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House Price Crash Forum


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Everything posted by bndh

  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?
  16. In fact, that is 5% of their workforce that left in one month. Incredible !! As problems are getting worse I think this rate will increase. Maybe by the end of June only 50% of their workforce would be left.
  17. Well I guess I was right thinking that Foxtons is not doign very well: http://www.thisislondon.co.uk/news/article...cuts/article.do New figures have revealed that dozens of staff have quit jobs at Foxtons, one of London's most lucrative property shops. At least 63 staff left the company in February alone following poor sales figures.
  18. Have a look at nethouseprices.com. Do a search by postcode (not full but N1 for example) and then on the next page select the last month / 3 months etc in the Sale Date box
  19. Actually - Barratt seems to do stramnge things. Instead of lowering prices on some developments they have increased prices on the development near me. These were orriginally starting at £240k then last week they have increased it to starting from 290k. I think the prices are so high , so that if someone offers 20% less they will still mak a profit. http://www.barratthomes.co.uk/ViewDevelopm...62-b23db49a7987
  20. I noticed this morning that Foxtons have now removed all their listings from findaproperty.com and they are now all listed on the rightmove site.
  21. Hi I have just had a look at the number of properties completing sales (Land Registry) in E8 during January. And only 7 properties have sold. When I look at December, 24 have been completed, November had 28, October had 46. Sales are definatly dropping very fast. How did we go from 46 sales completed in October to 7 sales completed in Jan. Seeing that 242 properties are currently listed for sale, I wonder how long will it take for the current listed stock to be sold. To look at what has been happening in your area go to http://www.houseprices.co.uk/ and type in the first part of the post code you want to investigate.
  22. Well at least on Rightmove we can track when they drop their prices using property bee (Transparancy at last!!). For this I am glad. Foxtons threatened propertysnake with legal action to remove the listings from the site so it will be interesting to see how they will hide the fact that asking prices are dropping now. I wonder if they: 1. Will remove listings when a price change and then add them as new listings 2. Somehow ban the use of Propertybee 3. Convince Rightmove not to share this data anymore. Watch this space..... I guess we will find out how many Foxtons EA's are reading these boards by seeing how quickly they act on this post. It will be getting more and more difficult for them to hide the facts.
  23. Here is some proof that they are hiking up prices. Two almost identical properties in the same development but a huge price difference. http://www.findaproperty.com/displayprop.a...p;agentid=04125 http://www.findaproperty.com/displayprop.a...p;agentid=05137 No wonder they are struggeling to sell properties.
  24. London, E8 http://www.findaproperty.com/displayprop.a...p;agentid=05158 -> Droped from £450k http://www.findaproperty.com/displayprop.a...p;agentid=05158 -> Dropped from £475k -> this has been on the market for more than a year. http://www.findaproperty.com/displayprop.a...p;agentid=02848 -> Dropped from £475k http://www.findaproperty.com/displayprop.a...p;agentid=01557 -> Was under offer and now back on the market http://www.findaproperty.com/displayprop.a...p;agentid=01557 -> Been on the market for more than 6 months -> So they have decided to list a neighbouring one -> http://www.findaproperty.com/displayprop.a...p;agentid=05137 http://www.findaproperty.com/displayprop.a...p;agentid=05158 -> Dropped from £575k http://www.findaproperty.com/displayprop.a...p;agentid=05158 -> Dropped from £560k -> Been on the market for 6 months + http://www.findaproperty.com/displayprop.a...p;agentid=02307 -> Dropped from £575 -> been on the market though another agent for 6+ months http://www.findaproperty.com/displayprop.a...p;agentid=02307 -> This one sold in 2005 for 250k and every year later for 100k more????
  25. I have seen Foxtons lower the prices of some properties (by 10% or more), but this data is not reflected on propertysnake. Why are they able to get away with this?
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