To think the market will pick up?

[CPHB2021]

DH and I have been house hunting for a while. Currently staying with family, however, we need to be out by the end of the year. Allowing for several months of the legal process we're really hoping to find something soon but the market is dire. The only houses I like are above budget and DH only likes one house and thinks we should make an offer on that. I'm worried we're rushing it and should wait as SURELY the market will pick up over the spring summer..... but what if it doesn't!

What do you mean pick up? More properties might come onto the market-but that’s likely to happen when things start moving and then prices will rebound.

So if your issue is choice then wait, but if your issue is price then I’d go now.

Choice is mostly the issue. Probably one a week comes on locally and we've been looking since October. Price is obviously a consideration but so much is over priced and sitting for 5-6 months before selling, usually after being reduced once or twice.

There is one house I absolutely love but it's over our budget. Definitely been reduced once ( possibly twice, I'm not sure ) I'm tempted to offer 15% under asking, we could afford 12% under. It's been on for 5 months.

Well no one ever pays asking, so why wouldn’t you offer on the house you love? They can only say no?

Forgot to add- we don't have forever to wait. We need to move out by the end of this year so we need to find something by July/August at a push to allow for a chain/3-6 months of legal silliness to actually complete by November ish.

True! I wouldn't offer asking in this market but 15% under would be £90k on this house and that seems absolutely ludicrous that anyone would accept that. It is worth close to asking, it does need updating but it's a beautiful period property.

I think it will. Houses and gardens look better in the summer.

People spend this time doing it up, lick of paint etc ready to put it on summer.

I do hope so! I think maybe we should hold on for a few more weeks... DH very keen to get the ball rolling but I feel rushed and don't want to risk buying the wrong house!