Is London bucking the trend?

hethmar

I keep reading on this forum about the bargains available in the housing market but Ive trawled and trawled for a 2 bed flat in North London and it seems to me that there has been little downward movement since last year?

PasturesNew

What tools are you using?
Are you using Property Bee?

fatpig_2

No real change in London house prices apart from the scummy areas like East london where nobody wants to live. The Land Registry reckons they're still going up in actual fact.

SquatNow

No-where will "buck the trend".

Some places will fall faster than the average, some will fall less.

All will fall at a rate currently unimaginable to most people.

No-one has experienced this situation before in history.

The word "bad" doesn't cover it.

lynzpower

DOnt think london is bucking the trend at all. Ive seen 50-60k slices off parts of east london where I used to live.

Archway 2 bed flat -reduced by 36k http://www.rightmove.co.uk/viewdetails-20814044.rsp?pa_n=1&tr_t=buy

Wood green 2 bed flat was 200- now "from 150"
http://www.rightmove.co.uk/viewdetails-17853235.rsp?pa_n=2&tr_t=buy

Install property bee, youll see the asking perice drops yourself :beer:

fatpig_2

There's a big difference between changes in asking prices and changes in actual sale prices though.

mrsukyankee

fatpig wrote: »

There's a big difference between changes in asking prices and changes in actual sale prices though.

Yup - in NW London a lot of people won't drop their prices and are asking for prices higher than last year...but they aren't selling. The few properties that have sold have dropped their price. I just think that many people in London just aren't being realistic or just don't really WANT to sell right now (or need to). Needless to say, Foxton properties are the worst...priced way to high and not selling.

ali82

fatpig wrote: »

No real change in London house prices apart from the scummy areas like East london where nobody wants to live. The Land Registry reckons they're still going up in actual fact.

I beg your pardon, take that back :rotfl:

The eastend is quite nice actullay, you have to know where to go :rolleyes:

MoneySavingSpender

http://www.londonstockexchange.com/en-gb/pricesnews/investnews/article.htm?WBCMODE=Pr,Pr,Pr,Pr?ArticleID=18755872

http://www.ft.com/cms/s/d23b1cb2-75bf-11dd-99ce-0000779fd18c.html&cid=1240862704&usg=AFQjCNGQA-j9-36cc-ipzm0XnVRZ_CnYLw

http://www.guardian.co.uk/money/2008/aug/18/houseprices.housingmarket

Severe wishful thinking on the OPs part.

pizzagirl

mrsukyankee wrote: »

to). Needless to say, Foxton properties are the worst...priced way to high and not selling.

Yes, they really are the pits. They get business by grossly inflating their house valuations. This gives vendors unrealistic hope. Panorama even caught them on camera admitting to this practice!

hethmar

Moneysavingspender - no not wishful thinking - Im really hoping they would have dropped so that it made a 2 bed flat in a decent area affordable but I cant find anything that seems to be less than when I checked 6 months and a year ago.

I can understand that the millions of pounds, or near, sort of property is showing a decrease of many thousands but most of us arent looking at that level of purchase.

LOL, re Foxtons, a friend worked in the same building as a Foxtons agency - he reckoned every time they made a sale you could hear a bell ringing and a roar of cheers. Gawd.