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Blackholeshine

Property Hotspots

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Anyone have experience of areas named in these lastest lists of property hotspots?

Nationwide:

http://money.msn.co.uk/mortgages/Insight/d...ots/default.asp

London

http://money.msn.co.uk/mortgages/Insight/d...ots/default.asp

East London and Stratford as always described as an area of investment and in case you'd forgotten the Olympics are coming. Nevertheless despite parts of Stratford being rebuilt and undeniable investment its still a horrible part of East London to live and it does seem that the number of 'for sale' boards are beginning to multiply rapidly after a period when anything would sell. Price drops are in the regions of £5,000 - £15,000 on average I would guess at the moment but only because properties are stubbornly staying on the market for weeks / months at the same asking price.

So if 'property hotspot' means an area full of BTL properties which are now being put up for sale but are failing to sell because the prices are too high and the sellers won't budge then yes, I think East London qualifies at the moment. :D

I get tired of people saying that the Olympics will make East London recession-proof and will ensure that property prices remain high there. Why should this be the case? As one journalist pointed out you also need to be careful what you buy as one of the houses that currently overlooks Hackney Marshes will soon be overlooking the Olympic coach park which will send the value of the property rocketing. It is my personal belief that the market will be completely different by the time we get to 2012 anyway, but there's no telling the bulls. :angry:

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I know of somebody selling a flat in Doncaster close to the new airport mentioned. Went on earlier in the year at the £120,000 it was valued at by several EAs. Ridiculous for a 1-bed in Doncaster, but there you go. Will sell no probs, prices expected to soar because of massive new employment in the area, blah blah (never mind that most new jobs appear to be minimum wage).

Anyhow... sold eventually for £95,000. (errr... isn't that a 21% drop?). Things aren't selling too well it seems.

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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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