Property market in your area

[myvisage]

Hi,
We are thinking about putting our house on the market and buying in a new area. The property market seems to have been red hot recently but seems to be cooling a bit locally. There don't seem to be many houses for sale though. Is it still on fire in your local area or cooling off? Any recent selling/ buying experiences?

Slightly cooled here, two weeks ago everything was going to sealed bids. But with stamp duty window closing today it has slightly cooled.
Having failed to get several properties one came on the market Monday afternoon and we made a successful offer yesterday lunchtime - at least no sealed bids.

Dd is moving today (at last!) after trying to buy 10 different houses in Prestwich, North Manchester. She was outbid on 9 of them by a long way… it’s absolute madness. She’s paid 10% over asking price for the house she’s bought, but her lender valued it at her offer price. Prestwich is one of the country hot spots atm.

I'm in rural Scootland - normally v slow with little price rise - it's been frenetic and in the town too, so not just people looking for rural idyll/ second homes.

I'm selling in central London - the market has been flat here for years compared to its boom in about 2014 and it still seems flat - though apparently prices rose 0.3% in the first months of this year up to May - a tiny rise but hey, it's something! At least we know the market has finally bottomed out in central London and hopefully prices will start to rise a bit more soon. The internatonal buyers may need to return first, though.

I'm in Essex and for the first three weeks of June it was crazy! If you weren't viewing the day it went on the market, you had no chance and if not a first time buyer, definitely no chance. Now, hardly anything is coming on.

I viewed my dream home last week but decided that it was 25-40k over priced so let it go. Still on the market, so I'm hoping it will get reduced soon.

If we didn’t find the one we are currently buying, we’d still be looking. Our offer was accepted early May, we probably would have given up by now. It’s soul destroying!
Stuff is coming on the market, slowly, for FTB or down sizing but none of the next step houses, 4 bed/offices, or if they are they are massively out of budget.

It’s red hot here. Three bedroom houses seem to be particularly in demand. I phoned up about one yesterday and was told a sale had just been agreed. It was on the market for two days and had had three offers above the asking price.

I’ve noticed that the market isn’t so great for flats though, unless they’re in a really popular area. Several have been reduced on Rightmove.

Norwich is crazy. Next door had their house on the market for approx. 8 hours before they had an offer over asking.

We’re getting 4/5 leaflets every couple of days from estate agents.

I’ve just sold a flat in Glasgow’s Southside for £10k over Home Report valuation. Sold within a week.

We've just accepted an asking price off on my fils house just over a week after it was put on the market. We did have some silly low prices, but thankfully a couple at asking price. There is a shortage of similar sized houses in the same price bracket, plenty of flats available though. South/south west

Agree with the other poster Hampshire, it's gone stone-cold here. Went on nearly 5 weeks ago and only had a couple of viewings, even second viewings but ours and all our direct competition is just sitting there. Even the new builds don't seem to be selling. There's also nothing to buy either so we might abandon the whole idea and try next year. We're really keen to move but it seems like a waste of stress at the moment

Home counties. We had an offer accepted last week. 30 viewings, went to 4 best and final bids. I feel very lucky that they chose us. We are not quite ready to put ours on the market (purchase isn't dependent on sale) but the estate agent has already rung and said they have buyers waiting as soon as we are ready.

There is very little being listed in the part of Surrey I live in. Well priced properties are selling quickly but ambitiously priced ones are hanging around. I'm rather at the prices of some of the houses near me, asking prices of £700k+ for 3 beds semi opposite a train line with fast trains whooshing past.

Our empty property doesn’t get its photos taken until tomorrow. The agent has already told us there are 3 people ready to view, so I guess this is why everything on right move seems to go within hours, bought by people already known to the agent as desperately seeking.

I'm in an area in West of Scotland which is highly sought after by families as it has tge best state schools in the country. Houses are going to closing dates within days and 3 bed semis are selling for at least 30k over asking. I'd say this year there's definitely been less supply.

@rwdpickle, what part of Hampshire are you looking at? We are looking at the Petersfield area and it is very slim pickings but a lot of properties seem to be sitting there, unless clearly a bargain.

West of Scotland here too and properties in my price bracket (£250k or thereabouts) are selling for £20-£40k over the value on the home report.

I’m beginning to feel so flattened by it all. It’s like someone has stamped on our hands and we’ve fallen down a rung of the ladder priced out of what we wanted to buy. The house we live in currently is just not big enough for us long term but I worry we are stuck here now.

There isn’t much coming on the market at all. The ‘sold in 3 days’ etc has stopped a bit because they actually want them to hang around for a couple of weeks now to get as many people offering as possible at the closing dates.

It’s ludicrous. I’m mid selling my house because of a split, but I am so reluctant to go through with it because there is NOTHING to buy.

Rishi Sunak has a lot to answer for regarding this housing market but he probably doesn’t care as his portfolio has probably grown massively. A house came on here - it’s a house that seems to go on the market every couple of years other than that all big/biggish family homes appear SSTC the day they land on Rightmove! Some don’t even make it according to our local estate agent.

The same six or seven houses have been for sale for weeks now in my village (rural Cambridgeshire).

Yep @surreygirl1987 same area! All along that A3 corridor really. Nothing really coming on, and there's a load of new builds now in competition with us (even though I think our is better, more square footage and a mature garden) so we really don't know what to do.

Madness isn’t it? We’ve given up trying to find a house to buy, otherwise we will lose our buyer. We are going to rent. If we can find a rental..

@redpickle yep we are also looking along the A3 corridor! From Petersfield to thr Liphook area anyway. I'm surprised you haven't had much interest- sounds like exactly the sort of property we are looking for, and houses with gardens are in demand (too many new builds with strips of fake grass!).

Here (rural North Lincs) larger properties seem to be hanging around whereas smaller ones are sstc within days.
Our agent has already asked us to consider reducing asking price only been on the market 4 weeks.

Drying up here still some bonkers asking prices reasonably price houses are going seen one that last sold 315k in 2017 to 450k today with no updating or extension and small square foot can't see that selling !!