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..

In this part of Central Scotland, the market is really fast moving.

I’m not even looking for anything special. 3 bed end terrace or semi with room to extend into the attic or cellar, later on, if we need to.

I don’t mind a doer upper either. The problem is, the doer uppers are not much less than the already done up ones. They are sitting on the market for ages - I’m assuming a lot of these are probate or ex rental and there is no urgency to sell.

*@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.*
This is exactly what is happening in city centres all over the UK. Foreign investors with excess cash that they need to park, are using the UK as a capital park by putting their flat money into infrastructure (tangible assets). It is absolutely incredible but the UK taxpayer is also helping them as many of these developers are being gifted grants to develop ! This is madness. Why are we not developing ourselves, for our people instead of allowing UK land space to be used as capital parks for foreign money ,some of which might be a bit dodgy ? At the same time, our people often cant afford to buy a home due to inflated prices. Its very true that a lot of these new flats are remaining empty and the core owners dont care. They have exchanged their flat money for tangible assets and thats all that matters when the big crash comes.

@Arnoldthecat

The whole system needs to be looked at more closely. Not going to happen when MPs of all stripes are buy to let landlord.

Another looking to buy in the north west and market seems to be slow! Getting super impatient now but hoping it picks back up in January?

East Mids here and yes the overpriced ones with work needed stick around. Anything nice disappears immediately even priced high. Realistically priced ones don't even make it to rightmove. The only new ones coming on seem to be probate!

We sold ours first day of viewings without it getting listed on rm. Priced realistically. We purchased same way. Recommend getting cosy with all the agents in your area, ring them weekly. If you need to sell, price realistically and do an open house / pre qualified pre sale day.

If what you're trying to sell is out of ftb range you will struggle more to find a buyer for definite.

We sold/ brought late 2017 / early 2018. We managed to sell ours quite quickly at the end of the November, but then the market pretty much dried up until the March/April time. The house we bought had actually been on the market since the August, but as it had ticked none of our boxes it hadn't come up in any of our searches - it was only when we totally changed our search criteria that we found it.

I know I am talking about a couple of years ago, but there is always a natural dip at this time of year, but this year it is compounded by the Brexit/Election uncertainty.

UK housing market put on hold by the election

trying to post a link from the DM that my friend sent me but it’s not working. The article is on the front page of the DM website.

Here in Scotland houses are selling, in my area they’re going in a week, good steady increase and good value, I feel sorry for house hunters in the South, ridiculously over priced houses.

Wonder if it will start to pick up after Christmas?

Hi OP, hope I'm not too late to post!
Our London market is just as bad, and I found out house but courting all of the local estate agents. They only put stuff on Right Move when they really have to, so much better to get in touch with them, tell them what you want, go in and see them to introduce yourself and then ring them every week. It's exhausting, but the only way you will know if something is going to come on the market.
The people we are buying from are moving abroad which is why they are selling now, other than that, yy to Christmas and election, things should hopefully start moving in the New Year.

I can understand why do-er uppers aren't too attractive, when its so hard to find decent tradespeople. There's so much building work going on near us that there's a long wait for anyone.

Edinburgh isn't stagnant at all. Sales and rentals moving fast and it's no exactly cheap either.

I’m London/Kent border and have found the same thing. Met with an estate agent last week to get our house valued and he was optimistic the market will pick up in January now that that conservatives won the election.

We were thinking of going on the market this summer but nothing was shifting. I’m expecting a bit of an uptick after January’s Brexit deadline now. We would have moved summer 2020 if things get going after Xmas but just found out this month we’re pregnant so looking more like Summer 2021 once we’re both back at work.

Fingers crossed there’s more on offer by the time we do come to take the plunge... things around our way (Zone 4 South London) are selling with v chunky reductions but there’s so little on the market where we’re looking (further out towards Surrey)

Our EA just called to say he'd sold 3 London flats since the election- he claims stability after GE is getting people moving again. Fingers crossed!

cardiff I wonder if today’s hints of a no deal Brexit will change that tho. Such uncertainty is v unsettling. 🥴

We've had our eye on two houses locally, both been on the market since summer. Both sold this week

We've had quite a few sell on our street in the past couple of months. We had ours up for sale about 4 months ago and sold before it went on RM. The EA arranged viewings straight away and we had two offers on the first day. We couldn't find anything to move to, so had to pull out as we are not willing to go into rented. But what we did find was mostly through chasing the EA as we viewed quite a few that didn't end up online, abit like ours. They said they advised they had so many buyers at our level they didn't have enough properties coming on.

Worth a try as I'd not realised this before, I'd just search though RM until something I liked came up. We are in the SE.