Jump to content
House Price Crash Forum
Sign in to follow this  
Mog

London N7

Recommended Posts

Things in my neighbourhood that I had noticed on Rightmove:

Four-story victorian terrace, sold for 512K. Asking price was 675K.

Two-bedroom maisonette (with garden), sold for 325K. Asking price was 375K.

One-bed flat whose sale fell through three times (board went for sale -> sold -> for sale -> sold -> for sale -> sold, now for sale), asking at first 175K now asking 170K.

For the first two, I confirmed the sale prices using www.nethouseprices.com . Don't know what the flat sale price was for the three sales that fell through.

To further complicate matters, one of the houses nearby has collapsed due to a construction accident.

Share this post


Link to post
Share on other sites

Hello Mog,

Interesting stuff. Whereabouts in N7 are these properties?

BE

All just off Holloway Road round near where the new Arsenal Stadium will be.

(edited- spelling mistake)

Edited by Mog

Share this post


Link to post
Share on other sites
Guest Fiddlesticks

All just off Holloway Road round near where the new Arsenal Stadium will be.

(edited- spelling mistake)

Hi Mog, Any further observations in Holloway. I have two friends who are looking at places around there. Any idea whether all those new flats around the stadium area are any good? The area seems pretty scruffy to me, mainly junk shops and takeaways. They think the redevelopment will raise the tone, any thoughts??

Share this post


Link to post
Share on other sites

Hi Mog, Any further observations in Holloway. I have two friends who are looking at places around there. Any idea whether all those new flats around the stadium area are any good? The area seems pretty scruffy to me, mainly junk shops and takeaways. They think the redevelopment will raise the tone, any thoughts??

Just to give my opinion (I live in N16 but I'm in N7 most days, have worked there and my kid's childminder is there) The new-builds are hideously overpriced, and if anything lower the tone - prices in N5 were always depressed by proximity to the stadium and I can't see any reason why the same won't apply to these flats - that's why they're having to offer season tickets or guaranteed rents to get rid of them. I'd suggest your friends avoid at all costs.

N7 in general is not too bad though. Slightly scruffy, but basically a decent area and walking distance to a lot of good places. The dodgiest bits are around the Harvist estate, right around the edge of the new stadium, and that road up the side of Holloway road station where they've slung up some new build junk (VizioN7 etc) on old industrial waste ground or railway sidings. The best bits are some of the older streets with terraced housing, not really cheap though. It was cheap at one point, but Islington drift has done for that. Might hold its value reasonably well though because it's become slightly gentrified, and might do better than other areas.

Share this post


Link to post
Share on other sites
Guest Fiddlesticks

Just to give my opinion (I live in N16 but I'm in N7 most days, have worked there and my kid's childminder is there) The new-builds are hideously overpriced, and if anything lower the tone - prices in N5 were always depressed by proximity to the stadium and I can't see any reason why the same won't apply to these flats - that's why they're having to offer season tickets or guaranteed rents to get rid of them. I'd suggest your friends avoid at all costs.

N7 in general is not too bad though. Slightly scruffy, but basically a decent area and walking distance to a lot of good places. The dodgiest bits are around the Harvist estate, right around the edge of the new stadium, and that road up the side of Holloway road station where they've slung up some new build junk (VizioN7 etc) on old industrial waste ground or railway sidings. The best bits are some of the older streets with terraced housing, not really cheap though. It was cheap at one point, but Islington drift has done for that. Might hold its value reasonably well though because it's become slightly gentrified, and might do better than other areas.

They've looked at victorian conversions I think - they're assuming that the redevelopment and an influx of lots of new tennants/owners might mean that the takeaways and junkshops get replaced with something more salubrious. Personally I think the new residents are more likely to take their cash off to Upper Street, so I'm not sure that it will work.

They also said there's a new C of E school being built nearby, one of Blair's city academies I believe. If they get themselves in the catchment area and it turns out to be any good (which sounds dubious from current reports on academies) they're hoping there will be an uplift in value on the basis that Islington schools are generally so bad that all the polite parents fork out to ship their kids halfway around London.

They've certainly done their research in finding an area, I'm just not sure that it will pan out like this in reality.

