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Freki

Help understanding an outlier

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Hi everyone,

I stumbled upon an outlier. A posh development in Zone4 London the Princess Park Manor. 

I don't understand why this place seems on full crash mode compared to the immediate surroundings.

A few properties are on for sale:

https://www.zoopla.co.uk/for-sale/details/43501927?search_identifier=07b0e4ab20aaca29ed614e876765b2ae#K3Fg5jXJvh6hFBs1.97

https://www.zoopla.co.uk/for-sale/details/42989170?search_identifier=07b0e4ab20aaca29ed614e876765b2ae#ip4thIDtUFSKvFb1.97

I could list more just go for N11 flats of 2 beds or more. You can also see some listings history here: https://houseprices.io/?q=n11+3F, there are more postcodes than N11 3F in this massive development.

A lot of things seem appealing: large surface, ensuite is common, great EPC ratings, nice looking building, high ceilings. So why has the prices not gone turbo mode like the rest of the surroundings but most likely down in real term, or close to in nominal terms?

I found this article https://www.independent.co.uk/property/house-and-home/the-new-cast-of-neighbours-why-the-bling-brigade-is-flocking-to-a-former-asylum-in-north-london-7546090.html that quotes service charge and ground rent prices  at ~ £4k back in 2012. 

Do you think the SC +GR have ballooned to unaffordable levels? What other factors can explain this different behaviour?

I know the price tag is still ridiculous but compared to the rest of London not so much

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  • 301 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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