A mention in the Sunday Times. From today's property section '
Greater London is now outstripping prime central London.....family homes in smart southeastern suburbs seeing rises of £10,000 a month since March....two and ` half years ago a two-bedroom Victorian house in Forest Hill sold for £250,000; earlier this month it went under offer at £450,000'. OK - so I picked out the highlights , but it still beats a punt at the bookies
But what good does it do you? If you're lucky enough to own property in Forest Hill, and see its price rising so dramatically - what can you do with it? Watch as the next house "on the ladder" moves ever further out of your reach? Or move somewhere crappier and cash in?
I just don't get why, for the vast majority of people who aren't planning to downsize or relocate, house price rises are a good thing.
And yes, I don't own. I can't own - decent salary, but only one of them, being single, so everything's way out of my reach. Though I have just returned from a trip to Vegas - where not only did I break even (a miracle!) but my punts tended to be of the order of 50 cents (35p ish) a pop - not £200k plus for a decent one bed flat.
have to look at everything in context though. FH/HOP got the overground and benefited from ED spillover. Does suck if you are a FTB though no doubt....