Property Price Reality

[Jeremy]

Sue's language may have came across as rather blunt, but IMO East Dulwich is a more pleasant area with better facilities and a better mix of local businesses. I think that's reflected in the difference in price between nearby areas like Forest Hill, Sydenham, Peckham, etc. But these things are all subjective to an extent, so if you prefer living in Forest Hill, then great.

[Otta]

Exactly right Jeremy. I personally prefer the residential streets of Sydenham, as greener, with nicer houses. But, I'd like q good pub, and I ling for a Favourite Fried Chicken, like ED has!

[Loz]

dita-on-tees Wrote:

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> And what reason is that then Sue?

Location, location, location.

[ibilly99]

I'm selling up as this mentalism cannot surely last and anyway it's time to move on I want to be closer to a Papa John's so I can take advantage of buy direct discounts. Anyway I have a 3 bedder South facing garden house so I hope one of the soon to be new East Dulwichians will pay for the privilege and I will get value elsewhere. My property developer builder reckons there are only 3 agents worthe bothering with in ED - Haart,Winkworths and Bushells

[motorbird83]

Ibilly99 --How much you asking for? I have a friend interested in moving to the area!

[rbrtdngl]

I agree with jerememy. Property in ED is more expensive than most surroundiong areas and the main reason being down to the fact that there are better facilities and a better mix of local businesses. I don't know why people are always so surprised by this. Face it ED is a good place to live with high demand. It is still cheaper than Herne Hill, Clapham, parts of Brixton....

[pez]

Wow thanks, so many posts already. I'm amazed. Property is clearly a hot topic in the area. I just wish my other post where I'm flogging a pushchair had prickled this much interest.

[dulwichgirl2]

Surely it all depends on why you want to buy. If you want to live in it, buy here and bite the bullet in terms of mortgage. If you want to rent it out, buy elsewhere where there is still value and uplift to come and let someone else live there while the area improves. Nunhead springs to mind though I find it a bit dull tbh. It could be very pretty and is better in my view at least than the much pricier area around the pottery art cafe place. Any thoughts?

Sorry - not really on topic I know. Property carries you away!

[v_the_gelfling]

but does ED have good facilities? It has good restaurants and pubs but in terms of actual amenities its lacking like a lot of south london is. 3 'gyms' as an example and not one of them worth joining is a particular pet gripe.

[Dorothy]

Ok, you can have gyms - but what other actual amenities do you think south London and East Dulwich in particular are lacking v_the_gelfling? And please don't say The Tube. If we had a tube station property prices here would be on a par with Clapham.

As for prices ... I have been looking at a typical ED house (ie. a small terraced one) which is on the market for ?275,000 more than it sold for 24 months ago. That's called vendors being very greedy that is.

[Loz]

What exactly do you need in a gym?

[motorbird83]

I think the facilities are pretty good within East Dulwich and its easily accessible environs. The gyms get the job done and on top of that the large "fitness in the park" operations are in the area (Peckham Common and Dulwich Park). We have two golf courses, 3 tennis clubs, multiple squash facilities, great independent schools nearby, lots of green space (the parks and the woods), two museums, in addition to lively bars and restaurants. The cinema in Peckham is easy enough to get to though noisy kids can be a problem. East dulwich itself is small so lots of these things surround the local area but we are in the best position to access the wide range of the things the various south london neighborhoods, north, south east and west of us have to offer.

[Curmudgeon]

having lived here for more years than I care to mention I am mildly interested at how ridiculously expensive the entire area has become with flats selling for considerably more than houses sold a decade ago.

I remember when you could buy all this for a fiver and still have change for a poke of chips on the way home ..yaddaydadda

feel sorry for people trying to get on the housing ladder - good luck

[Gidget]

Dorothy Wrote:

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> Ok, you can have gyms - but what other actual

> amenities do you think south London and East

> Dulwich in particular are lacking v_the_gelfling?

> And please don't say The Tube. If we had a tube

> station property prices here would be on a par

> with Clapham.

>

> As for prices ... I have been looking at a typical

> ED house (ie. a small terraced one) which is on

> the market for ?275,000 more than it sold for 24

> months ago. That's called vendors being very

> greedy that is.

Would love to see this. Can you provide a link?

[AD]

Terraced house in ED for 275k ? Was this a typo ?

[rbrtdngl]

Exactly what I thought! 275 really?

[motorbird83]

The post states 275K more than it was purchased for 2 years ago. I mis-read it the first time too...

[rbrtdngl]

Thanks for the correction motorbird. Do people really think property in ED is over priced because I don't. I think you get what you pay for. If you are looking for value then it is probably best to look elsewhere, but i believe there are a number of very good reasons why property is priced accrodingly in ED. I also believe that the large number of people who are prepared to buy property here recognise those reasons too.

[ibilly99]

motorbird time to get some rose tinted spectacles

[Loz]

Dorothy Wrote:

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

> As for prices ... I have been looking at a typical ED house (ie. a small terraced one) which is on

> the market for ?275,000 more than it sold for 24 months ago. That's called vendors being very

> greedy that is.

House prices are only what the market sets. Someone isn't 'greedy' for asking the market rate, they would be foolish to sit down and think, 'I know the estate agent said ?500K, but I am going to put it up for a fair price of ?350K'. All that will happen is that some sharp-eyed person (probably in the estate agents themselves) will grab it and resell it and pocket the money themselves.

[ibilly99]

2007 seems like only yesterday pre Paul McGann and Mickey Flanngan

http://www.telegraph.co.uk/property/3359705/Property-in-London-East-Dulwich-is-like-a-less-pretentious-version-of-Crouch-End.html

[sugarmouse]

Miaow, Sue! I'm talking about people who can't afford ?500k for a terraced house like me and I'm not sad about it, I've just moved where I can afford and am pretty happy here. Not only can I get into ED in 10 mins, I now go south and visit Beckenham and Crystal Palace as well. I have to say, even if I won the lottery you couldn't tempt me back to ED!

[motorbird83]

I never said East Dulwich is perfect. My husband and I are currently deciding where we want to buy our family home when we sell our flat. We aren't planning to sell for a while but since we've been in ED on for quite some time now, we want to get to know other areas a bit better that offer things that ED doesn't (better transport links to the West End, a bit safer,though I think its pretty safe). However,ED, even taking into consideration what it lacks, still offers good value for money in my view compared to some of the places we are considering where we can only get a 3 bed "cottage" for the same price as a 4 bed house with a big garden here.

Loz, I agree with you entirely. If the house is priced in line with market prices for similar properties in the area, the seller isn't greedy. Plus, buyers often have no idea what the current owner has done to improve the property (extension, loft conversion, full refurb etc). Market prices are a function of supply and demand intermediated by interest rates. Demonizing sellers is silly.

[Claire.Hobbs]

Properties selling for well above the previous sale prices of similar properties in the neighbouring area are likely to be knocked down by surveyors when it comes to arranging the mortgage, and apparently they often knock it down below what it should/could have been. This happened recently to a friend of mine selling in Camberwell and by all accounts it's not that unusual.

We recently put our 2-bed flat on the market and were advised by several agents to put it on for an outrageous ?40-?50K more than the expected sale price. Similar properties in the area have been achieving high sale prices recently, presumably due to the lack of properties on the market currently compared to demand.

[Loz]

The general thought amongst agents I have spoken to is that reasonably priced properties are being snapped up but overpriced stuff is seeing little interest.