What’s the property market like round your way?

[dubyalass]

Asking because here in my bit of the south west it is seemingly almost dead. Renting and selling. The few good houses going under offer immediately because there’s nothing else on, ditto rentals because they’re getting loads of applications for the few places available, even those that look barely habitable. I know it’s still early in the year and Covid will be having a sizeable impact, but am interested to know if it’s just an issue locally or if it’s the same countrywide. I’m trying to find somewhere but it’s proving impossible!

It’s on fire here. Properties going under offer before even making it onto RightMove, often for higher than asking price. It’s nuts. Sussex.

Crazy. I’m an estate agent in SW Scotland and properties are going really quickly. Properties that go to a closing date (sealed bids in England) are routinely receiving over 10 offers and in some cases selling for £30-40k over the home report value. Even those that are more of a slow burn (mid terrace ex council for example) are still busy with viewings and selling quicker than we would have seen pre-COVID.

Not sure how long it will last but we expect it to get busier as lockdown eases and people are able to travel easier for viewings.

Properties here where I live in the Midlands are selling fast.Prices seem to have rocketed as well.

It's crazy.

Rental prices have risen by £100/£150 a month.

It's a shithole, no one moved here, there's no jobs and I don't know how the hell locals can afford it. It's looking like we'll have to move an hour further north.

We are SE commuter area. Very little is coming to market, but I hear viewings are going crazy and rentals are being pulled within a few hours of being listed, as so many people are requesting viewings. I suspect this is mostly people moving out of London. We have several friends ‘under offer’ and none can find anything.

Oh, and prices have risen massively! Our friends went to market before the first lockdown at £500k for a three bed semi. They reposted in the Autumn for £600 and accepted an offer at £598k!

Spoke to my solicitor today. He said from speaking to estate agents, it's a seller's market, there's nothing around, it's overpriced and stuff that wouldn't normally sell is moving (south west). I'm just sitting tight.

They reposted in the Autumn for £600 and accepted an offer at £598k!

Jesus, I might move us all into a tent if that's the going rate

I’m in the NE. Prices have gone up lots. The market was busy but it’s much quieter in the last couple of months. I think some people who had been vaguely considering putting their property on the market in the next couple of years moved quickly for the stamp duty holiday.

I'm in Wilts (somewhere in the middle between Bristol and Swindon). Every property listed for my local area on Rightmove is now marked Sale Agreed! I've never seen that happen before and nothing new seems to have come on the market for a few weeks now.

My son bought within the M25 but on the tube (only just) in the SE last month. Properties were going like hot cakes even if you offered the asking price - we lost out on our first choice but then he did get one. Same with lettings - everyone wanted these 2 bed terraced houses with garden but commutable (just and expensively) into London.

3 couples viewed it to rent the night my son completed the purchase (my son won't move into it for a year or two hence letting it out) and 5 the day after and we had tenants move in 2 weeks after buying it. It was all about people wanting more space because they are working from home and about people wanting an extra bed room and a garden.

Sussex it's on fire here , very little coming onto the market and they are getting snapped up straight away .

Perhaps you don't actually mean your area is a dead market ? More that nothing is coming available ? If it's dead they wouldn't be selling

@crazylikechocolate

Sussex it's on fire here , very little coming onto the market and they are getting snapped up straight away .

Perhaps you don't actually mean your area is a dead market ? More that nothing is coming available ? If it's dead they wouldn't be selling

Yeah I think you’re right, I didn’t mean dead, more that there’s little coming on and what is decent is selling/being let really quickly. But I also wonder if people aren’t moving because things are so precarious job-wise. I would rent for a while and see if things improve but there’s bugger all coming on to the rental market either!

Seeing a lot of holiday lets going up for sale, but they’re either too expensive or not what I’m after.

Interesting to know it’s not just down here that’s gone mad.