123's building that are on the market for those prices range between 1700 - 2100 sq feet. Probably bigger than your house probably. They are bigger than the 5 bedroom Victorian houses in the area which now days is on the market for 700k plus. Actually a 2000 sq feet house sold the other day for 900k.
  10. Doesn't look like there is allot of movement. I have seen agents doing some strange things where properties have been put on for sale and let. Then suddenly they change the status to "LET OUT" and on the selling page they would say "UNDER OFFER". Maybe with some properties being advertised as "UNDER OFFER" they are trying to instill some confidence. Academy apartments? Very nice warehouse flats. 3 More in the building have been for sale for ages. Two of them for more than a year. BTW the Foxton's one is with another agent for 50k less. Only 3 properties worth more than 400k have sold in E8 over the past 3 months. There is probably no harm getting some valuations and putting it on the market.
  11. Yes, you cannot make a comparison of two completely different things claiming that they are essentially the same. I am not saying prices are justified but the flat did not loose 100k in value in the past 6 months. This guys was comparing apples and oranges.
  12. No, not exactly. The one for 400k is on two floors and only two beds whilst the 500k one is 3 floors with 2 beds and a seperate study (on mezz.). There has allways been a price difference of 50k between the two types in the past. The two may be similar in size but the layout of the 400k one is not as good as the 500k one. The one on the market at the mo. for 499k in the same development is more similar to the 500k flat in your example.
  13. Nonsense ... South Africa is having huge problems in their property market. Houses which sold for £100k last year are now selling for 80k. Since the new credit act has been introduced money is not very atainable.
  14. Each area is diffrent. Monitor the property websites, use Property bee and see for yourself. I don't think anyone would be able to give you an acurate figure. It really depends on what area you are looking at. Some areas have not really starting falling yet, some have. Those that have also varies. Some may have fallen by 15% whilst others are only down by 0.15%.
  15. Interestingly I saw that only 35,417 mortagages were approved last month. According to Rightmove 200,000 properties are put up for sale each month. I know that some buyers are paying cash. For arguments sake say there were 35,500 cash buyers last month. This means that only 70,915 properties are sold each month. So basically 65 % of all properties that go on the market are not being sold. As the months go on the percentage of unsold properties will increase (65% of this months + 65% of next months sales). Are there any figures that says how many properties are put up for sale against those that are sold? With so many properties not being sold how far will prices drop?
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