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The East Dulwich Forum
The Bishop, The EDT, The Great Exhibition, the Actress or another?
messageHouses selling in ED?
Posted by Treehugger2 November 21, 10:54AM

Hoping to sell our big house on Barry Road in the spring in order to downsize. Would suit local family with growing teenagers. Have heard mixed views as to whether a) the housing market has stalled and nothing is selling or b) it's a feeding frenzy, with multiple buyers for every house that comes on the market. I don't want potential buyers, just views on what the market is looking like at the moment. Thank you.

messageRe: Houses selling in ED?
Posted by JohnL November 21, 11:02AM

Zoopla has started pushing values up again (I know that's not exactly definitive)

messageRe: Houses selling in ED?
Posted by Azalea November 21, 11:23AM

Why not ring round a few estate agents for views. No Flies has good recommendations.

messageRe: Houses selling in ED?
Posted by Rockets November 21, 01:10PM

Many properties are being reduced in price or pulled off the market at the moment as it has pretty much stalled due to usual seasonal slow-down amplified by Brexit and election uncertainty. A lot of people are taking their houses off with a view to going back on in the spring when they hope the markets will have picked-up again. Houses have been selling but seemingly only if they are high-end properties in super desirable locations and you find a buyer who is awash with cash as a lot of mortgage companies have been pushing back after surveys and insisting on reduced offers. It certainly isn't a feeding frenzy - the agents may claim so but more likely there can be high demand for good properties as there isn't a lot of stock on and much that is on is over-priced and low quality.

messageRe: Houses selling in ED?
Posted by Treehugger2 November 21, 02:51PM

Interesting, thanks Rockets. i just have anecdotal info from a friend who tried for three properties in ED and was up against multiple buyers for each, only getting the third after a bidding war. I was quite surprised to hear this, as thought everything had stalled.

messageRe: Houses selling in ED?
Posted by Jules-and-Boo November 21, 02:54PM

do estate agents still make up bidding wars by pretending there are other interested parties?

messageRe: Houses selling in ED?
Posted by alice November 21, 02:56PM

A few houses sell within 24hrs in se22 according to rightmove. These are almost always priced at the lower end of their possible range.

messageRe: Houses selling in ED?
Posted by SpringTime November 21, 03:10PM

Most of London has had this coming - prices just can't keep on going up when there isn't enough equity coming in at the bottom. The market has indeed slowed and this started in April 2016 with the stamp duty surcharge (less investors buying to let, so less buyers overall). After the EU ref the market stalled all the more, and continuing challenges around Brexit have led to an imagined or indeed very real uncertainty for movers (buyers in particular) as to whether forking out so much money for a property is really a wise decision.

Would you buy now at £1.2m for a house in SE22? Or £1.5m perhaps? Or even £800,000. When the market's on the up of course this seems like a plan. When it's subdued and could get worse, with the very real prospect of a significant decline in prices then it's no wonder people are being apprehensive.

At the moment if you want to get a queue of buyers you'd need to lop a good 25% of the likely value (whatever that is, who knows) and use that as your asking price, and even then the interest might seem underwhelming... most buyers are offering below the asking price even if it's competitive.

messageRe: Houses selling in ED?
Posted by SpringTime November 21, 03:12PM

Jules-and-Boo Wrote:
-------------------------------------------------------
> do estate agents still make up bidding wars by
> pretending there are other interested parties?


They shouldn't do so as this is an offence - The Property Ombudsman can slaughter an agent for this king of thing.

messageRe: Houses selling in ED?
Posted by micromacromonkey November 21, 03:18PM

are any of the commenters here estate agents, or just guessing? (educated guess or not)

messageRe: Houses selling in ED?
Posted by fishbiscuits November 21, 03:26PM

"Bidding war"? Or sealed bids?

