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StainlessSteelCat

East Ham Hell Holes Going Down

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A couple of 2 bed houses have been reduced to £150K today on Roman Road (yesterday's asking price was £165K).

Seems nobody wants to live on that street anymore (and who can blame them - you are within 10 metres of the A13 dual carriageway and new East Ham/Beckton flyover). Still some optimistic souls holding out for £177.5 on the same street though.

Spot the difference:

http://www.rightmove.co.uk/viewdetails-691...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-770...pa_n=6&tr_t=buy

Personally you couldn't pay me to live that close to the A13 - and it looks like I'm not alone.

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27.K for an extra window? :lol:

OK try this little beauty for 165K. Perfect for stone cladding.

http://www.rightmove.co.uk/viewdetails-395...pa_n=3&tr_t=buy

I have friend who owns around 10properties in Eastham(BTL). They were planning to sell it 6 months ago and got very low offers and decided to hang on it as Olympics going to help with the price(???)

PS: they cut their SKY subscription as cost cutting measure ????

What to say ?

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All I can say is that most of the places I've been viewing are already empty and many bought in the last few years (a couple at peak prices last year). Presumably all with hefty mortgages. I always enjoy the look of shock on the EA/vendors face when I ask why they are selling only a year after buying.

The Olympics is the unknown factor - despite what EAs are saying it doesn't seem to be affecting prices positively in East Ham/Beckton yet. Perhaps there will be a autumn bounce once the news about the Olympics sinks in :) .

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Is it compulsory to have a satellite dish attached to the front wall of all houses in East Ham?

Practically - East Ham has a a highly diverse population (lying within the borough of Newham where the - I think - majority of people are from ethnic minorities). The end result is that most have a dish to watch non-UK TV or football which is also something of a local obsession (Upton park is just 5 mins away).

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The 1st 180K 3 bed house (in many a moon) in East Ham has appeared on Rightmove. Empty of course.

The 2 beds above 180K must be looking a bit expensive now. Particularly as most sold for around half this as little as 4 years ago.

Local Estate Agent rang me up the other day - asked if I wanted to see a 2 bed going for 188K. Said that was way over my budget so there wasn't much point. Couldn't quite bring himself to say they'd take a lower offer - but still offered to send the details through.

Edited by greencat

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According to Hometrack isn't Newham one of the few places where prices are supposed to be going up due to the Olympics effect. I know East Ham is at the opposite end of the borough to Stratford but this is surely a sign that the market is going downhill fast.

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According to Hometrack isn't Newham one of the few places where prices are supposed to be going up due to the Olympics effect. I know East Ham is at the opposite end of the borough to Stratford but this is surely a sign that the market is going downhill fast.

I think prices rose by 0.1% last month - but a lot of that is probably due to Stratford where prices are still pretty crazy (there are no houses under 200K). Lots of lovely(!) new build flats going up alongside Stratford High St (a dual carriageway with no amenities nearby so not terribly desirable location) with one of the projects looking like it might have stalled.

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Anecdote time.

A lot more For Sale signs going up in East Ham now. One short street of less than 40 houses now has 7 signs (including 1 sold).

And solds seem to be steadily increasing too. I would say things are picking up a little although new instructions are a little cheaper than previously.

Is this the last hurrah before winter or has Olympic optimism finally reached East Ham?

Time will tell.

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Anecdote time.

A lot more For Sale signs going up in East Ham now. One short street of less than 40 houses now has 7 signs (including 1 sold).

And solds seem to be steadily increasing too. I would say things are picking up a little although new instructions are a little cheaper than previously.

Is this the last hurrah before winter or has Olympic optimism finally reached East Ham?

Time will tell.

Newham has had the biggest boom of any borough in London, with prices up over 300% from the mid-1990s. A lot of it is down to improved transport at Stratford, but also down to proximity to Canary Wharf, DLR, A13, and some far outlying Docklands 'rejuvenation'. Some of these factors, I think, mean that when prices inevitably fall, they won't fall in the same way that say Waltham Forest or Barking & Dagenham prices will. But it's still way over-priced, mostly unpleasant, crime-ridden, over-crowded (especially traffic near A13), just plain grotty, and all-around poor has fundamentals that a hundred successive Olympic Games will not cure.

The most obvious barometer for a slow-down in property transactions in Newham has been the size of the Newham Recorder's weekly Property Guide, which just six months ago was as thick as the rest of the paper, but is now a slender little thing.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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