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I've been interested to see a couple of properties in the local area fail to sell at auction recently. They are in Nunhead, so not the best and not the worst area of SE15. When we moved here 6 months ago EAs were flyering the area saying that houses were achieving record prices, which was probably true... 6 months ago. They appear to be on the way down now.

Not sure what this one is like inside but availale at £265k:

87 Lugard Road

(interestingly was owned by Turkish bank, obviously not on message about keeping properties off the market via shell companies)

This one had a guide of £310, failed to sell and hoping for £300, opposite a tower block:

Caulfield road

Also: Not an auction but stubornly refusing to sell,so reduced from £340k to INXS of £320k:

Lanvanor Road

North of the High St (less desriable) reduced from £330k to £300k:

Astury Road

Nationwide figures yesterday had Southwark in the negative so looking quite crashy round here. :)

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According to the recent Nationwide Quarterly review, prices in Southwark are -3% for each of the last 2 quarters, so can we say they are in "recession"?

Anyway, how do you sell in this economic climate?

If you're in a rubbish part of SE15 you ADD £10k TO THE ASKING PRICE!

If you're in the nice part, you ADD £35K TO THE ASKING PRICE!


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A close mate of mine is an EA for a small independant in London, covering mainly Stockwell, Clapham, Brixton, Peckham and anywhere else they can grab some business. I ask for updates regularly. Last years story was they were keeping afloat purely with rentals and had sold somewhere in the region of 6 properties all year. They were turning down business if the sellers weren't realistic as it was a waste of money and effort even advertising the places. In the last 4 months he's been rushed off his feet with rentals, which is absolutely booming. Sales are dead in the water because the sellers expectations and the buyers expectations simply don't meet.

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