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Original poster

Please tell me more houses will come onto the market in the next few weeks!

143 replies

Lolly567 · 01/09/2018 10:14

Just been obsessively checking Rightmove every hour for pretty much the past six weeks and getting a bit frustrated! I really hope it’s true people wait till September to list their houses!

OP posts:
Lilmisskittykat · 07/09/2018 20:27

I do wonder if Brexit is having a lot of answer for at the moment too ...

peachypetite · 08/09/2018 09:09

We had to reduce ours to sell but I think a lot of houses, especially the ones that have been on for 6 months and more, are holding out for asking price. We aren't willing to pay it!

Palmer1983 · 08/09/2018 09:16

There's allot of scaremongery surrounding prices at the moment so some people are sitting tight.
There's also the tax and stamp duty issues with landlords on buy to let properties going up therefore rents will go up so more people decide to buy then rent so less housing stock on the market Confused

Alexalee · 08/09/2018 20:45

Our closest new build site has just reduced all 4 bed detached houses from 700k to 600k... presumably due to the maximum price house on help to buy being 600k.

ChiaraRimini · 08/09/2018 21:00

We've had 4 viewings today, we've had to drop our asking price but fingers crossed the market is starting to move again

MrsWhirly · 09/09/2018 15:02

Just listed mine in SE London x

Bluntness100 · 09/09/2018 15:07

This is what happens when people get spooked, they don't move unless they'd have to, so then there is less properties on the market. As there are always people who have to buy, work relocation, whatever, it means demand starts to outstrip supply and prices rise again.

It will rebalance it's self though.

RubyTrees · 09/09/2018 18:29

As there are always people who have to buy,...
On the contrary, there are no forced buyers. If you need to move for work, you always have the option of renting. If you prefer to buy, you can do so at your leisure when the market conditions suit you.

Plenty of people are forced to sell due to work relocation (if they don't want to or are not able to rent out their house), family break-ups, having to move into care homes etc.

demand starts to outstrip supply and prices rise again
Only if demand is matched by economic demand. Banks have tightened their lending criteria so UK house prices can't keep rising to infinity.

Kernowgal · 09/09/2018 20:52

I signed up for alerts in my chosen area earlier this year; it was fairly busy in the spring but the summer holidays were dead and it's barely picked up this week. I am looking in a limited area but there should be plenty of housing stock within my budget.

In my current location some places are snapped up as soon as they come on, while others, which I would have expected to sell quickly, have sat doing nothing for weeks or months. Three are empty, which makes me wonder if they are someone's rental portfolio.

Kernowgal · 09/09/2018 20:53

I'm planning to market mine in mid-October (which is when I bought it) and see if anyone's interested. If not I'll put it on in the spring.

AnalyticalChick · 10/09/2018 04:41

It depends where you are looking. There is currently oodles of unsold stock languishing on the market and getting stale in the south east and other southern places. You could move your search area to those places if you wanted to see lots of houses for sale.

Alexalee · 10/09/2018 07:14

Only problem with that analytical is the owners are not willing to sell for what they are worth... they are hung up on getting near the stupid valuation the agent put on their house a year ago in some cases

Berimbolo · 10/09/2018 08:53

Alexalee - completely agree with you. I'm SE and it's a nightmare.

DH and I need to move, but at the same time we're not prepared to pay the stupid prices. I don't fault sellers for wanting the best price, but at what point does reality hit. People would prefer to take their houses off the market here then sell for a lower price. There's houses on with 4 agents and they still don't sell so surely that would register?

I'm on rightmove constantly, registered with all the EAs (who are useless. We need garage and driveway so they send through houses with neither?!). Feels like it is a chore now. We go and view places within budget but they need a ton of work and sellers won't entertain negotiation on price. The worst ones are those selling deceased relatives properties.

I'm glad this thread exists as I know others (unfortunately) are in the same situation

Alexalee · 10/09/2018 09:00

Ah yes..
The people who would rather take it off the market than sell for a reasonable price are my favourites

Lilmisskittykat · 10/09/2018 09:01

I agree I'm happy to look at the stock that's been on the longest but problem is it's there for exactly the reason said... overpriced And needs works.

