Is the housing market dead at the moment?

[firefirefire]

Hi all,

We have our main house and also a rental property on the market at the moment.

Neither are on for an inflated price, but are reasonable

We just aren't getting anyone even come to look round, let alone any offers!

We are relocating and have noticed that in the areas we are looking at, properties are constantly being reduced on Rightmove and just hanging around.

Is this due to Brexit/time of year etc?

@LittlePickleHead do you mind me asking roughly which part of SE London you have sold in?

We are in SE London too and priced ours keenly and the first people that saw it made an offer.

Nearly 3 weeks in and things seem to be moving along (slowly) but I live in fear that they will pull out..probably irrationally, but we are trying to buy our forever home nearby and I really don't want to lose it!

@DavetheCat2001 I'll PM you

The market's moving very quickly here. West Yorkshire.

Market in Glasgow moving pretty briskly.

In a lawyer working for developers and it is really quiet on the sales front.

I can see why though prices are/ were absolutely ludicrous and I think lots of people have got stuck in their current property.- the jump up is just so huge its unaffordable which then means the market grinds to a halt.

Also factor in the fear factor.for people. If I was a FTB there is absolutely NO way I would buy now. I would just bide my time and wait a bit.

Finally some asking prices are still ridiculous and unrealistic. (Especially new builds). Unfortunately lots of clients are refinancing them and renting them out on AST.

I think the rental market is actually insulating the sales market from bigger falls. Sellers often have an unrealistic view of what the house is worth and won't go below a certain threshold. So instead of slashing the price they rent it out.

I sold within a week (am at bottom end of market in desirable village) but am going into rented because there's nothing coming on. What is on is overpriced or not suitable, and lots of places are being reduced. The good stuff goes within days, though.

Agh this is all just as I feared. We're in south-west Herts (prime commuter belt) and just cannot sell our lovely cottage, which we bought in a bidding war within 48 hours 4 years ago! We love it, but now have 2 kids and it's a tight squeeze. No possibility to extend either. Desperate to move but there's sod all family houses coming on. Saw a beaut on Saturday and it was sold on Monday! Hen's teeth!

My brother is a FTB in Altrincham, and properties are flying off the shelves, always over the asking price.

A couple of overpriced ones have sat on the market here for literally years - even before market cooling (These are all £2m+) rest have sold swiftly if appropriatly priced. SE semi-rural family area with v good education, transport to city and where people tend to settle for duration of kids education - so 15years+.

My neighbours house sold in 4 days.

East Midlands.

I'm in NE & house been up for 10 days. Not overpriced, on a desirable estate, nice house, EA claiming they haven't had issues with brexit, over 800 rightmove viewings within the first week. One viewing arranged - viewers cancelled 45 mins before viewing as they'd had an offer accepted on a house they were after. 😡

Anyone selling/sold near Bromley recently?