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 Armstrong & Co Solicitors

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Sell me your house in Forest Hill/Honor Oak!
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Posts: 2
Joined: Aug 2013
Post: #1
12-08-2013 12:49 PM

My husband and I have been at this property search thing in Forest Hill/Honor Oak for months now, and we’re getting increasingly frustrated by the feeding frenzy of trying to secure a property. We are eager, willing and able to move quickly (or slowly depending on your time frame…we’re flexible!), and we’ve totally fallen in love with the area, but after being outbid way over asking price several times, we think there has to be a better way!

So…I’m pleading to you, members of the SE23 forum who want to sell their home and are keen to avoid agents’ fees/nonsense. We’re looking for a house with a garden and three bedrooms at a minimum in a good catchment area (though that pretty much applies to everywhere around here, I think), and reasonably close to transport links. We’re not afraid of a bit of work, and we are a nice little family who will take good care of your property once you’re gone! Message me if you want to discuss further. Thanks in advance!

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Posts: 19
Joined: Mar 2013
Post: #2
12-08-2013 09:16 PM

You sound like lovely neighbours (sorry I have nothing to sell). Please someone sell them a nice house!

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Posts: 129
Joined: Mar 2009
Post: #3
13-08-2013 06:27 AM

I sympathise. It is a bubble partly as London property is resilient but with a major local push from the overground. I'm in Garthorne Rd, Honor Oak. Good, well built early Edwardian terrace houses, street parking. Neighbour sold her (very nice) 3 bed a couple of weeks back. She went out on a Sat, the agencies fed through 20 prospective buyers that day, sold on the day for the asking price of £500k and I daresay she could have got more. Mind the 4 minute walk to the station (pace the overground) helped! The buyers come from North London as they can't afford to buy there......

If you're prepared to trade some walking distance from the stations you may find prices cheaper. So parts of Perry Vale or Stanstead Rd (Forest Hill / Catford borders) may be cheaper. Good luck!

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Posts: 42
Joined: Sep 2010
Post: #4
13-08-2013 07:23 AM

I do sympathise, we moved here a few years ago just before the ELL and it was easier then but we moved from Hackney and it was the same over there with sealed bids and nothing coming onto the market. I haven't tried it but friends of ours leafleted houses in the areas they wanted to live and they got some good leads. Houses are now all priced around the £499k mark which seems ridiculous, a house on our street (off Stansted Road) sold for £485k. Good luck, it will happen, it's just really frustrating when it's not.

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Posts: 40
Joined: Apr 2008
Post: #5
14-08-2013 01:49 PM

I fully understand your frustation. Ive been to many of those open days this year where you have a smug estate agent knowing that they dont have to do any work while they let 30-40 people wander around like cattle! It makes you think - 'whats the point?'.

It's a total false economy at the momment accross the whole of London. There are way more buyers than sellers and people are overpaying.

Wait for interest rates to rise then marvel at the sheer amount properties suddenly appearing on the market when that currently dirt cheap mortgage is not so cheap anymore. CRASH! Then grab yourself a bargain.

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Posts: 3,236
Joined: Mar 2005
Post: #6
14-08-2013 02:20 PM

Wait for interest rates to rise then marvel at the sheer amount properties suddenly appearing on the market when that currently dirt cheap mortgage is not so cheap anymore. CRASH! Then grab yourself a bargain.

Alternatively, Forest Hill and Honor Oak are just such attractive areas that house prices are significantly below their correct value, which is why there is so much demand, and why house prices seem to be rising quite quickly.

Rather than waiting to buy a house in Forest Hill, the next time you go to look round a property consider if you are willing to place an offer 20% higher than the asking price (i.e. the price you would pay in SE22), you might not get a bargain, but you will have a lovely house to live in, less stress during your search, and you don't need to worry about the other 30 people going round the property.

Alternatively explain to me why East Dulwich is a 20% better place to live? I really don't get it.

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Posts: 1,538
Joined: Apr 2006
Post: #7
14-08-2013 05:30 PM

Newbie, my wife is an estate agent in Forest Hill. When she finally gets home in the evening she looks far from smug.

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Posts: 129
Joined: Mar 2009
Post: #8
14-08-2013 06:56 PM

I can see that there is a possible housing price bubble coming up - and yes when interest rates rise then there might be a reversal of prices (though if you have a real crash - say like the early 1990s when property was unsellable - that has its own problems). But I suspect big rises in interest rates are a couple of years away.

If you really want a punt, try Penger / Anerley - on the overground line, close to Crystal Palace Park, not such a nice area, not gentrified as yet - but it will come (the Bridge House pub just outside Penge West is a harbinger of things to come). You'll get more house for your money.

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Posts: 2
Joined: Aug 2013
Post: #9
14-08-2013 07:07 PM

Thanks for all of your replies (even though none of you is actually selling me your house yet as requested...Wink. Our new strategy is to look for things 50K under our budget, as suggested. I wish we had known this tactic was necessary when we lost out on the first house we loved (but alas, we only offered 12K over!) but now we are just waiting for the right thing to come on so we can throw everything we have at it. We are looking further afield out of necessity but our hearts remain in FH and HOP....Rolleyes

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Posts: 1,111
Joined: Jun 2008
Post: #10
14-08-2013 08:08 PM

I'm in the Forest Hill / Sydenham borders - 10 minutes walk to either. Sydenham is definitely worth a look, and as it is also on the Overground, still great for transport. Sydenham Road doesn't have the (increasing) charm of Forest Hill (never thought I'd use the word 'charm' about FH when we moved here 14 years ago!) but it is currently being completely overhauled (new pavements, planting, pocket parks, better traffic lights, new planting). Worth a look, and depending on where you are, close enough to FH to walk for a drink or meal. Also benefiting from the stellar efforts of SEE3, our local Portas Pilot project.

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