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How is the London market?

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Comments

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    http://www.itv.com/news/2017-04-14/29bn-wiped-off-british-property-market-in-just-three-months/
  • zagubov
    zagubov Posts: 17,886 Forumite
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    I noticed that the central London flat I used to rent has dropped in value over the last few months. My current house deep out in the 'burbs doesn't seem to be affected, but t's a family home n a good school area.
    There is no honour to be had in not knowing a thing that can be known - Danny Baker
  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    E4 - flat as a pancake. Typically, it seemed to start the week I put my house on the market last month LOL *rolls eyes*

    Six months earlier and I'd have had 30 viewers lined up and an offer over the asking price.

    Not sure it'll lead to a crash (sorry Crashy!) - I think it's people generally being initially very cautious about Brexit, plus about the prices in my area which have almost doubled in four years. I don't blame them for thinking they've reached a static point which they're unwilling to pay top whack for. Definitely been lots of reductions lately (me included!).

    Jx
    2023 wins: *must start comping again!*
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    hazyjo wrote: »
    E4 - flat as a pancake. Typically, it seemed to start the week I put my house on the market last month LOL *rolls eyes*

    Six months earlier and I'd have had 30 viewers lined up and an offer over the asking price.

    Not sure it'll lead to a crash (sorry Crashy!) - I think it's people generally being initially very cautious about Brexit, plus about the prices in my area which have almost doubled in four years. I don't blame them for thinking they've reached a static point which they're unwilling to pay top whack for. Definitely been lots of reductions lately (me included!).

    Jx


    Don`t worry, I`m sure other global events affecting currency/credit markets will do the job. The problem with sentiment is that it doesn`t act in a rational fashion. Having said that I still hope you get a buyer.
  • Running_Horse
    Running_Horse Posts: 11,807 Forumite
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    Have you also checked Rightmove's sold STC feature?

    I'm guessing anything decent put on the market in spring has been sold.
    Been away for a while.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    I think the OP answered their own question?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    http://www.wharf.co.uk/news/property/tower-hamlets-house-prices-falling-12890874
  • Lamy_2
    Lamy_2 Posts: 40 Forumite
    If you were buying a house in London at this point in time would you buy now or wait then?
  • Filo25
    Filo25 Posts: 2,131 Forumite
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    Lamy wrote: »
    If you were buying a house in London at this point in time would you buy now or wait then?

    With a cooling market I wouldn't feel the need to rush onto the market aggressively for fear of missing out anyway!

    But I think its the same as always, if you find a property you really like at a price which works for you I wouldn't be put off putting an offer in personally.
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
    key is to make offers, as already mentioned i offered well below asking and stuck to my guns (don't show seller/EA how much you really like it), a few more weeks and no offers the seller came begging, and even managed to include all the newish white goods he had bought, into my original offer.
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