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Insane house prices in the area

fonread

By fonread
in General ED Issues / Gossip

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Penguin68

Penguin68

Posted
Posted
'Good' road, refurbished with parking - single level which may be good for older/ disabled in an area where that's uncommon (so premium for rarity) - quite well placed for public transport and close to Horniman. Someone local with a bigger house to sell might well downsize here and stay in the area. I can see how they'd get close to their asking price.
Michael Palaeologus

Michael Palaeologus

Posted
Posted

Development opportunity. The last photo shows the next door building has a 2nd floor, so expect plans to be a for a block with 2 floors.


Otherwise a bungalow of no specific architectural merit and grounds that have been all paved over.

ruffers

ruffers

Posted
Posted
I can imagine someone living local on Wood Vale Or Underhill with a big 1.5 million plus house who can't manage the stairs any more and wants to stay local paying a premium for this - very few bungalows in the immediate neighbourhood for those who are starting to struggle with stairs....
fonread

fonread

Posted
  • Author
Posted

Gloves Wrote:

-------------------------------------------------------

> Fonread, where did you go?

>

>

> Any better?

>

>

> Less cheese / coffee shops?



Prenzlauer Berg in Berlin. Actually quite similar in some respects. Plenty of coffee shops/delis/media types/prams. Quite pretty. Community feel.


I miss the parks, Brickhouse, Palmerston, EDT, cinema and annual art extravaganza, though.

bsand

bsand

Posted
Posted

The peak in ED was probably 18 months ago when any old rubbish sold at asking and mint properties in good locations had a bidding war. Since that peak I would say achieved prices are down by up to 10%. I have just sold and got 93% of my initial asking price (which was regarded as being 'achievable' by a reputable local agent after 3 accepted offers failed over 6 months. I was happy to cash out and buy elsewhere. One local agent described the summer market as a 'horror show' and another had never seen so many flats on the market. In the absence of any good economic headwinds, rising interest rates and eye watering prices net negative migration I don't see this situation improving any time soon.


That said a lot of vendors are refusing to accept the new norm and are not selling at the moment so shortage of supply might hold prices up. Whatever the situation it is a dysfunctional market.

  • 1 month later...
bargee99

bargee99

Posted
Posted

No idea where Bloomberg gets it's info on London to suggest a 21% drop in Southwark house prices. Same place as Trump I expect.

According to Zoopla " The average price for property in Southwark stood at ?744,750 in January 2018. This is a rise of 1.05% in the last three months (since October 2017) and rise of 0.91% since 12 months ago. In terms of property types, flats in Southwark sold for an average of ?736,184 and terraced houses for ?833,392. Which one do you trust more?

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