X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Property-a-holics

    Nothing for sale in London under £250K!

    Yesterday, I got an email from an estate agent we sold a couple of properties through in North London.

    She wanted to know if I had any other 1 and 2 bed apartments stock for sale in N5. She had "buyers queuing up" and not enough properties.

    Ahhh ... estate agent speak, I thought!

    So I went onto RightMove to see how many one bed apartments were for sale in N5 under £250K.

    I was shocked with the results.

    There were only 5 and ALL of them were under offer!

    Additionally, there were only 2 one bed flats for sale under £300K. Everything else was under offer!

    I estimated our apartment is worth about £225K but I would not be surprised to put it on the market and get £250K for it as it seems there is a real drought of properties in certain North London post codes.

    It's certainly tempting! Smile

    [Image: house.png]Related reading:

    Another housing bubble is on the way

    Crossrail's effect on London property prices

    Would you risk this in South East London?
    1
    0
    London is bubbling .
    Distorted by the foreign investors its a law unto itself . Southern Europe in trouble they dive into London as a safe haven
    And I love it because the ripple effect will be felt in MK 50 miles up the road.
    When you see what you can get for 250K here........ 4 bed detached with study and double garage. Beautiful

    https://www.rightmove.co.uk/property-for-...01115.html


    I look forward to my portfolio doubling in value sooner rather than later :-)
    .
    0
    0

    Jonathan Clarke. http://www.buytoletmk.com

    Jonathan is right about the foreign influence on London prices. I saw an item on BBC tv local news a couple of days ago about the redevelopment of the Elephant & Castle area of London. The local MP, Simon Hughes, was interviewed bemoaning the fact that the local agents were not even bothering to market this place to locals but rather going straight to the foreign market and selling units off plan to willing buyers. I expect Simon Hughes has a web page and if so I expect there would be more blurb there about it.
    0
    0
    Breaking news from Property Reporter relevant to this thread:

    Housing demand in London will outstrip supply by 48% over the coming decade

    Household growth in London is expected to be much greater than previously anticipated, according to recent data from DCLG; Knight Frank’s “London Calling – London Residential Development Report 2013” is the first report to take account of these upward revisions.

    The total sale value of property currently in the planning and construction pipeline, for delivery between 2013 and the end of 2022, is £80 billion, based on current average property values

    New household growth projections from DCLG, which take into account Census 2011 data for the first time, show a near 40% rise in the number of new households expected to be created in London between 2011 and 2021: a total of 525,790

    The supply pipeline suggests that delivery of new units will fall far short of this, with an estimated 277,240 new units expected to be delivered over the next decade

    This shortfall is despite an uplift of 63% in 2012 on the 2011 figure in the annual number of residential units granted planning consent in London.

    Supply in central London boroughs will also be constrained, with pipeline data suggesting that new units delivered will meet less than half of housing requirements.

    Despite the undersupply developers need to be conscious of pricing, especially on the edges of prime central London, Knight Frank says.

    More on that story >>> here.

    @Brian

    An Evening Standard investigation found that estate agents in London were favouring investors over owner occupiers.

    All this news combined is very worrying for a massive housing bubble in London.

    Housing bubbles are bad news, unless, of course, you want to sell up and cash in!
    0
    0

    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com


    London is a big place - I can find you houses for sale under £250k!

    Yes, property prices in London are more expensive than the rest of the country and are increasing but there is still plenty out there for people to buy which doesn't break the bank.
    0
    0
    Thanks Sam. I was specifically referring to the N5 postcode in this instance. Smile
    0
    0
    Just sold 2 flats in central london for under £250,000. One was a studio in W2 the other a studio in Fizrovia, W1 (admittedly had a short lease) but these were both in central areas.
    They are there if you look hard enough Rolleyes
    0
    0
    Thanks Matthew.

    My flat was a one bed.

    Can you get one beds in those areas you mention (without short leases) for under £250K? Smile

    Out of interest, why did you sell these studios?

    If you had hung on a bit, you might have got even more for them! Smile

    London property hotspots ... 16 areas tipped for growth
    0
    0
    I always like to visit London now and again. It reminds me why I don't want to live there.

    Traffic, high costs, overcrowding etc.

    Last week a 10 mile queue on the M25 just because someone couldn't move a small cherry picker out of the way!

    I'll stay "up north" if that's ok. We have trees up here.
    1
    0
    Regards Freelancer
    (13-06-2013 12:01 PM)Freelancer Wrote:  I always like to visit London now and again. It reminds me why I don't want to live there.

    Traffic, high costs, overcrowding etc.

    Last week a 10 mile queue on the M25 just because someone couldn't move a small cherry picker out of the way!

    I'll stay "up north" if that's ok. We have trees up here.

    I was brought up in inner London (Hackney); there are more and better parks then in most towns. At the back of our house there was
    a) Springfield park
    b) Then the river Lea
    c) Then a few miles of open space

    However we did not have good tube links, but my dad had to drive to work anyway as he needed to have access to a car at the office for work use.

    When my parents retired to the countryside, they complain that they did not have as good an access to open space or as good view over open space as they did in inner London.

    However I will take Maple (Stockport) any day over London as a location to live, given what we can get for our money.
    0
    0
    I sold them as I am an estate agent not an investor. These were bank sales and were sold at market price. Yes you can find converted studios that have open plan kitchens at around these prices but all yields are going down at the moment as tenants leave central london and relocate to zone 2. If you have seen Cluttons, Douglas & Gorden and now Chestertons latest update it is very quiet in W1, W2, NW1, NW8, W9, SW1, SW3 and W8.

    https://www.lettingagenttoday.co.uk/news_...high-rents
    0
    0