feeling depressed about SE London house prices

[SarfEasticated]

They just keep going up and up near me, last year 3 bed house needing work went for £310k, this year same house over the road went for £410k in one day. so as soon as anything comes on the market it is sold immediately. The bank suggested we should only really borrow up to £350k so we don't stand a chance of finding anything in our budget now near our daughter's school. I really don't want to move so far away we have to get a car to take her there and back. I want her to live near so we can have play dates after school etc.
Please advise, are the prices ever going to go down again, or do we need to try to buy now and just borrow a lot more than we could afford if the interest rates went up to 1980's rates.
HELP property gurus.

Well I am in the furthest SE postcode and the prices, although climbing up, are still very reasonable: 2 bed houses up to 250k, 3 bed houses up to 300k. It is on ELL and fast train line. I think ot is a hidden gem and still very cheap in London prices...
If you don't want to changed the area, try for an extendable 2 bed house... That's what we are planning to do.

Sarf - that 4 bedroomed house I linked to isn't half a mile from a mainline station like it says on the advert. It's (literally) 4 minutes walk from the station. And 5 minutes walk to the nearest (good) primary.

Minifingers, I totally agree with you. In fact we have formed a nice community around us and I wouldn't want to move anywhere else.

Isn't it like this all over? Our current place was supposedly a steppingstone to a house but sadly the twelve-year-old City-tosser-types found the local undeveloped mews houses and snapped them up - one we spotted that was almost in reach then (hence us saving up like crazy) was bought by russians and tarted up, only to go on the market 2 years later at over 4 times the sale value. Bugger me!

Now the mad prices flats opposite (new uber swankeeeee development) are going for one million for a one bedroomed flat. The cars all have dubai plates.

Oh well, what can you do? Since redundancy has struck again we are just happy to keep the roof over our heads atm.

Am considering a barge!

(Sorry have only read some of thread!)

DS has an ikea extendable bed, it can extend one side at a time so might give you more time. I got it as DS's room if he ever moves into it won't fit a single well either but will fit the extendable half down!

That 4 bed house was lovely Mini but possibly a little too expensive - other two you linked were better price but further out - I will definitely add South Norwood to my list. Thanks for going to so much effort for me.

I thought the way house prices have been going they might try these houses on for a bit more www.rightmove.co.uk/property-for-sale/property-39205003.html Probably not much outdoor space but a nice little park is literally 90 seconds walk away.

Can you buy a two bed and extend into the loft? You can add a large bedroom (or two) and an ensuite in most lofts with a dormer extension. Otherwise agree with other posters about looking in different areas. What about Catford or Beckenham? Beckenham and Clock House are very nice.

This is why we are leaving our beloved south east London for Hertfordshire. Very sad about it but we have finally accepted we can no longer afford it..sigh.

thanks for your posts nicely and prolific - I need to go and have a look at Beckenham and Clock House. I had a recce around Penge a few days ago and it looked very nice, just need some houses to come up!