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tpsman

Muswell Hill Cooling?

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Some friends have recently put their very nice but small 2-bed flat on the market in muswell Hill. Asking price 360k, received two offers around the 320k mark, but no room for negotiation. Hasn't been a case of single day viewing herds with sealed bids. They bought it 2.5 years ago for 250k.

Is this the start of the crash in muswell hill/Highgate?

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Some friends have recently put their very nice but small 2-bed flat on the market in muswell Hill. Asking price 360k, received two offers around the 320k mark, but no room for negotiation. Hasn't been a case of single day viewing herds with sealed bids. They bought it 2.5 years ago for 250k.

Is this the start of the crash in muswell hill/Highgate?

I think it's well document here now what is happening in London.

The speculative bubble fuled by FLS/HTB/Russians and the chinese is over.

Speculative bubbles dont last long then collapse hard.

Caveat Emptor

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Islington.....1 bed on market for 400k - told that vendor will take offers of 375k - after only being on the market a week.

A prospective Chinese buyer walked away due to difficulties in getting her money out of China..........

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Islington.....1 bed on market for 400k - told that vendor will take offers of 375k - after only being on the market a week.

A prospective Chinese buyer walked away due to difficulties in getting her money out of China..........

POP

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SW17 - recently refurbished house after being bough as 'in need of modernisation'. started at £599K; no takers after one week - second agent employed and reduced to £575K. now has 'sold'. still grossly overvalued imo.

(first post btw - 'cos it's gettin interestin)

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East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly.

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East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly.

I assume those are 2 beds? Surely those prices are higher than Muswell Hill itself now? That said East Finchley has a station, I suspect Leslie and Leopold Road are in the Fortismere cachment area, and the bus goes down to Highbury now.

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I assume those are 2 beds? Surely those prices are higher than Muswell Hill itself now? That said East Finchley has a station, I suspect Leslie and Leopold Road are in the Fortismere cachment area, and the bus goes down to Highbury now.

Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know..

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Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know..

I have to say the 500k price tag stuns me. What are the rents there - 1500 pcm? That's a 3.5% yield in zone 3. Incredible.

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Yes rent around £1500 pcm. To be fair though, they may be asking £525k, but none have actually sold for that. According to nethouseprices, the last one that sold was in June 2013, for £357k. How accurate and uptodate is nethouseprices? If it's accurate, how did asking prices rise by over £150k without any sales (demand)? The whole thing is ridiculous.

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And in such a short space of time?

i only looked at muswell because a bull on MSE said prices in wood green would go up by 10% in the next year then changed his prediction to muswell hill.

would never buy there myself (even if i could)- too many bomads.

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Either 2 beds or 2 + box room, depending on whether it's ground floor or 1st floor. I've noticed there's no difference in price between the two. I live overseas now but we kept our flat in Leslie Road so I monitor prices and rents. I don't look at Muswell Hill prices but a friend of mine in the area said that prices in East Finchley are similar, or have possibly even overtaken Muswell Hill. East Finchley now has The Archer free school which is apparently very sought after too. Prices just seem to have gone crazy. How anyone can start out on the property ladder with those prices I don't know..

I know people in the area, upper end detached, had to slash 10% off their asking price to get a sale. Not sure if that represents a drop in prices for the street or was just a drop in their HPI expectations, but nevertheless I'd watch the top end of the market for first signs of weakening. People are over-extending themselves at the lower end so few who bought in the last ten years can afford to trade up.

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East Finchley - just down the road from Muswell Hill, I keep an eye on flats in Leslie Road. Prices have been going up and up the past few years and they're now asking between £495k - £525k. I couldn't believe they would go for that price and guess what? There are now seven on the market and none seem to be shifting. Over the past few years they were snapped up within a few weeks and there was only ever one or two for sale at a time. Seven on the market at once is pretty much unheard of in that road. Prices aren't dropping yet but I guess they will if they don't sell fairly quickly.

So I first posted on this topic on 21st August - just over one month later, 5 of the original 7 flats on sale have dropped in price by 4.8%. One flat has been added. Yep, prices are dropping... None have sold.

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