Anyone else frustrated with the housing market?

[Neron]

Desperate to move and just not much on to buy at all or those that are on, are not suitable. I just want to buy a house...I know it's first world problems. Last purchase fell apart at exchange and we've been struggling since

YES! Me too. just posted about it as well. I am pretty sure that people are waiting to see what happens as several people have told me that their neighbour/friend/family is thinking of selling but waiting to see what happens with Brexit first...

Yes definitely agree, we've heard similar. There's so much uncertainty right now.
DH and I wonder about the potential SDLT change, but it's not stopping us as who can really trust the government, and we have the money set aside for it so makes no odds although to save it would be great. We just really want to move.

As you can see form my name, I'm also struggling. This whole process has destroyed the remnants of my faith in the human nature and has strained my mental health.

For some reason house buying/selling really seems to bring out the worst in some people.

I really get frustrated with the process in this country. Make offers legally binding and with completion date set, put up good will deposit, set out a timetable from the start (x amount of days for survey, x amount of days for mortgage approval etc). Get outs for crap survey or failure to secure financing, otherwise you pull out you lose deposit or if seller they pay equivalent.

@Pipandmum that is exactly what I've been saying. Shame the politicians are too stupid to ever tackle this. I suppose childish televised squabbles and blaming the EU for everything is way more fun!

Why so many other countries manage to organise a sensible system and ours is such a massive pain in the arse.

I speak as a partner in a small firm of estate agents.

I frequently feel incredibly frustrated with the behaviour of many of my competitors, some very non-committal and disingenuous vendors, and some buyers who are at best economical with the truth.

There was a time I was excited to be out viewing houses, now the thought fills me with despair

I agree also that it should be more regulated. It's a harsh, stressful, expensive process. Other countries manage quite well with how they do it

Buying a house in uk is a very stressful process, you need develop a strong heart do deal with all sorts of lies, delays, falling through etc. You will come through the most ugly human nature, the greedy vendors, the dodgy &cheating agent, low efficiency of lender, solicitor..

I also noticed many houses which have been STC in last couple of months back on market again recently. As a buyer, it's very hard to tell which house has been really sold, which one is just a trick.

Yep! Just seeing the same 10 houses appear and reappear for the past two months. They either don't sell and change agent and list at the same price or go STC and then reappear for sale a few weeks later.

Add me to the list.

Put my house on the market this year, had two buyers pull out (not for reasons to do with the house). Viewings just trickled to nothing as people are playing wait and see, both buying and selling. I live in a classic downsizer property, and similar properties have come on the market and not sold (I was one of the first, I can think of 8 now within 5 minutes walk none who have even gone SSTC and come off again).

I took my house off the market last week and will try again in the Spring when hopefully things might pick up again. Who knows. Very deflated by it all.

Just seeing the same 10 houses appear and reappear for the past two months. They either don't sell and change agent and list at the same price hmm or go STC and then reappear for sale a few weeks later.

yes this exactly!

Also noticing more sales seem to be falling through lately, and houses on with multiple estate agents - one is on with all 6 local EAs!

And me.

Managed to sell last December. House had been on the market earlier in the year but taken off in August. Cash buyer offered 10% below my original asking price for a fast completion. I decided to accept.

I then bought a temporary, tiny, but should be easy to sell, bolt hole, hoping that the right house would come along this year.

No such luck. All that seems to be coming to market is either in very poor condition, not in an attractive location, or massively overpriced. Those that are attractive are just sitting there. Largely I suspect, because they have been overvalued and Sellers are nervous about taking a price reduction when there is very little available for them to buy.

I currently only have 5 properties I am watching on Rightmove. Three years ago it was 100 +.

I have no idea whether a solution to the Brexit issue will free up the market, but there must be an enormous level of demand building and just waiting for this scenario to resolve.

Yes very!! We sold last Nov and have been fairly comfortable in rented ever since, but want a house of our own. It’s expensive round here, but now it’s gone ridiculous!!
No I don’t want to pay 700k for your shithole that I’ve then got to rip out your 1980s kitchen, bathroom and bloody horrible artex ceilings
Houses are priced stupidly high and just sit there, when this used to be a very fast moving area.

I'm buying (cash buyer), it's freehold and unoccupied so both parties completely chain free, I haven't even had a survey done in order to speed up the process... my offer was accepted at the beginning of August and there's still no sign of an exchange and completion date in site.

I'm convinced solicitors just deliberately drag everything out for no reason other than to try and make the whole process look more complicated and involved than it really is in order to try and justify their fees.

There are so many houses that we feel are overpriced. Most don't reduce and will take off the market rather than lower the price, or you might get a few that do a couple of % reduction. Best one is when they change the fixed price to a guide price, so that it shows as a reduction when in reality the vendor still wants the same higher price, it's just a tactic used by the EAs. Don't get me wrong it's up to the vendor if that's what they want, it's their house, just people are obviously not paying what they want.

@Neron yeah. I've recently viewed a semi overpriced by at least £75k, the identical semi next door was sold a few months ago for £120k less than the initial asking price of this one. This one has a slightly bigger garden, is in a worse state and has a less attractive layout. When I asked the agent to justify the crazy price difference, she said "the sellers initially wanted to pride it even higher." then "my colleague who valued it has 30 years of experience in the business". It's not selling, they keep deleting the add and adding it to make it look new. 'Delusional' would be a severe understatement.

I'm convinced solicitors just deliberately drag everything out for no reason other than to try and make the whole process look more complicated and involved than it really is in order to try and justify their fees

I can assure you that is not the case.

Fees for property conveyancing are incredibly low, given the work that is involved, and when compared to other aspects of legal work.

they keep deleting the add and adding it to make it look new

Thankfully you can't do that on Rightmove anymore.

@housebuyingistheworst oh dear! We viewed one recently, been on for 3 months. Originally up for 425, now guide price 400 - 425. It hadn't been touched since the 60s so needs new kitchen, bathroom, rewiring, decorating, got a few blown windows etc. She's received offers for under 400 due to the work needed. We would be happy to do the work, and wouldn't need to move again so offered 380, then 400 but no more. She refused as her house is worth more than 425 in her opinion. She keeps however calling the EA, who in turn keeps calling us to see if we have changed our mind about offering higher a third time around as she likes our FTB position and that it would work well for her...

@Mildura they're doing this on Zoopla, so I assume they also manege to delete and re-add on Rightmove. They make it "expired" and then they put it back on.

*manage

They seem to re-add on Rightmove by dropping the price by a fiver, then it comes up new as 'reduced'.

Nothing worth looking at is for sale in the area I want and it hasn't been for months.