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Sibley's Love Child

Tracking The Falls In Rm8, Rm9 & Rm10

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This isn't meant to be self-indulgent but rather (and hopefully) a reliable indicator of vendor sentiment in my watch area.

I currently have around 80 properties (two/three bed terrace) on my Rightmove watch-list in the Dagenham area (with Property Bee, natch) and the general consensus seems to be down and, more importantly, nothing selling despite these reductions.

Similarly to Dandandan's anecdotal thread on his experiences of the housing market, I hope this may be a panacea to those who fear the crash isn't happening.

However, if you think that this is a pointless exercise i'm happy to desist.

In the meantime, i'll update should there be any reductions on the RM listings, as and when.

Anyway, as of today:

http://www.rightmove.co.uk/property-for-sa...y-22243078.html?

History

date event

05 June 2009

* Price changed: from '£139,995' to '£134,995'

21 May 2009

* Initial entry found.

http://www.rightmove.co.uk/property-for-sa...y-12061251.html?

History

date event

05 June 2009

* Price changed: from '£142,950' to '£135,950'

06 May 2009

* Title changed: from 'Dagenham' to 'Dagenham, Essex'

28 March 2009

* Price changed: from '£149,950' to '£142,950' [Found by n/a]

27 February 2009

* Initial entry found. [Found by BC2K3]

What spring bounce?

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I suppose given the deluge of 'positive news' in the media, there hasn't been much downwards movement on Property Bee as vendors stick to their guns. Nevertheless, this is the most recent reduction. Well, not much of a reduction but every little helps.

http://www.rightmove.co.uk/property-for-sa...y-22307110.html?

History

date event

18 June 2009

* Price changed: from '£149,950' to '£144,950'

04 June 2009

* Title changed: Romsey Road, Gardens, Dagenham, Essex, RM96BL RM96BH

29 May 2009

* Initial entry found. [Found by n/a]

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My partner sold her 2 bed ex council terrace in Dag in 07, and got £157k for it. Identical house on opposite side of the street is now for sale for ....................................£175k.

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My partner sold her 2 bed ex council terrace in Dag in 07, and got £157k for it. Identical house on opposite side of the street is now for sale for ....................................£175k.

Absolutely nuts, the 'For Sale' sign will have rotted by the time that sells.

Seriously, I know you doubted previously that house prices would reach the <100k mark (as I had hoped) but I still remain optimistic. My Righmove watchlist is now almost a 100-strong and nothing is shifting. Unsurprisingly, twitchy vendors are beginning to cut their asking prices.

I suppose by 2010 we'll see who was right, but here's to hoping....

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Are we nearing the end of the spring bounce? Who knows, much less care; in the meantime here's two more reductions today (yes, I know they're both naff but it's all about setting the new - lower - benchmark isn't it?):

http://www.rightmove.co.uk/property-for-sa...y-21013300.html?

History

date event

19 June 2009

* Price changed: from '£124,995' to '£117,995'

* Status changed: from 'Available' to 'Sold STC'

01 May 2009

* Price changed: from '£129,995' to '£124,995'

01 March 2009

* Price changed: from '£134,995' to '£129,995' [Found by patch3228]

05 February 2009

* Price changed: from '£129,995' to '£134,995' [Found by dsuk]

03 February 2009

* Initial entry found. [Found by zcbts64]

http://www.rightmove.co.uk/property-for-sa...y-22582079.html?

History

date event

19 June 2009

* Price changed: from '£149,950' to '£135,950'

13 January 2009

* Price changed: from '£154,950' to '£149,950' [Found by Oscarbom]

* Subtitle changed: from '2 bedroom terraced' to '2 bedroom terraced house ' [Found by Oscarbom]

13 November 2008

* Price changed: from '£164,950' to '£154,950' [Found by nruprai]

14 August 2008

* Initial entry found. [Found by nruprai]

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I suppose given the deluge of 'positive news' in the media, there hasn't been much downwards movement on Property Bee as vendors stick to their guns. Nevertheless, this is the most recent reduction. Well, not much of a reduction but every little helps.

http://www.rightmove.co.uk/property-for-sa...y-22307110.html?

History

date event

18 June 2009

* Price changed: from '£149,950' to '£144,950'

04 June 2009

* Title changed: Romsey Road, Gardens, Dagenham, Essex, RM96BL RM96BH

29 May 2009

* Initial entry found. [Found by n/a]

Thats a shithole , and all that tape over the bathroom fixtures , boiler etc. usually means it's a repossesion , looks a prime candidate for a auction imo where it should find it's real value of below 100k .

Crap like this and the other two you put up should really take a hit of at least 40% from peak ........

