how much will London house price crash by?

TheeMaskedTurnip

Obvious troll is obvious.

catoutthebag

Hardly. I have friends and relatives in London so I'm curious. Obviously you have no input.

I'm a first home owner and I know the effects in the capital will ripple across the country, but the biggest market correction will be in London.

400k 1 bed flat in Tottenham is not sustainable.

Nothing can keep going up up UP.

chucknorris

catoutthebag wrote: »

Hardly. I have friends and relatives in London so I'm curious. Obviously you have no input.

I'm a first home owner and I know the effects in the capital will ripple across the country, but the biggest market correction will be in London.

400k 1 bed flat in Tottenham is not sustainable.

Nothing can keep going up up UP.

You are quoting the most expensive flat on rightmove, so it is hardly typical of Tottenham, there are 4 pages of one bed flats, and they start at half that price. We have a 3 bed, 2 reception Victorian house in Tottenham, and I would guess (I don't actually need to know) it is worth about £500k. I would never buy a one bed flat for £400k, if I could buy a much larger freehold 3 bed house for around £500k

Generali

catoutthebag wrote: »

400k 1 bed flat in Tottenham is not sustainable.

I agree but are there many of those?

chucknorris

Generali wrote: »

I agree but are there many of those?

There are 4 priced more than £375k, overpriced IMO (but then it can be very subjective):

http://www.rightmove.co.uk/property-for-sale/property-38898336.html

http://www.rightmove.co.uk/property-for-sale/property-38015220.html

http://www.rightmove.co.uk/property-for-sale/property-39519042.html

http://www.rightmove.co.uk/new-homes-for-sale/property-52118537.html

mwpt

Those links reminded me to check Wood Green area again as Mr. P Bear has been advocating it for a while. I like where I live but moving to an up-and-coming area is not out of the question for me, particularly if I could get more value. But is this the sort of thing I should be looking at:

http://www.rightmove.co.uk/property-for-sale/property-39526392.html

This would be a downgrade for me, for a higher price than my current house (yes, I'm not a property millionaire).

Is it the transport and proximity to actual nice areas that is pushing up prices there? Is there suddenly a nice vibrant high street scene with cool burger bars and craft beers around? I'm not saying Paddington was wrong, clearly prices have gone up, I'm curious, why? And also curious, is that the best I can expect for around that price?

padington

mwpt wrote: »

Those links reminded me to check Wood Green area again as Mr. P Bear has been advocating it for a while. I like where I live but moving to an up-and-coming area is not out of the question for me, particularly if I could get more value. But is this the sort of thing I should be looking at:

http://www.rightmove.co.uk/property-for-sale/property-39526392.html

This would be a downgrade for me, for a higher price than my current house (yes, I'm not a property millionaire).

Is it the transport and proximity to actual nice areas that is pushing up prices there? Is there suddenly a nice vibrant high street scene with cool burger bars and craft beers around? I'm not saying Paddington was wrong, clearly prices have gone up, I'm curious, why? And also curious, is that the best I can expect for around that price?

I gave you an extensive list last time we spoke. Its not crouch end but crouch end is just a quick bus away. If you want craft beers localy you get them in the local weathersooons for half the price when they have their craft beer offerings or ally pally on a beer fest. You don't live in Wood Green for its craft beers though. You live in Wood Green because you just might be able to afford a place with a nice garden just 20 mins away from South Kensington, Hyde park or Covent Garden and where the local shops supply everything at often half the price than elsewhere.
.

sputnik1957

I think a retrace is likely. But not much over 10% because demand is there.

padington

catoutthebag wrote: »

Hardly. I have friends and relatives in London so I'm curious. Obviously you have no input.

I'm a first home owner and I know the effects in the capital will ripple across the country, but the biggest market correction will be in London.

400k 1 bed flat in Tottenham is not sustainable.

Nothing can keep going up up UP.

Why is a skanky 500'000 flat in Muswell hill sustainable and a nice 400'000 one in Tottenham not ? Maybe you need to change your expectations of the type of people that now want to I've in Tottenham ?

Normal family period homes Plus 30% minimum over the next 5 years.

Tottenham is going for bargain basement prices right now. Fill your boots.

So says every major study done on the subject.

chucknorris

padington wrote: »

Why is a skanky 500'000 flat in Muswell hill sustainable and a nice 400'000 one in Tottenham not ? Maybe you need to change your expectations of the type of people that now want to I've in Tottenham ?

Normal family period homes Plus 30% minimum over the next 5 years.

Tottenham is going for bargain basement prices right now. Fill your boots.

So says every major study done on the subject.

I think a £400k one bed flat in Tottenham looks overpriced because the differential when compared to houses isn't enough.