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#1 Palace_denizen1

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Posted 02 September 2014 - 10:24 PM

according to this map anyway, the last few years has been very good to the strip of neighbourhoods along the London Overground line.  

what are your experiences, or what data have you found ?  

 

http://southwarknote...-london-map.jpg



#2 CapitAl

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Posted 03 September 2014 - 07:56 AM

I live not far from the traingle. This year, in terms of asking prices, things went a bit mad in my road earlier on in the year, though maybe have quietened down now.

In terms of asking prices I'd say increases of 40 to 50% on the previous peak. 

 

I've yet to see the prices come through in terms of the land registry figures you get from sites such as nethouseprices, so it may be the case of unrealistic expectations. However properties did seem to go under offer and sell very quickly, so it seems they probably reached something like the asking price.

 

At the moment there seems to be a few newish build on the market at "ambitious" prices which are staying on the market longer than earlier on in the year.

 

I'm not particularly pleased with the state of affairs, rampant house price inflation is as bad as house price crashes in my opinion, from an economic and social point of view. Much better would be affordable house prices and a stable market. With the inbalance of supply and demand in London though, doesn't seem much chance of that.

 

Al



#3 therat

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Posted 12 September 2014 - 07:54 PM

http://www.ft.com/cm...l#axzz3D8Id9eXO

 

Above link, why Crystal Palace is the new Wimbledon. Today's Financial Times article by Caroline Thorpe.



#4 Trux

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Posted 12 September 2014 - 08:02 PM

http://www.ft.com/cm...l#axzz3D8Id9eXO

 

Above link, why Crystal Palace is the new Wimbledon. Today's Financial Times article by Caroline Thorpe.

Any chance of a copy/paste for those of us without a sub?

 

Anyhoo, just anecdotal data from me, but houses identical to the one we bought on the Anerley/Penge borders are now on the market for 30-35% more than 18 months ago. Could be that this particular area (in the SE20 postcode) were relatively underpriced, but it's still bonkers.



#5 Norwood lad

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Posted 12 September 2014 - 09:21 PM

