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House Price Crash Forum

Se4, London


Antsy
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Yep, some things are shifting. Even my landlord's overpriced (and full of rot) old flat. I have been keeping my eye on the websites and there is definitely some turnover. Pretended to be a potential buyer for ll's place earlier this week and the (surprisingly honest) ea told me it was picking up again after a really bad Sept to Jan period. I say honest as he said he'd rather the mkt ticked over rather than went up any more as he feared continued rises would bring a crash and he had been through the business of having 20k of neg equity on his house last time around... On the upside, some reductions further out to the SE, though. Hope it spreads in soon.

Oh - and he didn't immediately try to sign me up for email harassment, either, so business can't be that bad? Sigh. :ph34r:

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Properties may be selling but at what price?  My experience (I check a number of areas practically daily) of Rightmove is that 3 bedrooms that were advertised at  for 250k-275k in Brockley are now coming on at 250K!  Better quality too!

one and two beds seem to be fetching around 5% below asking price. ll's place was on for 149k and sold for around 144 according to the agent. It's only 1 bed and has wet rot in the bedroom floorboards, needs the kitchen and bathroom ripping out as they're knackered. Bathroom was carpeted about 10 years ago, so you can imagine the state of it... and it needs a new boiler. We were offered it for 129.5K but declined after the survey came back. Will be interesting to see if their sale goes through and at what price...

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I happened to find myself in that area last weekend, and I was surprised to see an agent showing two young couples round a house in Ivydale Road SE15. There seemed to be one couple coming out and another going in, with a KFH for-sale sign outside. Evidently there are still some people mad enough to consider buying homes in the current climate. I wanted to shout out 'Don't buy now! There's a crash coming!'

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I happened to find myself in that area last weekend, and I was surprised to see an agent showing two young couples round a house in Ivydale Road SE15.  There seemed to be one couple coming out and another going in, with a KFH for-sale sign outside.  Evidently there are still some people mad enough to consider buying homes in the current climate.  I wanted to shout out 'Don't buy now! There's a crash coming!'

I know - especially in Nunhead. Who wants to live there? We are looking for a 2 bed with garden for no more than 150k, so the wait will go on (and on). Whoever bought my ll's old place must be nuts. Either a very amateur BTL or someone desperate with way more money than sense. Can't wait till their solicitor gets their hands on the lease, either... converted from shop without council building inspection after, ongoing dispute over ground rent, question over ownership of outside walls. It's a nightmare. We felt like we were entering some kind of remake of that Tom Hanks movie, The Money Trap. Except that after spending all our cash, rather than a mansion we'd be left with a one bed flat. Pah.

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  • 4 weeks later...

One and two beds in SE4 moving well - who the hell is buying them?? Some 1 beds are up to 150k and they are still going. Acorn had 51 properties on its site, now down to about 31. If they are BTLs then the buyers are very foolish - the market is saturated with 1 and 2 bed flats to let at the moment. I suspect this may be mainly the case as it is still one of the relatively cheap areas in zone 2-3 so bandwagon jumpers think they have a bargain. Must have huge deposits to make any sort of return.

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