Share this post


Link to post
Share on other sites

They've looked at victorian conversions I think - they're assuming that the redevelopment and an influx of lots of new tennants/owners might mean that the takeaways and junkshops get replaced with something more salubrious. Personally I think the new residents are more likely to take their cash off to Upper Street, so I'm not sure that it will work.

They also said there's a new C of E school being built nearby, one of Blair's city academies I believe. If they get themselves in the catchment area and it turns out to be any good (which sounds dubious from current reports on academies) they're hoping there will be an uplift in value on the basis that Islington schools are generally so bad that all the polite parents fork out to ship their kids halfway around London.

They've certainly done their research in finding an area, I'm just not sure that it will pan out like this in reality.

I live right round the new stadium, it's not too junky for me. It doesn't look pretty, sure, but it's not unsafe and it's just that it doesn't look like Notting Hill or Highbury.

I am female and I don't feel unsafe walking in from Holloway Road tube at 11pm.

I can't comment on schools as I have no children and don't know anyone around here with them. But in terms of the area, I like it because it is close to everything, is 10 minutes on the train to the City from Drayton Park, and is near Upper Street. There's enough small provision shops around for most of the things I need and the big Waitrose on Holloway Road itself 10 minutes away.

My rent is ridiculous (low) for the amount of space that I have (I share with a friend), and I will be quite happily staying here till I buy. I live in a Victorian conversion that is a bit creaky but that we are quite fond of.

In my opinion the redevelopment is rubbish. I saw a few new-build flats near Holloway Road when we were looking for this place, they were hideously small and these new ones will be too. There is a spanking new block of "luxury apartments" on Drayton Park which looks to be more of the same.

In fact once it's redeveloped I might just move out of the area. I'm not posh enough for it I'm afraid. Frankly I don't care if the area has pound shops, greasy spoons and takeaways as I have lived in much worse places (in certain parts of Asia, for example).

The redevelopment will probably raise the tone in most people's opinions, just not in mine. I accept that I hold what might be anomalous views.

Share this post


Link to post
Share on other sites

They've looked at victorian conversions I think - they're assuming that the redevelopment and an influx of lots of new tennants/owners might mean that the takeaways and junkshops get replaced with something more salubrious.

If that's what they want I think they might have a long wait. Islington in general is odd in that there is a fairly narrow band of affluence (Upper St, Barnsbury, Canonbury) surrounded by significantly poorer areas with high-density populations (I don't mean that to sound snobby- some of the margins are my favourite bits). These surrounding areas are pretty friendly and nice but they're not going to magically gentrify overnight - no need with Upper St just down the road anyway, as you rightly say. The schools are dodgy not just because a few middle class parents ship out to private, but also because it is a poorer area than people imagine it to be under the surface. If they like it as it is, then it's quite a good place to live. If they're holding their nose and hoping it "improves" they may be disappointed.

Hi Mog, looking at what I wrote before I see I said that the area round the stadium is dodgy. But I was thinking of that bit at the bottom of Hornsey Road where there used to be a deserted road leading to warehouses and offices (I worked in one for a week once...), always full of burnt-out cars and junk. But on reflection I remembered that they demolished all that to build the stadium, so actually all the remaining streets are pretty much OK aren't they. Glad you like it there - I cycle past those "luxury apartments" most mornings and always think how ridiculous they are. In ten years I can't see anyone using the word luxury to describe them.

Share this post


Link to post
Share on other sites

A propos of nothing, the area around Eden Grove, where they're building the ghastly VizioN7 (!) used to be known as Ring Cross - there was a gibbet there on the old road out of London where they used to hang highwaymen etc. Gave the area a bit of a bad name... Later on it was a slum area of the same name, then they cleared the slums and built Ring Cross estate (an improvement but nothing too grand) and Paradise Park (not as idyllic as it sounds). All this means nothing now, but maybe gives a bit of perspective on the long term chances of that particular square mile.

It's also worth mentioning that N7 goes across to Somers Town (dodgy) then up through Camden Road (nice streets and squares, even some decent mews) to Tufnell Park (nice but dull) and back round through Holloway (different feel above the Seven Sisters Road to south of it). I was only really talking about the bit within half a mile or so of the stadium above. The other areas all have their pros and cons, but I won't go on about it any more.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 338 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.