Anyone else trying to sell a house?

[3boysandadog23]

Hello! Anyone else finding the housing market so slow at the moment?! We’re in the south east, found a house we would like so put ours on the market 2 weeks ago. Had 6 viewings and nothing else booked in. Other house hasn’t had any offers yet either but feel like we’re just not getting anywhere!

Yes - south east too. Not mine, but the old family home. It's been on the market for months, had one sale fall through.
It's an unusual house, that would need a lot of work doing, so not ideal to sell in this market. We do actually have 2 surprise viewings this week, but before that nothing for weeks. It's very slow, and | suspect a lot of houses are over-priced. We've dropped the price twice now I think.

The market is tough at the moment, lots of reductions near me.

Your price must be too high?

Sympathies. It took me a year to sell a property in the SE. I think the market has been difficult for at least a few years and doesn't seem to be improving, unfortunately. Do you have a really proactive estate agent? Is there also a local online forum where you could advertise and link to the sale details?

Very slow and reductions. There’s a probate sale up the road from me but I think it’s over valued.

Must be a south east thing. Property here moving really fast at the moment (East Midlands), especially in nice areas.

Sorry to jump on this with a question - my daughter is just starting to look for her first home - also in south east. What sort of offers under asking price are acceptable nowadays - it’s a long time since I’ve moved so out of touch. I appreciate it’s a bit of a how long is a piece of string question

We were going to list ours (East Surrey) but have decided to stay put for a bit longer. I've been looking at houses for a while now and there is a lot being reduced and not shifting. We were looking for a 'forever' home so larger family ones, and I noticed a lot were still looking at premium prices but haven't been touched for 40+ years and need a lot spending on them. I don't mind doing some work, but I'm not paying a premium for it. As it is we're both working full time with 2 young kids and are knackered trying to work to afford it, plus stamp duty is insane. I don't actually mind if prices dip a bit as long as it filters through to our onward purchase too. Suppose it's different for downsizers which is why they're still listing high..

Also south east. A house a couple along from me has just sold for £200,000 below the original asking price. They are desperate to sell for various reasons. What a bargain someone has been lucky enough to cop.

@julieh1968 our house is on for £875,000 and we have thought that we would probably accept £840,000 but preferably at least £850,000

Thanks for everybody’s responses, nice to know it’s not just us but frustrating things are so slow around here. Have seen viewers going into the house that we would like to buy today so not feeling hopeful that we will sell ours in time!

Always worth a go, especially in this market. I recommend youtuber moving home with Charlie, great advice for first timers.

Not here, sold ours in 2 weeks for £5k more than I expected. If you are willing to accept a price list it closer to that. This is my third time buying and I just didn't bother offering on overpriced places.

Seconding the recommendation above - I’ve been following MHWC and he has lots of useful advice.

We are just about to exchange contracts on our house (London suburbs) - it has taken us the best part of a year to get to this point, and we haven’t even found an onward purchase yet (we’re planning on renting). Both the market itself and conveyancing times are incredibly slow. We recognised this last year and reduced our asking price accordingly, but many other sellers seem to be holding out at inflated 2021/22 prices that don’t reflect the current market - these houses are not shifting and keep coming on and off the market with different agents. Seems to particularly be the case with larger family homes, many of which (as PPs have noted) require lots of updating that isn’t reflected in the asking price.

It’s been a long slog but we are just grateful to have sold in this market and will now be in a good position as buyers. I suspect that prices have further to fall this year, especially in the SE.

Daughter sold hers after 2 days.....3 months later buyers changed their minds!!! Absolutely fuming. There needs to be a change in the whole process