Discussion
My daughter is looking for a flat in London.
It seems that many agents give a guide price say £250 to £275K and organise a day for viewing when anyone that's interested goes round and makes an offer.
I'd like to know what are the best tactics to use in this situation as property prices are still inflated at present and "value" is difficult to judge.
It seems that many agents give a guide price say £250 to £275K and organise a day for viewing when anyone that's interested goes round and makes an offer.
I'd like to know what are the best tactics to use in this situation as property prices are still inflated at present and "value" is difficult to judge.
avinalarf said:
My daughter is looking for a flat in London.
It seems that many agents give a guide price say £250 to £275K and organise a day for viewing when anyone that's interested goes round and makes an offer.
I'd like to know what are the best tactics to use in this situation as property prices are still inflated at present and "value" is difficult to judge.
its not that bad anymore, stopped like that a few months ago. It seems that many agents give a guide price say £250 to £275K and organise a day for viewing when anyone that's interested goes round and makes an offer.
I'd like to know what are the best tactics to use in this situation as property prices are still inflated at present and "value" is difficult to judge.
that said good f
king luck getting anything nice for £250k z4RRSchris99 said:
its not that bad anymore, stopped like that a few months ago.
that said good fking luck getting anything nice for £250k
I bleed'in know that .that said good f
king luck getting anything nice for £250k Still going on around Walthamstow,Chris.
Saw a flat in Leyton flat last week £250K+ that was s
te.I see you're in the business,got anything for me,there'll be a drink in it for you.
avinalarf said:
I bleed'in know that .
Still going on around Walthamstow,Chris.
Saw a flat in Leyton flat last week £250K+ that was ste.
I see you're in the business,got anything for me,there'll be a drink in it for you.
Got a few nice one beds from £1.1m ? Still going on around Walthamstow,Chris.
Saw a flat in Leyton flat last week £250K+ that was s
te.I see you're in the business,got anything for me,there'll be a drink in it for you.
I would jsut bide your time, the agents want to whip you up into a bidding frenzy, take your time, act rationally etc.
Pocket living do good cheap starter flats, i would try and get one of them if i was in the £250k market.
http://www.pocketliving.com/
z4RRSchris99 said:
Got a few nice one beds from £1.1m ?
I would jsut bide your time, the agents want to whip you up into a bidding frenzy, take your time, act rationally etc.
Pocket living do good cheap starter flats, i would try and get one of them if i was in the £250k market.
http://www.pocketliving.com/
London, £250k and called Pocket Living - my first thoughts were that you'll actually live in someone's pocket for the bargain price of £250k!I would jsut bide your time, the agents want to whip you up into a bidding frenzy, take your time, act rationally etc.
Pocket living do good cheap starter flats, i would try and get one of them if i was in the £250k market.
http://www.pocketliving.com/
Its nuts in London. We have a flat near Heathrow and pre recession it maxed at £190k. I thought about selling it and then it dropped £20k. Its now £230k! We rent it out and when I needed new tenants and advertised it recently my phone nearly went into meltdown with calls. i wish I had more but that time has passed now and its too costly to buy another for me.
A
z4RRSchris99 said:
Got a few nice one beds from £1.1m ?
I would jsut bide your time, the agents want to whip you up into a bidding frenzy, take your time, act rationally etc.
Pocket living do good cheap starter flats, i would try and get one of them if i was in the £250k market.
http://www.pocketliving.com/
Thanks for the advise.I would jsut bide your time, the agents want to whip you up into a bidding frenzy, take your time, act rationally etc.
Pocket living do good cheap starter flats, i would try and get one of them if i was in the £250k market.
http://www.pocketliving.com/
I am fully aware of the London housing market.
Inflation circa 10% /15% p.a.
Then you have the fecking stamp duty.
One beds £250/£275 two beds £260/£300 in ex council or houses.
Situation has been exasperated by near zero returns on bank deposits so everybody piles into BTLets.
That and shortage of stock pushed up prices.
Same goes for stock market I think,share prices inflated by people looking for a decent return.
Most people were content to get a safe return of 4/5% on deposits but that's all changed.
Inflation circa 10% /15% p.a.
Then you have the fecking stamp duty.
One beds £250/£275 two beds £260/£300 in ex council or houses.
Situation has been exasperated by near zero returns on bank deposits so everybody piles into BTLets.
That and shortage of stock pushed up prices.
Same goes for stock market I think,share prices inflated by people looking for a decent return.
Most people were content to get a safe return of 4/5% on deposits but that's all changed.