Big difference...

messageRe: Houses selling in ED?
Posted by Treehugger2 November 21, 03:35PM

Would anyone suggest sealed bids to get the best price? I guess it's a good way to test the market and the attractiveness of your house, and if you don't get what you want, to just withdraw, wait and start again. We bought our house 15 years ago, so have no idea how things have moved on.

messageRe: Houses selling in ED?
Posted by sheff November 21, 03:54PM

A few family houses have either been sold recently on Barry Road, or are still on the market.
Potentially check with the estate agents.
One has recently had a full refurb etc on for about 6 wks- that has sold - [www.rightmove.co.uk]

This one on since May - [www.rightmove.co.uk]
On since July - [www.rightmove.co.uk]
On since Nov but was listed before with no sale - [www.rightmove.co.uk]

I live on Barry road and nosy!

messageRe: Houses selling in ED?
Posted by mikeb November 21, 04:17PM

why paint a house dark grey?

messageRe: Houses selling in ED?
Posted by picmicnic November 21, 04:51PM


messageRe: Houses selling in ED?
Posted by SpringTime November 21, 05:07PM

micromacromonkey Wrote:
-------------------------------------------------------
> are any of the commenters here estate agents, or
> just guessing? (educated guess or not)


At least one is an estate agent...

messageRe: Houses selling in ED?
Posted by Treehugger2 November 21, 06:02PM

Thanksyou Sheff, I suppose I am wondering whether people with young families who spent £800k -£1m on 3/4 bed houses might now be thinking/able after 5-8 years to upsize to a more expensive bigger house in the same area. That's what we did when prices were considerably lower. I don't know if the mind set is the same. Or if finances allow.

messageRe: Houses selling in ED?
Posted by Blackcurrant November 21, 07:37PM

The number of houses for sale has fallen quite a bit over the last 6 months. More than just the usual seasonal fall. Lower supply will support or push up prices, all other things being equal (which they aren't, as mortgage rates have fallen, which stimulates demand). I'd expect prices to rise a bit in the new year. Not like 2014, when the market went bananas, but maybe enough to kick off a few bidding wars over bargains.

messageRe: Houses selling in ED?
Posted by dbboy November 21, 09:52PM

Until Brexit is sorted and even then for at least 2 yrs after the property market will remain difficult, if you don't need to sell and can afford to hang around do so. Unfortunately it's a buyers market and buyers are ruthless, they'll use every underhand trick they can to get a lower price. When they have the survey done question everything it says when the buyer tries to use this to negotiate the price down. Ultimately as seller you do not need to accept the first, second or even third offer they make. If you set yourself a lower limit stick to that, it's your choice if you sell or stick it out.

messageRe: Houses selling in ED?
Posted by KidKruger November 21, 10:28PM

Prices won’t be rising in the new year, there is no reason likely for the conditions to be in place and enable that.

messageRe: Houses selling in ED?
Posted by bsand November 22, 08:48AM

Here you are the last two month's sold prices from nethouseprices.

[nethouseprices.com] - the highest price is £2,295,999

for [www.rightmove.co.uk]

and the lowest (sold in a public sale) was ex-local authority flat in Dawson's Heights for £338,000. I would have though unique, Grand Designs like properties can name their price and will be sought after. But topped out 2 bedders (made into 3 with a loft, maybe side return and kitchen extension) seem to be less desirable as there is no scope for the buyer to extend down the line in the future as the family grows. Some recent buyers may have spent a lot of cash buying these and doing them up but they don't seem to attract a pay-back premium that they might have done 2-3 years ago. A big issue in the market currently is chains breaking down as buyers pull-out or can't raise the funds so there are a fair few yo-yo properties going under offer and then back on the market.

[www.rightmove.co.uk]

Here's a beautiful 3 bedder which went for £814,890 which at peak one could easily seen going for 900k.

