Property prices - what’s happening and predictions?

[Pale Rider]

Many of the 'vast areas of open ground laid to waste' will have been bomb sites.

The Luftwaffe was very good at slum clearance.

Arthur's car sales pitch was based on the bomb site traders who operated after the war.

A handful were still there when I was in London in the 80s.

 

[cyberknight]

neighbour bought at 108 and sold at 130 in just 6 months , houses in this end of the market aka 3 bed semi/ terrace are in short supply and we are thinking of moving as we have never been happy here

 

[PK99]

Watching a bit of daytime TV, and it's interesting to compare the London of just a generation ago - as the backdrop featured in The Sweeney, Minder, etc - with now in property terms. Huge swathes of what is now prime real estate laid derelict, or at best looking decidedly run down and uncared for, with seemingly vast areas of open ground laid to waste.

How things change.

So true.

Greater London Population peaked in 1939 at circa 8.5 million and fell until the mid 90's with a low of about & million.
In the last few years, it has reached and exceeded the previous maximum.

 

[slowmotion]

There's tumbleweed blowing around inside most London estate agents' offices. There's not much housing on offer. What little is sold is rumoured to be going for at least the asking price due to the drought.

BTW, this is all hearsay, like all property scuttlebutt.

 

[PK99]

There's tumbleweed blowing around inside most London estate agents' offices. There's not much housing on offer. What little is sold is rumoured to be going for at least the asking price due to the drought.

BTW, this is all hearsay, like all property scuttlebutt.

I've been tracking sales and prices in Balham/SW17 for a while with a Right Move search telling me each week of new flats on the market. I haven't noticed and reduction in numbers but a definite softening of prices. Psychological ceilings (round numbers, 300k, 400k, 500k) have been sticking for longer than might have been expected.

 

[Beebo]

Watching a bit of daytime TV, and it's interesting to compare the London of just a generation ago - as the backdrop featured in The Sweeney, Minder, etc - with now in property terms. Huge swathes of what is now prime real estate laid derelict, or at best looking decidedly run down and uncared for, with seemingly vast areas of open ground laid to waste.

How things change.

Notting hill was a dumping ground for immigrants in the 60s, no one wanted to live in big old damp property, which is why the carnival runs through it. You could pick up a 4 storey terrace for almost nothing as the population moved to modern estates.
it would be worth at least £5million now. And the modern estate would be in line for demolition.

 

[Beebo]

I've been tracking sales and prices in Balham/SW17 for a while with a Right Move search telling me each week of new flats on the market. I haven't noticed and reduction in numbers but a definite softening of prices. Psychological ceilings (round numbers, 300k, 400k, 500k) have been sticking for longer than might have been expected.

Its funny how the psychological ceilings affect the market. We have lots of similar 3 bed semis around us. I remember prices sticking at the £250k stamp duty level for ages, once the threshold broke the prices raced away, now they are doing the same at £500k.

 

[Blue Hills]

Notting hill was a dumping ground for immigrants in the 60s, no one wanted to live in big old damp property, which is why the carnival runs through it. You could pick up a 4 storey terrace for almost nothing as the population moved to modern estates.
it would be worth at least £5million now. And the modern estate would be in line for demolition.

yep, showing my age, I remember when there were derelict buildings facing the river on the south side. And when any walk much beyond London bridge on the south side took you into a land of corrugated iron and general browness. A while ago I did taking a detour on the bike wander in to a small bit that seemed like a carryover from sweeney land - but doubtless "improved" by now.

 

[swee'pea99]

Notting hill was a dumping ground for immigrants in the 60s, no one wanted to live in big old damp property, which is why the carnival runs through it. You could pick up a 4 storey terrace for almost nothing as the population moved to modern estates.
it would be worth at least £5million now. And the modern estate would be in line for demolition.

I recently watched an old Alec Guinness movie called The Horse's Mouth, made in 1958, with Guinness playing a shambolic artist living on a ramshackle leaking houseboat, one of a number moored up and inhabited by other itinerants barely surviving just above the breadline, clearly located just below Chelsea Harbour. Doubt you could moor a rowing boat there now for much shy of a million or three.