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Original poster

When will more houses be up for sale?

43 replies

Dustyboots · 06/06/2021 20:15

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?

OP posts:
IceandIndigo · 09/06/2021 11:56

I think the market in London has been totally distorted by the stamp duty holiday, so I expect it will all start to change once that ends. In London people typically have massive stamp duty bills so the opportunity to save some money has massively pushed up demand. Personally I think it's a false economy as every house that comes on to the market near us is selling within a week, so people are saving on stamp duty but paying over the odds for the property.

StiffyByng · 09/06/2021 12:34

The market in London is the slowest of anywhere apparently. The exodus to all the other parts of the country, where people are offering without even viewing, means that fewer people want to buy houses in London and more are being put on the market.

As someone who is trying to sell there I am rather gloomily expecting ours to linger on the market for months while I read about people selling within hours everywhere else.

IceandIndigo · 09/06/2021 13:44

@StiffyByng

The market in London is the slowest of anywhere apparently. The exodus to all the other parts of the country, where people are offering without even viewing, means that fewer people want to buy houses in London and more are being put on the market.

As someone who is trying to sell there I am rather gloomily expecting ours to linger on the market for months while I read about people selling within hours everywhere else.

Not in my part of London! I’m in NE London zone 3
StiffyByng · 09/06/2021 14:00

I need to move my house.

A friend has had her house on the market for a month with no offers. It's overpriced though, and she knows it. Her agents keep telling her it's right though and not offering any sensible suggestions for price reductions.

feimineach · 09/06/2021 15:10

A friend has had her house on the market for a month with no offers. It's overpriced though, and she knows it
I’ve had a friend in this position too for past 3 months. Thing is, she only wants to sell it at the level she put it on for, and happy to wait for the market to catch up with that price. If it doesn’t, she’d stay there rather than selling.

She was very honest with EA’s who were happy to proceed on that basis, and it’s just paid off, as she had an asking price offer from cash buyer whose chain fell apart and has to move for work. Friend is happy to go into rented because it’s worth her while at this price.
So market still seems to be running rampant round here (South West).

lettie9 · 09/06/2021 21:54

The stamp duty holiday has done nothing but push up prices. In my area in north London, prices have gone up 10% I reckon over the last year. I thought with the SD holiday coming to an end, things would cool down, but prices are not dropping. Will prices fall later in the year? Next spring? Or just keep rising?

We have a house under offer and are looking, but frightened by the prices we're seeing. Not sure whether to just forget the whole thing until spring.

GoinSouth · 09/06/2021 23:37

Very depressing. We're FTB (at the ripe old age of mid 50s) with a healthy deposit and needing a small mortgage but we are looking at the cheaper end as we'll only be on one salary. Looking on Zoopla today, 2 up 2 down houses that we liked in our price range, are just snapped up immediately and much more than the advertised 'asking' price. Very worrying that we won't be able to buy our own home before we retire, when we won't be able to afford to rent on such small pensions.

Any decent vans or trailer homes going for sale?! No?.. Tent then?

PracticingPerson · 10/06/2021 07:28

@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
Do people think this will really happen or is this just wishful thinking?

We are also struggling to find anything, every so often something pops up that has fallen through.

PracticingPerson · 10/06/2021 07:55

I feel a bit sad for people who were really trying to meet that stamp duty deadline and haven't made it Sad

BeenAsFarAsMercyAndGrand · 10/06/2021 08:51

I don't. People rushing to meet the stamp duty deadline are largely having their stamp duty saving offset by an increase in the purchase price of the house, so in most cases the saving isn't real. That's how the market works.

BeenAsFarAsMercyAndGrand · 10/06/2021 08:54

Tbh, The government should never have introduced the stamp duty holiday. It's an utterly appalling policy, along with help to buy and the various other housing market props and disguised building company subsidies.

I'm a home owner btw, just don't agree with government policies repeatedly being enacted to increase the wealth of home owners at the expense of those who don't own property. It increases inequality, and they know it.

Badromancer · 10/06/2021 10:02

This reply has been withdrawn

Withdrawn at poster's request

Winecheesesleep · 10/06/2021 11:42

I'm worried about this too. We only accepted an offer on our property a few days ago but there is basically nothing on the market for us at the moment. I'm really hoping it picks up in the next few weeks!

StiffyByng · 10/06/2021 13:56

I would genuinely suggest anyone looking to buy a house in London look at SE London right now, even the more expensive bits. Most of the current stock is sitting there, or being reduced, and the prices aren't much higher than they were a couple of years ago. There are some (relative) bargains to be found from what I can see.

Obviously this is where our house is so I say this with sorrow on a personal basis. But wanted to flag up this apparent oasis of availability.

PracticingPerson · 10/06/2021 18:49

@Winecheesesleep

I'm worried about this too. We only accepted an offer on our property a few days ago but there is basically nothing on the market for us at the moment. I'm really hoping it picks up in the next few weeks!
Yes, us too.

It is quite stressful.

BeyondTeddington · 12/06/2021 11:12

@StiffyByng

I would genuinely suggest anyone looking to buy a house in London look at SE London right now, even the more expensive bits. Most of the current stock is sitting there, or being reduced, and the prices aren't much higher than they were a couple of years ago. There are some (relative) bargains to be found from what I can see.

Obviously this is where our house is so I say this with sorrow on a personal basis. But wanted to flag up this apparent oasis of availability.

Whereabouts in SE London are you if you don't mind me asking? I hope your house sells soon!
StiffyByng · 12/06/2021 13:47

Have PMed you,

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