Broken market ftb bristol

[3asAbird]

Looked at 30 houses over 3months

1 offer accepted seller pulled out 6 weeks later

2 offers made on over priced properties that needed work and been on for a while.
2 offers rejected..

Im so fed up.

Started looking july

Right move is full same old houses and some reductions.

Not much new to market at all.

Seen some dumps.
I dont mind doer upper if factored into price.

Is the market correcting or collapsing

Should we give up until spring.

Thourght 1st time buyer as rare as unicorn poo.

We not looking for anything special just a 3 bed. Garden parking a bonus

Looked at main rds
Ex council
Terraces
Houses that need work.

Make matters worse husband oncevowned with ex past century so have to factor in stamp duty.

Agents can be bothered to do floor plans good pics price realistically and turn up late.

Sellers can't be arsed to clean or tidy and present their home or budge on price.

Each offer has factored in recent selling prices that rd or area and work that needs doing.
Ae well as our no chain fast position to move.

We have large deposit
Mortgage agreed subject valuation /survey

Where I am looking, within 5 miles of north Bristol, on average still about 50 properties every day come on to the market. Sure, about 90% of them overpriced, but the 2 beds are getting more realistic. As I mentioned before, 2 beds sustain the bottom of the market, so when their prices fall, everything else will follow.

www.rightmove.co.uk/property-for-sale/property-67453225.html

Tenapenny. Not sure what your budget is freind says stokes still seems busy.
Always thourght they be pricier with being closer to train stations.

www.rightmove.co.uk/property-for-sale/property-67904137.html

Seems more reasonable than bs16 so maybe its specific areas bristol stagnating.

Sadly houses in wales will go up once toll goes although having lived in Newport its not somewhere i yearn to live.
My dad has a lovely house there and paid crazy low price of 215 woukd be 450k in bristol.

I do wonder how long a property has to be on the market before they realise its valued wrong.
Guess many not in rush to move.

I think everyone is waiting to see what happens post Brexshit. I’m in Bristol too and nothing seems to be for sale where I am. Luckily we aren’t trying to move at the moment.

Not Bristol but all the same houses on the market here, reductions and then languishing for months

House up the road went on 4 months ago, reduction after two months and then they pulled it from the market. Week later it went back on the market with more upmarket agent and an extra 20k on top of the orginal asking price

It’s still for sale obviously

I am looking between 200 to 250k. The three Stokes (Bradley, Little, Gifford) are a bit mixed bags. A lot of them are too close to M4 or the railway, the noise can be overwhelming, if not deafening. Also I generally avoid houses built in 80s and 90s. They are the worst; really small bedrooms and low quality material. That was the time when building standards were practically scraped and didn't get reinstated until 2003. After 2003, regulation applied to noise insulation, room sizes etc

The market is busy where 2 beds have dropped close to 210k (used to be 230k) and 3 beds dropped to 250k (used to be 275k). They do get sold quickly, because typical buyers of those houses would have a joint annual income of 40k to 50k. They can just about afford those prices. If you have lower income than that, I am sorry, the market never (neither the government) cares for poorer people. Never did, never will.

Have you looked further across Bristol (like south)?

When I bought my place, i didn't see anything else I liked and just jumped on it and it came through. Didn't see anything else I liked for ages. Not useful advice though!

I am looking at Bristol South because my work is in the North. Also my personal view is that there is a huge price bubble in Bristol South even by Bristol standard. Ex-council houses surrounded by druggies are asking for £250k. Again my view is in those areas, BTL landlords pushed up house price, because the rental income. And with landlords leaving the market due to tax change, these areas will be correct to reflect the low wages people earn in there.

Sorry, I am NOT looking at Bristol South...

Haven’t read all the replies OP but I don’t think you will have to pay extra stamp duty. Provided the house you are buying will be the only one your DH now owns (or part owns), and he will be living in it, then the 3% surcharge will not apply

I would agree with tenapenny that the more desirable parts of South Bristol are no longer significantly cheaper than many areas in the North. Redevelopments in the area around Temple Meads could mean that this may be sustained in future.
However there is a drugs culture in the city that goes beyond the stereotype that she has given. As house buyers/sellers it's something to be aware of but it definitely isn't confined to one area/type of person.

Agree catslife, the drugs problem is not confined to south Bristol. Perhaps a different type of drugs problem in north Bristol (ie. students), but very much still there!