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crazypabs

North London EA tells it like it is

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I don’t think we knew then what we know now,” Murray said about his vote, about which he now has some regrets. “We were badly advised.”

Referencing predictions of an economic downturn over the next 15 years, he added: “Unfortunately, I never thought of it.”

Murray, a real estate agent with 45 years of experience who founded the Dreamview Estates agency on Golders Green Road, has seen housing prices drop by around 10 percent from their peak levels in 2016, with some assets attracting little to no bids, he said.

A busy artery running through the pricey neighborhood that gave it its name, Golders Green Road features multiple Israeli and kosher eateries and shops such as Florentin, Hummus Bar and Yarok, that reflect the heavily Jewish makeup of the area.

A bit further up the road, Richard Dangoor, managing director at his Jewish family’s real estate agency, Hausman & Holmes, has seen a drop of about 20 percent in the number of sales since the Brexit vote.

The U.K. housing market’s growth of 1.5 percent in October droppedsharply to a near-stagnant 0.3 percent in November, The Guardian reported earlier this month. And London, which in 2015 saw a whopping 9.2-percent rise in housing prices, has become a “weak spot” in the U.K. property market, The Guardian reported in October.

The London bubble may have burst not only because of Brexit uncertainty, but also because “prices had become unaffordable,” Murray said. He and Dangoor both said they don’t at this point fear for the viability of their business.  Yes they do.

 

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Interesting side note is that the area has an eruv ("an urban area enclosed by a wire boundary which symbolically extends the private domain of Jewish households into public areas, permitting activities within it that are normally forbidden in public on the Sabbath.")

https://nwlondoneruv.org/about-the-eruv/where-is-the-eruv/

I also imagine the market there is very specific and open to fluctuations in the demographic. https://edition.cnn.com/2018/08/17/uk/uk-anti-semitism-intl/index.html

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How it is, is many areas have changed massively over the last 20 to 30 years, different people and businesses moving in and others moving out......why would someone spend million plus in a certain area, most probably because they believe another would pay more at a later date, the area will become more desirable to live in not less......not everyone has the ability to pay growing sums of money to buy, when fewer people can or are willing to pay growing rents in areas that look run down, over populated and unloved.....just saying.😉

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  • 297 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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