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#16 Retired Member 1

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Posted 27 June 2007 - 09:57 AM

I ahve 5 more viewings this weekend then I think i will withdraw cause sick of spending my week-ends looking at properties ---- the sparkle has gone! ARGH!!!

But as they say, never say never, I might find the house I want .... yeah right!!!!
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#17 HillBilly

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Posted 27 June 2007 - 01:12 PM

http://www.telegraph.../plondon126.xml

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#18 Retired Member 1

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Posted 27 June 2007 - 04:20 PM

I withdrew!

3 properties I was going to view have been sold at price above the asking price!

just too much hassle
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#19 richie

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Posted 16 July 2007 - 12:09 AM

Just wanted to comment on the hike in house prices over the last 6months.. 6 months ago top end for a 2 bed flat in Belv Rd/Waldgrave/Anerley Grove/ was around 250K now prices have jumped up over 300K. A 2 bed in Waldgrave is currently on the market at streets ahaed for 304K and split levels 2.5 rooms in Anerley grove for 350K....

Is anyone else noticed this ? Is the market about to crash... I have a place and was just curious on the prices - but did not expect them to be this high !!!

#20 Elmo

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Posted 16 July 2007 - 10:36 AM

Yup - I noticed it when I was up the triangle yesterday. The prices are high, but these are what the agents are putting property on at, not the price they're selling for...

That said there does seem to have been quite a hike in the last 6 months, we'll certainly have to move further away once we outgrow our flat. It's gone bonkers round here and we can't afford it! <_<
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#21 Dazza

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Posted 16 July 2007 - 11:23 AM

I'm sure it will drop again.

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#22 Elmo

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Posted 16 July 2007 - 12:09 PM

Not far enough I fear.
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#23 Nick

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Posted 16 July 2007 - 12:09 PM

In the market today asking prices do not necessarily resemble actual selling prices. It is always worth bidding lower and seeing what you can get.
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#24 loplop

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Posted 16 July 2007 - 12:18 PM

But then, if LSPE's recent experience is anything to go by, the situation around CP seems very different at the moment, Nick ?
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#25 James

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Posted 16 July 2007 - 12:25 PM

You can get a better picture using the House Prices web site...
http://www.housepric...SE19 1RX&show=s

Just enter your postcode.

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#26 Dazza

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Posted 16 July 2007 - 01:05 PM

These sights do tend to be quite a few months behind so if you are looking to see the recent price explosion it wont really reflect it.

Mind you I reckon a crash is only around the corner.


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#27 James

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Posted 16 July 2007 - 01:16 PM

It shows the price I sold my flat for just over a year ago. Whilst it may not reflect the last few months it does give you a fair indication of the prices paid for nearby property which can help you determine whether you may be looking at a decent price. The price inflation may only be for specific types of properties in certain areas. More importantly the pricing 'heat map' can guide you to areas where you are searching that may be nearby to something more affordable. If you are considering a viewing it is definitely a good idea to check out the pricing history for the street before you go. You can also see whether a property has changed hands several times in just a few years and tally that against the questions with the agent. e.g. why are you selling after living here for just two years? It really cuts to the chase in finding out more.

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#28 Retired Member 1

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Posted 16 July 2007 - 04:25 PM

I do not think there will be a crash (i.e. shock of the system) unless something extraordinary happens (terrorism, the City collapses, the Bank of England pushes the interest rates VERY high) but surely there will be a cool down (signs are there).

If you have a property and goes under offer, try to get one property a.s.a.p. otherwise few months down the line and the borrowing you need increases considerably. When my flat went under offer and I had my offer accept on the property I wanted to buy it was all going good; when the vendor pulled out 2 months down the line I had to increase the borrowing by 30k+ and I did not like it.

Re properties in CP (back into the subject) I referred to 2 properties in E11 and 1 only was in SE19 (sorry for the confusion) where the offers were higher than asking prices (but these properties were peculiar and very nice too).

I have noticed that whilst few months ago properties were bought and sold in a fortnight (more or less), now it seems as if the time-gap has stretched and I can see several properties for sale for quite a while now (over 1 month).

I think (and I might be wrong) that when it was a bargain to buy in CP (until March/April this year) we had a rush of new buyers, but now prices have levelled with many other areas in London so some buyers have looked around.

As I love CP and I could not find what I liked/afford I decided not to sell and move, otherwise other areas were appealing and closer to commute ..
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#29 Bosie

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Posted 16 July 2007 - 04:44 PM

I think a lot of it has to do with what the estate agents are telling vendors to market their property at. Each time a flat comes on the market in my area the price seems to be considerably higher than the last one, there does not seem to be any way of judging what say a 2 bed flat costs. And as someone said before the house price sites are too slow in actually giving sold prices.

It may be estate agents being greedy and trying to earn more commission or it may be that as more and more people are priced out of pricier areas they are looking around here and therefore creating a higher demand which is pushing prices up. I am sure that they will level off soon. If we start to approach the prices of more expensive areas people will start looking there instead and if demand drops so will prices. I don' think that West Norwood and Crystal Palace for example will never catch up with Dulwich in price.
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#30 Dazza

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Posted 16 July 2007 - 06:05 PM

Something is only worth what you are willing to pay for it !

I'm not an economist but to expect growth like this year on year is not possible its just a rubber band waiting to snap.

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