London House Prices - next 6 months?

Rautavaara

westlondonbuyer wrote: »

Similarly, the price of flats in W8 is around -5% since 2007 peak; but in neighbouring (and much grubbier) Hammersmith & Fulham, some (*some*) streets are up 15%.

Hey! I live in Fulham. Not grubby at all ... although if you compare anywhere to Kensington & Chelsea they're more than likely going to come off second best.

Prices in Hammersmith & Fulham are the 3rd most expensive in London. You can't even get a studio for 200k. Most 1-bedrooms are priced around 230k in the Fulham area, and a little less in Hammersmith.

For first time buyers, this is madness. It's a real shame as I'd love to have a place in the area I grew up in, but that not going to happen anytime soon, not unless a long-lost unknown-to-me uncle leaves me 50K is his will ... :eek:

Rautavaara

Gwhiz wrote: »

I'm going to stick my neck out and say that prices will either go up, down or stay the same.

You heard it here first

I value your insight

westlondonbuyer

Rautavaara wrote: »

Hey! I live in Fulham. Not grubby at all ...

Not slagging off your manor at all - I'm also in W6

But c'mon, given the choice wouldn't you rather be in W8 or SW3?

brit1234

Rautavaara wrote: »

I have seen a couple of places in Ealing, which would be ideal, but they are at the top of my price range.

Ealing is a huge bubble waiting to burst. It was shown in 2003 on BBCs Money Program that there was mass fraud raising prices there by almost all the local brokers. Broker after broker was encouraging FTBs to inflate their wages to get a mortgage, program link below.

http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB#

brit1234

westlondonbuyer wrote: »

Not slagging off your manor at all - I'm also in W6

Unless its St Peters Square I wouldn't brag about your W6 postcode.

tanith

brit1234 wrote: »

Ealing is a huge bubble waiting to burst. It was shown in 2003 on BBCs Money Program that there was mass fraud raising prices there by almost all the local brokers. Broker after broker was encouraging FTBs to inflate their wages to get a mortgage, program link below.

http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB#

This probably happens everywhere not just in Ealing..

Jowo_2

Rautavaara wrote: »

Anyone have any ideas as to what house prices are doing at the moment?

.

Yes, they are going up/declining/staying static, depending on the publication you read and the area you are looking at...

I know an estate agent in Brighton still showing properties to the same people for several years in a row who exited the market at or around the peak and who are too nervous now to re-enter. Their patience may or may not bag a bargain, and this will also depend on the rent they've paid out for the last couple of years waiting for the market to collapse.

hazyjo

I'm in East London and selling a 2 bed for the same price I paid in Aug 2006. The 3 beds were up to or just over £300k over the last 2 years, but now they've been dragged down to the £250k figure cos of stamp duty. It'll probably be a while before they're back up to £300k. This will obviously affect the price of 1 and 2 bed properties so keep a close eye on all the market where you're looking.

Purely cos of the time of year, there might be a slight surge I think. Spring is usually the most popular time for people to look... but if it's anything like last year (and most years), it will quieten down in summer and the latter half of the year. A lot want to move before the new school term in September, so the market might be a little bit deceptive up to about May/June. Not that they'd be going for the sort of thing you want, but it might affect the area you're looking in general.

After summer, it'll probably be a bit like this year where prices start to drop a little, or things are hanging around on the market, and people say they'll wait until next year... I can't see prices zooming up hugely and if they do go up, I bet they'll be back to where they are now by the end of the year. I reckon it'll be another 2 years before we see huge price increases.

Of course, keep an eye on interest rates too! You don't really want to be saving on the price of something only to be paying more back each month cos of higher interest rates.

All my opinion only, of course. Not Mystic Meg, and no expert!

If I were you, I'd probably keep saving and try to get a 2 bed over a 1 bed.

Jx

tiny_tear

i'm in East London selling a flat i bought in May 2005.
it's a lovely 1 bed, and I am willing to accept what I paid for it back then even though I changed the boiler and put in double glazing...

it was in this week's evening standard (i was surprised by it) but no idea if those adverts work....

happy_2008

Where are you guys selling your flat in East London and how much for out of interest?