Help me buy a house

[JollyGoodBunting]

I sold a flat last year and have been trying to buy a house ever since. What's causing the lack of supply? I'm in Manchester, looking in Trafford. I can't even get a viewing.

I'm a chain free buyer with a deposit and mortgage in principle. Surely I should be an attractive option to the vendors?

Have you asked the local estate agents?

Yes, lack of supply and an influx of cash buyers from Hong Kong.

No one seems to know what the reason for the lack of supply is though.

There has been a lack of supply for ages.

You need to be willing to look further afield if there's nothing available

What's causing it though? Are people just not moving and putting their houses up for sale?

Yeah people just can't afford to move right now

Cost of living increases and economic uncertainty and in my area very high demand.

People can't afford to move?

I understand that some people would have brought moves forward, to take advantage of the stamp duty holiday. But that ended last June, so the impact should have worked it's way through the system.

There's 761 properties in Trafford on RightMove at the moment with 2 or more bedrooms so it's not that there aren't any for sale, there's clearly just none that meet your requirements! I think the market everywhere has slowed down, there's definitely less new stuff on near me compared to a year or so ago. I think a lot of people got itchy feet during lockdown, moved further away from work due to home working, moved from flats to houses so they could have a garden, went stir crazy in their 4 walls and decided they needed more space etc. where as now people are worried about markets crashing and the price of living going up so it's understandable why they're reluctant to move.
Trafford is always "hot" for buying because of the grammar school system and people wanting to be in school catchment areas.

Where abouts in trafford are you looking? There are certainly some very popular areas where houses fly off the shelf - altrincham/sale particularly! What are you looking for and what is your budget? My sister works for a local estate agent in trafford, perhaps I can help?

People can't afford to move?

Furlough got people into debt, followed by redundancy, cost of living increases, no real wage increases.

I've been looking in Sale / Sale Moor. 3 beds, up to 400k.

If you don't phone the agent within an hour of a new house hitting Rightmove, you can't even viewing.

Register with the estate agents in the area and get them to put you on their database. They can notify you of new properties before they go onto Rightmove

Thanks @Summerbreeze111

I'm also widening my search to include Stretford I think.

This is nice but probably too far

www.rightmove.co.uk/properties/119104211

Thanks @girlmom21

My support network is around Sale though. I can look at Stretford and possibly Urmston too. Maybe Eccles.

I would definately consider davyhulme/urmston/flixton way with your budget > stretford. The transport is good, there are 2 train stations and a metrolink at the Trafford Centre.

Sale is so popular, it sounds like you are having a nightmare of a time. When we purchased last year, also in trafford, we were competing with cash buyers who were offering before they had even viewed the property and then likely doing a second viewing after they had secured the sale. You aren't bound to a contract at that point so it's a win win for them! Bloody nightmare.

My Manchester knowledge isn't too great but this is coming up on Rightmove within 3 miles of Sale www.rightmove.co.uk/properties/122818082

It's only gone on today so you've probably seen it

So far in 2022, 73% of all buyers have been chain-free according to a news article I read yesterday. Lots of people looking to buy but most have nothing to sell so there is no supply.

Apparently us “proceedables” are in the best position to secure a property but it doesn’t feel like it to me. We have been looking for 12 months now.

It's such a strange market. I wonder who all these people buying are. It's like the market has frozen.

Oh I've found you one in Sale that's been on for a while www.rightmove.co.uk/properties/115505252

I think it's got potential!

Can you stretch your budget a bit?
There isn't much on the market but £400k for 3 bedrooms doesn't buy you much in Sale, particularly anywhere within walking distance of the Metro station.
This needs a bit of work but is a good price for Timperley.

Or Urmston, a stone's throw from the station and village.
I would rule out Cadishead, you can't be that desperate! 😜