Trying to buy a house in this area is near impossible

[Zebedee Tring]

Very good e-dealer

[miga]

.

[Loz]

As soon as I made an offer on the house I bought a couple of years ago, I told the agent that it had to be taken off the market. And I kept checking Rightmove (and, at the time, Globrix). Unfortunately, the vendor has listed it through two agents, but the agents I bought it off were actually very good at hassling the other agent to remove it. It took about a week, but it did get delisted.

I'm not sure why anyone would let an agent keep a property up on Rightmove that you had an offer on. It's just begging to be gazumped.

[MissKing]

2 beds on Jennings road and cornflower terrace have also dropped in price and still not sold. Anyone who is buying and looks on rightmove at recently sold properties aren't going to pay ?700k for a 2 bed in a hurry... I hope? That's a jump of over ?100k in less than a year!

[LondonMix]

You can get a 3 bed house the size of Frogley rd for 625k. I live in ED and love it but the premium between ED and Forest Hill shouldn't be that high. People will just start moving to ED surrounds I think before regularly paying that for such a small 3 bed.

[danrees]

I just bought a 3 bed Victorian terrace in Hither Green of 1270 sq ft for ?470k. Half mile to the station or I can get to Blackheath or Lewisham in 3/4 miles walk.

Same house in East Dulwich would be ?800k today. Is it really worth it?

I am leaving my 2 bed rental flat by Dulwich Park this month...

[Sue]

edcam Wrote:

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

> Ramble66 Wrote:

> --------------------------------------------------

> -----

> > All the estate agents we got valuations from

> used

> > 'if you sell through us we'll give you priority

> on

> > viewings' line.

> >

> > When I emailed one estate agent, who had given

> us

> > a valuation, about a property they'd sent me

> > details for, they replied saying there was a

> > priority viewing for their vendors and

> therefore

> > no room for us, unless of course we decided to

> > sell through them. Blatant blackmail.

>

> If that happened to me I'd put a note through the

> vendor's door, telling them the estate agent was

> limiting potential buyers.

xxxxxx

Happened to me, and that's exactly what I did.

ETA: And the estate agent tried to say that I must have "misunderstood" what I was clearly told on the phone :))

[miga]

.

[stephen509]

It's not just ED.

I saw a house last June by Penge East station that sold for around ?395k.

Similar house on the same road has come up this week at ?575k.

[Jeremy]

danrees Wrote:

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

> Same house in East Dulwich would be ?800k today. Is it really worth it?

You might as well say "why pay 2 million for a house in Chelsea when Wandsworth is half the price"?

Of course ED is not Chelsea... but when comparing an area to another which is a bit more central, smarter, more shops/restaurants/bars, etc, there's always going to be a large price difference. Some people would rather compromise location for more space, others would rather stay in a flat and live in their preferred area. Horses for courses.

[worldwiser]

If you could find a house worthy of the description for 2m in Chelsea, I'd be amazed. Come to think of it, I doubt you'd have much choice in Wandsworth!

[Jeremy]

OK, maybe try 3m in Chelsea and 1.5m in Wandsworth!

Point remains. Why buy a 500K house in Hither Green when you can have a house in Dartford for 250K?

[Zebedee Tring]

Possibly because Dartford isn't very nice and commuting costs into Central London would be much greater than from Hither Green. But of course if you can't afford to live in Hither Green, you might have to settle for Dartford.

[Earl Aelfheah]

I agree with Owen: http://www.theguardian.com/commentisfree/2014/apr/10/housing-hysteria-home-ownership-tories

[EDLove]

Jeremy Wrote:

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

> danrees Wrote:

> --------------------------------------------------

> -----

> > Same house in East Dulwich would be ?800k today.

> Is it really worth it?

>

> You might as well say "why pay 2 million for a

> house in Chelsea when Wandsworth is half the

> price"?

