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Is anyone looking in the north London area? For some time now I've been looking to buy in & around the N1,5,6,7 area. Having watched HP's literally rocket through the second half of 2009 & early 2010 due to limited supply & strong bidding from buyers, things finally appear to be on the turn. Houses seem not to be selling after weeks or months of marketing & stock levels are rising. Prices however remain stubbornly high despite the lack of buyers. I'm told sellers are very reluctant to reduce prices or consider offers regardless of the market - that's frustrating!

Casting my mind back to 2007 houses then often went under offer in hours - that's definitely not the case now but some asking are higher than that supposed peak period - especially from Foxtons & similarly bullish agents...

What are your observations...?

Edited by architect

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Is anyone looking in the north London area? For some time now I've been looking to buy in & around the N1,5,6,7 area. Having watched HP's literally rocket through the second half of 2009 & early 2010 due to limited supply & strong bidding from buyers, things finally appear to be on the turn. Houses seem not to be selling after weeks or months of marketing & stock levels are rising. Prices however remain stubbornly high despite the lack of buyers. I'm told sellers are very reluctant to reduce prices or consider offers regardless of the market - that's frustrating!

Casting my mind back to 2007 houses then often went under offer in hours - that's definitely not the case now but some asking are higher than that supposed peak period - especially from Foxtons & similarly bullish agents...

What are your observations...?

I'm not looking in this area but I recently spoke to a chap who has just bought a house in N4. Sale agreed at £775k but when the mortgage company vallued it they stated £725K. His wife is due to give birth in 2 weeks so he just stumped up the extra cash as he will be living there for a least 10 years.

It is a 4 bed terrace and to be fair if it was somewhere like Middlesborough would prob cost about £30k.

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Is anyone looking in the north London area? For some time now I've been looking to buy in & around the N1,5,6,7 area. Having watched HP's literally rocket through the second half of 2009 & early 2010 due to limited supply & strong bidding from buyers, things finally appear to be on the turn. Houses seem not to be selling after weeks or months of marketing & stock levels are rising. Prices however remain stubbornly high despite the lack of buyers. I'm told sellers are very reluctant to reduce prices or consider offers regardless of the market - that's frustrating!

Casting my mind back to 2007 houses then often went under offer in hours - that's definitely not the case now but some asking are higher than that supposed peak period - especially from Foxtons & similarly bullish agents...

What are your observations...?

I own a 2-bed flat in a converted Victorian house in N6 (Highgate side of Archway Rd and not very far from the tube station so nice-ish) that I bought in early 2001. I am getting married next month and would very much like to move somewhere a bit bigger. In the "non-billionaire Russian oligarch" sector of N6 things are definitely very slow indeed. My downstairs neighbour in the decent but smallish 3-bedroom garden flat tried to sell for about 18 months with very little interest and only accepted an offer just before Xmas after dropping the asking considerably (duh) from 550k to 500k and eventually to somewhat below 500k. As an aside, he is a moderately notable journalist on a national paper and, until I started schooling him, he was constantly trotting out a line to me about how good it was that his flat had increased in value. He now seems to understand the problem, especially since he has agreed to pay 750k for a 4-bed house with no garden in East Finchley and recently sat in my living room with his head in his hands saying, "I've made a classic recession error. I can barely afford the new mortgage and if interest rates go up I'll be completely screwed." He now understands that EVERYONE except rentier leaches would have been better off if prices had not inflated so ludicrously.

For what it's worth, my plan is to rent a house in E Finchley or Muswell Hill and rent or sell my place.

Other relevant anecdotes:

- My just-married brother-in-law has a 2-bed overlooking Islington Green. He has had it on for about 650k for many months and almost no interest at all; certainly no offers. I have told him he is insane and should drop the price considerably but he keeps telling me that he "isn't giving it away". Sigh.

- My sister has accepted an offer on her 2-bed in West Hampstead after dropping the price from 550k to 480k. She paid 130k in 1996...

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Is anyone looking in the north London area? For some time now I've been looking to buy in & around the N1,5,6,7 area. Having watched HP's literally rocket through the second half of 2009 & early 2010 due to limited supply & strong bidding from buyers, things finally appear to be on the turn. Houses seem not to be selling after weeks or months of marketing & stock levels are rising. Prices however remain stubbornly high despite the lack of buyers. I'm told sellers are very reluctant to reduce prices or consider offers regardless of the market - that's frustrating!

Casting my mind back to 2007 houses then often went under offer in hours - that's definitely not the case now but some asking are higher than that supposed peak period - especially from Foxtons & similarly bullish agents...

What are your observations...?

I live in N19 in the triangle formed by Holloway Rd, Tufnell Park Rd and Junction Road (I've coined the Estate Agent-esq phrase the Tufnell Park Triangle - at least £5k on the price! :P ). I bought a 2 bed with roof terrace in 2006 and are in the classic quandary of needing more space 3/4 bed but don't have 650k despite my place having risen considerably in value. I keep a constant watch on the N19, N7, N6 and N4 areas and my observations are as follows:

- in the last 6 months very little has come on the market in my specific area plus 1/2 a mile. Within my area I put this down to families with lots of equity staying put in houses they probably bought for feck all 10 years ago which are now probably worth £650k+ (the exact places I'm am looking for). A quick rightmove search daily shows very little of interest me.

