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Any truth in the rumour that 'house prices in the South East/Outer London are going a bit mad?

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I've heard a few comments including from friends who've heard from UK estate agents (can we believe them?) that 'house prices in the South East/Outer London are experiencing such strong demand often the asking prices are exceeded by some level' fuelled by Londoners being priced out of London - Your views on this, articles, links etc. or guestimates on when it might peak/best anticipated time to sell such property etc. would be most welcome, thanks in advance!

 

(our property is on the Oxfordshire/Buckinghamshire border (+/- 50 mins by train, 30miles by car from Central London) if we get a bit more specific in the discussion of areas etc.)

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We are in Bucks and are down sizing from 7 bedrooms to 2 bedrooms. Smaller properties ie 2 and 3 beds are selling within a few days of being put on the market. I would advise that you ask for prices in excess of your asking price and hold an open day. After the open day you look at the bids and ask for another round of bids with the highest bid taking the property. I can't see this situation changing soon. Houses at the higher end ie over £1.5 million are taking time to sell. This refers to Bucks and not London - please note.

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I've heard a few comments including from friends who've heard from UK estate agents (can we believe them?) that 'house prices in the South East/Outer London are experiencing such strong demand often the asking prices are exceeded by some level' fuelled by Londoners being priced out of London - Your views on this, articles, links etc. or guestimates on when it might peak/best anticipated time to sell such property etc. would be most welcome, thanks in advance!

 

(our property is on the Oxfordshire/Buckinghamshire border (+/- 50 mins by train, 30miles by car from Central London) if we get a bit more specific in the discussion of areas etc.)

 

 

 

I live just north of Brighton. We are looking at getting a property to convert, but everything sells instantly. We have had ours valued. It's up about 10% this year easily. Estate agent suggested open day and sealed bids. I've seen several knock down rebuilds, which I thought only happened in Australia.

 

All you cashed up poms moving back I guess.

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A few nice houses hanging around on the market in Lewes as prices went into the stratosphere last year. I think even Londoners draw the line at just under £1 million for a new build 3 bed terrace. Hopefully the buy to let brigade will start shedding the smaller houses and give a glimmer of hope to young families.

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Yes it is true. We really struggled to sell our house 2 years ago. Had to let it go at £30k loss on what we paid for it. Just seen it has sold again for £70k more. Gutted to say the least!


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Yes it is true. We really struggled to sell our house 2 years ago. Had to let it go at £30k loss on what we paid for it. Just seen it has sold again for £70k more. Gutted to say the least!

 

Did you change to aud as well?

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Did you change to aud as well?

 

???


Partner Visa 309/100 Applied for - 23/6/15CO assigned (WP) 1/9/15Medical Completed 29/12/15Police Check uploaded 12/01/16GRANTED 21/01/16!!!!

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Dear GW

 

May I ask your recommendation for a Bucks based agent if you have one, and what buyers think of the 'bidding' process in the UK these days? We're about to engage an estate agent, so just getting up to speed on what we need to be asking for etc. and if things still as 'hot' as they appeared a month ago

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Dear GW

 

May I ask your recommendation for a Bucks based agent if you have one, and what buyers think of the 'bidding' process in the UK these days? We're about to engage an estate agent, so just getting up to speed on what we need to be asking for etc. and if things still as 'hot' as they appeared a month ago

 

Where in Bucks? There is an excellent Estate Agent in South Bucks/Chiltern area, which we've used to buy and sell a couple of houses around here. However, as per the original post, house prices here have gone through the roof. In just over four years our four bed detached house here has gone up about 75% in value! (Or 60% up on the asking price when we bought it). Houses here seem to be selling in days, or at worst, a couple of weeks.

 

 

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Hi!

 

Wow 75% hike in 4 years, extraordinary - well done! Some areas probably have grown more than others too. Our recent valuations have had a 40k span - what's with that...

 

We've had ours a long time so the value is over time. Excellent tax advice from our Alchemist has just demonstrated to us the forex etc offset from when we moved until now means limited tax liability, so looking like the right time to make the move ....

 

The property is Chilterns based, in Chinnor, 4 miles from Thame and Princes Risborough, about 12 miles from High Wycombe or Aylesbury.

 

Any recommendations/suggestions on Estate Agent and Solicitor would be welcome and if things are still so hot, opinions too on the following would be helpful too:

 

- Do some more improvements before selling to try and maximise sale value? (interior to be repainted this week, but facias could be replaced at around 3k if likely to make a difference, both neighbours have upgraded theirs) or just sell as is?

 

- It will be emptied this week so furnish with a staging company or not?, if so, any idea of costs and any recommendations?

 

- Wait until after Easter before putting on the market?

 

- Also, any ideas whether we could do the selling paperwork without us both flying back to the UK to sign etc?

 

- What estate agent's commission rate should I be aiming to achieve when negotiating?

 

 

etc.

 

Thanks in advance for all opinions!

Edited by stamples

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Definitely furnish if possible. Buyers really struggle to picture themselves in an empty house so having furniture in there will help as long as it is nice furniture and not cluttered.


Any fool can criticize, condemn, and complain but it takes character and self control to be understanding and forgiving.

