In your opinion, are house prices likely to remain flat for the next 6-12 months?
Of course, this depends on what areas you are looking in and what type of properties.
In my case, I'm looking for a decent 1 / 2 bed flat in the SW London (Chessington, Tolowrth, Surbiton), SE London (Sydenham, Penge etc) or S London (Croydon).
Just wanted to check whether I need to jump on this quickly, or can afford to wait a little longer.
We have just purchased a 2 bed flat in Sydenham. Prices are rising rapdily in this area. We had our offer accepted in Feb and moved in 10 days ago. During that time prices crept up alot. We were nervous because we knew that if our purchase fell through (as 4 others had in the past year in the area!) we would have no hope of getting a property of the same standard within our budget. I can't speak for SW London but around here there is a huge lack of supply for victorian conversions (Admittedly there seems to be a few ex local auth and purpose builts on the market)as people are holding on to them due to the East London Line extension. However, there is massive demand - when we were viewing there were several properties where there was a queue of people outside waiting to go in! Also it is becoming quite common around here for flats to fly of the market at £5-10k over the asking price. I would think that is SW London is very expensive already the prices may be more stable, although like i said, I dont have alot of experience of this area.
I'm hoping for the East London line extension to go ahead as well. I think it's due to include Penge West station which is about 300m from my flat. Does anyone know where the actual plans are for it on-line?
Originally posted by ovalyellow: I'm hoping for the East London line extension to go ahead as well. I think it's due to include Penge West station which is about 300m from my flat. Does anyone know where the actual plans are for it on-line?
I'd go as far as to say it's overheating seriously at present (outer boroughs anyhow).
I think you're looking stagnation short-term, possibly slippage medium-term, but long term I reckon it's still pretty sure to recover (especially if you stick to the rules that have proved very profitable for me - always period, and never more than 5 mins from Tube - or if you insist on South, BR).
------------------------------ 35% constitutes neither a majority nor a mandate
Originally posted by Helen77: As a rough guide Central London is usually thought of as anything in Zone 1, or pretty much anything inside the Circle Line
Er, certainly wouldn't agree with that - especially when referring to property. How would you describe Bethnal Green, Camden Town, Ladbroke Grove or Fulham then? Hardly suburban.
------------------------------ 35% constitutes neither a majority nor a mandate
Originally posted by Helen77: As a rough guide Central London is usually thought of as anything in Zone 1, or pretty much anything inside the Circle Line
Er, certainly wouldn't agree with that - especially when referring to property. How would you describe Bethnal Green, Camden Town, Ladbroke Grove or Fulham then? Hardly suburban.
Prices are certainly going up in the part of south London that I live in, that swathe of the "central south" area - the bit that should have just an "S" post code but doesn't! It's the "ripple" effect as people seek the next best "value" areas.
As well as Anerley, it's imapcting most of the parts between Balham and Croydon - Streatham, Norbury, Thornton Heath, Crystal Palace, Norwood etc.
It's also reported that the London SW postcodes are amongst the most bouyant at the moment.
I regard Central London as Zone 1, Inner London as the inner ring of local authorities and Outer London as the outer ring.
Originally posted by Helen77: I would think that is SW London is very expensive already the prices may be more stable, although like i said, I dont have alot of experience of this area.
Not all of it, SW16 certainly ain't, relatively any way . Three beds round here for £270k (or often much less).
Originally posted by Helen77: As a rough guide Central London is usually thought of as anything in Zone 1, or pretty much anything inside the Circle Line
Er, certainly wouldn't agree with that - especially when referring to property. How would you describe Bethnal Green, Camden Town, Ladbroke Grove or Fulham then? Hardly suburban.
Like I said, just a rough guide. I have lived here for years and to me that is how I would define 'Central' London. I agree that the places you mention are not suburban - I would too say that they are in inner London (or to be precise, East, North and South West London respectively)but to me they wouldn't be classed as 'Central'. I expect all Londoners views on this are different though!
. Three beds round here for £270k (or often much less).
