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London is suddenly full of flats for sale

(17 Posts)
kensingtonkat Fri 10-Aug-12 15:43:15

Spent the afternoon idling on Rightmove.

Lots of price cuts and lots of new stock, but all flats rather than houses.

Is this LLs selling in adavance of HB cuts or something else? I'd have expected new stock in September or the spring, but not now, in the middle of the Olympics and holidays. I'm also surprised by price cuts (I have Property Bee) given all the London Rah Rah Rah stuff in the papers.

Anyone got the inside track on this? I ask the question because I want to sell my flat (currently rented out whilst we rent ourselves), but am worried I've missed the boat.

likeatonneofbricks Fri 10-Aug-12 20:03:54

which areas are we talking about? and where is your flat (or pm?) as I know people who wouldn't mind buying a place with tenants.

MousyMouse Fri 10-Aug-12 20:44:36

in the east (canary wharf and greenwich) big developments are about to be finished. which means thousands of new homes for a relatively small area. that certainly takes the pressure off a bit. just a shame that it's mostly small 2 beds, not many family homes of 3 and more beds.

MousyMouse Fri 10-Aug-12 20:48:23

oh, and many landlords were hoping to rake in some money let through the olympics and sell right after. just a couple of months ago not many places on the market at all.

LittlePickleHead Fri 10-Aug-12 21:32:39

I hope this is not true. It feels like we are doomed in our attempt to move at the moment...

Our local estate agent did say (and I know to take it with a pinch of salt) that they have had a recent glut of new buyers and not many properties, so perhaps it is not a bad thing that there are a lot of properties? Apparently some lenders are being more lenient to first time buyers again, so that has to be good for flats on the market <keeps fingers firmly crossed>

Rhubarbgarden Sat 11-Aug-12 11:03:30

It's a house rather than a flat, but we just sold to the first viewer through the door, so it certainly seems to be an ok time to sell round here (SE London).

kensingtonkat Sat 11-Aug-12 14:02:54

I think there IS a big demand for houses over flats, Rhubarb.

The only houses in my price bracket are do-er uppers that are priced as if they were done up, IYSWIM. They've been on the market since the spring, no price cuts.

Occasionally one goes under offer, only to reappear on the market several months later when the chain falls through or the mortgage fails to materialise at such an inflated price.

Meanwhile flats seem to be declining in price due to oversupply, dashing my chances of ever upgrading to a house of my own.

kensingtonkat Sat 11-Aug-12 14:10:45

Sorry Rhubarb, should have added that houses in clean and habitable (though not necessarily modernised or refurbished) condition are flying. One went under offer a few weeks ago at 15% more than an identical house in the same street sold for back in March. I nearly cried blush

kensingtonkat Sat 11-Aug-12 14:14:04

Bricks Baron's Court. We're renting in Olympia, and looking to buy in Brook Green, Brackenbury, or possibly Chiswick. DH also wants to look at Acton or Ealing so I should do some more research really.

likeatonneofbricks Sat 11-Aug-12 17:49:12

hi ken-kat, I know these areas well, but if it's a nice one in Baron's Crt then probably too expensive, unless it's a council/one of hte noisy roads? pm if you like as to the rough price. How many beds also. My friend just sold in Baron's (a flat, B. court rd, it went instantly! but don't know for how much, not a close friend, didm't wantto pry, but she was pleased).
You can still buy in pars of Hammersmith more or less cheaply, or Stamford Brook but yes no doubt a doer-upper. Acton is quite rough tbh even though very good transport if anywhere near Acton Town (but the High st is dire!). Ealing is nice but I think it's gone up in price recently as there is a quick Paddington link etc - you can still find something in West Ealing on a lowr budget, or anywhere in ealing that's not near a tube. Or again by a motorway (but who wants that).

Rhubarbgarden Sat 11-Aug-12 21:04:23

Sorry op was trying to offer encouragement, not depress you sad. if it's any consolation it took a year to persuade the owners of the house we wanted to buy to accept our offer, as they were determined to get asking price, which was beyond us.

jezzthomaz Fri 22-Feb-13 12:28:29

Message deleted by Mumsnet for breaking our Talk Guidelines. Replies may also be deleted.

noisytoys Fri 22-Feb-13 13:04:18

Flats round here (south east) are being snapped up as buy to let's because a lot of people are being forced to downsize and here living rooms count as bedrooms so lots of families live in flats

humboldt Fri 22-Feb-13 17:50:21

You must be looking with a big budget.

Have been looking for first time buyer budget top floor 2 bedders with parking all over south east London for the past 6 months - no new flats at all - just the same ones that were there last October/November.

Bring it on - would love to see some new listings - but haven't yet.

montage Fri 22-Feb-13 18:12:38

This thread is 6 months old so the situation has probably changed now.

(I was initially confused by how the OP could think we are still in the middle of the Olympics - that closing ceremony coverage was hard to miss!)

SarkyPants Fri 22-Feb-13 18:15:17

I am cynical enough to think the thread was resuscitated as an attempt to plug an estate agent...

JakeBullet Fri 22-Feb-13 18:19:04

Hell yes.....very odd resurrection comment too.

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