When should I sell (and buy)? (London)

[hammersmithbridge]

I've been following various threads on this board about the property market, and have read lots of knowledgable posts. I wonder if I could please get some advice on my situation.

I live in London in a 3bed period conversion flat with roof terrace. I want to sell and buy a 5bed house in a nearby area. The flat market isn't doing well at the moment as everyone knows, but EAs have been positive about our roof terrace.

Stock seems low for family homes. I'm told what does come on the market gets sold immediately, often above asking. I don't really want to compete for a house in this frenzied environment. Question: do we think the market will cool down later this year? Should we market in say September (or any other month?), and hope that stock will improve for family homes? Or wait until next spring? When will the market cool down?

Nobody has a crystal ball, I understand this. I'm canvassing opinions - throw them at me please!

No idea but I have the same questions so am watching with interest.

So many people are waiting it seems - for this to pass.

Who knows ...

I think the people we would be buying from would be in their 50s (?), looking to move out of London or downsize now that their children have gone to uni... perhaps they've not wanted to market until they've been fully jabbed? Surely if you're downsizing you'd be keen to sell in this environment? What's going on?

My experience is empty nesters want to move back in to town. Anyway I think people are reluctant to put their homes on the market because they haven't seen anything they want - leading to a catch-22 situation.
I'd wait til next year if there's no hurry to sell.

I don't think prices will necessarily drop - not below the difference that the ADLT holiday made, anyway, but more properties will come on to the market. The current dearth is due to everyone selling and moving madly before the SDLT holiday and in a WFH frenzy.

Now, slowly, everyone who wold naturally be moving with no deadlines in sight, will start selling.

I would say keep an eye out and as soon as more properties start to become available - go!

Thank you! The thing is, I thought you had to get an offer on your own place first, before your offers get taken seriously. Should we just have a go in the autumn, and make our buyer wait (or pull off the market) if we don't find something we like?