First £1M house in Harringay soon?

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Permalink Reply by David Barry on August 3, 2012 at 10:30

I know what you mean about "snobbism". However I think its partly a matter of the scale of London (the population of Greater London at night -residents as opposed to daily commuters is about 8 million - the population of Switzerland.) So in many ways London should not be conceptualised as a City but as a country in its own right, the size, in population of Wales and Scotland put together. (So where is our devolved parliament then? An argument for a different thread -different day). This makes it difficult for people to build up more nuanced market knowledge. So snobbism rules. And that is what is driving the market in Fulham, which is largely being pushed by cash buying foreigners worried about instability in the rest of the world,who have little knowledge of the City they are buying into.  Fulham is now showing signs of being a bubble. On the other hand as part of an age old process, our Canadian Comrade (my daughter hopes to go to Canada for a year this autumn on a post graduation "gap year" any tips?) has decided that in terms of what HE wants the ladder is undervalued so he has taken the money from Fulham and trotted over here. Of course if enough people do that the perception of the Ladder will change, just as, most recently, the perception of Battersea has changed, and property values will rocket.

Either way he has what he wants, as at least he has the house he wants, and if it subsequently appreciates well that is probably OK too.

I know someone who moved to London in the late fifties, had little money, and bought a house in the only area of London they could afford at that time  -Primrose Hill..

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