So is the housing market good or not ?

[Justpassingtime1]

We keep reading in the news how prices have leapt and the housing
market is robust despite the virus.
However, here and elsewhere all I seem to here how hard it is to sell?

I think the stamp duty holiday has boosted the higher end of the market somewhat. So the average house price of a sold house is higher, but because more houses in a higher bracket are selling, rather than everything has gone up a certain percentage.

Not really if you’re a first time buyer! No mortgages pretty much for an entire year whilst those who can put down a chunk or money have enjoyed lots of choice

I know people trying to sell flats in London- zero interest, no one viewing, too high a deposit needed for first time
buyers and people rather stay put than lower the price.

There's nothing on the market round here. We want to move but there is nothing to buy!

Perhaps it depends where you live. I'm on the south coast. Houses are having a huge amount of viewings and interest. My friend can't even get a viewing on them because they're already gone when she sees them.

Mostly Londoners apparently. Buying here

We sold a house with the first viewers putting in asking price offer (south east). However, niece and boyfriend had trouble selling flat in London.

What only said. Four sets of friends put their London properties on the market last year, one sold after price lowered, the remainder went off the market, now back on, still no interest. Staying put rather than dropping the price.

There is nothing on the market here (East Midlands). In the large estate we are looking at, there are 5 houses for sale and it's been the same since January - 2 bungalows, 1 retirement property, a tiny 2 bed and an over priced 4 bed. We are desperate to buy and move - cash buyers and no chain, but there's nothing!

It’s a sellers market right now, so few properties on the market. This will change as there will be pent up demand. People who wish to move holding off, it’s like a game of chicken, people don’t want to be the first to list if they can’t see what they like.

@OnlyFoolsnMothers

I know people trying to sell flats in London- zero interest, no one viewing, too high a deposit needed for first time buyers and people rather stay put than lower the price.

Any yet the flats round me (NE London) are selling like hot cakes!

niece and boyfriend had trouble selling flat in London

A lot of people are having problems selling flats, not just in London. Some of this is down to the waiting time to get an ESW1 certificate, even if the flat doesn't have cladding!

The issue at the moment, and over the past few months is that estate agents have been advised by the gov not to allow viewings on houses unless you're in a proceedable position. Which was fine when there were houses that had offers on them, but they've all moved down the chain now, so if you put your house up a month or so ago, there's less and less people out there in a proceedable position. If people can't come and view your house they won't buy. Plus you can't view houses so you can't buy.

Hopefully with lockdown in place things will start moving again, plus the stamp duty holiday has been extended which will help.

Everything is selling here - particularly in the 300k-500k bracket as people are coming from London to the South West now they don't need to commute.

Starter homes are selling quickly and for more in my North eastern town. People were trying to save for longer to first buy in the more desirable neighbouring towns, but the starter homes here are bigger and people want the security of owning whilst the amount they can borrow has reduced. Plus buying here means being mortgage free quite young is very achievable.

It's slowing down a bit, but compared to precovid the housing market is unrecognisable. It's a great boost to the town.

jaffar that’s good, maybe all is not lost then

Flats may be sticking in London but I've just had an offer accepted in SW London after seeing so many go under after multiple offers in a matter of two to three weeks. I'd shortlist a few, call only to be told half of them were under offer (so list them as such on rightmove agents!). Now there's a stock shortage. I think many have seen the price surge as a good time to sell before the market flattens after stamp duty break ends, and good properties priced right will always go.
The house market is always location specific- it may boom in one place and struggle in another. People want outside space and room to wfh, not always available with flats.