Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

South East London market

32 replies

Poppinder · 24/04/2018 13:54

What's the market like in London.

We have a flat that we have just (11 days) put on the market. It seems to be priced well from looking at other properties.

We've had 7 viewings which I think is good?, but no one really interested yet.

Is this normal? We have lived in the north for 8 years so have no idea what the market is doing down there. Things seem to be moving well here

OP posts:
FridayThirteenth · 24/04/2018 14:19

Would be interested to hear from other sellers too. Or SE London flat went live yesterday evening and we have 1 viewing booked already.

Not sure what to expect as last time we sold we had an open day with about 20 viewers and sold within 2 weeks.

I know those days are over but not sure where to set my expectations...

Yoghurty · 24/04/2018 14:22

We've been on the market in SE London for 12 weeks now.
Dozens of viewings, and feedback has been pretty positive but no one has made an offer yet- not even a silly-low offer.
EA Branch manager told us today that the market has gone quiet all over, and that it's not just ours that hasn't sold, so yes, maybe this is normal at the moment?

Original poster
Poppinder · 24/04/2018 14:44

Our property currently has no tenant and a mortgage so we can't hang about for too long. EA told us to expect an offer in 2 - 4 weeks, but know it changes all the time.

Just want it sold so we can get on with life

OP posts:
dontcallmelen · 24/04/2018 15:53

Depends what part of south east London, where I am stuff is selling more slowly than last year & usually only once it’s been reduced.
Lot less coming onto the market, compared to last year as well.

Original poster
Poppinder · 24/04/2018 17:33

We are in crystal palace area

OP posts:
Spicylolly · 24/04/2018 17:39

A friend of mines house has been on since October (Bromley) and only a handful of viewings and it's been reduced, her other 2 tenanted properties sold in about 5 months they are both in north east Kent.

PleaseSell2018 · 24/04/2018 19:16

We are going on the market this week SW London close to CP.

As you can see from my NN I'm not thinking it's going to be a quick process. The market has definitely changed. There isn't much on and it's still not moving.

Original poster
Poppinder · 24/04/2018 20:50

Oh no! Doesn't sound promising.

You'd think with the price reductions buyers would be popping up!

OP posts:
mangocoveredlamb · 25/04/2018 11:32

I think the problem is, particularly in London, that people think there’s going to be a big drop in house prices. (Who knows if there will be) so people are only loving if they have to.

mangocoveredlamb · 25/04/2018 11:32

Moving obviously not loving Confused

FridayThirteenth · 25/04/2018 11:49

Oh god this thread isn't helping my worries!

We have had 1 viewing booked the morning after our house went live on Monday night, and nothing since.

Was expecting a little bit more interest initially but maybe everything is just dead as a dodo.

We are not too far from CP either. Some stuff does seem to be going under offer, though obviously not able to tell how far under asking they have accepted.

london1971 · 25/04/2018 12:20

We are in Sydenham so very near CP. been on the market around eight/nine weeks. Five viewings, no offers. I didn't think it'd be still on as when we've sold in the past it all happened very quickly. Things are different at the moment I guess. We've a three bed end of terrace , extension, all decorated. The house we wanted went yesterday so not sure what to do now.

PleaseSell2018 · 25/04/2018 12:23

Those on the market, are you priced competitively? We are going on slightly higher than I wanted to but feel 5% below is the right price.

FridayThirteenth · 25/04/2018 12:54

We went in slightly lower than the middle of our valuation range, but it's so hard to tell if we are competitive as not much on the market to compare it to, size wise and sq ft wise. We are definitely better value than some similar prices properties, but then they are not selling either.

I'm now second guessing thinking we should have gone lower. But if it's that quiet maybe it won't make any difference and we just need to wait.

I understand the uncertainty around Brexit, rates etc is putting people off. But it makes it hard to know what to do now.

Kamma89 · 25/04/2018 13:09

Coming from a FTB perspective I can confirm that price is the biggest point for us. We didn't look at anything priced at or above summer 2016 prices. We're very cautious though & are expecting prices to fall further. We still went ahead with purchase though as expecting first DC, so there is a market! We were shocked that a lot of the estate agents told us before 1st viewing that price was open to negotiation. This is annoying in my view. I know they over value to get the listing but it stopped us viewing until they'd dropped asking price many weeks later. Good luck all, horrible time to buy or sell in London I feel.

MrsPatmore · 25/04/2018 13:14

We've been on less than a week in SE London. Three viewings so far but no offers. I think ours will be difficult to sell as its a tiny two up two down terrace. I'm hoping there'll be interest as Crossrail is due to open in December. Everything seemed to be selling quickly a month or two ago.

PleaseSell2018 · 25/04/2018 14:02

Mrs we are 2 up 2 down also. Not tiny but obviously not a 3 bed which is probably most people's preference.

Original poster
Poppinder · 25/04/2018 16:27

we have a 2 bed flat so FTB territory. We were on last year, but for various reasons we came off - we are on for lower than we were last year.

We've had 8 viewings in 2 weeks and 1 second view due to take place (Just found out today they want a 2nd view)

OP posts:
FridayThirteenth · 25/04/2018 16:45

Just heard from the agent who has booked 5 more viewings over the next few days and apparently more to book in.

Trying not to get my hopes up too much...

MrsPatmore · 25/04/2018 19:19

Sounds really promising poppinder and Friday. Good luck!

LadyLapsang · 25/04/2018 21:51

I would say a lot of property initially goes on at too high a price, hangs around and then gets reduced but still doesn't sell as it is not fresh to the market. Two of my neighbours are selling the same type of house, one put hers on for such a high price all the neighbours were laughing, she has now reduced it by nearly 100K but it is still on the market. Other neighbour put theirs on the market for less than the reduced price of the first property and it sold within a week.

PleaseSell2018 · 27/04/2018 17:58

We've accepted an offer slightly below asking price Shock

FridayThirteenth · 27/04/2018 18:19

Wow Pleasesell that’s so quick! When did you go live?

PleaseSell2018 · 27/04/2018 18:23

We haven't yet, photos were done yesterday.

FridayThirteenth · 27/04/2018 19:08

Wow good on your estate agent, fingers crossed it all proceeds smoothly!

Swipe left for the next trending thread