North London property market

[byzantinebee]

I live in north London and am about to list a 3-bed flat for sale. I'll be looking to buy a 4-bed house.

Anyone else in a similar position - in London - care to discuss how they're finding the market? Welcome stories for both flats and houses. Apparently properties (houses) are flying off the shelves at asking or above.

The market is very busy. I sold mine mid 2020 within days of it hitting the market.

I found that people are not taking offers seriously unless the buyer is ready to proceed so you may need to get an offer on yours before you've found a place.

Flats are selling much slower than before. I know of two people who have re-listed their houses because their buyers couldn't sell their flats. There are 3 main reasons: lockdown, over-supply and fire safety certs (or delays in getting same).

Flats in premium spots like Hampstead will always sell.

I just bought a 3 bed flat in Crouch End selling a 4 bedroom house. It really depends if you have outside space. Flats with gardens are holding up but flats without are not as easy to sell and are losing value.

Do we think prices will come down once the stamp duty holiday comes to an end?

We're in this position, we have a 2-bed house and are looking to move to a 4-bed somewhere on the northern line.

We're finding the market as buyers quiet, not many houses coming up, and as a consequence we've delayed putting our own house on the market for fear of finding a buyer quickly and being unable to move (really don't want the hassle of moving twice as we have a toddler and are TTC). I don't know about flats though.

I think the stamp duty holiday has led to things going quiet as it feels like everyone serious about moving has already done so to beat the deadline. I'm a bit sceptical prices will drop as they've plateaued anyway in London already.

I spoke to an estate agent who had a young family herself, and her view was that family homes are overvalued at the moment as supply is low, and she wouldn't personally buy this year. I agree there isn't a lot coming up. I'm also reluctant to sell if we don't find something ourselves - the thought of renting and moving twice is just 😰😰

I had a an offer accepted at the beginning of Jan but my vendor pulled out so now I am looking again. It feels more frantic now than it did a few months ago, a couple of the places I viewed were only on the market a couple of days. I will be making an offer on a place tomorrow - there were several other viewers over the weekend so lets see how it goes.