V v low volumes because nothing is selling.
The question is simply why isn't it selling when there is such a miss match of supply and demand?
It comes back to there being a significant generational gap that occurred over housing because of the 2008 crash.
There is a very distinct gap between DH and I. People born before 1980 are doing OK compared with people born after 1982. It shows up in the figures and we've noticed it anedotally with our circles of friends.
The main issue is those who didn't share in equity gains in housing, now being priced out of the market and if they can afford a house, they can't afford to move up it.
It's really marked where we are. People locally 10 years older were able to buy 4 bed room detached properties at the same stage in their career but people a similar age to DH are struggling to get 3 small bed semis here now. The schools which were ALWAYS oversubscribed have had spaces this year.
The developers have not cottoned on to the fact that no one can buy £500,000 luxury detached properties as they once did. The ones they built here in the last 2 years have really struggled to sell.
However those small 3 beds? They fly off the market rapidly and are inflated to a price above where they should be due to a shortage.
Theres also a spot in the market at about where there are no properties between the huge 4 bed detached and the small 3 bed.
So no one can move up the ladder slowly.
It's nuts. The whole market is fucked because of all the tinkering around the edges and lack of cohesive thinking.
It's either first time housing or big expensive housing that's been built in the last fifteen years.
I know loads of people who have got kids into school and now thinking if having to move out the area as a result of a combination of stupid prices and lack of the right type of housing stock.
As I say, local politics on this, drive me as nutty as Brexit.
The older generation have absolutely no idea about the structural issues and think it's people not saving hard enough or working hard enough. Quite honestly they just don't understand how things work, just like the current and last 2 PM's don't know how the EU works.