Edited by avinalarf on Thursday 27th November 17:04
My limited experience of this with flats in London is that if you leave making your offer until the last minute and have a bit of banter with the estate agents both during the viewing and on the phone you can find out where you need to be to be in the running. Whilst they may say there is a cut off time for offers to be received if you better all of the other offers on the table by a little bit then they're very likely to take it.
Having said that this was during the late spring and summer. I think the market has cooled off a little bit so you're likely to be in a stronger position than you would have been 4-6 months ago. I think if you buy something sensible you should be fine if London prices do drop a bit. Buying fancy new builds is asking for trouble at the moment though in my opinion, in the short to medium term at least.
Having said that this was during the late spring and summer. I think the market has cooled off a little bit so you're likely to be in a stronger position than you would have been 4-6 months ago. I think if you buy something sensible you should be fine if London prices do drop a bit. Buying fancy new builds is asking for trouble at the moment though in my opinion, in the short to medium term at least.
LdnShtr said:
My limited experience of this with flats in London is that if you leave making your offer until the last minute and have a bit of banter with the estate agents both during the viewing and on the phone you can find out where you need to be to be in the running. Whilst they may say there is a cut off time for offers to be received if you better all of the other offers on the table by a little bit then they're very likely to take it.
Having said that this was during the late spring and summer. I think the market has cooled off a little bit so you're likely to be in a stronger position than you would have been 4-6 months ago. I think if you buy something sensible you should be fine if London prices do drop a bit. Buying fancy new builds is asking for trouble at the moment though in my opinion, in the short to medium term at least.
Not looking at new builds,those few that I've seen in the past at the desired price range are very small.Having said that this was during the late spring and summer. I think the market has cooled off a little bit so you're likely to be in a stronger position than you would have been 4-6 months ago. I think if you buy something sensible you should be fine if London prices do drop a bit. Buying fancy new builds is asking for trouble at the moment though in my opinion, in the short to medium term at least.
I realise that my request for advise was naive but it's worth a punt.
As regards "cooling off",I would tend to agree but the London market appears to defy gravity.
No doubt things might stabilise when interest/mortgage rates rise.
avinalarf said:
Not looking at new builds,those few that I've seen in the past at the desired price range are very small.
I realise that my request for advise was naive but it's worth a punt.
As regards "cooling off",I would tend to agree but the London market appears to defy gravity.
No doubt things might stabilise when interest/mortgage rates rise.
I'm not too sure how long London's rise will continue but from my point of view it was still worth buying. I was paying rent as well so I thought that even if it does drop a bit it would have to fall a lot to not have been worth buying, particularly given I have rented the 2nd bedroom out. Waiting a year may have made the difference between still being able to afford a 2 bedroom over having to have a 1 bedroom place so I saw more risk in not buying. Time will tell whether I made the right move!I realise that my request for advise was naive but it's worth a punt.
As regards "cooling off",I would tend to agree but the London market appears to defy gravity.
No doubt things might stabilise when interest/mortgage rates rise.
LdnShtr said:
I'm not too sure how long London's rise will continue but from my point of view it was still worth buying. I was paying rent as well so I thought that even if it does drop a bit it would have to fall a lot to not have been worth buying, particularly given I have rented the 2nd bedroom out. Waiting a year may have made the difference between still being able to afford a 2 bedroom over having to have a 1 bedroom place so I saw more risk in not buying. Time will tell whether I made the right move!
Pretty sure you have made the correct choice in the long term.That's what my daughter plans to do ,let out the 2nd bedroom.
Where did you buy ?
Mine is in Kennington. I really like the area and the transport links around here are excellent. Both branches of the Northern line, the Victoria line, the Bakerloo line and mainline trains are all a walkable distance away, some closer than others depending on exactly where you are obviously.
It is true that price inflation within the M25 has flattened off recently
A sensible agent (if there is such a thing...) will look at whether buyers are genuine and have the resources. There are areas of London with flats in the £250k bracket but good ones go quickly. Some of the south east corners around Woolwich and Kidbrooke might be possible. I would advise against taking a studio flat as they bomb in a difficult market but get to know the agents and ensure you have as much of the preparation work on finance etc done so that when a property does come along you can move quickly and confidently.
A sensible agent (if there is such a thing...) will look at whether buyers are genuine and have the resources. There are areas of London with flats in the £250k bracket but good ones go quickly. Some of the south east corners around Woolwich and Kidbrooke might be possible. I would advise against taking a studio flat as they bomb in a difficult market but get to know the agents and ensure you have as much of the preparation work on finance etc done so that when a property does come along you can move quickly and confidently.
Gassing Station | Business | Top of Page | What's New | My Stuff