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Thats a shithole , and all that tape over the bathroom fixtures , boiler etc. usually means it's a repossesion , looks a prime candidate for a auction imo where it should find it's real value of below 100k .

Crap like this and the other two you put up should really take a hit of at least 40% from peak ........

Oh don't get me wrong, I fully agree. It's no coincidence that most of the properties on my watch-list in my price range are either bereft of internal pics (indicating a shitehole) or gauging by their pics, repos or 'distressed'. My hope is that once the crap reaches their real value, the decent property will follow.

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What isn't there to like about Dagenham - having your own personal BNP councillor must be great for prices.

True, it's hardly utopia but compared to Elephant & Castle it's definitely a step up.

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One more though it's obviously a probate and only by a laughable amount but nevertheless a drop anyway:

http://www.rightmove.co.uk/property-for-sa...y-22509562.html

History

date event

27 June 2009

* Price changed: from '£147,995' to '£144,995'

18 June 2009

* Initial entry found. [Found by n/a]

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Quick update and the newest addition is another repo; seems to be a theme on my watch list. Check out the back garden pic; all that's missing is a lunar module. Still, dropping 10k over the course of a couple of months is a step in the right direction:

http://www.rightmove.co.uk/property-for-sa...y-21977188.html

01 July 2009

* Price changed: from '£134,950' to '£129,995'

21 May 2009

* Price changed: from '£139,950' to '£134,950'

21 April 2009

* Initial entry found. [Found by n/a]

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Guys, I live in RM10.

I bed ex-council flats like mine reached a peak of about £135k just before the crash, now they are on the market for about £90k.

I have noticed over the last few months that properties that have been on the market for over a year have actually sold, although I don't know the prices involved. There was a bungalow near Dagenham East station which has recently sold, it was on the market since Feb 08.

There are worse places in London to live, I would say, at least it's clean and airy here (17 parks - nice ones too), it's the demographic that's the problem, and the big tower block estates, where even the police won't go. Some parts of RM10 are quite nice, big detached houses backing on to parkland.

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Cheers for the input Muffy, it's always good to get anecdotal information. Like you, i've noticed that a few houses have sold though these are replaced with new listings which hopefully means this area won't be prone to stagnation. The in-laws live in Hornchurch though I don't think that prices there and Rainham will fall as hard so Dag it is.

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Cheers for the input Muffy, it's always good to get anecdotal information. Like you, i've noticed that a few houses have sold though these are replaced with new listings which hopefully means this area won't be prone to stagnation. The in-laws live in Hornchurch though I don't think that prices there and Rainham will fall as hard so Dag it is.

Well Hornchurch is terribly posh in comparison to Dagenham! Just had the new local Council newspaper through my door today, headline is that Dagenham ranks lowest in London in a new poll on 'most desirable place to live'. It seems that 58% of people questioned in Dagenham said that they'd prefer to live somewhere else, which was the highest percentage of anywhere. But of course, being a council newspaper, the article merely quoted residents saying how wonderful the schools were, how many leisure centres there are, etc etc.

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Well Hornchurch is terribly posh in comparison to Dagenham! Just had the new local Council newspaper through my door today, headline is that Dagenham ranks lowest in London in a new poll on 'most desirable place to live'. It seems that 58% of people questioned in Dagenham said that they'd prefer to live somewhere else, which was the highest percentage of anywhere. But of course, being a council newspaper, the article merely quoted residents saying how wonderful the schools were, how many leisure centres there are, etc etc.

To be honest, this sentiment will work in my favour when we do decide to buy. The thing that amuses me is that Dag is hardly bloody Beirut is it? Where I live now Elephant & Castle is a proper shite-hole and moving out in a three-five mile arc; Camberwell, Peckham, Lewisham, Brixton, Stockwell (all shite-holes). Oh well, to each their own.

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Before anyone points out, yes I know this new listing is another shite-hole; I am fast becoming accustomed to this theme on my watch-list. The most interesting thing about this listing is - as far as I can tell - that it has set a lower benchmark for other properties in the area. In the two years i've been watching this area, 110k is the lowest asking price for a two/three bedroom terraced house in Dagenham/Barking area:

http://www.rightmove.co.uk/property-for-sa...y-25619669.html?

History

date event

19 July 2009

* Price changed: from '£119,950' to '£109,999' [Found by n/a]

28 May 2009

* Status changed: from 'Sold STC' to 'Available' [Found by n/a]

20 May 2009

* Status changed: from 'Available' to 'Sold STC' [Found by n/a]

09 May 2009

* Initial entry found. [Found by n/a]

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This one's a few miles outside my watch-list radius though I thought I would include it for humour's sake; I think i'll entitle it 'how to chase the market down':

http://www.rightmove.co.uk/property-for-sa...y-17229830.html?

