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lmj

Croydon!

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Hey all,

I've noticed there been few posting recently on the lovely area of sunny Croydon, in South London/Surrey. The market here seems to have reach a peak but vendors are unwilling to drop there prices as yet so I'm just wondering where they may go next???

Does anyone remember the crash in such suburbs last time round?

Liam

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The market here seems to have reach a peak but vendors are unwilling to drop there prices as yet so I'm just wondering where they may go next???

Well, down I suppose.

If the vendors want to - y'know - 'vend', that is.

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Hi Liam

I sold a 2 bed flat in Croydon three years ago for £155,000. Six months ago a similar flat in the block went up for sale at £170,000 and in the last couple of weeks another one sold very quickly for £180,000 (reduced from £185,000).

Its amazing these were first time buyer flats six years ago at around £65,000. Now the first rung of the ladder is £180,000 ! I doubt salaries have tripled in the last six years

Good luck with the house hunting.

Regards

Paul

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Aside from asking and selling prices, i checked the land registry information for house sales in the road I used to live.

All of the houses in the street fall into the same mould. 4 bedroom detached with garage integral or joined.

I sold and moved in January 2003 at 265,000. During 2003 and 2004 there were a number of sales increasing to 295,000. Up to October there were 12 sales in 2004. Since, there has not been one sale recorded. I notice my property was listed on rightmove at 325,000 for quite some time earlier this year, although it has been removed now. Perhaps they've given up, perhaps they've sold, subject to contract, or perhaps just relisted with an agent that doesn't use rightmove.

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I've been following the South croydon/Purley market for about 18 months now. We are FTBs and are finding it really difficult to find somewhere that ticks some/most of the boxes for our budget in this part of Croydon. People/estate agents are asking top prices still for shoddy properties on main roads/with trainlines at the back of the garden/having done some slapdash (ie cheap and nasty laminate flooring) DIY etc. The EAs seem surprised when we make low-ish offers or tell them that we consider a property is overpriced and badly located.

Prices curiously seem to have been creeping upwards in the past year, compared with the general state of things stagnating/sliding in other parts of the country! Guess it's just the proximity to London and the shops in the centre of Town?

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Prices curiously seem to have been creeping upwards in the past year, compared with the general state of things stagnating/sliding in other parts of the country! Guess it's just the proximity to London and the shops in the centre of Town?

it's because people who would normally look to areas such as wimbledon and clapham, and are now locked out of those areas, are forced to look further afield.

Edited by Milkshock

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A house in my road in Croydon was up for sale months ago for 189k. It eventually sold last month and I checked Nethouseprices for the final selling price which was 166k. Obviously things are are not as rosy as they seem. :rolleyes:

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it's because people who would normally look to areas such as wimbledon and clapham, and are now locked out of those areas, are forced to look further afield.

Ah, good thinking. Doesn't help us though :( and if they're used to lovely Wimbedon they may well be in for a shock when they see central Croydon on a Saturday night...

There seems to be fewer properties coming on in the 200-300 price bracket as well at the moment (say the past three months or so), which is interesting - even local estate agents have admitted this.

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Ah, good thinking. Doesn't help us though :( and if they're used to lovely Wimbedon they may well be in for a shock when they see central Croydon on a Saturday night...

There seems to be fewer properties coming on in the 200-300 price bracket as well at the moment (say the past three months or so), which is interesting - even local estate agents have admitted this.

Unfortunately, the words "Wimbledon" and "lovely" no longer go together on a Saturday night, either!

I have noticed this effect happening in Kingston and Surbiton(especially) as well. In an area where prices have fallen fairly substantially over the last couple of years, the price of 2-3 bed cottages near the river and station have moved the other way. An ok 2 bed flat that may have been about £245k two years ago would now be about £215k, but these houses have moved from about £275k to £335k+ in the same time period.

Whilst they seem quite expensive to locals, they are very affordable for a couple moving out of a £350k flat in Clapham to start a family.

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  • 302 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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