Blackcurrant

rahrahrah Wrote: ------------------------------------------------------- > Blackcurrant Wrote: > -------------------------------------------------- > ----- > > From Brixtonbuzz: > > > > London City Airport proposes to re-route major > > flights over Brixton > > > > http://i62.tinypic.com/mj7bqb.jpg > > > > link: > > > http://www.brixtonbuzz.com/2014/10/london-city-air > > > > port-proposes-to-re-route-major-flights-over-brixt > > > on-with-little-public-consultation/ > > So (to be somewhat mercenary for a minute) does > this the noise over ED will be worse or better? The flight path seems to pass over southern and central SE22,but I'm not sure what the current flight path is so I don't know if it's worse. It could change the Heathrow flight path, but the City flights can be noisier as they're lower and turning.

Yes buyers should probably be looking to offer 10-15% under for properties needing work and maybe 5% under for those in pristine condition. Back in 2009 I put in an offer on a 3 bed house in SE22 below 80% of asking price that was accepted but that was a very different market at the height of the financial crisis and sellers were desperate. Kirstie and Phil very rarely venture further than 3% below asking price but they have their own commissions to consider and earn nothing if they fail to close the deal. I think a lot of buyers mistakenly follow their lead.

That's because it's November and the dark evenings aren't great for selling houses. Supply usually falls in winter.

Definitely lounge-worthy I think as it's really about London rather than SE22.

???? Wrote: ------------------------------------------------------- > Blackcurrant Wrote: > -------------------------------------------------- > ----- > > NewDad Wrote: > > > -------------------------------------------------- > > > ----- > > > If people dont sell, they will stay put. > > Simple. > > > > > > Slower growth and lower asking prices doesnt > > > equate to negative growth. > > > > Any estate agent can tell you prices have > fallen > > at least 10% since spring. That's negative > growth. > > > No that's the 'froth' from the stupid prices in > the 'boomlet' at the beginning of the year, if you > think prices or on any sort of long or even medium > term downward trend then I think you're barking! Look at the supply figures. There are twice as many properties for sale as last year. In parts of central London there are four or even fives times as many properties for sale. Markets respond to changes in supply and demand. Call it froth if you like, but it's hard to argue with numbers. As I've said before, London's structural shortage is already priced in. A shortage makes goods expensive but doesn't sustain continual upward movement. There's a shortage of gold but it hasn't stopped the gold price falling. I'm not making any long term predictions as nobody can, in either direction. But it's clear that prices have fallen and will remain weak until after the election.

NewDad Wrote: ------------------------------------------------------- > If people dont sell, they will stay put. Simple. > > Slower growth and lower asking prices doesnt > equate to negative growth. Any estate agent can tell you prices have fallen at least 10% since spring. That's negative growth.

KidKruger Wrote: ------------------------------------------------------- > I'm sure no-one else will want to snap-up a > bargain, so you'll have the pick of them all. Yes the bargain hunters will emerge for sure, but they won't push prices back up until supply starts to go back down.

Flat white? I've heard quite a few people say the market is levelling out/stabilising/settling etc etc. Same crap they were saying throughout 2008. Those supply graphs don't show any sign of levelling out though, and they're the best barometer of market conditions I know of. I don't think prices are going to stop falling until the election at the earliest - central London will stay paralysed until then. And it's currently looking like the election will be a mess with no clear winner, followed by shambolic attempts to form coalitions. One silver lining is that rate rises have been postponed.

Similar story across London, but it's most extreme in the centre. There was a spectacular trough in supply around november-december last year followed by the inevitable stream of newspaper articles saying London has a desperate shortage of housing and, shortly afterwards, the utter insanity of spring, when almost every property went to sealed bids and sold over asking price. Fast forward six months and we have a glut of properties trying to sell above market value. It's not the first London property bubble and it won't be the last. People never learn. Nothing makes people more desperate to buy houses more than the sight of everyone else scrabbling to get a foot on the ladder.

Yes it brings to mind the old saying that people from public schools who aren't bright enough for law become estate agents instead. Personally I can't believe prices have fallen that fast, but they've certainly fallen.

?1million+ houses in London now down in value by 20% according to the Telegraph: www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11177312/High-end-London-house-prices-being-slashed.html

trizza Wrote: "There is just a stand off between: a) Buyers who are concerned about current house prices and over stretching themselves to buy at the top of the market; and b) Sellers who have seen neighbours' houses go for significant amounts and want to cash in themselves. But times have moved on." That's a good description of a falling market. Not all vendors are in a stand off. Some of them HAVE to sell. Debt, divorce and death is the clich? estate agents use. Motivated sellers will drop their price until it reaches market value, at which point it will sell. The recorded sale price won't show up in land registry data and affect published indexes for up to six months after the deal is struck (depending on speed of completion and puntuality of solicitor). In the meantime most sellers remain sure their houses are worth what the indexes or zoopla (based on said indexes) say they're worth, i.e. what similar houses were selling for in spring - 15% more than they're worth now.

