Housing market - will it improve?!

[GoinSouth]

A house was added to Zoopla only yesterday. So far it's got 30 viewings and no more being taken. Thought we might stand a chance with this one as it needs renovating... but nope. We're missing out again. It seems impossible at the moment to find a suitable property within our budget. I heard that the market will remain like this til the end of the year. Forget offering below, or even the asking price, you have to offer £10k on top to even get a sniff of a house these days.

Very depressing especially when we have to remain renting which is eating up our deposit and savings. We're at that age where we're not looking to buy and sell in a few years, we're looking for a forever home so we can't just buy anything.. we have limited savings and limited time for a mortgage.

Who knows to be honest. So little is still trickling onto the market and anything decent is getting snapped up, both in area I'm buying in and selling from. Two very different areas, but both very popular.

I'm stuck in a chain that still is open ended. I know if I try and buy something else I'll probably end up in the same situation unless I get something chain free but the only stuff available is either massively overpriced or got something else offputting. Similarly, I know if my buyer pulls out I'll sell within a day or two without even worrying.

And normally I would have considered renting, but even that's no guarantee of anything as you are finding. So anyone on the property ladder is trying to cling onto it. But rentals are also just as hard to find!

There's no easy answers alas. It's all so frustrating from so many angles.

Its awful, I can’t see it cooling off until interest rates increase.

When I read your title I though improve? How much better can it get?
When I had to pull out of a purchase after waiting months for seller to find an ongoing purchase I swore only chain free. I know this limits the search but I had a deadline and could not wait. I did find one, the previous buyer had just pulled out.
But I don't think the market will return to a more normal situation until next year.

I expect it will calm down now that the stamp duty holiday is over, but it will take a while. The holiday artificially bunched sales into a shorter time frame which would usually have been spread over a longer period so there will be fewer properties to come on for the next few months.

All bets are off right now I think 😕

we missed out on a property but just got a call today to say its back on the market. we re submitted our offer its been accepted! also ive has alot of estate agent suddenly calling me the last week which hints that perhaps things are not selling as quick.

@mklanch

we missed out on a property but just got a call today to say its back on the market. we re submitted our offer its been accepted! also ive has alot of estate agent suddenly calling me the last week which hints that perhaps things are not selling as quick.

That's so fortunate @mklanch, very pleased for you!