When will more houses be up for sale?

[Dustyboots]

I’m getting very impatient with this now.

So few houses, but so many people wanting to move. It’s impossible and we have to wait, but for how long?

Are there any estate agents here or anyone more in the know who can see things easing up?

Nobody knows. It's that simple.

I'm thinking the same thing! I'm hoping as it gets close to the stamp duty holiday deadline (end of June) lots of properties will reappear on the market as people realise they won't complete in time and won't be able to afford the purchase price + stamp duty

The theory is that as prices increase more people become motivated to sell, but that only really works in the housing market if their next house has become comparably more affordable as a result.

Surely it depends where in the country you are?

There's loads of stuff up for sale round us.

We're on the market as life circumstances have made it possible to upsize. We were reluctant to go on a month ago as wanted to find something first but at that point you had to be proceedable to even view places. Now people are viewing ours before putting theirs up so there's a definite slow down. Our estate agents said that most people who were thinking about moving have already moved so I think it will be slow for a time to come

Theres nothing coming up round where I am.

Just need to wait

I was putting my house for sale this summer but decided against it when I heard the news of the 95% mortgages.

I chickened out because I realised, demand would be higher, prices therefore higher and the risk of not finding a nice smaller house before I was priced out significative.

There's loads of stuff up for sale round us.

Really! Where do you live?

We're in London. I thought everyone was supposed to be fleeing London - but there are no houses for sale and so many people looking.

It’s usually downsizers who want to capitalise on a rising market, but right now many of those who might usually be at the life-stage for downsizing have appreciated living in a big house over lockdown, and have had more time than usual to keep up with the garden.

My parents are still in a 6 bed 1/2 acre property that 2 years ago they announced was too big for them to manage any longer, but now they feel they dodged a bullet by not downsizing before lockdowns. They feel safer socialising with friends at home then in restaurants and don’t plan to resume international travel for next few years so are going to stay in the house for at least 5 years, they’ve decided.

I think the stats look like this scenario is being replicated all over the country. Combined with the fact that lots of apartment dwellers suddenly can move further away (home/flexi working) and are desperate for more space, there’s a lot of competition for those properties that are available.

Argh I wish I knew the answer to that. There is currently very little where we are looking (semi-rural part of the South). And whatever does come on is ridiculously high. If we'd have been ready to buy even just 6 months ago we could have got something amazing (judging by SSTC - though of course don't know if everything went substantially above asking price!) but now because there are hardly any properties the prices are massively inflated. I'm talking 50-100k more expensive than 6 or so months ago. One house (a 4 bedroom detached with a smallish kitchen and small garden) is up for £800k, I presume chancing it due to being the only house in the local primary school's catchment area for sale!

@Dustyboots

Probably unlikely to appeal if you're fleeing London! We're in North Lincolnshire - plenty of houses up for sale in and around Scunthorpe, Grimsby and the villages in between.

A quick Rightmove google of houses for sale in a 15 mile radius of Grimsby, for example - which would be a 25 minute drive - gave 1,718 properties for sale. Again, 1800 properties for sale within 15 miles of Scunthorpe.

I guess if you want to remain round London there is a lack of property - but elsewhere in the country there don't seem to be any real issues.

@Dustyboots - Have you thought about somewhere like Peterborough?

I'm assuming it's 'fleeing' London but still needing to commute for work?

Peterborough to Kings Cross is an hour on the train. 773 houses for sale on Rightmove! (Disclaimer: I don't know Peterborough)

@Dustyboots

There's loads of stuff up for sale round us.

Really! Where do you live?

We're in London. I thought everyone was supposed to be fleeing London - but there are no houses for sale and so many people looking.

Think it’s everyone in London in flats moving out taking advantage of being able to be able to buy an actual house further out due to home working. People who already have houses don’t need to move out to get a house which is why less are for sale...

@elephantasia

I'm thinking the same thing! I'm hoping as it gets close to the stamp duty holiday deadline (end of June) lots of properties will reappear on the market as people realise they won't complete in time and won't be able to afford the purchase price + stamp duty

I feel a bit mean but I'm kind of hoping the same. Our buyers are starting to get twitchy but there is just nothing for us to buy at the moment 😭

@Dustyboots We put ours on today in London. Do feel free to buy it! 😁

Yes - we're staying in London @StiffyByng - where abouts are you selling?

We're stuck in East London due to schools and work and various other ties. I love it here too.

We just need more space - 2 up 2 down is a bit too squashed for 4 people including 2 teenagers.

Just warming up the crystal ball...

Been a few threads like this now, it’s a bit of a self-fulfilling prophecy, if you don’t put your properties on the market, their won’t be any on, will there. As long as you go with a no sale no fee agent, you have nothing to lose, just don’t instruct your solicitor until the chain is complete.

@Dustyboots SE London I’m afraid.

Aren’t all agents now no sale no fee? I’ve sold a few places over the last twenty years and never come across any upfront fees.

@StiffyByng

Yes you are right with High St EA, I was thinking of Purple Bricks & similar, where you pay up front, cheaper but there’s the catch.

Ah, always stayed well clear of them.

We’re on with a local agency that has no office but does viewings etc. The fee is 0.75%.

There are loads here! And lots are finally being reduced! I'm still struggling to find what I want though.

We've been looking at property in west yorkshire.. we're don't have a house, not brilliant salaries (and I want to resign from my job anyway) so just want to get out of renting, move and buy a small property with a decent sized garden for our 'forever' home as we're mid 50s now.

OMG.. put an offer on a house today only for another offer to be accepted, £11k more than the asking price! Saw another property that only came online last evening, called agent this morning who said 'we're not taking any more viewings, we've already got 30 booked and it's going to sell!'

For our situation, it's very worrying as we won't be able to afford to rent when we retire so we need to buy a house now before it's too late. Not much coming on and when it does, 'poof!' it's gone.

What the hell!

@user1471538283

There are loads here! And lots are finally being reduced! I'm still struggling to find what I want though.

And where is this?