This site tracks asking prices being reduced by estate agents:
http://propertysnake.co.uk/site/postcode/se26
Are House Prices in Sydenham Stagnating?
Some houses and flats in Sydenham have been marked up to an incredible degree over the last year.
The national trend is cooling.
Sydenham has the East London line and a few up and coming shops opening in the high street.
Plus it is near various parks and Crystal Palace Park.
Plus is has incredibly beautiful housing stock.
Places in the south east wont really dip, but no doubt the incredible varieties on prices of properties in the same road will level out and the stupid over pricing will stop. Houses worth millions will dip as city bonuses dry up.
Fairlawn Park has had places sold recently or for sale from £300,000 to £420,000 for the same style 3 bed houses (although one has a converted loft.)
I really feel for those trying to get a first foot on the property ladder. I found it difficult 7 years ago. But people said the same thing in the 1980's or the 1990's.
The property snake website isn't really a good indication of prices. Go to findaproperty.com and you will find what properties actually sold for. All areas have overpriced properties that get lowered in price (which is essentially what property snake really tracks.)
I don't think anyone who buys or has just bought in Sydenham will be in negative equity in the next few years unless they really overpaid for their property.
The national trend is cooling.
Sydenham has the East London line and a few up and coming shops opening in the high street.
Plus it is near various parks and Crystal Palace Park.
Plus is has incredibly beautiful housing stock.
Places in the south east wont really dip, but no doubt the incredible varieties on prices of properties in the same road will level out and the stupid over pricing will stop. Houses worth millions will dip as city bonuses dry up.
Fairlawn Park has had places sold recently or for sale from £300,000 to £420,000 for the same style 3 bed houses (although one has a converted loft.)
I really feel for those trying to get a first foot on the property ladder. I found it difficult 7 years ago. But people said the same thing in the 1980's or the 1990's.
The property snake website isn't really a good indication of prices. Go to findaproperty.com and you will find what properties actually sold for. All areas have overpriced properties that get lowered in price (which is essentially what property snake really tracks.)
I don't think anyone who buys or has just bought in Sydenham will be in negative equity in the next few years unless they really overpaid for their property.
property prices
Lee, converted lofts actually add a considerable amount to a property. I think they can cost £25,000 plus to do and add double that, so that may be scewing the prices a bit. Although I do know a road near me where a house sold last summer for £360,000 but another similar one which didn't need updating was on the market for £425,000 recently. Which is a big difference. Even if you add £40,000 for renovations.
There is a 3 bed house in Fairlawn for sale for 390,000. It is 3 bedrooms. The highest price paid in Fairlawn according to findaproperty.com is 320,000 last year in August. 390,000 for a 3 bed seems rather high in comparison.
Previous to the 320,000 sale the highest price paid was 277,000.
Me thinks the estate agents are overpricing! Lovely street though.
Previous to the 320,000 sale the highest price paid was 277,000.
Me thinks the estate agents are overpricing! Lovely street though.
Re: newlands park
You prophet!!TommyP wrote:hi there - I moved to Newlands Park about a year and a half ago and we own a 2 bedroom garden flat with cellar and was in good nick when we picked it up . . . . We got the property for 190 - so it is excellent news to hear the price of what you paid for similar property in same area.
This clearly goes to show the boom that Sydenham is experiencing - which can only be spurred on more and more by the planned regeneration and the arrival of the east london line.
I can imagine prices continuing to rise steadily for the nxt 2/3 years in this area - certainly more than alot of areas of london.
my advice - do it up and sit on it !
Oh, yes and welcome to Sydenham!
P.S. I don't think you have made a mistake buying now in the slightest - if i could have afforded to buy a place earlier in this area then obviously I would have paid less. . . . C'est la vie
In terms of house prices im praying that upon arrival of the tube Sydenham and Forest Hill will become the next Balham or Putney, or at least heading in that direction. They have benefitted from significant increases in house prices over the years and they are now very very good areas of London to live. We will at least have the right types of houses i.e. victorian terraces, green open parks, much needed tube link etc for it and hopefully the infrastructure, schools and acquired shops to attract house buyers in years to come to hopefully progress in the same direction of such silubrious areas.
Hopefully we will be saying this about Sydenham in a few years http://www.balham.com/community/aboutbalham.htm
Lewisham!! We need that investment quick!! Pretty please
Btw leenewham, just out of interest what are the up-and-coming shops opening in Sydenham alongside the EEL or was that just a figure of speech? Would be nice to obtain a clearer vision of the future Sydenham if you have any info
Hopefully we will be saying this about Sydenham in a few years http://www.balham.com/community/aboutbalham.htm
Lewisham!! We need that investment quick!! Pretty please
Btw leenewham, just out of interest what are the up-and-coming shops opening in Sydenham alongside the EEL or was that just a figure of speech? Would be nice to obtain a clearer vision of the future Sydenham if you have any info