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wildrover

Sold My Kt House

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Hi all been lurking for a while but just sold my house ( Surrey Kt postcode area still needs new bathroom and new windows re-dec etc) on market since Oct 09 - Sold for 13.3 % below list price this month..... reading on here I feel glad to have sold when I did ...but still that nagging worry .. the house next door identical (but finished) sold for 23% more than I've just sold mine in Aril '07..

Do we think the KT area has hit its lowest yet? 23% from 07 is a fair whack?!!

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Hi all been lurking for a while but just sold my house ( Surrey Kt postcode area still needs new bathroom and new windows re-dec etc) on market since Oct 09 - Sold for 13.3 % below list price this month..... reading on here I feel glad to have sold when I did ...but still that nagging worry .. the house next door identical (but finished) sold for 23% more than I've just sold mine in Aril '07..

Do we think the KT area has hit its lowest yet? 23% from 07 is a fair whack?!!

The KT area has a massive range of different areas within it. Areas like Chessington & Tolworth are completely different from Kingston & Surbiton, and they are different again from Esher & Cobham. The prices in these areas are very different, so rises and falls are likely to be vary as well.

23% from 2007 to 2009 is a massive fall, but no more than most other areas of the country. Some will say that this is the trough, others will say there is more to fall, but most agree that there won't be any significant rises for sometime, so I would not worry too much that you have done the wrong thing by selling.

In terms of recovery, it is difficult to say whether this area will increase faster or slower than others. In my part of the area (Surbiton), I get the impression that this boom in prices has pushed a lot of people out from areas like Wimbledon. This could mean that prices fall for a while longer here than in those areas closer in as this type of buyer goes back there as it is (relatively) more affordable again.

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The KT area has a massive range of different areas within it. Areas like Chessington & Tolworth are completely different from Kingston & Surbiton, and they are different again from Esher & Cobham. The prices in these areas are very different, so rises and falls are likely to be vary as well.

23% from 2007 to 2009 is a massive fall, but no more than most other areas of the country. Some will say that this is the trough, others will say there is more to fall, but most agree that there won't be any significant rises for sometime, so I would not worry too much that you have done the wrong thing by selling.

In terms of recovery, it is difficult to say whether this area will increase faster or slower than others. In my part of the area (Surbiton), I get the impression that this boom in prices has pushed a lot of people out from areas like Wimbledon. This could mean that prices fall for a while longer here than in those areas closer in as this type of buyer goes back there as it is (relatively) more affordable again.

thanks Worried 1 I'm in Berrylands myself....which HP pre-explosion was a relatively reasonable place price wise to live ....however 400k for a basic 3 bedroom is still very high to me ...there is not a lot for sale at the moment and this has kept prices up in the last few months.....I wonder what will happen after the spring /summer buying time?

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thanks Worried 1 I'm in Berrylands myself....which HP pre-explosion was a relatively reasonable place price wise to live ....however 400k for a basic 3 bedroom is still very high to me ...there is not a lot for sale at the moment and this has kept prices up in the last few months.....I wonder what will happen after the spring /summer buying time?

There must be an element of pent-up supply. A lot of people are waiting for prices to recover to 2007 levels before putting their house on the market. This can't last forever, and once a few more forced sellers come onto the market many of these people are likely to follow.

This is going to have a big effect on areas with a large concentration of similar property types - e.g. 3 bed semis in Berrylands, 1/2 bed flats in central Surbiton.

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