The property market

[Jbrown76]

What's going in your area?

Mine has loads of reductions, 20+ houses being added every day, over 1200 houses for sale within a 5 mile of my house. There has never been this many...and it's big houses, band E+ on council tax, are people bigger houses selling due to increase of cost to heat homes in winter? Is it interest rates on a £500k house are too expensive and people are selling up to get a cheaper house?

We bought our house pre-covid for about £500,000....current valuations (based on price per sq foot) would put it closer to £900,000. It's insane.

pre covid as in 2019 or 2010? to almost double in 3 yrs is definitely unusual

It's perfect for me! I'm looking to buy within the next 6 - 9 months, and there's absolutely LOADS of nice places around in the areas I want.

One has has been reduced from £2.45 to £1.75 m and still hasn't been snapped up.

even on good salaries borrowing a lot with interest rates at 5% vs 1% makes a big difference. And even if you can afford it it's quite a change in mindset to get your head around spending so much more just on debt plus there isn't the confidence that the house value will just keep growing.

I’ve seen lots of “sold” signs this week on houses that have been for sale for months. Maybe just a local issue.

Slow here. Not much added and not much selling. We wanted to buy but darent with rates as they are

@gillygeey we’ve had a near doubling in price in our area over the same timeframe. (Since covid) It definitely is happening in some areas. Still rising here this year, as I said 10-20% higher than at Christmas.

Cheshire where I am and prices staying steady with loads of sold signs around. Sold my place recently for full asking price in 10 days.