Harringay, Haringey - So Good they Spelt it Twice!
Harringay Property Breaks £1M Barrier
Chatting with one of the Harringay estate agents recently I learned that a Ladder house sold for over £1 million this year.
This good-news-for-some-bad-news-for-others piece of gossip comes with sting in the tail (or a sugar-coating, depending on your perspective). With a worldwide economic correction looming, it may well be that the price rise we've all been accustomed to over the past few years are about to stall, or possibly event reverse.
Tags for Forum Posts: property prices
Replies to This Discussion
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Permalink Reply by John McMullan on
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What would you do with a million pounds if you had it? What would protect you from record low interest rates and spiraling rents? You would borrow as much as you possibly could and the best way to do that is to borrow against a property.
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Permalink Reply by Xavier on
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Apparently there is a rush to beat the deadline for stamp-duty rise for second homes (not sure of the small print).
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Permalink Reply by Rob B on
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Hmmm, there is nothing on the Land Registry supporting that (there is a delay of 1-2 months before the details go up though). I would suspect a "standard" ladder house won't reach £1m for another 9-12 months. If it's true, I'd guess it was a massive double-fronted one on the New River or similar.
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Permalink Reply by Hugh on
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I understand your scepticism, but my facts are correct. So, good news or bad, your suspicions are confounded. The £1M barrier was breached earlier this year. No doubt it will appear on the Land Registry in due course.
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Wow, that's quite a jump from the 1 or 2 that have sold in the low 900s to suddenly £1m+. It must be a unique large property - or a buyer went crazy!
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On a nice quiet road... :)
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I'm almost certain that I went to see this house as part of the Open House thingy. I distinctly remember thinking they wouldn't recoup the cost of their refurbishment which I recall was £250,000...wrong again!
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Permalink Reply by fleurie on
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Yes, that's the one. My friend put in an offer of £1m and someone went higher. Lovely house but crazy prices.
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Permalink Reply by Clive Carter on
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The breaking and breaching of this 'barrier' reflects both the unaffordability of housing in London and more broadly, the housing crisis. It may be a joy for the haves but it can be no cause for satisfaction, let alone celebration, amongst the have-nots and maybe never will-haves. Those who own one one million pound house in London may be able to borrow against it, but they still need a roof over their heads.
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