House prices

[Breadyl]

Are they going down?

we’ve sold and can’t find anything. Looking everyday and we’ve viewed 2 in 2 months!

Crazy prices here in Cambridgeshire. When something nice comes on the market it’s gone in a matter of days and hardly anything is coming on. New builds are hanging around a bit but everything else is going fast.

South East here. Neighbour in process of selling house . He had been told her will get considerable more this year than next year and plans to move somewhere smaller for 12 months and then retire to France.

It's the same in my area. Propeties are selling within days, and very little is actually hitting Rightmove as most properties are snapped up before being listed.

If house prices go down, cash buyer landlords will snap them up so I think prices will stay inflated for a while yet.

recession , yes…..crash….definately not….house prices will continue to rise, albeit at a slower pace

I looked in my area (Warwickshire) yesterday. Prices still the same and very, very little coming on

Bonkers market here in NW - still rising massively. It's an area people move to specifcally for schools so no option to wait for market to slow down if you have children needing to apply - maybe not as many houses coming onto market so demand far exceeds supply. Result is everything going quickly at sky high prices.

Not in the South East where we are. We brought our 3 bed house in December 2019 for £570k and two near identical houses across the road have just sold in a week for £825k. A 2 bed on a busy road has just sold for £900k. It's insane and completely unsustainable! We have had several letters through our door asking us to sell, but we wouldn't be able to afford to buy another property in the area, or even close to the area.

I think the tide is turning. Lots more for sale, those overpriced are either sitting there or being reduced. Lots coming back up after sstc months ago.

I really hope decent prices return otherwise people like me in a good position but older wont find anything and younger people wont be able to buy

@Zeus44 thank you, I agree I will just go and buy if I find something which I like ... though it's unlikely to be my dream home considering my tiny budget

Agree! It's not the FTBs that win from a crash

It used to be.

The crap stuff isn't selling round my way - this time last year even the dross was barely making it to market but now there are lots of reductions. That said, prices are definitely still rising and I've seen some obscene asking prices for really bog standard stuff this week. Agents are crazy busy and don't have enough staff to do all the viewings.

I've been looking for 18 months now and I'm so fed up with it. But I can't bring myself to just buy any old house to get on the ladder. I may yet regret that.

This is in Cornwall.

We bought a 4 bed in 2019 for £415k, we sold last week for £575k. It is getting absolutely ridiculous.

I purchased a 5 bed house 6 years ago for £275k. I’ve just checked on prime location and I’ve seen a 2 bed terrace house in the same town as mine that’s on the market for £240k. My house could probably go on the market for £500k now if I chose to sell. It’s ridiculous. I can’t see how it can continue this way. We have had a lot of people move to our town from London over the past few years and I think this has driven up prices even further.

West Midlands commuter Town here. Things are definitely and noticeably much slower now. Houses that would have been snapped up 6 months ago are now hanging on for much longer . Quite a few sstc are also back onto the market. There is now more stocks then ever. The sentiment had changed. Buyers either are fed up hence staying put or being more careful with what they are willing to pay