House prices

Mirandola

The cheapest flat (excluding a reposession that'll go for more) within 1 mile of Finsbury Park Station on rightmove is a studio on Burgoyne Road at £160k. It's sold STC.

mountpelephant

not sure if that's good or bad....<div><br></div><div>but to throw a spanner in the works I bought my house in January and in October a house on my road went for sale for £200k more than I paid...and sold!....house round the corner has just hit the million pound mark. not sure how long this will last though.....unless SG is becoming really that desirable to live....?</div>

conformable_kate

It has to be bad. SG is a great place to live, but you shouldn't have to be able to access a loan of millions to live here. And once only those who can get huge mortgages are living here, it won't be a great place to live any more. <div><br></div><div>I bought in this area in 1996; my house is now worth five times what I paid for it; and nobody starting out in my profession could conceivably buy here now. And the "equity" in the house is useless, since I can only get at it by selling and buying somewhere else that I would like less or that would cost more. I do worry about London. </div>

ChangN4N6

Some roads like Lorne Road actually have gone down in value, substantially. A one bed flat was on for 93k. Nothing wrong with most of the houses or flats (see zooplankton) but the environmental issues depress rents etc. which can be good for those line me on sporadic vet type incomes depending on cold weather etc. If you can put up with the summer issues Some streets eg Zthorpdale are rocketing cos of closeness to station, Tufo, Vitor etc, and total absence of crime. It's a mixed story. i agree some houses round here are silly prices. Chang

Ali

Chang  show us the link for the £93k house !

vetski

There's a 2B flat on Lorne Road currently, asking price £500,000. I cannot believe there's been a 1B flat on the market there for £93K in the last 10 years!

Mirandola

It's for sale in Chang's alternative universe.

andy

<font face="Arial, Verdana" size="2">Sold prices in Lorne Road over the last ten years: </font><div><font face="Arial, Verdana" size="2">http://www.zoopla.co.uk/house-prices/london/lorne-road-n4/?q=lorne road, n4&amp;results_sort=newest_listings&amp;search_source=home&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;font face="Arial, Verdana" size="2"><br></font></div><div><font face="Arial, Verdana" size="2">A flat once went for £73,000 in 2001, and Zoopla reckons that's now worth "just" £150k.</font></div>

NorthNineteen

We do seem to be in silly season at the moment with house prices with sealed bids becoming the norm by the sounds of it. I have friends looking for a 2bed flat with garden in Stroud Green (and surrounding area) and theyve upped there budget to £450,000, the last 5 flats theyve seen have been sealed bids and in each case they have gone for at least £30,000 over asking price!<br><br>It's not surprising as a lot of people I know are now looking to buy as over the last couple of years they have saved enough for a deposit and increased job security means people want to shift from renting to buying.  Plus there's now the whole "not wanting to be left behind" as property increases.<br>

graeme

It's not so much the 'not wanting to be left behind' as 'not wanting to get further fucked blind by the BoE and Treasury for the foreseeable future' now the game has been further rigged.<br><br>With Help to Buy, the govt can get a tasty chunk of future price inflation. Take a 20% HtB Equity loan, say that's £50k this year.  When you sell in 5 years, the govt might get £150k back if they can keep pumping.<br>Add to that the stamp duty income being at a record high and there is no reason for anyone who can reign it in to do so. <br><br>Soon HtB will not be enough for a flat, since it's limited at £600k.  And they'll change the rules again.<br><br><br><br><br><br><br><br><br>

mountpelephant

Kate I agree. As I have only just moved in this year and have no desire to move, I couldn't stay in this area as the next move up is so incredibly expensive and the market isn't slowing down. I do wonder what the area will be like in a few years time. (I also just walked past the concept which looks great but im assuming expensive! are we heading in a different direction in SG)....?<div><br></div><div>Northnineteen.. I had been looking in crouch end last year and every flat that I liked went to sealed bids. They all sold with £20-£40k over asking and most were cash buyers!!! Having been unsuccessful in the bids it was very frustrating that the agents were then putting other new properties on the market with an increase of £40k as they knew they would get sealed bids. We are talking weeks later with such an increase. If I had not purchased my place in January there is no way I would of been able to buy my neighbors house which sold for £200k more than I had paid. Its a real struggle chasing the market...I almost gave up!</div><div><br></div><div>I agree with all points and I wonder how people are going to a) get on the ladder and b) move up the ladder and want to stay in the area they desire.....  </div><div><br></div><div>It could be worse (again not sure if good or bad) a client of mine in Primrose Hill sold her house for £20 million, which she purchased for £6 million!.... Maybe this is why more and more people are buying in SG...London's gone crazy.</div>

Ali

I think a lot of peopple are actually moving to the ladders as it is cheaper

kittygal

Everyone I work with looking to buy are looking south of the river, previously unfashionable areas like Catford, Lewisham etc. Seems lots better value.

miss annie

Dear god. I've lived in London all my life and wouldn't be able to find those places on a map! Someone said they were considering Peckham the other day, enough to give one a fit of the vapours.

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JoeV

Plumstead. You heard it here first. 2-bed houses for under £200K

dion

I grew up in lewisham and have just sold a flat in catford. No point in living if you move there

vetski

I was chatting to an agent in CE earlier today (no, I'm not moving, I was there for work) - he reckons next year will be even crazier in terms of house prices than this year's been. I described my house to him, and nearly fainted when he told me the price range if we sold it - it's just a bog-standard terrace!

miss annie

Yours is a big terraced house! And near the Park. One and a half or two?

ChangN4N6

Catford is the new Shoreditch. Chang

dion

Catford is definitely not the new shoreditch Chang - you normally talk the most sense of anyone on this forum but sadly here you are, probably for the first time, wrong.

Papa

@MissAnnie <br><br>Peckham's called East Dulwich now<br>

Mirandola

I know people priced out of Peckham. People with above average earnings priced out of Peckham.

vetski

@missannie, one and a half or two what?

NorthNineteen

Peckahm has gone crazy.  I've got a couple of friends currently renting out properties.  One a dingy one-bed flat in Peckham (with an admittedly big garden) and the other a beautiful newly refurbished terrace victoria house in Brockley. The Peckham flat is being rented out for more.<br><br>If I hadn't bought in SG (and didn't need to be in North London) I would definitely have bought in Peckham. There's a lot of similarities between Finsbury Park and Peckham actually.<br>

Arkady

<a href="http://www.stroudgreen.org/discussions">T</a>here are some beautiful Victorian back-streets in Peckham, with excellent pubs.  And the centre is quickly becoming dominated by hipsters, something that has accelerated since the Overground route opened.

andy

Brockley. I mean I ask you.

vetski

@andy, you can ask all you like. I'm still not going there.

NorthNineteen

Good to see the N/S divide is still going strong.  I think Brockley is all right, in fact I quite like much of South London.  What are you asking about Brockley?<br>

dion

Brockley was once beyond the pale. Alas no longer. Apparently it has a Vietnamese restaurant called mo pho which is drole

andy

Brockley. It's where the young people are renting, now. I hear about it at work.<div><br></div><div>It's the London equivalent of Snapchat or Justin Bieber. Baffling to most of the population, but the kids love it.</div>