Anyone else selling a London flat?

[Deleted User]

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Sarah1Mitty2

[Deleted User] said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

silvercar

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

Sarah1Mitty2

silvercar said:

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

sturgeon

Sarah1Mitty2 said:

silvercar said:

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

It’s a lot of money, sure, but 1000’s of similar sized 2 bed flats sell for £100,000’s more in London. So I dread to think what a poor investment a £750k-£1m 2 bed flat is. The market dictate these prices and it’s what people pay depending on the area. 

PartyOfFive

Sarah1Mitty2 said:

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

All your comments just betray how ignorant you actually are about the London market.
Unless you have actually bought or sold a property there, your opinions are essentially worthless.

I sold my 2 bed flat at the end of April for 900k - bought at 375k 8 years ago.

Quite a different area area of London to Colindale granted, desirability wise, but when I bought it was probably considered in the same breath.

Sarah1Mitty2

PartyOfFive said:

Sarah1Mitty2 said:

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

All your comments just betray how ignorant you actually are about the London market.
Unless you have actually bought or sold a property there, your opinions are essentially worthless.

I sold my 2 bed flat at the end of April for 900k - bought at 375k 8 years ago.

Quite a different area area of London to Colindale granted, desirability wise, but when I bought it was probably considered in the same breath.

PartyOfFive said:

Sarah1Mitty2 said:

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

All your comments just betray how ignorant you actually are about the London market.
Unless you have actually bought or sold a property there, your opinions are essentially worthless.

I sold my 2 bed flat at the end of April for 900k - bought at 375k 8 years ago.

Quite a different area area of London to Colindale granted, desirability wise, but when I bought it was probably considered in the same breath.

How much did the next house cost, did you downsize to lock in the profit? Can you link to the area so we can check out the price rises with PropertyLog?

Sarah1Mitty2

sturgeon said:

Sarah1Mitty2 said:

silvercar said:

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

It’s a lot of money, sure, but 1000’s of similar sized 2 bed flats sell for £100,000’s more in London. So I dread to think what a poor investment a £750k-£1m 2 bed flat is. The market dictate these prices and it’s what people pay depending on the area. 

Can you link to some areas where these are selling?

sturgeon

Sarah1Mitty2 said:

sturgeon said:

Sarah1Mitty2 said:

silvercar said:

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

It’s a lot of money, sure, but 1000’s of similar sized 2 bed flats sell for £100,000’s more in London. So I dread to think what a poor investment a £750k-£1m 2 bed flat is. The market dictate these prices and it’s what people pay depending on the area. 

Can you link to some areas where these are selling?

Literally 10,000’s online, just search sold house prices. Imagining no London flat sells for over £400/450k is living in dream world. 

Sarah1Mitty2

sturgeon said:

Sarah1Mitty2 said:

sturgeon said:

Sarah1Mitty2 said:

silvercar said:

Sarah1Mitty2 said:

Deleted_User said:

I wouldn't touch Canning town with a barge pole......

In my area they are now selling off plan studio flats for 675k (albeit a large studio) and a standard one bed 720K. This are luxury brand new builds, but seems nuts to me. It is unclear if they are actually selling but they are building them.

It depends what people want, I chose a studio because I wanted to be in zone 2 and be in central in 15 minutes. Others said I was nuts and could have got a house, yes but either ex council (anyone who buys ex council is also nuts, trust me, I spent the first 25 years in one) or far away for the same money. Someone will come along sooner or later for any property within reason. If they are developing an area it is better to wait it out and sell higher. It is certainly the case in my area, I plan to pay off and sell around 2030-3 and get a good return to buy a proper flat in the same area!!!

Not at last years prices though, the landscape has changed completely, far too many of these new-build type flats have been built.

If you knew the area, you would know that a lot of the new(ish) builds in the area are cladding issue blighted still, the real new builds are smaller to fit under the 450k barrier, so there is every chance that this flat is in a good position for a sale at the current time. At least now the area is established, a few years ago it wasn't so popular and ripe for regeneration. 

450k is a LOT of money for a small flat, not a good investment at all in my opinion, and remember these "London Prices" were built on near zero interest rates which are no longer with us.

It’s a lot of money, sure, but 1000’s of similar sized 2 bed flats sell for £100,000’s more in London. So I dread to think what a poor investment a £750k-£1m 2 bed flat is. The market dictate these prices and it’s what people pay depending on the area. 

Can you link to some areas where these are selling?

Literally 10,000’s online, just search sold house prices. Imagining no London flat sells for over £400/450k is living in dream world. 

Nobody said that "No London flat sells for over 400k", I said that all the London price bands were inflated by cheap debt and will be deflating as debt gets back to a more normal price range, that is two completely different statements.