Central London anyone having a hard time selling?

pickledpink

ChocolateLover wrote: »

I have done everything I can to make the place look its best ,its now empty and looks totally unloved:o ,but at least its "ready to go" ...ha ha ..I have been since last year ,I know when I put it on the market things were just starting to slow down,now ...well it looks like standstill,I have no choice at the moment but to accept the offer
Its literally a 2 minute walk from Hyde Park ,maybe because its a lower ground ? though that didnt put me off when I was buying
Choccy

You're a Troll, Choccy.

You don't own a flat 2 mins from Hyde Park - in your dreams!!!

Funny you can't put the link up isn't it?

You're just nutty.

Rabiddog_2

Yes you can be in negative equity for many years, happily paying your mortgage, no problem. And then one day you wake up look at house prices and think.. HEY!.. my place is now worth more than I paid for it.. best feeling in the world.
Lower Ground=basement
East Dulwich= NOT dulwich

Doozergirl

Rabiddog wrote: »

Yes you can be in negative equity for many years, happily paying your mortgage, no problem. And then one day you wake up look at house prices and think.. HEY!.. my place is now worth more than I paid for it.. best feeling in the world.
Lower Ground=basement
East Dulwich= NOT dulwich

Was it East Dulwich?! I didn't look!

It's alright but I'd much prefer Beckenham actually.

EDIT: You're having a laugh with that first one! That's a bit more West Norwood than Dulwich Village. It seems nice enough (few shops and restaurants there) but there's a rather nasty undertone. I used to drive that way everyday and my son went to nursery on Clive Road. A bus driver was attacked really viciously on that crossroads (it was on crimewatch) and there was a shooting on Clive Road and some complete nutter woman came to attack me in my car once; I had to reverse down the street :eek:

henry1st

Jenner

What made you choose Broadstairs ?

I am interested as I live here.

Daddy_Bear_2

danrees wrote: »

As a first time buyer, I wouldn't even dream of buying somewhere until an interest only mortgage is the same as or less than the rent on a comparable property.

A repayment mortgage would have to be less than renting to make buying an option. With renting you don't have any extra costs that you have when you own and you don't have buying and selling costs if you want to move. Within a month you can be gone. Anyway in a falling market there is simply no argument for buying. That's where we are right now, I'm a first time buyer and I won't be buying until there is a good chance of house prices going up again. They are going to fall 30-40% before there is a chance of that. I'll just keep saving so my deposit grows bigger and as I expect to wait patiently for the next 6-8 years before it's a good time to buy again I will buy a 4-bed detached home with 50% deposit when thousands of my generation will be stuck in the the little flats they overpaid for at the height of the great british property boom 1996-2007. As a second class 'renter' I will have the last laugh.

Daddy_Bear_2

Rabiddog wrote: »

I think the thing is that FTB have the guts and the reason,(mortgage famine) to stay out of what they see as a falling market...So when they perceive it has bottomed out, it will turn very quickly.. with many buyers piling in...but that could be two years away..

(is strafed a euphemism?)

Last time the property market crashed in the early 90's it took 6 years to bottom out around 1995-1996

This time around what has happened in Japan is more likely to be an indication of our future. In Japan house prices are still falling in real terms after 17+ years after a monster credit bubble in the 80's

Thing is these things are cyclical and the human emotion that drives prices up, the panic buying because 'you'll never get on the housing ladder' evaporates and goes into reverse and becomes don't buy now because 'you'll end up in negative equity'

And don't forget that generally when the housing market tanks, which it is, unemployment rises AFTER as consumption is hit. This is unavoidable now.

do_it_today!

Hi all :hello:
this has turned out to be an interesting thread so far...and feel in good company in that Im not the only person who feels London is becoming a bigger toilet and wants to move out instead of getting flushed down it!!! I would be interested to know how many succesful vendors have sold to move out of London? or even posters on here and where they have opted to live instead?
I can go below market value to sell but am reluctant to put house on market for fear of being stuck in selling limbo for a year

puddy

henry1st wrote: »

Jenner

What made you choose Broadstairs ?

I am interested as I live here.

it was a process of elimination. I wanted to live somewhere where the beaches are sandy and that I could afford and that wasnt at the other end of the country and that had a bit of life to it,,, so,, Broadstairs!! I actually cant afford Broadstairs for my budget, so its cliftonville for me,,, the 'avenues' donchaknow

katieowl_2

do_it_today! wrote: »

Hi all :hello:
this has turned out to be an interesting thread so far...and feel in good company in that Im not the only person who feels London is becoming a bigger toilet and wants to move out instead of getting flushed down it!!! I would be interested to know how many succesful vendors have sold to move out of London? or even posters on here and where they have opted to live instead?
I can go below market value to sell but am reluctant to put house on market for fear of being stuck in selling limbo for a year

A bigger toilet - LOL! It's turning into the PITS in SE London. I hate being here now, and fear for my kids every time they go out. Too much that has happened here in the last couple of years is less that a couple of people away! KWIM?

We've got lots of friends who have moved out of London, and still more that want to. St Leonards, Whitstable, Southend (although I'd have to say that they are not over the moon with the reality of that choice) Haywards Heath, are some of the destinations in this country. We know two people who have/are intending to move to France, and one who is deciding between Italy and France. Other friends are looking at moving to the Bath area.

We don't want to move abroad because of our kids, 16,18 and 21 - one finished uni this year and is staying in London, one is off to uni and one is due to start A Levels in September.....we've opted for Mid Wales, with the intention of being as self sufficent as possible, and a distinct possibility of work for my OH who is self-employed, as his work in London has all but dried up. Eventually we will do B&B, so we are looking in a touristy area, and I have to say that it isn't particularly cheap. We want to get rid of the mortgage, and have a lot of equity. We can afford a price drop - but not a massive amount or we won't have any 'money in the bank' which would be useful! The prices are dropping in Wales, but you still see the odd barn for conversion with one standing wall, and no services with 'outline planning permission' going for £300K :rotfl:

Regards

Kate

dopester

katieowl wrote: »

We can afford a price drop - but not a massive amount or we won't have any 'money in the bank' which would be useful! The prices are dropping in Wales, but you still see the odd barn for conversion with one standing wall, and no services with 'outline planning permission' going for £300K :rotfl:

:rotfl:

Strange - whilst we both find it amusing the property prices the sellers are asking in Wales, I also find it amusing the ballistic prices people think their property is worth in "toilet" areas of SE London, which people like you admit you have fear for your kids growing up in and an area you no longer like.