Dead since July, I would say. The crazy gains made over new year and spring are falling off. Back then prices looked bomb proof, but the London market is fickle and this isn't the first time it's turned on a dime.

rahrahrah Wrote: ------------------------------------------------------- > To answer the question posed in the subject line. > Yes, i think it's easy to sell a house, if you > price it competitively. Exactly. If you price above market value you won't sell. Lots of people are currently trying to sell above market value because the news that prices have fallen hasn't filtered through yet. Properties that are priced correctly will sell and will set the new benchmark. The falls are steepest in upmarket parts of London but East Dulwich has fallen too.

From Brixtonbuzz: London City Airport proposes to re-route major flights over Brixton http://i62.tinypic.com/mj7bqb.jpg link: http://www.brixtonbuzz.com/2014/10/london-city-airport-proposes-to-re-route-major-flights-over-brixton-with-little-public-consultation/

London prices rose about 20% up to spring but have fallen about 10% in the last two months. By the end of the year the last year's gains will be wiped out. Expensive locations falling hardest - Kensington, Fulham, Hammersmith, Wandsworth all down 7% in a single month according to Rightmove. The old rule that good locations hhold value has been turned on its head. Base rate very unlikely to rise now prices have stalled outside London too.

Absolutely, they're using every trick in the book to get wages rising as it's the best way to erode the mountain of debt the UK is groaning under. However, Carney would also use a rate rise to choke off a house price bubble outside London if his "macroprudential tools" fail to achieve that. The last thing they want is rising household debt due to a house price bubble while wages remain stagnant - it would lead to another crash and banking crisis. I doubt rates will rise this year though, and once we're into 2015 a pre-election rate rise gets difficult because can have political consequences. House prices currently falling in London but motoring on outside. It's an interesting situation.

Fair enough. I guess sellers are taking longer to adjust to the falling market than agents. It's still possible all your valuations are over the mark though. I remember the market turning in 2007-2008 as I was selling and buying at that time. Late 2007 had a similar feel to the current market - very unclear picture, mixed messages from the press, houses getting stuck unsold. I don't think we're in for a rerun of 2008's disastrous crash when buyers completely evaporated, but I've no doubt prices have fallen. I guess what happens next depends on interest rates. If they put them up to choke off a property boom outside London, London prices drop a bit more steeply.

edcam Wrote: ------------------------------------------------------- Estate agent says they valued it lower but the vendor refuses to drop the price, there it sits, unsold. The agent is probably lying. They ALL overvalue to get the instruction, especially the ones who claim they don't.

Prices can go down as well as up - they don't simply plateau when the market is weak. It's a question of supply and demand. Supply has been rising since new year, while new buyer registrations have fallen sharply in the last two months. It doesn't matter whether sellers hold out for the values that properties were achieving back in March, as market value is set by those who have to sell, not by those who fail to sell or don't need to sell. The slowdown seems to be happening from the top down, with prime central London weakest and areas well outsiders London still strong. Whether the weak market ripples outwards from London remains to be seen.

Prices are down about 10% since the peak in spring. Unsold stuff piling up. http://i61.tinypic.com/2pziert.png http://i59.tinypic.com/a59i12.png http://i58.tinypic.com/w7ooci.png

I've got a small dismantled shed that needs taking to dump. If anyone would be willing to collect and dispose of it, please PM me a quote. thanks

eastdulwichhenry Wrote: ------------------------------------------------------- > Looking at that pitchero plan, it seems the access > to Abbotswood estate will be provided by opening > up the end of St Francis road. This doesn't seem > acceptable to me - that road is very narrow once > all the cars are parked up, and often has people > coming both ways looking for parking spots, even > as it is. Forcing the road to handle all the DHFC > traffic as well as all the houses in Abbotswood > will create a hideous bottleneck. Is St Francis Rd any narrower than other residential streets in East Dulwich? Looks similar to me. The Abbotswood estate is pretty small and doesn't generate much traffic, but St Francis would become a through road rather than a cul-de-sac so this might make it slightly less desirable.

I wouldn't use the RSPCA - always very stretched. If you have transport you could put it in the garden waste as Southwark dump so it gets composted. If not, bury in your garden or pay the coucil. ?48 does seem steep though.

Mustard Wrote: ------------------------------------------------------- > I don't remember prices falling round here in > 2008. They fell 20%, but prices have risen so much since then that you'd be forgiven for not noticing.