Are houses going up for sale near you?

[Fairymaryprincess]

Just tgta really we are wanting to move but reluctant as there are barely any houses up for sale near here and the ones that are up are up for a lot more than 6 months ago, both of us are in safe jobs but I keep seeing houses are going up and flying by at 20%over asking price???

[imnotimportant]

Quite a few have come on the market in the area we are looking at , funnily it's the 500-1200 price band that's selling well rather than the 500 and below that you would have expected

[Mulledmead]

It depends where you are I imagine. Here, I am having to sell due to separation. My house sold fairly quickly (not a first time buyer-type house). I am now looking for a smaller property and am really struggling to find an onward property. some stuff isn't even getting to market before it sells, other things sell quickly once on, and I am finding/thinking agents are inflating prices because demand seems to be so high. It's really demoralising. 6 months ago my budget would've got me loads more property than I am looking at now.
If you don't have to move I would leave it a while until things calm down a bit.

[Fairymaryprincess]

@notsuchamarriedonenow1 I'm not worried about ours but more the case that if we sell, there's very few going up for sale anyway and those are all going to final bids quite quickly so know idea where to aim at etc and the next stage of housing is definitely going up at a higher rate than what we're currently at here I think, I also don't think it will just be those sectors that receive job losses, lots of businesses stayed open throughout lock down just with skeleton staff, those businesses will definitely be thinking of saving money by cutting staff, if they can survive with less staff they will carry on with less in the future.

[JoJoSM2]

Docoyu need to move very soon or could you wait for the market to calm down a bit?
My area is a bit mental and it generally seems very busy most places.

[NotSuchASmugMarriedNow1]

The types of people who have lost or will be losing their jobs are mainly people who work in retail and hospitality and not many of them are homeowners anyway so the fact that there are going to be a lot of job losses won't affect the housing market. (thats my theory, others will disagree)

I don't understand why your worried about property increasing in price when you're selling? Surely that means you're going to get more for your own house.

[Fairymaryprincess]

Reading online, here and a few local sites about the 20% thing and know a few who sstc before lockdown and are now saying the very few up for sale are going to best prices within days of going on, but round here there a 26 3 bedroom houses on Rightmove, it's a very large postcode area and only a couple of the houses are semi's which is what we'd like really, also about half of the postcode area isn't very nice at all.
I don't mind a terrace if it's big enough and has a decent garden but most terraced houses here either have communal gardens or a very tiny yard.
No not first time buyers.
Just worried if we put ours up then we will definitely struggle to find somewhere else, I also don't understand how the prices seem to have jumped so high despite the fact that so many people will be losing jobs/having hours cut etc 😭

[TheGriffle]

Houses are selling quickly round here. When we first started looking around 4/5 weeks ago there were about 9 of the type of house we were interested in. Now there’s 2 and only only 1 or two new ones have come on the market in that time.

[lifesalongsong]

Quite a few near me but I imagine there are regional variations. One went under offer within a couple of days, seems over priced to me but maybe it's correct that people are thinking of moving out of towns and cities

[NotSuchASmugMarriedNow1]

How do you know that people are paying 20% more than asking price? And if so, can't you price the house your selling at 20% more? Or are you a FTB?

[Fairymaryprincess]

Just that*