Estate agent speak

Papa

<span style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal; font-size: 10pt; font-style: normal;">And in the latest game of </span><span style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal; font-size: 10pt; font-style: italic;">How much???<span style="font-size: 13.3333px;">!!!</span></span><div style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal; font-size: 10pt;"><span style="font-style: italic;"><span style="font-size: 13.3333px;"><br></span></span></div><div style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal;"><span style="font-size: 13.3333px;">The <a href="http://www.rightmove.co.uk/property-for-sale/property-57407675.html">£617,000 one-bedroom flat</a> that won't be built for a year-and-a-half, complete with picture of building site.</span></div><div style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal;"><span style="font-size: 13.3333px;"><br></span></div><div style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal;"><span style="font-size: 13.3333px;">But the real winner here is estate agent speak:</span></div><div style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal;"><span style="font-size: 13.3333px;"><br></span></div><div><span style="font-family: Arial, Verdana; font-variant: normal; font-weight: normal; line-height: normal; font-size: 13.3333px;">'</span><span style="font-family: Arial, Verdana; font-size: 13.3333px; line-height: normal;">Woodberry Grove is a great collection of 5 unique apartments, all with impressive terraces and spectacular views. Its dramatic scale transforms it into a striking beacon, a symbol that guides residents towards the welcoming concierge and residents lounge. Residents will have access to communal amenities, including a swimming pool and gym.</span></div><div><span style="font-family: Arial, Verdana; font-size: 13.3333px; line-height: normal;">'A 24 hour concierge connects residents to a wide range of services, while the residents lounge is an ideal spot to relax and get to know the neighbours. A residents garden forms a private oasis and a fresh layer of interest.</span></div><div><span style="font-family: Arial, Verdana; font-size: 13.3333px; line-height: normal;">'Within walking distance to both Manor House and Finsbury Park, Woodberry Grove development was a gem well hidden in the London scenario, until Berkeley Homes discovered it and now you can enjoy the luxury of a home in the heart of London reservoir.'</span></div>

Ali

<p>A house on the corner of Victoria  Rd and Albert Road went for £1,725,000 in November.</p><p>When  is the bubble going to bust ?</p>

NorthNineteen

Some weird language:<br><br>"<span style="font-family: Arial, Verdana; font-size: 13.3333px; line-height: normal;">you can enjoy the luxury of a home in the heart of London reservoir."<br><br>and<br><br>"</span>great connections with the city centre via Victoria and Picadilly lines, sustained by non stop buses serving all of London"<br><br>I'd love to find these non-stop buses serving all of London....<br>

duffer

The bubble has already burst - tipping point was sept 2014. It's taken some time for the mainstream press to cover it (just enough for over-leveraged hacks to get out methinks), but when the <a href="http://www.express.co.uk/finance/personalfinance/635232/Stock-market-crash-could-burst-property-bubble">Sunday Express</a> headline screams burst bubble then the fat lady has well and truly sang.<div><br></div><div>Note the increasing numbers of Sold StC properties reappearing on Rightmove as Available again.</div><div>Remember tho, those of you who bought some years ago, lower prices mean lower prices if you wish to move up the ladder; not a whit of difference if you plan to stay; and the likelihood that those of you with off-spring may after all be able to get rid of them in a few years time, when prices have fallen the projected 30 - 40% (according to UBS, back in Nov)</div>

fabruce

Duffer: interesting post, but it would be good to have a look at the sources. Do you have any links where those details are provided?<div><br></div><div>I think it's about time that prices stop growing and maybe start falling, but it is not so easy to predict as the models used could be proven wrong.</div><div><br></div><div>Anyway the property listed for sale for 617 is absurd and inflated. It doesn't take too long to realize what rip-off that could be</div>

Papa

Anecdotally, I would say that having watched the market round here, prices stalled and slipped a bit in late 2014 to early last year but have since picked up and are back to where they were and above.<div><br></div><div>There was a point until about late summer 2014 when each round of properties that went up for sale had a fresh £20k or more added - and were selling almost immediately. That then tailed off and you could see places at asking prices that were maybe £50k less on a £500k flat.</div><div><br></div><div>You also saw a lot of reduced labels on Rightmove.</div><div><br></div><div>Middle of 2015, it picked up again and asking prices rose again, although some aren't achieving the very optimistic asking prices and selling so quickly.</div><div><br></div><div>The big problem is the lack of volume of transactions, it means prices can easily be skewed upwards with buyers chasing less good properties for sale.</div><div><br></div><div>The sky-high cost of moving is a lot to blame for that.</div><div><br></div><div>I suspect quite a few Sold STC properties come back on when buyers find they can;t get a mortgage due to tougher affordability rules now.</div><div><br></div><div>Duffer, your point on lower prices mean lower prices when people move (often to a more expensive home) is one I often make to people too.</div><div><div><br></div><div><br></div></div>

miss annie

The estate agent on Fonthill Rd has closed down overnight. If you have had dealings with them I suggest you go and collect all your records, references, bank details etc. they are in cardboard boxes outside the office for everyone to see!

ADGS

Keeping up the ethics and professionalism associated with their trade to the last!