South East sellers - how's activity?

[Thisandthat2017]

I am sure we have all heard about the boxing day to new year spike in interest. We put our house back on, with a new agent, just before Xmas. We have one viewing booked in for tomorrow but that's it. How's everyone else finding things? When is it likely to pick up?

Its not great at all. Lots of people might have been looking but people aren't getting what they want for houses and it's not looking like it will pick up.

Not great here. Haven't had a viewing for three weeks. Have got people interested but they need to sell their house and they haven't had much luck.

It's not going to 'pick up' unless sellers start lowering prices. There has been a downward trend in London and the south east for about a year almost. The market is correcting (finally)

We have reduced, and so have most of the houses we are viewing.

Following this with interest. We've had an offer accepted on a greatly reduced property but they are staying live on the market as we are not yet under offer. Or advert is due to go live today and my agent got us a viewing yesterday but it was a no go. I'm busting for this advert to go up, I really need this house to sell so I can buy my dream home that I've already found

Shit here (south east London, border of Kent). Had an offer agreed but the buyer went awol

We have also dropped our price from 435,000 to 415,000 and are expecting offers below that. It's all relative though as the houses we are looking to buy have also had to drop. Not everyone is understanding yet, a property has just gone on by me for 460,000 yet a house opposite it, same style/size/condition has to reduce to 399,000 before selling last month. I am wondering about leaving it for another 6 months for the market to settle a bit 🤔

Suppose it depends on which part of the SE you live, as I'd imagine it varies. I'm in Surrey & after having to remarket our house back at the end of November when the chain collapsed we reduced our price by 25k to 400k, so despite being small, its the best thing on the market for its price in this very expensive location. Some of the comparables are quite overpriced & up to 50k more. The market over Christmas was pretty dead, but due to our price we have still had a reasonable amount of interest, 12 viewings in 45 days. Trouble is people looking from outside the area seem to think they can take the piss & we've had 2 offers of 30k less than our already realistic asking price, which we literally cannot accept.

Personally we found the so called Boxing day rush a load of crap, but since the new year we are getting a massive increase in hits on our ad online. Boxing day converted into 1 viewer who can't afford to spend more than 350k.. So why look in my area where its impossible? 🙄 Have another viewing booked for Sunday. Fingers crossed!

Trouble is people looking from outside the area seem to think they can take the piss

Offering lower than asking price isn't taking the piss

& we've had 2 offers of 30k less than our already realistic asking price

If nobody will pay your asking price then it's not realistic

which we literally cannot accept

Then you may not be able to sell your house

This is called market correction and it's well overdue

I stand corrected Ada Of course randoms on the internet & people from outside the area always know more than a local ex EA with experience in buying & selling 20+ of my own properties over the last 20 years!

Just proved the point actually that as an outsider not having done their homework is easy to assume that all houses are overpriced, which does those of us who are priced to sell no favours. Personally I'm a very motivated & realistic seller. Our previous offer, (which is still open) was for 390k, but they are unable to find a new buyer, so we start again, still willing to be flexible, but not to the tune of 75k off of our already realistic initial asking price, when we need to be able to buy on. As things stand, we reduced so much that if we don't end up buying from our vendor, who has also reduced greatly to accept our offer, then we simply cannot afford to buy anything else in the locality.

The joys of living in an expensive area. Every bugger wants to live there & then assumes its all overpriced when they can't afford it!

You're right, thisandthat the house we've offered on has been heavily reduced so we are able to go a bit lower with ours. Just heard from our agent we've got another viewing on Monday. Fingers crossed!