>

> Of course ED is not Chelsea... but when comparing

> an area to another which is a bit more central,

> smarter, more shops/restaurants/bars, etc, there's

> always going to be a large price difference. Some

> people would rather compromise location for more

> space, others would rather stay in a flat and live

> in their preferred area. Horses for courses.

Totally agree with you Jeremy. A lot of people would rather pay more to live in a nice area, even if it means less living space.

[LondonMix]

I am one if those people. I think ED should have a premium to other areas. However, personally I don't think it's that much nicer than Forest hill. The comparison would be Clapham being 50 percent more extensive than Balham. Historically, the premium between ED and surrounds was 20 percent.

[fizzmoll]

Do you guys think the further gentrification of nearby areas (Forest Hill, Honor Oak Park, even Catford) will even out the pricing situation? What will SE22/SE23 look like price wise 12-18 months from now?

[miga]

.

[LondonMix]

I think FH will grow faster this year until the premium comes down to something sensible. This is what's happening in ED vs prime Central London. Prime central London grew less than the London average with areas like ED etc well above avg.

[EDLove]

miga Wrote:

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

> EDLove Wrote:

> --------------------------------------------------

> -----

> > Jeremy Wrote:

> >

> --------------------------------------------------

>

> > -----

> > > danrees Wrote:

> > >

> >

> --------------------------------------------------

>

> >

> > > -----

> > > > Same house in East Dulwich would be ?800k

> > today.

> > > Is it really worth it?

> > >

> > > You might as well say "why pay 2 million for

> a

> > > house in Chelsea when Wandsworth is half the

> > > price"?

> > >

> > > Of course ED is not Chelsea... but when

> > comparing

> > > an area to another which is a bit more

> central,

> > > smarter, more shops/restaurants/bars, etc,

> > there's

> > > always going to be a large price difference.

> > Some

> > > people would rather compromise location for

> > more

> > > space, others would rather stay in a flat and

> > live

> > > in their preferred area. Horses for courses.

> >

> >

> > Totally agree with you Jeremy. A lot of people

> > would rather pay more to live in a nice area,

> even

> > if it means less living space.

>

> And often even if it means getting mortgaged to

> the max, and leaving little wiggle room for

> interest rises. It's very important to some folks

> that they live in the right area.

Sorry if not clear from my comment but I meant pay 'more' per square footage. The comparison would be two people with the same amount of money but opting to go for different things - one, a smaller house in a more desirable area, and the other, a more spacious house in a less desirable area.

Those who take risks with their finances can fall in to both categories. Just as many people will get mortgaged to the max to live in a nice area, others will mortgage to the max for a bigger place in a worse area.

[elise5]

I think the problem is people coming from other countries (China, Russia etc... ) buying in cash...

while for us UK resident is not easy to get a mortgage... we can't keep up... we will have to move...

also rents are going up... landlords asking for double the money now compared to last year...

i don't know today I feel very sad...

[Otta]

EDLove Wrote:

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

> Those who take risks with their finances can fall

> in to both categories. Just as many people will

> get mortgaged to the max to live in a nice area,

> others will mortgage to the max for a bigger place

> in a worse area.

And some will mortgage to the max just to get anything anywhere.

[EDLove]

Otta Wrote:

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

> EDLove Wrote:

> --------------------------------------------------

> -----

> > Those who take risks with their finances can

> fall

> > in to both categories. Just as many people will

> > get mortgaged to the max to live in a nice

> area,

> > others will mortgage to the max for a bigger

> place

> > in a worse area.

>

>

> And some will mortgage to the max just to get

> anything anywhere.

Fo sho! :)

[MrBen]

Despite what some keep saying. I've yet to see Russians or Chinese walking into Winkworths and asking for a 3 bed terrace on Goodrich Road.

"But its the trickle down from prime central areas".

Perhaps. But it's also lots of regular British buyers panicking and, in fear, paying daft prices in a supply constrained market for very average houses in a very average area.

Those ?1.2M houses of last month have already dropped 10%. And will do so again. There just aren't that many out there with that kind of cash/borrowing potential to sustain it in SE22.

[MrBen]

1000.