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beenhearingthisforyears

Foxtons In Islington Are Revaluing And Put Prices Up

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Noticed this was was confirmed by a bearish member.

Quote from member Geranium: "Yes it has picked up a bit in Central London but I'd be very suspicious of the Haart data.

Does it measure asking prices, offers accepted or completed sales? I've noticed Foxtons are slapping on ever higher asking prices in Islington but it doesn't mean they're selling (or will)." end quote

and wanted to ask the forum what message they feel this gives to buyers/sellers/lurkers. If i was looking to buy at this time it would freak me out a little to see prices going up together with all the mention of rises in London this week

Edited by beenhearingthisforyears

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Guest Charlie The Tramp

If i was looking to buy at this time it would freak me out a little to see prices going up together with all the mention of rises in London this week

And many will end up like those FTBs in Norwich.

Soaring house prices in Norwich are stopping first-time buyers from getting on to the property ladder, while hundreds of those who do are getting their homes repossessed because they cannot afford the mortgage repayments.

Dreams That Turned Sour

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Come on be serious ... you are quoting from where? ... real evidence suggests prices are coming down in Islington.

Wanna know why?

http://idler.co.uk/crap/?page_id=95

check the LR figures flats/terraced/semi's in Islington ALL went UP last quarter and for the year. Not sure why overall it is showing they came down?? Any idea?

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City bonuses are the reason; certainly are out in the home counties. I just heard of a development of 5 £1.5million homes on mini-estate round Ascot way are all sold with no waiting around!

I reckon this sort of activity will make the market look good and seriously skew the figures in the next few months, but wait till that blows off; it soon will. They won't be getting record bonuses when people can't meet their debt repayments, they've encouraged.

Record profits for the banks, record debts for the customers....hmmm <_<

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Guest Charlie The Tramp
name='Landagan' date='Feb 17 2006, 03:39 PM' post='300951']

Wanna know why?

Islington crime rate is nearly double the National figures.

The population of Islington is 180,157

The only London Borough employing invisible traffic wardens. :(

024009012250000000000.jpg

Islington Crime stats.

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City bonuses are the reason; certainly are out in the home counties. I just heard of a development of 5 £1.5million homes on mini-estate round Ascot way are all sold with no waiting around!

I reckon this sort of activity will make the market look good and seriously skew the figures in the next few months, but wait till that blows off; it soon will. They won't be getting record bonuses when people can't meet their debt repayments, they've encouraged.

Record profits for the banks, record debts for the customers....hmmm <_<

You got it, rich are getting richer all the time.

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Islington crime rate is nearly double the National figures.

The population of Islington is 180,157

The only London Borough employing invisible traffic wardens. :(

024009012250000000000.jpg

Islington Crime stats.

I think you've totally missed the point. Its lower than say... Holloway? Peckham? and along with an areas that has been depicted in the movies (About a Boy, Hugh Grant living a rich sad life in Islington) people pay for a bit of petty mugging in London. Its called "Keeping it real" ;) Not too much. Not too little. Just enough... Its that desirable selling point of "character". :huh:

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I have to chip in on this, having grown up in Islington myself. I have to say that Islington over the last 20 years is a graphic illustration of what happens when you widen the gap between rich and poor.

When I was growing up Islington was a fairly mixed place. Lots of council flats, many in estates and many in large victorian and georgian terraces. When I was a kid I used to play with the kids from the local council estate as well as the upper middle class kids of lawyers and architects, all playing footy over the local park or on the street corner.

The local comprehensive schools were rough - and I mean rough. The school I went to was Tony Blair's local school (He obviously didn't send his kids there!) Most people left with no qualifications to speak of, expectations were very low. As the eighties progressed, many of the council houses that were in the period terraces were sold off, and city workers bought them up. They would shout "scum" at kids like me from their red 911s and would call the police if we had the audacity to play footy on the street corner. Meanwhile the middle class families sent their kids off to public school and the council estates became ever more run down, the 'us and them' menality grew.

These days Islington is a horrible place. Houses worth 1m sit beside slum estates and no-go areas. There is very little in between. Crime in Islington is very high, as you can see from the stats and as you'd expect from a polarised society. Just behind the trendy bars and clubs on Upper street are thousands of people living in sink estates - but they are invisible, most people don't even know they exist.

Tony Blair is a product of this place, I bet he never walked through the Packington or Marquis estates. He didn't send his kids to the local schools. Why would he? Why would you want your kids mixing with scum?

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The Idler is slightly out of touch. Those people have already moved off, probably not to Hampstead (too expensive) but just a bit further out to buy a family house. The place is overwhelmingly more mass market these days.

Ever since the chains moved into the new shopping centre (2002-ish) it's like everywhere else, but with more traffic.

You have to remember, Upper Street is the A1 - the A1 runs right through Islington - it just becomes much narrower in the middle of the street, where traffic comes to a standstill. When I lived in Islington I spent much of my time stuck in traffic on the top deck of a 43 in Upper Street.

Friday & Saturday nights are the worst. It's like being on the main strip in Faliraki, only 20 degrees colder (not that the crowds of drunk girls are wearing more clothes than in Greece mid-summer).

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Islington, not a place I would choose to live, each to their own.

The richest person I know lives in Islington which as a suburban person I despise.....He lives in a small terraced house he paid £750k for........The divide between rich and poor in Islington is surely greater than anywhere in the country.......Some medium income single people live there in shared flats but family people are polarised between people living in the £750k workmen's cottages :lol: and poor immigrants living in council flats...................

Edited by Michael

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I've noticed Foxtons are slapping on ever higher asking prices in Islington but it doesn't mean they're selling (or will)." ...and wanted to ask the forum what message they feel this gives to buyers/sellers/lurkers. If i was looking to buy at this time it would freak me out a little to see prices going up together with all the mention of rises in London this week

I think that Foxton has made a fine art of psychological trickery. One of the ways that people judge the value of a house and in fact the entire area by comparing it to what is available on the market in that location at the current time and against other locations. Forget about any concrete considerations. This is about theoretical judgements based on too close a focus on value via monetary valuation. What is required is simply a critical mass of saleable items to generate a "global picture" from which internal comparisons of individual items can be made. A RE window is the perfect medium.

So if all the Foxton's properties are in the window at 300-800 then people will make an internal judgement that that is the range and simply look within it. However if all the houses are priced between 350-900 people will judge that to be the range and the area to be posher.

The advent of online searching of previous prices I think has had a significant impact on the ability to ramp areas in this way, but I believe that Foxtons were one of the major players in driving this "global picture" marketing technique forward.

I also blame us Ozzies. Where-ever we go prices go up. Course we always leave when it turns into bullsh*t but we have left a trail of posh places in our wake. ;)

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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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