[www.rightmove.co.uk]


Flat, Leasehold, Non-Newbuild
£650,000 18th September 2019
11 Overhill Road, London, SE22 0PQ
Semi Detached, Freehold, Non-Newbuild
£985,000 17th September 2019
11 Buxted Road, London, SE22 8DQ
Terraced, Freehold, Non-Newbuild
£572,500 10th September 2019
Flat 172 Ladlands Overhill Road, London, SE22 0PP
Flat, Leasehold, Non-Newbuild
£338,000 6th September 2019
17 Matham Grove, London, SE22 8PN
Terraced, Freehold, Non-Newbuild
£1,060,000 6th September 2019
Flat 20 Mercia Court Highwood Close, London, SE22 8NN
Flat, Leasehold, Non-Newbuild
£375,000 6th September 2019
25 Trossachs Road, London, SE22 8PY
Terraced, Freehold, Non-Newbuild
£975,000 3rd September 2019
293 Upland Road, London, SE22 0DN
Semi Detached, Freehold, Non-Newbuild
£1,072,500 2nd September 2019
53 Underhill Road, London, SE22 0QR
Flat, Leasehold, Non-Newbuild
£449,950 2nd September 2019
19 Eynella Road, London, SE22 8XF
Semi Detached, Freehold, Non-Newbuild
£2,295,999 30th August 2019
Click here to see Below Market Value Properties
3 East Dulwich Grove, East Dulwich, London, SE22 8PW
Freehold, Non-Newbuild
£15,500 30th August 2019
45 Beauval Road, London, SE22 8UG
Terraced, Freehold, Non-Newbuild
£1,380,000 29th August 2019
Flat 20a Ivybridge House Albrighton Road, London, SE22 8BS
Flat, Leasehold, Non-Newbuild
£230,000 29th August 2019
6 Donkey Alley, London, SE22 0NY
Semi Detached, Freehold, Non-Newbuild
£800,000 29th August 2019
185 Landells Road, East Dulwich, London, SE22 9PN
Terraced, Freehold, Non-Newbuild
£640,000 28th August 2019
50 Homestall Road, London, SE22 0SB
Terraced, Freehold, Non-Newbuild
£787,000 28th August 2019
75 Dovercourt Road, London, SE22 8UW
Semi Detached, Freehold, Non-Newbuild
£1,500,000 27th August 2019
79a Underhill Road, London, SE22 0QR
Flat, Leasehold, Non-Newbuild
£630,000 23rd August 2019
37 Ulverscroft Road, London, SE22 9HF
Terraced, Freehold, Non-Newbuild
£980,000 23rd August 2019
11a East Dulwich Grove, East Dulwich, London, SE22 8PW
Flat, Leasehold, Non-Newbuild
£665,000 23rd August 2019
3 Jarvis Road, London, SE22 8RB
Freehold, Non-Newbuild
£1,100,000 23rd August 2019
17 Ulverscroft Road, London, SE22 9HF
Terraced, Freehold, Non-Newbuild
£1,000,000 23rd August 2019
55 Melbourne Grove, London, SE22 8RG
Semi Detached, Freehold, Non-Newbuild
£1,125,000 22nd August 2019
8 Jennings Road, London, SE22 9JU
Terraced, Freehold, Non-Newbuild
£805,000 22nd August 2019
10 Ulverscroft Road, London, SE22 9HG
Terraced, Freehold, Non-Newbuild
£835,000 20th August 2019
55 Underhill Road, London, SE22 0QR
Semi Detached, Freehold, Non-Newbuild
£1,100,000 19th August 2019
127 Landells Road, East Dulwich, London, SE22 9PJ
Terraced, Freehold, Non-Newbuild
£645,000 19th August 2019
Flat 1 30 Friern Road, London, SE22 0AX
Flat, Leasehold, Non-Newbuild
£702,000 19th August 2019
29 Friern Road, London, SE22 0AU
Terraced, Freehold, Non-Newbuild
£1,275,000 19th August 2019
Flat 4 219 Friern Road, London, SE22 0BD
Flat, Leasehold, Non-Newbuild
£359,000 16th August 2019
9 Shelbury Road, London, SE22 0NL
Terraced, Freehold, Non-Newbuild
£935,000 16th August 2019
Flat 20 18 - 22 Grove Vale, London, SE22 8EF
Flat, Leasehold, Newbuild
£600,000 16th August 2019
19 Thompson Road, London, SE22 9JR
Terraced, Freehold, Non-Newbuild
£814,890 16th August 2019
63c Melbourne Grove, London, SE22 8RJ
Flat, Leasehold, Non-Newbuild
£368,000 16th August 2019
23 Ryedale, London, SE22 0QW
Terraced, Leasehold, Non-Newbuild
£425,000 16th August 2019
343a Lordship Lane, London, SE22 8JH
Flat, Leasehold, Non-Newbuild
£375,000 16th August 2019
Flat 6 Stagshaw House East Dulwich Estate, London, SE22 8DB
Flat, Leasehold, Non-Newbuild
£380,000 16th August 2019
9 Velde Way, London, SE22 8TP
Terraced, Leasehold, Non-Newbuild
£554,690 15th August 2019
25 Worlingham Road, London, SE22 9HD
Terraced, Freehold, Non-Newbuild
£1,040,000 15th August 2019
Flat 1 187 Lordship Lane, London, SE22 8HA
Freehold, Non-Newbuild
£26,000 14th August 2019
Lower Flat At 84 Barry Road, London, SE22 0HP
Flat, Leasehold, Non-Newbuild
£575,000 14th August 2019
7 Tribeca Court, 2 Crystal Palace Road, London, SE22 9BF
Flat, Leasehold, Newbuild
£555,000 14th August 2019
4 Shawbury Road, London, SE22 9DH
Terraced, Freehold, Non-Newbuild
£880,000 14th August 2019
23a Derwent Grove, London, SE22 8DZ
Flat, Leasehold, Non-Newbuild
£404,000 13th August 2019
51 St Aidans Road, London, SE22 0RN
Detached, Freehold, Non-Newbuild
£840,000 12th August 2019
13 Bassano Street, East Dulwich, London, SE22 8RU
Terraced, Freehold, Non-Newbuild
£840,000 9th August 2019
20 Scutari Road, London, SE22 0NN
Terraced, Freehold, Non-Newbuild
£1,015,000 9th August 2019
Flat 5 377 Upland Road, London, SE22 0DR
Flat, Leasehold, Non-Newbuild
£497,500 9th August 2019
Flat 2 196 Lordship Lane, London, SE22 8LR
Flat, Leasehold, Non-Newbuild
£400,000 9th August 2019
64 St Aidans Road, London, SE22 0RW
Terraced, Freehold, Non-Newbuild
£875,000 6th August 2019



