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In this issue

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Back to Schooldays
Rowson's Comment
Around the Block
News in Brief
Stop the War
Mini-march
Lysistrata Day
Fringe Festival
Straight to the Point
Time to Finnish
Day in the Nick
Starting Over
Readers Letters
Herbal Cleansing
Local Music
Tripping Out
Tippling at the Tup
Property
Housing Matters
Very Testi
Art Happenings
Vietnamese Food
Entertainment
Gardening
Marathon Man
Surfing N16
Man in North Bank
Xword

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Stoke Newington property owners are amongst the most affluent in London. This paper wealth is mostly based on being a double income professional couple and owning a Victorian era property whose value will have increased by a factor of five to six over the past 20 years.

This is not a love song for private sector tenants or someone trying to put a foot on the Stokey property market ladder. In contrast, Stokey property owners have a schizoid combination of an underlying fear that the Stokey property bubble might burst one day and quiet optimism that the good days are here to stay. N16 decided that it is the right time to investigate trends in the N16 property market, looking at the current cost of property and talking to Stokey estate agents.

Michael Naik and Co, the longest established estate gents in the area thought 'things are quiet at the moment, but this is not unusual for Stoke Newington and we expect things to pick up in the next few months'. They also believe that the influx of Stoke Newington professionals and the desirability of the area and the properties help to stabilise prices.

Winkworth's are pleasantly surprised. 'Negative press speculation has resulted in a drop in the number of viewers, but not in the number of sales due to there being more serious buyers. Overall, there has been no drop in values except in the first time buyer market, but this was due to that market being very bullish last year. We think prices will remain stable.'

The Next Move believes that there are several types of property markets in the N16 area. 'The first time buying market looking for something up to £150,000 and the second or third time movers market after a £300,000 property are very difficult at the moment. But the more expensive family housing market is doing particularly well.' 'But last week, there was a definite increase in the number of first time buyers.

Taken as a whole, there is uncertainty. It is very up and down and difficult to predict.' Holden Matthews said that 'the property market is quieter than over the last three or four years, but prices seem to be holding up'. They also think 'people have to be more realistic about their selling price, but that the outlook is not too bad. No huge increases in value, but overall, property values are stable.'

In N16, what costs what? In Gibson Gardens, a one bedroomed flat costs £130,000. In Church Walk, a two-bedroomed flat will set you back £180,000. While in Cranwich Road, a two bedroomed flat is £190,000. In Oldhill Street, a two bedroom conversion is yours if you have £230,000 and if you want a two-bedroomed flat in Stoke Newington Heights, it will cost you £250,000.

If you want to buy a house, take a deep breath. A three bedroomed Victorian house with no garden in Oldfield Road costs £350,000. Fancy a large five-bedroom house with original features, fireplaces, high ceilings, cornices, centre rose and a 45-foot garden in Brooke Road? Then, £400,000 will do nicely. Do you have a large family or want to start a private sector commune? £475,000 will get you a large six-bedroom Victorian house with wood floors, cornices, centre rose, two bathrooms, two kitchens and a 45-foot garden in Albion Road.

On the face of it, it seems that there will be no more silly increases in property values, but that in the foreseeable future property prices will remain stable.

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