- 2 bed places like mine or without terraces / gardens go on the market, drop in price slightly (to something more sensible for the area) then sell. Good quality places seem to go SSTC quickly, but others can hang around, particularly when the second 'double room' is the classic 6'x9'. I also believe that a lot of places are having issues in terms of the mortgage valuation, hence prolonging sales.

- rents remain ridiculously high. I rented a fantastic 2 bed in the more popular N1 area on Florence St in 2004 for £1500 a month (£2200+ now); rents in good 2 beds in my area are starting to approach this, particularly with outside space. I don't even entertain the thought of renting a 3+ bed place- frightening!

- hate to use the supply / demand argument, but I'm afraid it rains true for good quality places in my area (period / conversion not new build filth like around Holloway Road tube / Islington refuse centre :lol: ) Demand in the area will remain high for 1/2 beds from YPs and the question is when (if?) supply will increase ( forced sales, IR rising etc) for 3/4 bed places I'm after.

Yes I am lucky to have tons of equity, a low tracker mortgage and a nice place to live but the issue for me is that I'm as 'priced out' as everyone else as its impossible to move somewhere bigger in my area. I'm now looking at the Brockley area where you can still get a Victorian terrace for less than £500k and still do a rear and loft extension, the east London line and 8 mins to London Bridge by train is also great, but its still scummy south London! :P

Be also interested in anyone else's experience within the area

Edited by SEW247

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Hi and thank you for your replies, it's interesting to have other perspectives.

It's fair to say I made a mistake selling my place in 2009; I obviously didn't anticipate the impending inflationary spike that seemed to have begun the day I handed over my keys. Since then there has been little real opportunity to buy back in - the sense of missing the boat and new tough lending conditions can be wearisome.

Thinking about what's happening now. There are more houses for sale in N5 than there's been for a very long time; the result of a slow trickle of sub million pound houses coming to market but not finding buyers, but not reducing their prices. I would agree that N6 & N19 are also very slow.

I wonder if some vendors simply cannot sell for less, pressured as they are to raise equity in lieu of a larger mortgage that would previously have been readily available.

Perhaps the time has come to get out there and make some offers...they can only say no!

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Hi and thank you for your replies, it's interesting to have other perspectives.

It's fair to say I made a mistake selling my place in 2009; I obviously didn't anticipate the impending inflationary spike that seemed to have begun the day I handed over my keys. Since then there has been little real opportunity to buy back in - the sense of missing the boat and new tough lending conditions can be wearisome.

Thinking about what's happening now. There are more houses for sale in N5 than there's been for a very long time; the result of a slow trickle of sub million pound houses coming to market but not finding buyers, but not reducing their prices. I would agree that N6 & N19 are also very slow.

I wonder if some vendors simply cannot sell for less, pressured as they are to raise equity in lieu of a larger mortgage that would previously have been readily available.

Perhaps the time has come to get out there and make some offers...they can only say no!

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I own a 2-bed flat in a converted Victorian house in N6 (Highgate side of Archway Rd and not very far from the tube station so nice-ish) that I bought in early 2001. I am getting married next month and would very much like to move somewhere a bit bigger. In the "non-billionaire Russian oligarch" sector of N6 things are definitely very slow indeed. My downstairs neighbour in the decent but smallish 3-bedroom garden flat tried to sell for about 18 months with very little interest and only accepted an offer just before Xmas after dropping the asking considerably (duh) from 550k to 500k and eventually to somewhat below 500k. As an aside, he is a moderately notable journalist on a national paper and, until I started schooling him, he was constantly trotting out a line to me about how good it was that his flat had increased in value. He now seems to understand the problem, especially since he has agreed to pay 750k for a 4-bed house with no garden in East Finchley and recently sat in my living room with his head in his hands saying, "I've made a classic recession error. I can barely afford the new mortgage and if interest rates go up I'll be completely screwed." He now understands that EVERYONE except rentier leaches would have been better off if prices had not inflated so ludicrously.

For what it's worth, my plan is to rent a house in E Finchley or Muswell Hill and rent or sell my place.

Other relevant anecdotes:

- My just-married brother-in-law has a 2-bed overlooking Islington Green. He has had it on for about 650k for many months and almost no interest at all; certainly no offers. I have told him he is insane and should drop the price considerably but he keeps telling me that he "isn't giving it away". Sigh.

- My sister has accepted an offer on her 2-bed in West Hampstead after dropping the price from 550k to 480k. She paid 130k in 1996...

I live in East Finchley - it's dull as ditchwater. Probably why I can afford to rent but not buy the small maisonette I live in.

Sorry that's not very encouraging of me is it.

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I live in East Finchley - it's dull as ditchwater. Probably why I can afford to rent but not buy the small maisonette I live in.

Sorry that's not very encouraging of me is it.

Sometimes dull is OK! I think it's partly a question of your stage of life etc. We're in nesting mode and plan to have kids soon. Also I have lots of friends in the area and my family are close by. I will miss Highgate though. Even if it doesn't have any proper shops or restaurants.

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  • 312 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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