Edited 4 time(s). Last edit was november 22, 12:28pm by bsand.

messageRe: Houses selling in ED?
Posted by SpringTime November 22, 09:14AM

Asking prices might go up in the New Year as fresh movers try their luck and agents look to win instructions by pricing high when they value clients' properties. Asking prices and agreed sale prices are rarely the same thing though. I don't think actual sale prices will go up. Too much going on at the minute. Too many distractions and concerns - when the election is out of the way (and you never know, it might be a seismic result) Brexit will not be going away.

As for a buyers' market, the flow the the market still favours the seller. There are more buyers out there than available stock, it's just that the market is much slower at the moment, so most listings sell because the vendor is reasonable and understands that there isn't a queue of buyers waiting to come in - they'll still come but it's a trickle. If no buyers show then the most obvious problem will likely be overpricing. In a slower market buyers have more choices, and more time to consider whether they offer, and they will of course act according to price as well as all their other buying criteria.

messageRe: Houses selling in ED?
Posted by Ghlpc November 23, 11:31AM

The answer to your post is yes.

Any house will sell at the correct price.

But what a seller thinks is the correct price and what the currnt market dictates are often two different things.



Edited 1 time(s). Last edit was november 23, 11:32am by Ghlpc.

messageRe: Houses selling in ED?
Posted by bsand November 23, 03:07PM

I think some fundamentals will persist (just some untutored thoughts off the top of my head!)

