Insane house prices in the area

[fonread]

What's the score here? Does it come with an acre of land or something?

https://www.foxtons.co.uk/property-for-sale-in-east-dulwich/chpk2154081

[Penguin68]

'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.

[JohnL]

It says "Under Offer" so someone seems willing to pay ?1m

[alice]

It?ll be knocked and a mansion built.

[fonread]

?1,000,000 for a 67-square-metre bungalow, though?

Wow.

[singalto]

Foxton are well known for overinflating the selling prices. I wouldn?t go near them to buy or sell..

[uncleglen]

If you look at the aerial view there seems to be a lot of land out the back....another block of luxury 'contempary apartments' in the offing. Starting price ?450,000 for a 1 bed. Obscene

[robbin]

I'm betting it didn't sell for a million. It's not even anywhere close to ED centre or to Dulwich Village.

Mind you, if it did, while I cannot stand Foxtons, if they could get me way over the odds for my gaff I'd be tempted!

[Broco123]

Cracking development opportunity! Let?s hope the purchaser is confident they can get planning...

[Gloves]

Perfect plot to build the "Tea Strainer" SE23's new 48 storey development.

[kibris]

If you dont like the price then dont move into the area

[fonread]

kibris Wrote:

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> If you dont like the price then dont move into the

> area

I've already left, mate!

[Gloves]

Fonread, where did you go?

Any better?

Less cheese / coffee shops?

[Michael Palaeologus]

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.

[i*Rate]

I can't believe this - it must be a joke?!!

There are four-floor, four bedroom, brand new houses in ED on offer for ?1.5m in Upland Road. Mind you, they have been on since the summer and still empty.

[ruffers]

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....

[undergran]

This bungalow was originally used as a dentist/orthodontist surgery in the '80s

[fonread]

Gloves Wrote:

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> 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.

[Jules-and-Boo]

The mayoral strategy is to encourage building in our gardens to address the shortage of stock.

This is a winner. Although, at what stage will we run out of buyers who can afford the prices of housing as is?

[bsand]

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.

[Gloves]

Fonread,

Excellent. Berlin is a lovely city.

I miss Leibhaftig (Bar / Resto), great place.

[Chief]

Surely you should have transferred from the East Dulwich forum to the East Berlin forum? #CheckpointCharlie

....... or is the reality that you're missing East Dulwich a great deal and are desperate to keep in touch? 😎

[Tractorlad]

https://www.bloomberg.com/news/articles/2018-01-15/the-london-borough-where-home-prices-have-crashed-by-21-chart. Southwark officially worst performing borough 12 months to November!

[bargee99]

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?

[JohnL]

LSL Acadata according to that report - who are they ?

and they have a picture at the bottom which shows Southwark in Blue - I think these types of survey get effected by a few top end sales - probably in the north of southwark or elephant park.