What would you do- overvalued flat?

teddysmum

Zoopla cannot be relied upon , as, for instance,it has different values on nearly every house in our road, yet there are only two designs (admittedly some have no garage while others have a garage with extra room above), probably because, over the last 50 years, there have been different selling prices due to circumstances (One selling very cheaply, as an urgent probate sale was required).

KRB2725

If I was buying 700 properties I would expect to negotiate a decent discount.

ElsieMonkey

I know Uxbridge very well as I work there, plus I live not too far away in Pinner. Over 400k for a 2 bed flat in Uxbridge sounds too much, even if, for example, it's in amazing condition in the best part of uxbridge. We have just sold our 2 bed flat in Pinner for 405k (it is fully refurbished and in a highly desirable area and period block). And although Uxbridge is quite nice in places, Pinner is nicer and as a result a more expensive area, zone 5 as opposed to zone 6 etc. I think you're right when you say prices haven't risen much at all since the end of last year. I wouldn't pay more than what you've offered for something in Uxbridge personally. You could buy in a nicer area like Ruislip, Pinner etc. for that price!

economic

Agree that even in nice areas in zone 5-6 two beds shouldn't be more then around 400k. I paid around 550k for a two bed in Highgate next to the station if you want a comparison.

ElsieMonkey

economic wrote: »

Agree that even in nice areas in zone 5-6 two beds shouldn't be more then around 400k. I paid around 550k for a two bed in Highgate next to the station if you want a comparison.

Some 2 bed flats around me go for around 450k, but they are the ones that come with a garage, some with underground parking more. I've even see one sell recently that was up for 575k...it did sit on the market for ageeees though.

Uxbridge is a strange one. It's a student town first and foremost, and at the end of the tube line, but because of its proximity to Heathrow there seems to always be high demand for property (from those working in Heathrow etc.).

economic

Yes property is very location specific. It really is all about the location. My precious place despite being in zone two and what I thought was fairly priced took ages to sell. It wasn't exactly in the best location though being in Kilburn.

robatwork

economic wrote: »

Yes property is very location specific. It really is all about the location. My precious place despite being in zone two and what I thought was fairly priced took ages to sell. It wasn't exactly in the best location though being in Kilburn.

Just call it West Hampstead like every other sod in Kilburn does and it would have sold like that <clicks fingers>

nb73

Hoploz wrote: »

I'd be asking for a good discount if I was buying 700 of anything

Remind me never to sell you staples

Hoploz

nb73 wrote: »

Remind me never to sell you staples

Haha it's always worth asking for a discount, you never know, don't ask don't get lol

Booge

OK thanks for the responses. Its been about 6 weeks since I made the offer now and only 4 of the 6 flats have sold. The rest are still on the estate agent website. Which worries me a bit. Not sure whether it is just the market slowing before the Euro referendum or whether people think it is overpriced. Property normally goes pretty fast in this part of the world although the market is not the same as it was in the crazy period in 2013/14 in London.

I've decided to bring in a surveyor as I think I should get a structural survey done anyway and they can do the valuation along with that.

Jonathan.