Dale Carnegie – 1888-1955, Author and Lecturer

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Definitely furnish if possible. Buyers really struggle to picture themselves in an empty house so having furniture in there will help as long as it is nice furniture and not cluttered.

 

Yes, I'd deffo agree with that. It's caused us problems both here in the UK and in Aus, when trying to sell a property.

 

 

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@stamples

 

We're more Chesham/Amersham way, so to sure about a good estate agent in Chinnor. Both agent and solicitor should be easy enough to work with via email. One thing not to get caught out with is the paperwork being signed and returned on time. We were caught out once, having forgotten to sign one page on the paperwork, and I had to run up into town (five minute drive) to the solicitor on the morning of completion. Had I been further away we'd have crashed the chain and been liable for a fair whack in interest payments to the buyer and to our vendor (we were I the middle of the chain). Also, if the UK are anything as awkward as the Australians any paperwork would need to be witnessed by someone at the British consulate in Aus. However, I suspect that we are not that anal!

 

 

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Markets generally pick up in spring, but the brexit referendum could affect the pound.

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Markets generally pick up in spring, but the brexit referendum could affect the pound.

 

It is already, unfortunately. In the short term it's the uncertainty. If we vote to remain in the EU then we can expect relative stability in FX and potentially a recovery, but if we vote to leave it will hammer sterling. Recent stories of a possible further rate cut, along with a raft of New Year signals of a cooling (and underperforming) economy, such as the chancellor's repetitive warnings along those lines would only amplify the damage to GBP that Brexit would have. All in all, not good news for sending GBP to AUD in the short term, and bad news for us.

 

 

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I live just north of Brighton. We are looking at getting a property to convert, but everything sells instantly. We have had ours valued. It's up about 10% this year easily. Estate agent suggested open day and sealed bids. I've seen several knock down rebuilds, which I thought only happened in Australia.

 

All you cashed up poms moving back I guess.

 

I was looking to purchase a house near Preston park station. How are the larger 5 beds doing in the market?

 

i.e. some of the bigger homes along Dyke Road Drive (but prefer quieter streets)

 

They were around $900k back in the mid 90's

Edited by Sustain

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I was looking to purchase a house near Preston park station. How are the larger 5 beds doing in the market?

 

i.e. some of the bigger homes along Dyke Road Drive (but prefer quieter streets)

 

They were around $900k back in the mid 90's

 

 

 

Brighton has become ridiculously expensive. Hove as well. I would shudder to think what they cost now. It seems to have calmed down a bit in the last year or two, and outer areas are now rising.

 

 

 

 

Nice place to live.

 

 

Something like this??

 

 

 

 

http://www.rightmove.co.uk/property-for-sale/property-40430601.html

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Brighton has become ridiculously expensive. Hove as well. I would shudder to think what they cost now. It seems to have calmed down a bit in the last year or two, and outer areas are now rising.

 

 

 

 

Nice place to live.

 

 

Something like this??

 

 

 

 

http://www.rightmove.co.uk/property-for-sale/property-40430601.html

 

http://www.rightmove.co.uk/property-for-sale/property-39333831.html?premiumA=true

 

More modern like this

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Trouble is, no matter how much you spend, you are still living in England.

 

You and PB have more in common than you like to think you have. Just can't help yourselves - both of you :rolleyes:


Life is not measured by the number of breaths we take but by the moments that take our breath away :smile:

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You and PB have more in common than you like to think you have. Just can't help yourselves - both of you :rolleyes:

 

But in a nicer sort of way though Hey JockinTas?


Enjoying life in Queensland

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A few nice houses hanging around on the market in Lewes as prices went into the stratosphere last year. I think even Londoners draw the line at just under £1 million for a new build 3 bed terrace. Hopefully the buy to let brigade will start shedding the smaller houses and give a glimmer of hope to young families.

 

Some of us more mature types are hoping this will happen too :rolleyes:


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What is wrong with being one of bye to let brigade? We went without to purchase bye to let to cushion our retirement. We really look after our properties, and would be lying if the extra income makes our life in retirement more comfortable, we took a big chance when made redundant for the 3rd time, to move overseas, sold our family house and bought smaller, one for us to live in when in UK.

Not many people would have done that.

We are good landlords, and there isn't a shortage of similar properties for sale, but obviously it would appear that making provision for retirement in our case that the bye to let is unpopular with many.

Edited by ramot

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What is wrong with being one of bye to let brigade? We went without to purchase bye to let to cushion our retirement. We really look after our properties, and would be lying if the extra income makes our life in retirement more comfortable, we took a big chance when made redundant for the 3rd time, to move overseas, sold our family house and bought smaller, one for us to live in when in UK.

Not many people would have done that.

We are good landlords, and there isn't a shortage of similar properties for sale, but obviously it would appear that making provision for retirement in our case that the bye to let is unpopular with many.

 

Yep there are plenty of us mum & dad investors, just trying to do a little bit extra to make our life and maybe that of our children a little more comfortable and without drawing on Government assistance.

But to be fair I think vickyplum may have meant those that make a big business out of it


Enjoying life in Queensland

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Trouble is, no matter how much you spend, you are still living in England.

 

No trouble for me

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