Is ED about to experience another property boom?

[Emily]

So many sold signs everywhere, so much building work, houses selling fast... is this the bottom of the market for ED?

[????]

er.....boom? no

[dulwichdoll]

Errrrr No. Keep taking the drugs and it will all look better................

[Emily]

we are buying very locally, a bigger house.

[Sue]

Doesn't mean the sellers got the price they wanted, does it?

[Emily]

Well, we did OK!

[Sue]

One swallow doth not a Summer make. Or something.

Been on the Stella? No not me :))

[BigPhil]

According to Nationwide the average house price went up 1% last month

what this actually means for my 1 bed flat , I have no idea

[Sue]

Was on Evening Standard billboards tonight - something like "house prices rise at last."

Got a way to go though before my house hits the dizzy heights it reached at one point, shame I needed somewhere to live really or else I would have sold it then :)

[northlondoner]

Well done Emily. I happen to think we will soon see a recovery. There are so many voice determined to talk the economy down, it's not surprising that you have encountered such scepticism on here.

[red devil]

I'm surprised someone is even contemplating another property boom.

Have we not learned anything from the last 18 months, apparently not...

[JohnL]

The quarterly figures were massive falls though

So maybe a small bounce would be expected.

Like this quote in the Telegraph

'The "green shoots" visible in the economy and stock market were at risk of being exaggerated into "tropical rainforests" said Bob Janjuah, a strategist at Royal Bank of Scotland.'

http://www.telegraph.co.uk/finance/5095371/Green-shoots-in-housing-prices-stock-market-and-banks-economists-hope.html

[????]

erm , scepitism or realism?

- houseprice to earnings ratios are still too high we are still well over inflated and SE22 was certainly among those areas where prices frothed more than most

- first time buyers who haven't got 10% (and that's a minimum and for the worst deals - you need 25% to get a really competitive one) can't get a mortgage

- unemployment will still rise

- rents falling so I suspect there's a few houses/properties that will come back on the market as soon as prices show a hint of rising which will then keep prices low

- volumes of houses being sold are still historically amazing low

The bottom of the market? Maybe (my suspicion is no)

A boom!!!! No way and as was pointed out the excessive housing boom of the past few years is a major reason we are in this crap.....

[AllforNun]

" houseprice to earnings ratios are still too high we are still well over inflated and SE22 was certainly among those areas where prices frothed more than most " ..........mmmmmmmmmm ?

Dear latecomers sarf london prices were so under valued that they barely began frothing ! you are all safe, if you reign in your spending. Better still you don't live anywhere near wimbledon, surbiton or any other west london hot spot of fucking overinflated blandness !

[snorky]

The cycle of greed begins again, after a small blip

people never learn / have short memories/ have VICTIM tatooed across their forehead

[jayes]

It's just one source saying a 0.9% bounce. Another gives a 1.9% fall from the previous month (See BBC web this morning).

We're nowhere near a houseprice recovery...sure, there are still some people buying, thinking they're getting a good deal now...in 6 months time prices will have dropped a further 8-10% and will still have scope for futher falls.

[Louisa]

"Pure flights of fantasy, there is no such place as Sheffield, people arnt unemployed!"...

.... "So many sold signs everywhere, so much building work, houses selling fast... is this the bottom of the market for ED?"

from one fantasy quote to another... someone needs a reality check!

Louisa.

[grabot]

Looks like a bull trap to me.

[matthew123]

In truth no one knows which direction it's going to take - same with the stock market.

I personally think it will be a rocky ride of peaks and troughs for next few years. At end of day don't buy something with the view of moving on after 2 years, buy something that if sh1t hits the fan you'd be happy to bunker down in for 10 years.

[Rockets]

I noticed the higher number of boards going up in the last few weeks and wondered whether these were green shoots or people being forced to sell due to redundancies. Interestingly, there are some very competitive mortgage deals out there if you have a big deposit and maybe those city folks who are still getting bonuses are looking at this as a good time to get into East Dulwich.

In fact, two agents recently dropped letters through our door saying we have folks wanting a house in your road - maybe they are bluffing to get valutations done but we have not had those for a long while now. And pleasantly surprised when we got an initial valuation on our property for a mortgage application - it was a lot better than I thought it was going to be.

[macroban]

Emily reminds me of the lyrics of an early Pink Floyd song.

[dulwichdoll]

As in one flew over the cuckoo's nest !!

[lenk]

I was told on this very forum almost a year ago that Foxton's would be closing and replaced with a Sainsbury's / Somerfield / another branch of Foxton's

I'm still waiting... : (

[AllforNun]

Well the mouthpiece of the state (bbc) are frantically being told to talk down the house price rises that every lender and most papers and anyone who cares looking at any property websites will be abe to figure out for themselves, house prices are levelling, the market is thawing and in some cases rising slightly........independent my arse ! and we pay their fucking fines !!!!!

[northlondoner]

AFN: Very good point. ED remains stunningly underpriced compared to many other areas in London.

What you pay for a house in the 'hood will only get you a flat in Crouch End - and in many other less salubrious spots.

SNORKS: Heartening to see a return to splenetic form! Snork 2.0 never did ring true!

EMILY: Please ignore all the doomsayers. Its not surprising they take a negative view when the mood music pumped out by the media is unrelentingly gloomy. Too many media types get a real boner from making sure a bad situation looks like an unmitigated disaster. If it bleeds, it leads. I say this as one who is all too familiar with that unhappy breed.