Just wondered what your experience had been. We have been trying to upsize for a while but, having bought our 2 bed garden flat at the peak of the market in 2007, its been a struggle to break the £250k stamp duty barrier and have enough money to make the move. We tried to sell in September and despite being valued by 4 estate agents as being able to achieve £270k + we only got offers at £250k (completely understandable) so came off the market with the aim of saving like crazy to make up the shortfall.
The property market in our area seems to have gone a little crazy in the last couple of months (high demand and low stock) and as we had seen a few sold signs on our street we had an agent round to value yesterday, and were really shocked when he said we should market at £320k to achieve £300k! This just seems a bit mental to me that it could have increased in value so much so quickly, however a quick Rightmove search does show many comparable flats marketed at a similar price that are under offer or sold.
We are just about to have a new baby so its really not the ideal time to sell, and I don't know fully whether to trust this valuation and go through all the stress of viewings etc just to be disappointed. However the agent did say that if more flats do come on the market then this could mean prices dropping slightly, so was quite persuasive about the need to sell soon if we want to achieve more (which given the price of houses in the area we will need to do to have a chance of upsizing).
Has anyone got any experience of the market in this area the last few months and does this valuation seem reasonable? It's way beyond what we were expecting!
Please or to access all these features
Please
or
to access all these features
Join our Property forum for renovation, DIY, and house selling advice.
Property/DIY
Anyone recently sold/selling a flat in SE London?
17 replies
LittlePickleHead · 21/04/2013 10:54
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.