Sydenham Housing Market

[GillM]

Just done a quick review on Rightmove for the Sydenham area. Whilst Sydenham house prices seem to be holding their own there only seems to be a "handful" that are "Sold Subject to Contract" (and these at the very top end of the market).

I also noted that a number of properties have "Fixed Price Only" attached. Which I assume is to do with oppotunists that are trying to make sellers drop the price at the last hurdle.

Any of you that have your property up for sale I would be interested on what sort of response you are having. Also a view from any local estate agents that watch the forum would be useful.

[Eagle]

As you say Sold Subject to Contract is not , especially in todays market , sold.

You need only to consider SOLD prices all others could and probably will fall through. Also volumes.

First time buyers cannot get mortgages because they need to find say 25%, not get 100% plus as before. This is welcome reality check as the lenders should never have lent over 80% in the past.

Usually there is a first time buyer at the bottom of the chain.

[leenewham]

Recent sold prices in Sydenham:

• Flat 10, 44, Cator Road, SE26 5DS - Sold for £215,000 on 12-08-2008
• 1, Haseltine Road, SE26 5AF - Sold for £130,000 on 11-08-2008
• 37, Cator Road, SE26 5DT - Sold for £1,525,000 on 07-08-2008
• 10, Ridgewell Close, SE26 5AP - Sold for £231,000 on 04-08-2008
• 15, Elderton Road, SE26 4EY - Sold for £250,000 on 31-07-2008
• Ground Floor Flat At, 31, Champion Road, SE26 4HD - Sold for £180,000 on 31-07-2008
• 38, Kent House Road, SE26 5LF - Sold for £180,000 on 29-07-2008
• 103, Hazel Grove, SE26 4JJ - Sold for £130,000 on 25-07-2008
• 18, Champion Road, SE26 4HR - Sold for £250,000 on 09-07-2008

Source: www.ourproperty.co.uk

If you register on this site it tells you the sold prices in your area for free.

Note one property that sold for over 1.5 million!
And one that sold for 130,000!

[Eagle]

Thanks
The 2 at GBP 130.k look interesting as does the one for GBP 1.5 million.

Not knowing the roads that well I would assume the 2 @ GBP 130k were ex council properties.??

[leenewham]

Here's a tip, put the address into googlemaps and have a look from above on the satellite setting.

One £130,000 property is near Sainsbury's behind the school and is victorian (it must be a 1 bed flat fr that price) and the other is on a estate near Mayow park and looks like a 1960/70's place.

[Chazza]

http://www.houseprices.co.uk/ is a very good website for this sort of thing. I bought a house in Sydenham this year at probably the top of the market (but hey, I'm in it for the long term) and was relieved to see that months after my sale went through, people were paying a little bit more for identical properties. I doubt that would be the case now though, but as ever the forthcoming ELLX will hopefully cushion us from some of the fallout of the current economic situation.