Will the property market pick up soon?

[Livingoffcoffee]

After months on the market, we've finally gotten a (great) offer on our house. While we were on the market we saw 3 properties that would've been perfect for us, but they went before we could sell ours. Now that we've sold there's sod all on the market in the area!

So frustrating! What do we think? Will more people go on the market soon? As we get to spring? After the new budget in March?

How many months did it take you to get an offer? I have a property on the market now and its been on since beg Nov. Its very frustrating so I feel you! I gave it time due to brexit and Christmas/election etc but surely by now the market should begin to pick up?

I think it’s picking up. Our house went in the market yesterday and we had five viewings and two offers today (in the midlands). Think spring definitely brings people out of the woodwork to buy. Good luck!

@MimiLaRue We went up in October and got a few people interested but offering really low, so we took it down in December and back up second week of Jan. It started slow again, but by mid-Feb we had someone offer over asking!

I thought selling ours was going to be the painful part...but somehow this is more stressful!

@Readysetcake We have a buyer..we just need somewhere worth buying!

but by mid-Feb we had someone offer over asking

THANK YOU! this encourages me a bit. The house is immaculate and in a really nice area, and is priced realistically. Im getting a bit disheartened by the lack of interest. Ive had a few viewings and noone is even giving consistent feedback (eg they've all said different things) so there's no one thing I can try to "fix" as it were.

I get why buying is more stressful- because you have to love the house you buy otherwise its not worth the hassle. You have to find a place you can imagine living in- that can take time. Good luck!

We are about to go up for sale. The advice is always to go on the market in time for the Easter holiday so that's what we'll be doing. You may find a lot of people are doing the same.

We were on the market late May-Nov and got two offers at the end, resulting in us accepting mid Nov... then last week, our chain fell apart and we had to go back on the market.

The change is insane, we've had 5 viewings in 3 days and two offers. So yeah. I'd say things are moving again, certainly in the West Mids where I am. Fingers crossed something ideal for you comes up soon.

The prime time for selling is April to September, people hold out as they want their gardens looking nice, properties look better in the sunshine. There'll be more coming..

@MimiLaRue Honestly I was getting so disheartened by it all. We were ready to take £10k under asking cause I thought that's the best we were going to get. But our agent kept saying "it's just about getting the right person through the door". Ended up getting £3k over asking.

I'm a property lawyer. Last year was quiet, but since the beginning of January, we are crazy. The amount of new instructions we have is phenomenal

We had ours on the market from October to the end of January without one viewing. It's a desirable village, we marketed at £550k and another house over the road sold last June for £540k after being marketed at £580k - we have a much bigger plot than that one. So we don't think it was price related.

We're now going to wait until the beginning of April and then put on with another agent. Sadly the reason why we decided to move was a barn conversion that has since sold It's a very frustrating process.

There are lots areas in the UK with completely differing markets. If at all possible, please could posters give a rough indication of which area they live and their price range? Sounds like the midlands have picked up!

Good point @Didyousaysomethingdarling
I'm in the south east - Essex. Looking for a 4 bed in the £550k range.

We are picking up in Cornwall. Lots coming on the market compared to before Xmas.

Is it worth a letter drop if you know where you want to move to. It’s what I ended up doing!

I'm Yorkshire been on since august ( wrong time but we went on for a particular house in the area which sold few weeks later but that had been on a few months already ) - lots of viewers at first , then absolutely nothing, picked up January then not much.
I was going to take off but kept it on. Will change agents in spring with new photos and bump on RM/Zoopla.
Ours is a classed as a downsize (bungalow) but on a big plot. Fully renovated. Needs a gardener ( I'm no green fingers but its a gardeners paradise with 5 gardens ) so I expected it to take a while. I'm priced not much above doer uppers ( they are over priced ) so I feel it's competitive plus I've the plot size. I think spring when my houses best feature is blooming I'll have more interest but that could just be positive thinking on my part !
I've had no bad feedback at all, either non proceed able or garden to big. I can't help either so just hanging on.. good luck everyone else for a sale !
I'm only moving as I need less outside more inside as kids growing up and no need for the gardens anymore.
In my defence nothing much is shifting, I have been watching. Some have actually come off after a yr. One we liked came off yesterday since being on from feb 19

You can check here: www.theadvisory.co.uk/propcast/
if your property market is hot or cold. Lots of great advice here- just put in your postcode and it will tell you if its currently a buyers market or a sellers market.

Just want to say good luck everyone! Its a horrible stressful time and I hope we can all hang in there and be patient and find the right home, as well as good vibes for selling quickly!

@ posterMimiLaRue Great link. Thank you. My area in Bucks is 30% and warming up!

Just thought about this thread...Hope everyone's doing okay with your house sale in this weird situation we're in!

We've basically gotten as far as we can with the paperwork, but it's all gone on hold with getting mortgages approved. Our buyers are still wanting to progress at least...that was my biggest worry

www.bloomberg.com/news/articles/2020-04-01/u-k-lenders-confront-biggest-mortgage-test-since-2008-crash

A good article released to day by experts on what is happening and what is likely to happen