I've seen a fair few kite flyer houses too - where they make it clear they want that price or nothing cause they need you to fund their lovely new expensive new build whilst you buy their neglected over priced house ' or we just won't move'

I'm lucky im with parents at the moment rent free - so I'm happy to wait it out - but in the same respect I'm so frustrated that the market is so crap at the moment. With people just selling crap houses

This weekend for example:-
Worst shared drive Ive ever seen
House that had to have all curtains closed cause was at head of a junction
Weirdest unliveable layout
Pylon in the garden
Directly opposite a primary school
A drive for half a car

Thrn after that the prices 🙄
Urgh is all I can say

AnalyticalChick · 10/09/2018 09:29

The houses that do not sell usually have something wrong with them for the asking price. And usually the fault with the house is that the owners are stubbornly unrealistic about how much they think buyers can and will pay. It is like advertising your old ipad on ebay for £3,000, being unwilling to take less, and then complaining it is ebay's fault that it is not selling.

AnalyticalChick · 10/09/2018 09:35

But I think the problem for the OP, being a FTBer, is that she just does not have a sufficient budget to buy a property. More and more people are discovering that they are priced out of the housing market, first rung or later. Maybe it will take almost every buyer to be priced out before sellers will realise they are not going to get their asking price from priced out buyers.

peachypetite · 10/09/2018 19:47

Feeling very excited. A house we loved but was out our range has just dropped 25k and it's not even been on 2 weeks!

Bluntness100 · 10/09/2018 19:59

The houses that do not sell usually have something wrong with them for the asking price

Agree with this, I posted awhile ago about how an agent said to me basically you're looking at the houses no one else wants. Once a property has been languishing on the market for a certain period of time, it's hugely likely they are simply over priced. Viewing a couple of these properties would indicate in my experience that's correct. Unrealistic price, a seller who won't budge, and who blames the market or something else intangible.

Everything sells for the right price. Everything.

RangerLady · 10/09/2018 22:39

Thanks for the commiserstions! I too saw.some crap at the back end of last week. Overpriced crap. Met our buyer though and she is still super keen, phew. I have spied a couple of things on rightmove but one is really out of budget (plus no central heating!) And both probably need layout rejigs. I am just not sure whether to event to go and look after Fridays depressing viewings

househunthappening · 11/09/2018 06:40

One of the problems we've encountered a few times is houses being described as something they're not.

So for example, we recently viewed a house described as having 3 beds and 2 baths. What it actually comprises is 3 beds and 1 bath on the first floor, then a converted attic space housing a bathroom and a bedroom, but the doors are tiny hobbit doors and you are right up in the rafters - I'm short and they were chest level for me. There's no way you could get a bed up there and no way of improving the door configuration to fit a full sized opening there.

So what they are actually selling is a 3 bed 1 bath property but they want the price of a 4 bed 2 bath property. Definitely a property misdescriptions breach on behalf of the EA.

We'd be interested if they lowered the price to reflect it as a 3 bed 1 bath because we'd extend it to make it big enough for us, but it would be financial suicide to pay what they want for it.

househunthappening · 11/09/2018 06:41

Sorry, second paragraph should read 4 bed 2 bath.

Original poster
Lolly567 · 11/09/2018 07:22

We made an offer yesterday for one that’s just come onto the market! £6000 under asking (about 2%) but it was rejected.. can only go up £1000 more as it’s at the very very very top of our budget so fingers crossed. It’s a lovely well looked after 3 bed period terrace with good quality fittings but scope to put our own stamp on (I did want a doer upper originally but realistically we don’t have the funds for a project) but its asking price is a quite high for its street based on recently sold prices, but not high for its street based on currently ‘under offer’ (with an extra bedroom) prices. I know we don’t know how much these under offer actually sold for, but they were impeccably presented and sold very quickly so I’m assuming near to asking price. My thinking is that if we get accepted and it turns out we have overpaid then if the valuation comes back low we just walk away, or hope that the vendors may be willing to reduce. I still keep checking Rightmove but nothing comparible is coming onto market and we just are just desperate to move. So will see if our slightly higher offer gets accepted. I was so focused on getting a bargain, like one that had rubbish photos that no one else offered on, that I see when comparing Rightmove prices, but I don’t think it’s gking to happen for us and we need to move for our sanity!

You’re all completely right about stubborn sellers- that’s my experience too. Tbh I think I’d rather not buy from them anyway as they’re the ones who are likely to turn around just before exchange and say ‘actually, I’d rather not move, we’re going to stay put thank you!’

OP posts:
MargaretDribble · 11/09/2018 07:31

Our local market is flooded with overpriced new builds, but it is making older properties look like very good value. Prices are going up, not down because of the new builds.

Alexalee · 11/09/2018 07:37

Closest new build site to us had just reduced all 4 beds by 100k to get them under the 600k max for htb. The sales office has only been open 2 weeks