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Original poster

Housing market is dead at this moment?

70 replies

rabbitcarrot · 09/12/2019 20:30

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..

OP posts:

BentNeckLady · 10/12/2019 07:42

3 houses have sold on my street one the last month or so. One of my them was on the market for a couple of years a while ago and was taken off for a year, put back on and sold within days. Loads of Sold signs around locally.

I’m in the Black Country.

RhinoskinhaveI · 10/12/2019 11:02

I agree there's a bit of a standoff situation at the moment

Hester54 · 10/12/2019 11:18

Not gloating, but our house sold in two days on the market, the EA wanted to put it on for £25,000 above local sold prices, we said no, put it on for the same price as the houses sold price two doors away, told the EA not to pass on any offers below that price, had full price in two days, we were happy with the price we received.

ChasingRainbows19 · 10/12/2019 11:22

North west ( greater Manchester) previously houses sold very quickly round these parts. We got ours 3/4 days after going on the market. However not much is selling around here atm. The cheaper terraces are further away. It's a nice area though maybe I think prices may have gone a tad too high and people are cautious with our policies climate.

Roselilly36 · 10/12/2019 11:33

Get the GE & Brexit over, and the property market will move again, could rise or dip depending who’s in power. Traditionally a quiet time of the year for selling property in any case, added to by the economic uncertainty. I live on the south coast, property market is stagnant in my area. We are considering a move next year so I hope it picks up too.

Arnoldthecat · 10/12/2019 11:34

If you look at manchester, then just look at home many flats they are throwing up in and around the city centre. I firmly believe a lot of these are actually left empty by choice or no one has rented them. Where are the people coming from who move into them? Where did they live before? In big Cities outside London are we reaching the point where there is a reasonable supply of housing? If so where does that leave sellers? They may find that they become mortgage prisoners/cant move/have to take a loss to move?

BettyJean · 10/12/2019 12:53

@Arnoldthecat

Which is exactly why we sold our city centre flat and moved in to renting (our forward purchase of a house fell through). We could see 100s of flats going up around us and thought, if we don’t sell now, we could end up in the same situation that many people found themselves in during 2008-12.

I personally think the city centre is saturated with flats (I don’t know who lives in them all either) but there isn’t enough supply in the sought after suburbs - where people move once they have kids.

The city centre is great for young people but there is no infrastructure (doctor surgeries, schools) once those people have children.

BettyJean · 10/12/2019 12:55

@Arnoldthecat

The estate agent who sold our city centre flat said that a lot of the new builds were being bought by foreign buyers from the ME, China, Russia. They have no interest in renting them out, they just want to store their money somewhere safe.

RhinoskinhaveI · 10/12/2019 13:22

I have friends looking to rent in Liverpool city centre and they report a surplus of flats available

RhinoskinhaveI · 10/12/2019 13:24

I think we need sanctions to impose on people who intentionally leave residential premises empty, this is a practice which is destructive to our housing market and (by extension) destructive to family life

norfolkforever · 10/12/2019 14:00

well there`ll be our house for sale feb 1/2 term in the midlands.....

BettyJean · 10/12/2019 14:05

@RhinoskinhaveI

I agree.

BettyJean · 10/12/2019 14:08

@RhinoskinhaveI

Surplus of flats in central Manchester too.

We sold our flat in central Manchester and rent in Alti (where we want to buy). We thought renting would be more competitive than it actually was, we were told that the landlords would take an offer on everything we viewed.

jimmyjammy001 · 10/12/2019 14:57

Trouble is no one needs to sell so won't, houses are generally overpriced so sellers will just hold out for someone to pay their demands, just need an interest rate rise and prices will soon correct

Queenonfleek · 10/12/2019 15:04

interesting as I just bought and sold in Didsbury Manchester- I had several over asking price offers for my house on first day on market and the houses I looked at went for at least asking price .. so my own experience is that market still seems good .. but it might just be for a specific type of property as I do see a huge number of flats on the market

Wheresthebiffer2 · 10/12/2019 15:07

December is always slow - nobody wants strangers viewing their house, while they have their tree up and presents visible.

Lookingsparkly · 10/12/2019 23:24

We have sold but have nowhere to buy. It will be a rental for us.

Crazypanda85 · 10/12/2019 23:28

Also in Midlands. We have had our house on the market for 3 months and lots of viewings but no buyer. Unfortunately think it is just the time of year plus various political factors.
Not panicking though as there isn't even one house we have seen that we like either..just hoping come Spring things start moving along a bit!

SexlessBoulderBelly · 11/12/2019 00:45

Wondering if you’re living in a similar place to me.

Absolutely nada on rightmove, just too far gone, dirty damp old derelict houses in unfavourable areas with no parking and grubby looking.

I’m always in the look out, not that we’re planning on selling and buying yet 🤔

SexlessBoulderBelly · 11/12/2019 00:49

Have you emailed potential estate agents?

We are one of those that brought our house before the for sale sign went up because we emailed a List/description of what we were looking for and they got in contact with other any houses that came up before they had someone out to take pictures and put up for sale signs.

If you’re one of the first to know you’re one of the first to offer!

Spotsbeforemyeyes · 11/12/2019 00:58

We are cash buyers looking for a decent 3 bed in West mids. Put an offer in on 4 so far, last one couple of weeks ago went for 27k over asking price 😲

Looking to sell our 5 bed detached in the new year too if anyone wants it.

SexlessBoulderBelly · 11/12/2019 00:59

@spotsbeforemyeyes

I can offer you a whopping £140k for your 5bed?

Spotsbeforemyeyes · 11/12/2019 01:04

SexlessBoulderBelly. Done. I'll get the papers drawn up. 👍

Skinnychip · 11/12/2019 07:32

I'm in the south east and in our town there are just the same old same old houses that are overpriced, reduced and then listed with another agent or a new development of stupidly very expensive houses and flats luxury apartments. Not much movement at all.

BettyJean · 11/12/2019 09:54

So, other than in a couple of pockets of activity, the housing market appears to be frozen. Let’s hope it shifts if we get more stability next year.

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