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Debate House Prices
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How far will prices fall in London?
Comments
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pickledpink wrote: »A friend of a friend recently sold their house in Dulwich, London and had 3 bidders after it - so good property in London is still selling.
For those who don't know, Dulwich Village is about 20 minutes from the West End of London.:j
http://www.rightmove.co.uk/viewdetails-11036901.rsp?pa_n=1&tr_t=buy&mam_disp=true
A lot of good property in London isn't selling, though - price is key.
Dulwich Village isn't 20 mins from the West End, though. It's a 10 minute walk to North Dulwich station from your RM link, then 15 minutes to London Bridge (by no stretch of the imagination is that the West End, and the trains terminate at London Bridge).
Then you'd take the jubilee line to Green Park, and the Victoria line to Oxford Circus (seems a reasonable bit of the West End to pick) which would take another 15 minutes.
So it's more like 50 minutes to the West End than 20....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I like the look of these 2 bed modern flats. But I wouldn't pay half of what they are asking as imo, they are well overpriced. Might give them a fiver :rotfl:
http://www.rightmove.co.uk/viewdetails-22385408.rsp?pa_n=1&tr_t=buy&mam_disp=true0 -
This year yes still above 200K but not many would be foolish enough to buy now when they know prices sky diving.
What about next year and the year after, and the year after that? It will be very hard to find a buyer who can actually get a mortgage.
I just don't think they'll drop that far. Mortgages are available as Banks make money from them (given you don't default), you just need a decent deposit as banks aren't willing to take such big risks these days.
Ok, so a lot of people will be out of work so can't save a deposit etc... But there will still be millions like myself, saving each month, waiting to get a house when the prices are right.
I think 2 bed flats might drop to 150k in that area, but not 3 bed houses. A couple both on 30k (which isn't unreasonable in London) could afford a 200k house with a 20k deposit. I know I'd buy if prices went to 200k in that area."Boonowa tweepi, ha, ha."0 -
neverdespairgirl wrote: »A lot of good property in London isn't selling, though - price is key.
Dulwich Village isn't 20 mins from the West End, though. It's a 10 minute walk to North Dulwich station from your RM link, then 15 minutes to London Bridge (by no stretch of the imagination is that the West End, and the trains terminate at London Bridge).
Then you'd take the jubilee line to Green Park, and the Victoria line to Oxford Circus (seems a reasonable bit of the West End to pick) which would take another 15 minutes.
So it's more like 50 minutes to the West End than 20.
You don't know what you're talking about, NDG!
I was brought up in Dulwich Village and it always only took me 20 minutes to get into the West End.
I used to drive up to Denmark Hill, go straight ahead to Kennington and turn left towards Waterloo Bridge - 20 minutes top whack!
As for suggesting it takes 50 minutes by train....:rotfl: It only takes 20 minutes by train to London Brtidge from PURLEY - and that's MUCH further out!
You've googled the wrong map, luv!:rotfl:0 -
Time is on the buyers side for the next few years at least.:D
I'm not sure such a conclusion can be drawn. A lot of my clients are finding thier mortgage payments have fallen significantly recently. This coupled with reducing Tax and inflation rate, plus lower fuel prices could point to the bottoming out of the property market.0 -
I guess NDG was talking door to door.
I used to live in Orpington and I could get a fast train to Victoria in less than 20 minutes
But with the cost of fares shooting up, may be living near a tube station is going to be a lot more desirable than it already is. 0 -
Conrad, its still the first time buyers who will stall the market if they cant get mortgage deals.0
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pickledpink wrote: »I was brought up in Dulwich Village and it always only took me 20 minutes to get into the West End.
I used to drive up to Denmark Hill, go straight ahead to Kennington and turn left towards Waterloo Bridge - 20 minutes top whack!
The Kennington end of Waterloo Bridge is hardly the West End! Traffic has got a lot slower in London than it used to be, and driving during the day (outside rush hour) from Dulwich Village to the West End would just not take 20 minutes.pickledpink wrote: »As for suggesting it takes 50 minutes by train....:rotfl: It only takes 20 minutes by train to London Brtidge from PURLEY - and that's MUCH further out!
You've googled the wrong map, luv!:rotfl:
I didn't look at any map. I used to go regularly from North Dulwich station to London Bridge, and it's a 15 minute train journey, as I said. 50 minutes is including walking to ND station and getting the tube to Oxford Circus.
Have a look at Network Rail's journey planner. There you will see that it is indeed a 14 or 15 minute journey. For example:
North Dulwich (NDL) to London Bridge (LBG)
Departs Arrives Duration Changes 17:36 17:50 0:14 0...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Whenever I see 20 mins from any zone 2/3 south london station to the west end the word !!!!!!!! always springs to mind. Sorry."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
Don't you think 2 million redundancies (that's one prediction I've heard) would make a difference in the property market? People without jobs have trouble getting mortgages, regardless of how many are available.
Not in the London property market, no.
Firstly, the potential 2m unemployed won't all be in London. London will lose jobs, but a lot of these will be in the financial services sector - traditionally people who have savings, and already own, but who won't get their home repossessed, and so won't add to the supply of homes.
And secondly, demand in London is always higher than elsewhere. Even if people do become redundant and as a result, don't buy, the effect will be smaller than elsewhere.0
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