History

date event

21 July 2009

* Price changed: from 'Offers in Excess of £140,000' to 'Offers in Excess of £130,000'

03 March 2009

* Price changed: from 'Offers in Excess of £150,000' to 'Offers in Excess of £140,000' [Found by n/a]

04 October 2008

* Price changed: from 'Offers in Excess of £160,000' to 'Offers in Excess of £150,000' [Found by n/a]

27 July 2008

* Price changed: from 'Offers in Excess of £170,000' to 'Offers in Excess of £160,000' [Found by n/a]

09 June 2008

* Price changed: from 'Offers in Excess of £180,000' to 'Offers in Excess of £170,000' [Found by n/a]

22 April 2008

* Price changed: from '£189,995' to 'Offers in Excess of £180,000' [Found by n/a]

17 February 2008

* Initial entry found. [Found by n/a]

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One more for the records, though in the description the EA mentions a Corporate client; is this indicative of a repo anyone?

http://www.rightmove.co.uk/property-for-sa...y-25777982.html

History

date event

30 July 2009

* Price changed: from '£149,995' to '£139,950'

20 May 2009

* Initial entry found. [Found by n/a]

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Greetings, thought you'd be interested to know that there is some kind of new development of ''apartments'' being built over the back of what used to be allotments, just behind some houses on Rainham Road South. It's back behind the houses that are just before the park starts but after the stadium. Sorry I can't be more specific, was too gobsmacked to take down the details, I spotted it from the top deck of the 103 bus this afternoon on way to the Civic Centre, couldn't believe that someone would be optimistic enough to start building! They've cleared the land and there's a big billboard, I don't think it's Barratt but I'll have to have another look when I go past again.

It seems to have been very popular around here to knock down a couple of houses to make way for a little slip road to then access the old allotment land behind the houses to build flats on. It's a shame for those in the houses who always viewed the allotment area as being a guarantee of a little bit of privacy at the back of the house (and somewhere to grow veg of course).

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Greetings, thought you'd be interested to know that there is some kind of new development of ''apartments'' being built over the back of what used to be allotments, just behind some houses on Rainham Road South. It's back behind the houses that are just before the park starts but after the stadium. Sorry I can't be more specific, was too gobsmacked to take down the details, I spotted it from the top deck of the 103 bus this afternoon on way to the Civic Centre, couldn't believe that someone would be optimistic enough to start building! They've cleared the land and there's a big billboard, I don't think it's Barratt but I'll have to have another look when I go past again.

It seems to have been very popular around here to knock down a couple of houses to make way for a little slip road to then access the old allotment land behind the houses to build flats on. It's a shame for those in the houses who always viewed the allotment area as being a guarantee of a little bit of privacy at the back of the house (and somewhere to grow veg of course).

Thanks Muffy, I was just tooling around Rightmove when I came across this listing:

http://www.rightmove.co.uk/property-for-sa...y-25184792.html

I supsect it is this development that you're referring to?

Goldfinch Place

Two bedroom apartments available at a 35% share from £46,375

The approx monthly rental charge will be from £197.37

Based on a Full Market Value of £132,500 .....

What a load of codswallop when you could get a two-bed maisonette in Rainham for 90k:

http://www.rightmove.co.uk/property-for-sa...ty-8810364.html?

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Thanks Muffy, I was just tooling around Rightmove when I came across this listing:

http://www.rightmove.co.uk/property-for-sa...y-25184792.html

I supsect it is this development that you're referring to?

Goldfinch Place

Two bedroom apartments available at a 35% share from £46,375

The approx monthly rental charge will be from £197.37

Based on a Full Market Value of £132,500 .....

What a load of codswallop when you could get a two-bed maisonette in Rainham for 90k:

http://www.rightmove.co.uk/property-for-sa...ty-8810364.html?

No, I don't think it is this one to be honest - at least if their map is anything to go by. Their map shows this development as being at the bottom end of Rainham Road South, a few streets from where I live, although to be honest I haven't noticed anyone building anything remotely like this near me.

The development I saw is basically still just a muddy access road leading onto the old allotments behind some houses, just before you get to the south end of Central Park. It has a 'Persimmon - apartments coming soon' billboard outside.

I'll be going past it again tomorrow I'll try to get the exact location - it might be the one you listed if their map is a bit squiffy.

And that looks like a very nice little property in Rainham!

Edited by Muffy

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Did you guys see the block of flats that was half built on the old A13 (Wennington side next to the old cafe), that was recently burnt down? Hmm, only half built... strange I thought in a recession...

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Did you guys see the block of flats that was half built on the old A13 (Wennington side next to the old cafe), that was recently burnt down? Hmm, only half built... strange I thought in a recession...

I'll leave that for Muffy to answer as I don't live in the area, yet.

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