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robiulh

Advice On Giving An Offer On A Place.

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Hi there guys,

A newbie here, would like some advice from the experts on this site. I would like to buy a house in Redbridge, Ilford, good communication routes into the city and near the M11. The thing is houseprices here are way more than what i would call average, seems to be holding onto more than peak prices. I have a hefty deposit, roughly 70k.

The question i have is, u have seen this nice place, where the owner has moved into a home, there is no onward chain. but the asking price is 375k, if the average house is now back down to 2004 levels, would it be cheeky to offer around 240K?

considering the nationwide index for 2004 sahould london semis were 253K.

Any advice would be appreciated.

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Hi there guys,

A newbie here, would like some advice from the experts on this site. I would like to buy a house in Redbridge, Ilford, good communication routes into the city and near the M11. The thing is houseprices here are way more than what i would call average, seems to be holding onto more than peak prices. I have a hefty deposit, roughly 70k.

The question i have is, u have seen this nice place, where the owner has moved into a home, there is no onward chain. but the asking price is 375k, if the average house is now back down to 2004 levels, would it be cheeky to offer around 240K?

considering the nationwide index for 2004 sahould london semis were 253K.

Any advice would be appreciated.

Cheeky, yes, but what have you got to lose?

When you say London semis were £253k in 2004 are you talking about this specific area? I'd look on houseprices.co.uk and see what houses on this exact road were going for in 2004. That will tell you whether £240k might be realistic or not.

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Cheeky, yes, but what have you got to lose?

When you say London semis were £253k in 2004 are you talking about this specific area? I'd look on houseprices.co.uk and see what houses on this exact road were going for in 2004. That will tell you whether £240k might be realistic or not.

Thanks for your response and when i mean London Semis, i mean an average semi price according to Nationwide index for london as a whole.

Also i know i have nothing to lose, will see if it is still around in december and hopefully prices will come down more

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Thanks for your response and when i mean London Semis, i mean an average semi price according to Nationwide index for london as a whole.

Also i know i have nothing to lose, will see if it is still around in december and hopefully prices will come down more

1930s 3 bed semis can vary from £250k - £700k just in my area of London - definitely worth checking prices in that road to get a better idea.

If you are in no hurry I would definitely wait for a while. Prices certainly arent going to go up much in the near future!

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Hi there guys,

A newbie here, would like some advice from the experts on this site. I would like to buy a house in Redbridge, Ilford, good communication routes into the city and near the M11. The thing is houseprices here are way more than what i would call average, seems to be holding onto more than peak prices. I have a hefty deposit, roughly 70k.

The question i have is, u have seen this nice place, where the owner has moved into a home, there is no onward chain. but the asking price is 375k, if the average house is now back down to 2004 levels, would it be cheeky to offer around 240K?

considering the nationwide index for 2004 sahould london semis were 253K.

Any advice would be appreciated.

Use www.zoopla.co.uk to check out what property sold for and when.

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