Is the market calming now

[Ladyof]

I cant quite work out of it is or not. Not as much being listed especially what I'm after 4 bed detached good size and when it does it gets snapped up.

Not sure if they end of the stamp duty will calm it all now, have I missed the boat. Argh

It doesn’t appear to be here in Norfolk.
I am not looking at moving, but enjoy looking at my neighbours property.
A 2 bed flat sold in 3 days and a 2 bed house is up for £205k.

i think it depends on location. in my search area ive seen alot come back on the market from chain collapsing etc, but everything that's come back on is at least 10k more than it was originally on for, but not selling this time round. alot of reductions aswell.
i do however think that alot of the reductions are because some people put their houses on for crazy prices.

There's less coming to market where I live and where I'm looking to buy, but I do wonder how many sales are taking place before even hitting the open market.

I walked past a house near me the other day that was having a board put up with a sold sign already on it.

I stalk rightmove everyday!
There’s been some houses up for sale that get snapped up within a day before even all of this and there still sitting there two weeks later.
Markets slowed down in my area.

I dont think I would want to be quoted, but not convinced there wont be a crash at some point. This Autumn/Winter?
The UK is riddled with debt now, both government and household.
And I dont see signs of the government eager to change what they are doing, anytime soon.

I stalk rightmove everyday too...it seems completely random (to me) which flats get snapped up and which ones have been there for ages. Lovely ones have been there months and tiny ones at similar prices go quicker - but I guess people look for different things in a flat.

Don't think stamp duty holiday will make much difference as I am looking at FT buyer type flats/maissonetes.

They was a discussion on the news yesterday about inflation and interest rates and whilst I didn't catch most of it, I heard them talking about how interest rate will most likely not rise or reviewed until at least 2023. As long as interest rates are low, people are going to borrow as much as they can to get or stay on the property ladder so I think it is slowing now that stamp duty break isn't a factor but also I don't imagine prices will drop as the demand is still there. We Brits like to have our own homes and we have done some crazy things to ensure that happens.

Still very busy where I live (70 miles outside London) and in SW London where I'm buying. Shortage of properties make the ones on the market pricier. I planned our move two years ago otherwise I'd consider waiting.

Another daily Rightmove stalker

Doesn’t seem to any different to me, I look randomly all over the place and everything seems to be selling quickly

In Edinburgh- the market is incredibly strong for houses with gardens in good school catchments.

These go at least 10-20% over the home report valuation.

I'm a RM stalker too. I thought things were calming down. Not sure if that's the case anymore though. Here, anyway.

Things feel a bit more stuck. There's the odd beautiful perfect house that gets scooped up fast - but most of it's old tat and isn't going anywhere.

Houses are being reduced by up to 50, 000. I'm guessing people are bidding that much and more over on the good ones too.

We've been planning our move for 7 years and are now ready to go. Except we're obviously not going to be going anywhere for a while.

It seems properties in my price range £625k-£675k are rare as hens teeth in the area I'm looking. When they do come on the market, they get snapped up straight away. It's very disheartening.

We’re SE London/Kent and I check Rightmove everyday for 3 bed houses up to around £550k. In the last week there definitely seems to be more going on the market at a lower price than the last 6 months or so. But is that just people trying to get a quick sell in before the stamp duty deadline I wonder

I think things have slowed slightly in my SW town. Many properties are still snapped up instantly, but some are sticking, including a few nice houses in good areas. I’ve even seen a few price reductions. I hope the days of bidding wars are over.

I think the untold story here (or at least, not a story I've seen come up a lot) is the amount of properties that are falling through. I think the fall through rate is high at the moment, but because there are so many buyers it's not causing too much of a problem. That said, I still find it interesting, and I do wonder if it's because of people getting cold feet after competitive bidding or offer an uncomfortable amount because they're afraid they'll miss out otherwise and then think better of it.

It is where I am. We got an offer accepted just in time. There hasn’t been anything suitable come up since, prior to making our offer there was houses being put up almost daily that we missed out on.

@mobear

I think the untold story here (or at least, not a story I've seen come up a lot) is the amount of properties that are falling through. I think the fall through rate is high at the moment, but because there are so many buyers it's not causing too much of a problem. That said, I still find it interesting, and I do wonder if it's because of people getting cold feet after competitive bidding or offer an uncomfortable amount because they're afraid they'll miss out otherwise and then think better of it.

Partly that, but also people getting impatient and making ultimatums and throwing their toys out the pram.

Partly because of the stamp duty deadline and partly because it's easy to sell but then hard to find an onward purchase. Those at the bottom of the chain just pull out but then aren't always realistic that they won't suddenly find something else.

How is this ever going to sort itself out and get unstuck again?

I'm not waiting for a drop in prices - I'd love there to be, but we'll be waiting for ever now, I reckon.

I just want it back to the days when there were plenty of houses coming on the market and people weren't fighting and bidding over them.

Same Alonim

It’s a depressing state the market is in now.

Supply is under so much pressure now that the top of the chain have nowhere to go. People just stop selling because they have nothing to buy. Predicting a crash is a fool’s game. Even if prices dropped, those in negative equity would just stay put unless they had to absolutely sell.

These things come in cycles, I remember exactly the same in the late 80s and then again in the 90s.

There’s a reason for the terms buyers or sellers market.

@FizzyPink

We’re SE London/Kent and I check Rightmove everyday for 3 bed houses up to around £550k. In the last week there definitely seems to be more going on the market at a lower price than the last 6 months or so. But is that just people trying to get a quick sell in before the stamp duty deadline I wonder

Snap! on the search terms @FizzyPink! I think it’s slowing. I’m getting call backs on properties where buyer has ghosted, pulled out etc. But the vendors are looking for any new buyers to match what the ghosting buyer (over-)offered otherwise they don’t have enough money to honour the purchase they’ve committed to.