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Samuel Whiskers

1 Year To Sell In Notting Hell

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You would have thought it would be easy to sell a nice 1 bed near to Westbourne Grove / Portobello etc but only after 1 year have my wife and I managed to shift it, bought Q4 2001, sold Q4 2005. Even on with good EA's we were only having one viewing per 10 days. There would have been no increase if it had been bought in a similar state to that which we sold it in. Even after doing it up, new kitchen, bathroom etc, we only made a very small profit and reduced price considerably. This is not an ex LA flat in a nasty block, but a nice flat in portered block, communal garden etc.

If it's that tricky to sell somewhere like Notting Hill which though I don't particularly like it lots of others seem to, particularly Italians etc, then what is going to be the fate of less favourable areas over the next year?

I spoke to a good and seemingly honest EA manager at one of the main firms servicing the area - he said that nothing is selling and those houses that are are making the same prices of around 2001, and things are getting worse.

We will now rent for a bit and try to prevent our cash from being eroded too much.

I do not think there is a shortage of properties to let. I saw thirty flats in West Hampstead and W11 in a matter of days and almost all were willing to take around 25 quid a week of the price.

Things were not like this when I was last renting in 2000.

There are far more properties available now.

An ex EA friend has 13 BTL on the Isle of Dogs (!) all with 15% deposit all on interest only fixed at 4.9% for 10 years.

Many are vacant.

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You would have thought it would be easy to sell a nice 1 bed near to Westbourne Grove / Portobello etc but only after 1 year have my wife and I managed to shift it, bought Q4 2001, sold Q4 2005. Even on with good EA's we were only having one viewing per 10 days. There would have been no increase if it had been bought in a similar state to that which we sold it in. Even after doing it up, new kitchen, bathroom etc, we only made a very small profit and reduced price considerably. This is not an ex LA flat in a nasty block, but a nice flat in portered block, communal garden etc.

If it's that tricky to sell somewhere like Notting Hill which though I don't particularly like it lots of others seem to, particularly Italians etc, then what is going to be the fate of less favourable areas over the next year?

I spoke to a good and seemingly honest EA manager at one of the main firms servicing the area - he said that nothing is selling and those houses that are are making the same prices of around 2001, and things are getting worse.

We will now rent for a bit and try to prevent our cash from being eroded too much.

I do not think there is a shortage of properties to let. I saw thirty flats in West Hampstead and W11 in a matter of days and almost all were willing to take around 25 quid a week of the price.

Things were not like this when I was last renting in 2000.

There are far more properties available now.

An ex EA friend has 13 BTL on the Isle of Dogs (!) all with 15% deposit all on interest only fixed at 4.9% for 10 years.

Many are vacant.

I`m surprised that you did not get more reaction to this post, particularly in light of the fact that you suggest the agent is calling the market as per 2001 values. Did you make much (Nosey Northern Monkey? :P) This is the most downbeat post I`ve witnessed on the streets paved with gold :o

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You would have thought it would be easy to sell a nice 1 bed near to Westbourne Grove / Portobello etc but only after 1 year have my wife and I managed to shift it, bought Q4 2001, sold Q4 2005. Even on with good EA's we were only having one viewing per 10 days. There would have been no increase if it had been bought in a similar state to that which we sold it in. Even after doing it up, new kitchen, bathroom etc, we only made a very small profit and reduced price considerably. This is not an ex LA flat in a nasty block, but a nice flat in portered block, communal garden etc.

If it's that tricky to sell somewhere like Notting Hill which though I don't particularly like it lots of others seem to, particularly Italians etc, then what is going to be the fate of less favourable areas over the next year?

I spoke to a good and seemingly honest EA manager at one of the main firms servicing the area - he said that nothing is selling and those houses that are are making the same prices of around 2001, and things are getting worse.

We will now rent for a bit and try to prevent our cash from being eroded too much.

I do not think there is a shortage of properties to let. I saw thirty flats in West Hampstead and W11 in a matter of days and almost all were willing to take around 25 quid a week of the price.

Things were not like this when I was last renting in 2000.

There are far more properties available now.

An ex EA friend has 13 BTL on the Isle of Dogs (!) all with 15% deposit all on interest only fixed at 4.9% for 10 years.

Many are vacant.

Your experience doesnt surprise me. In Q4 01 you were buying very close to the peak in a hot market. My impression is that in central london prices peaked in H1 02, troughed in late 03 and have picked up a bit since then. None of this applies to the suburbs, but on this site it is often overlooked that the central london market has been flat for several years.

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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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