Wapping property market - nothing has sold since Jan....any insight?

[Poppledopple]

I have a fantasy of retiring to a riverside flat in Wapping - and have been keeping an eye on property for a while. Just seen on Rightmove that nothing has sold since Jan this year - and given the last listings would have agreed a price and exchanged in 2015 - it seems like a real collapse? This is well before Brexit ... wondering if this reflects foreign buyers/investors drying up in this area a long time ago -- it is not a family area.... anyone with an insight?

Do you think that they might all (foreign buyers/investors) flood the market so us locals can get a cheap flat??!!

Are you looking in too narrow/ low a price bracket? Seems impossible that nothing has sold all year...

Are you looking at rightmove sold house prices? I don't think that is working right as a house near to ours sold in Jan and still isn't showing on their, but I know it sold!

It takes a while for sold info to filter through. There is no way that nothing has sold there in all that time!

Yes it is Rightmove - you don't select a price band for sold house prices - must be a lag thing - as some of the properties I was looking at are not for sale now but also not up as sold......

When you search, are you ticking the box for "include under offer and sold stc" box?

There have been 12 houses sold in my road alone that I know off recently but nothing shows on Rightmove since March.

Seems there is a longer than normal lag in them displaying the sold info.

just checked RM again - I had selected Wapping High St (river frontage) and nothing sold since Jan - maybe cash buyers dont show? - Wapping more generally has had sales up to March. Cant see any of the new build development sales listed as sold tho? Is RM same listings as LR?

I'd be surprised if nothing has sold since last year in Wapping - there was a surge to beat the April stamp duty hike for investors and almost anything was snapped up. Since then, in the run-up to the referendum and post-ref, the market has been dead. Wapping is a bit pricey and I think the prices in a lot of these chi-chi London neighbourhoods which ask a lot but (imo) don't have that much to offer in return - yes, it's close to the river and the City, but it's cut off by dreadful trunk road, poor public transport, has rubbish shopping and some very uninspiring flats and LA housing in between the characterful bits - have made buyers think again.

lala - that's why we love it -- bit like a cul de sac...ie cut off so no thru traffic....therefore much less noise and pollution....we don't do shopping as such (only food) more interested in access to the arts (on foot or bike is the plan) - the two traditional waterside pubs are more than enough for us.....we don't want buzzy right on our doorstep...sad old farts that we are!

Have you tried zoopla or the land registry website - to see if they have more up to date sales? Also, (as I learned from an mn pp!) not all sales prices are published - there are various exceptions listed on the land registry website.

Wapping is fab! For the exact reasons already mentioned. Only thing lacking is schools or I'd be back in a heartbeat.

BikerMouse - we wont need schools as first DS off to Uni in Sept and next 3 follow on each year after that. We will still be working but commuting out of central London to our business in Surrey. If you have any property or lifestyle tips on Wapping please let me know. I am set on river frontage, with balcony/terrace as otherwise I dont see the point.....but I might be wrong. Is there a "community" there?

Land Registry and therefore Rightmove Sold prices was way out of date. Now showing up to April /May when I looked today.

Could be worth trying zoopla sold prices as well - they seem to be showing some June sold prices as well (presumably also from Land Reg?). Op, I have no insight into Wapping sales, but interested to know how you plan the commute into Surrey - does it mean going to Waterloo? Have you thought of renting your Surrey house out and renting in Wapping before deciding finally - I get the impression there are quite a lot of private rentals in Wapping?

I spoke to right move last week on Twitter - they are changing the way they update their data from land registry so haven't updated for ages. But as soon as they change their system they are going to update again.

Zooplankton is more up to date, but their system is not as easy to use.

Haha obviously Zoopla,no idea what zooplankton is!

That's interesting Rebecca - RM have updated a bit very recently but maybe there is more to go. And there is always the Land Reg itself! Though as below, not all properties are listed anyway - there are some exempted categories.

Ireallydont - Yes plan to commute out of Waterloo and yes we will definitely rent for 6-12 months to make sure it is really is the lifestyle we want - which is very different to how we currently live - walking dogs over the hills! Only worry is lack of green space in the immediate area - but I am hoping that the wide open riverside walks will compensate.

Will look at zoopla

Sorry popple only just returned to this thread. Tbh we haven't lived there for 4 years so not entirely sure any tips will still be relevant.

There is a community feel to it. But it's very east end, pie and mash iykwim. It's a funny area everything river fronted is incredibly expensive, as I'm sure you're aware, full of city professionals. It's very quiet apart from the buses and taxis rattling along the cobbled streets. It is lacking in green space however there's a lovely park King Edwards something or other. You do have the river which more than makes up for it.

Il bordello is a classic old school Italian. Great food and massive portions! All the pubs along the river front are lovely especially in the summer. River view is also good.

There's been talk for some years about redeveloping Tobacco Dock into a restaurant, shopping hub but not sure if that will go ahead. On the western end of Wapping you have a waitrose and another new Berkeley development so in sure in time lots of new restaurants etc will open.

In terms of property, a lot of the old river warehouses are really lovely. Just beware of the service charges, which if ours is anything to go by, are quite expensive.

Excuse the typos!