Housing market is dead at this moment?

[rabbitcarrot]

It seems for over several months there is no any house added into rightmove, some old,ugly & crap, overpriced house sit there for ages and never move.

Is it just in my area (Midlands)? Economic and political uncertainties may cause the issue for slowly moving market. Will it get better next spring or still the same?

So stressed for house hunting..

I get new house emails still from an agent and they have trickled to a halt. Maybe a re-listing if something that has fallen through, the rare new one.

Very slow

How quickly do you need to move?

We’re in south Manchester and there isn’t much going on the market up here either. Will keep looking but realistically we’ve resigned ourselves to renting until at least the political turmoil is over, probably until Spring.

We sold a flat earlier this year and the house we were supposed to be buying fell through. We thought that we would be more attractive as no chain buyers hence renting.

Oh and I agree re the relistings. As well as the houses that are in bad condition sticking for ages - quite often probate or ex rentals that haven’t been looked after. Problem is, prices don’t reflect their condition and the amount of work that they need.

I'm on the London/Surrey border and have found the same. We put our house on the market last year and "sold" it quickly, but couldn't find anything to buy, so lost our chain. We've been keeping an eye ever since and there's hardly anything decent on the market, just the same few flawed/ overpriced houses that have been on for months and months.

Same as what @eurochick said. Sold last year, took off the market due to poor housing options. Nothing is coming on the market. I'm in London

It’s like a standoff.

Buyers aren’t biting at what’s out there and sellers aren’t selling because of the political turmoil.

I think once (if) our political situation is resolved in December / January then things should pick up in the Spring, as it’s traditionally a time for house moving. No matter what the political situation, people can only put their lives on hold for so long.

Maybe wishful thinking on my part...

@BettyJean Do you mind saying where you are looking Betty? I'm watching the Didsbury market and feel the same as you......

I’m in NI and I’ve noticed this. I was looking at buying in January/feb and then stopped. Have looked again this week and there are so many of the same houses still up even with reduced prices. Not shifting. Mum and dad’s has been up for two years! (There’s is a Specific type though so needs a certain type of buyer)

I listed, had 6 viewings and sold for a fair price within 2 weeks. I think all the estate agents are waiting for the traditional January boost- but it's an odd market at the moment where we are. Very little for sale of a family home size (3 bed semi detached) which isn't horribly overpriced. We found a house we wanted so priced to sell.

@ncncncncn

I’m looking in Altrincham.

Btw the rental market is very much the same here too.

It's the other way round here (large town, Mids) - quite a good choice of houses coming on the market, daily really, but not enough buyers! I could easily buy even if noting is perfect, but can't sell quickly. About 5 viewings in two months, possibly agent overvalued a bit but open to some negotiating, but I've been watching the market and it's def supply over demand.
What sells is when a vndor is mad rush and has a good house, i/e. can sell for a bargain price for the quality (not many like that obvs).
Very frusrtrating - I hope some of the buyers aer waiting for the election results to be able to know how their finances will be affected.

I’m in outer London and in my area it’s quite interesting. Poor/overpriced houses sit on the market, decent houses move quickly but the large detached houses near the top end of the market are quite mad with sealed bids/bidding wars.

@cat

I’m kind of in that boat. I’m keeping an eye on Rightmove, in case anything amazing comes up, but we are half waiting for the election results as well.

I started to do house hunting from April this year, it's like a endless nightmare..Occasionally one decent house appeared, before you call the agent & book a viewing, it's gone..

It's just like a competition for how quick your reaction to the slightly nice house with reasonable price.

Another annoying thing is if the nice house appeared, the agent also play some dodgy trick in the middle of bidding, raise the price for their benefit..

OP, it looks like you would like that amazing deal of a great house for a very reasonable price. They’re rare and you need to get very lucky. Have you considered getting a fixer upper to do up to your standard?

Where abouts in the Midlands? I'm in the west, it seems pretty fast moving here! Most things aren't making it to Rightmove.

@IWorkAtTheCheesecakeFactory

Yes I don’t know where people are living!

South Manchester is the same. Up until about 12 months ago both the sales and rental markets were really competitive. I thought we’d have to be competitive when we started to rent but every agent we viewed through told us that the landlord would take an offer.

We are renting unfurnished, so at least we aren’t paying for storage. That said, it doesn’t feel like home and I would like to buy somewhere that is a long term home for DD.

I’ve worked in property for —too long— a while and December has always been quiet for sales.
January tends to be our busiest month for the whole year.
Area is always dependent, I work for a national agent and good stock will come on and still fly out - things go through stages and currently it’s terraced properties in towns around Manchester- so Oldham/Rochdale/Wigan that will go in a day, often unseen and above asking price.
Family homes in the north east can sit on the market even at bargain basement prices.

You spot a lot of trends but December is always a naff month for buying/selling as I think people just reach a “fuck it well sort it in the new year.”
Solicitors and most agents closing their doors from 24th-2nd jan doesn’t help motivation either

@lastqueen

Is it landlords buying up those terraces in Oldham/ Rochdale / Wigan?

Same here, also Midlands. Anything decent sells within a week, but they are coming on the market every few months. The rest is either old people's houses or overpriced rubbish. For a number of reasons we aren't able to take on too much renovation work atm so we're just sitting tight.

And when I say overpriced rubbish, there are three 1970s 4 bed detached houses for sale in the town atm, none shifting. The first went on the market in May / June time priced at £75000 more money than a similar house opposite sold for in March of this year (house opposite was newly renovated to a better standard and had a better garden, but very slightly smaller). At the time it was the only 4 bed detached of it's type up for sale, so I guess the agents decided to push their luck. Since then two others of the same type (one on the same estate and one elsewhere, but in an area with similar pricing) have priced themselves at the same ridiculous price. The houses are perfectly decent, bit aren't selling because some people have gotten greedy and think low supply automatically means high demand!

We've been actively looking in Warrington and surrounding areas since around April this year and houses are still being listed for sale and selling well.

Around early summer the market was crazy, houses were being listed and sold overnight. This seems to have slowed down since October, but they are selling.

yep Betty that's what I thought - landlords. Even in our slow market rentals near the uni sell. But not the flats - market flooded with them asI think many landlords don't wantto pay service charges since taxing is higher now.

@CatAndHisKit

I read somewhere that landlords weren’t buying as much in London, high purchase prices mean yield is low. I’m wondering if the yield on terraces in Rochdale / Wigan / Oldham is better - the purchase price in those areas of Manchester is certainly lower than the prices in the south and west of the city.

Cornwall - Same!
Estate agent said that no one wants a doer upper anymore too. We sold in two weeks, but we were well priced and done.

Houses that aren’t selling are either overpriced, need a lot of work or both!