1. ED will weather an adverse market better than some of the marginal areas that rose with the seemingly endless London boom.
2. The peak of the market was the spring before the Brexit vote - when everything seemed to sell and quick. Prices I would hazard a guess are down 10% from that peak. (see the 3 bedder in Thompson Road above).
3. 925k is a new ceiling for many properties as £1 over that the stamp duty doubles from 5% to 10%. Unless you have a huge 3 bedder then that would be the very top price. And with a new top then everything has to find it's price point under that ceiling. That's why scope for loft / side returns is at a premium as it negates the need to sell up with all the attendant hassle and costs as a family grows and keeps the 'ticket' price below that magic figure.
[www.rightmove.co.uk]
4. 'True' value of a topped out 2 bedder / 'half house' (loft to take it to 3 / side return kitchen extension to garden) is around the 800-825 mark or probably less.
[www.rightmove.co.uk]
5. Interest rates are unlikely to rise anytime soon - if anything once the election is over and Johnson gets his majority (urrggh) reality will bite once again and I think the UK will see interest rates staying put or even going down with more QE to keep the Ponzi fed. The London market fed by more overseas 'bargain' buyers will put a floor under the London decline from the peak.
6. If you can't afford ED now then I'm afraid you aren't rich enough anymore so probably best to sell up and move out (I did) for there is much better 'value' and lifestyles elsewhere.
7. Don't worry Waitrose is coming !
8. This is the highest price ever for SE22
204, Peckham Rye, London, Greater London SE22 0LU
£3,000,000 Terraced, Freehold, Residential 09 Dec 2014
£600,000 Terraced, Freehold, Residential 19 Jun 1998
Terraced house, Freehold, 8 Beds, 3 Baths, 4 Receps
[www.google.co.uk]
9. victorian,VICTORIAN,VICTORIAN !



Edited 8 time(s). Last edit was november 23, 03:37pm by bsand.

messageRe: Houses selling in ED?
Posted by hitherman November 25, 02:25AM

Thanks bsand - I have read your take on this with interest.

Out of curiosity: on your p.6 - where did you end up moving out to?

messageRe: Houses selling in ED?
Posted by bsand November 27, 06:03PM

Dull but very nice Welling - great train connections to Victoria/Charing Cross 35mins and I believe local schools are good, particularly grammar schools in nearby Bexleyheath not that I have children. Prices around half of ED like for like. Victorian 3 bed terrace 350-400. Very little anti-social behaviour as well - but very Brexitty I'm afraid. A lot of mainland Chinese are buying/renting in the area as it is 'cheap' compared to central London. 3 supermarkets within walking distance Morrisons/Lidl/Tescos and 'proper' shops selling real stuff that you need. The mix is white working-class tradesmen / asian aspirationals/ a few downsizers cashing in on prime London. Lovely Danson Park nearby and you're on the A2 and out into Kent within minutes. No mashed avocado breakfasts or artisan bread/coffee yet though.

[www.rightmove.co.uk]

messageRe: Houses selling in ED?
Posted by hitherman November 28, 07:22AM

Thanks - we considered Welling when we were looking to buy our first place in 2016. The prices may have been even cheaper back then - but after viewing couple places and exploring the area for sometime, we realized it was not for me. I am neither white tradesman nor Asian aspirational though. It also felt that Welling was still trying to shake off some of its past (BNP HQ was there until 1995) but things must have changed much since then.

It just didn't feel right back then - although a big 3 bed semi would be a more future-proof option for my family compared to a more expensive yet smaller maisonette on the cusp of Dulwich that we ended up buying. No regrets whatsoever though - and I'm not even that much into coffee and avocado. It's the feel of the place and area, which is quite individual.

Just to link it back to the topic - people do end up buying around Dulwich, even though it is expensive and places are smaller etc because, just like in our case, it feels right and they can imagine living and belonging here. As long as it holds true, the demand will be there and the prices, although will some inevitable moderation due to Brexit and slowing economy, will not plummet.

messageRe: Houses selling in ED?
Posted by bsand November 28, 07:58AM

Bang on ED is one old school / poorer person out - a richer, relatively cashed-up gentrifier in. It's only going one way in the end. An 'investment' here is probably safe as it gets relative to the overall Uk property market as it gets.


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