Crystal Palace: Londons latest up-and-coming area
By Caroline Thorpe

John Grover, landlord of the Grape & Grain pub in Crystal Palace, reckons he can spot a south London neighbourhood heading upmarket. When I first moved to Wimbledon Village in 1995 it was like here: up-and-coming. Now its really snotty, he says jovially of SW19, the boutique-lined area famed for its tennis tournament.
Today Grover sees signs of SE19 better known as southeast Londons Crystal Palace following a similar trajectory. Ten years ago this pub was really ick, he says, nursing a glass of red in the friendly bar he has run for three years. The big change has been the overground [train line]. It opened up Crystal Palace. Its such an up-and-coming area. Property prices are going through the roof.
He should know. In March Grover was outbid for the freehold of the Grape & Grain. The successful buyer paid £1.9m more than twice the £875,000 asking price.
The overground line is certainly a factor in Crystal Palaces changing fortunes. Opened in 2007, it notably improved access to Londons financial districts. The nonstop journey from Crystal Palace to Shoreditch delivers you to the Citys fringe in 28 minutes, while Canary Wharf, via Canada Water, takes 25 minutes. However, there is another reason for what, local agents report, is a 20 per cent annual rise in property prices.
Last October the Chinese developer ZhongRong Group (ZRG) announced plans to rebuild the Crystal Palace itself, which burnt down in 1936. The palace was an architecturally celebrated, Victorian, cast-iron and glass structure originally erected in Hyde Park for the Great Exhibition of 1851, but later moved to the large local park that still bears its name. Widespread media coverage of the £500m proposal brokered by the mayor of London, Boris Johnson, and billed to include exhibition and conference space, boutiques and a hotel raised Crystal Palaces profile further.
A lot of buyers bring it up as it was so well publicised, says Bill Russell, associate director at local estate agents Pedder. Theres no doubt it attracted more people to the market those who want to get ahead of the curve.
According to Tyrone Eneh, sales manager at the Crystal Palace office of Kinleigh Folkard & Hayward, demand has soared in the past year, with homes selling for as much as 14 per cent over the asking price in the spring. Weve seen a 37 per cent increase in the number of viewings and a 67 per cent rise in the number of homes sold, says Eneh.
Those looking to buy in Crystal Palace will discover a village-like atmosphere and plenty of green space, including the aforementioned Crystal Palace Park, now home to Londons National Sports Centre. Three main streets make up The Triangle a gentrified mix of independent retailers, gastropubs and restaurants which has spectacular views of central London from its northern edge.
Period and new-build flats lure first-time buyers to the area, while upsizing households find it more affordable than historically more popular south London areas.
There are a lot of families moving from East Dulwich, because theyre realising its got a similar feel, says Russell, who adds that a strong creative community renders Crystal Palace edgier. The latter is still convenient for Dulwichs sought-after private schools: Alleyns, James Allens Girls School and Dulwich College.
Incomers are arriving from farther afield. Lots from southwest London, says Emma Humphrys of Hamptons International. Her agency recently sold a seven-bedroom, detached, double-fronted, period house in Harold Road for £2.39m.
While spacious Victorian architecture dominates, infill developments signal Crystal Palaces regeneration. Since the recession and in the past few years, many developers have seen the growth potential this area offers, says John East, new homes director at Kinleigh Folkard & Hayward.
The agency is asking £870,000 for a six-bedroom, four-bathroom house in a gated mews development half a mile from the station. It is one of two unsold properties remaining in the 11-home scheme.
Meanwhile, a top-floor flat on sale with Foxtons for £550,000 is typical of the areas generously sized Victorian conversion apartments, offering two large bedrooms, a 19ft reception room and a private garden.
Back at the Grape & Grain, talk concerns the lack of recent announcements about ZRGs palace revival. The developer has yet to appoint an architect from a shortlist including Dame Zaha Hadid and Rogers Stirk Harbour + Partners, despite its aim to do so over the summer.
Tom Chance believes the Chinese have lost their appetite and he is among a group of residents developing a blueprint for an alternative, community-owned scheme that would include affordable housing.
We need to have something tangible so that by the time [the ZRG proposal] implodes we will have an alternative, he says.
According to Arup, ZRGs lead consultant on the project, the proposal is still on track and negotiations are continuing between the would-be developers and the sites owners, Bromley Council.
Grover is sanguine. Its 50/50. Some people think it will bring investment, others think its a crap idea. But even if it doesnt happen, it will still be an upmarket area.
●National rail journeys to London Bridge or London Victoria take between 22 and 30 minutes
●Property prices have risen 20 per cent in the past 12 months, according to Hamptons International
●The Crystal Palace Overground Festival is an annual, community-led celebration of arts, music and culture
£400,000 A two-bedroom flat close to the overground station
£750,000 A four-bedroom, terraced house in need of refurbishment
£1.5m A six-bedroom, detached home with off-street parking

#6 Trux

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Posted 13 September 2014 - 04:31 AM

Thanks.

 

Who's the "group of residents developing a blueprint for an alternative" and what do they want?



#7 CapitAl

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Posted 14 September 2014 - 12:36 AM

Talk about trying to boost local house prices, £0.75m for a terraced house needing refurbishment. Don't think things are quite that mad yet.

 

Al



#8 Palace_denizen1

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Posted 27 August 2015 - 11:10 AM

and of course , the Overground has much to be thanked for.....

 

http://www.cityam.co...ground-stations



#9 JMS

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Posted 02 September 2015 - 12:39 PM

Yes it does. Improved connectivey to CP and a London orbital route.



#10 Tom_87

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Posted 02 September 2015 - 10:06 PM

Property prices are to do with perceptions. No rationality is involved.

#11 alywin

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Posted 16 September 2015 - 08:53 AM

Not to mention an influx of new agents into the area trying to drive up property prices.  The situation in Sydenham currently is ridiculous.  OTOH, I see a number of properties around here being reduced now, so I think said agents *have* pushed things too far.



#12 Palace_denizen1

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Posted 08 January 2016 - 01:13 PM

"This bidding war is concentrated in south and east London". - according to the article.   

 

http://www.homesandp...ghs-a98151.html



#13 Palace_denizen1

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Posted 19 March 2016 - 03:19 PM

surprised at the lack of interest.    Local prices have gone crazy again 

 

http://www.cityam.co...ease-this-month



#14 Norwood lad

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Posted 21 March 2016 - 09:07 AM

Crystal Palace was 3rd in the top 10 best places to live in London according to the annual in depth Sunday Times best place to live

 

http://www.standard....t-a3207686.html


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#15 Palace_denizen1

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Posted 25 July 2016 - 12:46 PM

thank heavens for Sainsbury's

 

http://www.standard....k-a3303421.html

 

 

and you may also like this map....

 

http://www.telegraph...for-homebuyers/

 

notwithstanding all the Brexit doom and gloom, our area should be insulated from the worst shocks hitting Zone 1.