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Original poster

Is now a good or bad time to be buying

17 replies

KatyMac · 04/08/2021 07:31

There are 54 properties in our price range and area but more than half don't have the EWS1 for cladding

If I click sstc I get a load more including 28 3 bed properties (the ones available are all 2 bed)

Is the summer a naturally slow ti.e or have we just lost out on the good ones?

OP posts:

Livingintheclouds · 04/08/2021 07:46

That seems like quite a lot to chose from, unless you are looking for a three bed. I’d say there are way more two bed flats out there than three beds anyway.
I’m my area there are maybe four properties that I could look at (Sw London) that fulfil my criteria (3 bed terrace, which makes up about 80% of the stock) and price range, so I think having 26 (discounting those without EWS1) is good!
But I think the market does slow down now, as those who want to move before summer ends have already bought and others are on holidays or enjoying the summer. It may well pick up a bit early autumn then slow getting towards Xmas.
Is it a good time? I’d keep an eye out in case something interesting comes up - people can’t always be tactical about when to sell. I don’t think prices are going to change massively in the next few months.

Original poster

KatyMac · 04/08/2021 07:52

I wondered if the summer holidays were quieter

Although the properties are there we seem to be having trouble viewing them

And the EWS1 is a right pain the EAs are blocking/refusing to answer yes/no or outright lying to us, out of 5 viewings 3 are moving because of the cladding...

OP posts:

ForkedIt · 04/08/2021 07:57

Spring / Summer is traditionally the peak of the market - not least because people want to move in the summer holidays but with the stamp duty holiday this year things were manic over winter and early spring so the summer boom isn’t as pronounced this year.
In general, now is a terrible time to buy as everything is so inflated. We are just about to move into a new house (necessary relocation) and I wouldn’t have touched the market with a barge pole if not necessary right now; yes, we got an excellent price for our house but that was swallowed up by what we’ve paid for the new one!
I guess if you’re downsizing it would be worth it?

Ridingthegravytrain · 04/08/2021 07:58

It’s a quiet time. Picks up a bit in sept then quiet again until after Christmas. Usually

Original poster

KatyMac · 04/08/2021 09:00

No it's first time buyer (DD)

I've suggested not leaping right now but 18m of lockdown with us has made her desperate

OP posts:

surreygirl1987 · 04/08/2021 14:52

August is usually a quiet ish time. Estate agents tell me that spring until July is usually the busiest time, with a dip in August, picks up a little in September, then is quiet for the rest of the year until the following spring. However, they have also said that August might not be such a noticeable dip this year - partly because it was pretty dead prior to August anyway, but also because fewer people going on holidays. Basically, this is an anomalous year so less likely to be following usual property trends.

Cruddles · 04/08/2021 15:36

If there's a place you like and it's in your budget then it's a good time to be buying, don't worry about anything else

MinnieMountain · 04/08/2021 17:24

I suspect a lot of people sold in the rush for the higher SDLT deadline.

Normally people start selling again in September to be moved by Christmas.

Who knows this year though.

Mellowmushroom · 04/08/2021 17:29

I think it is bad, everything is overpriced

RainingYetAgain · 04/08/2021 17:32

Ds is looking at the moment. After some viewings last weekend, he has refined his search area. One property has come on the market this week in his price range.

dubyalass · 04/08/2021 19:55

I'm actively looking, but have only viewed two houses so far! I have a smallish search area but it's been pretty quiet. Prices are high but I'm seeing more reductions now and places are taking longer to sell. In the spring everything was going to best and final offers but that's not the case at the moment.

Original poster

KatyMac · 04/08/2021 21:32

I think they have unrealistic expectations as first time buyers - we are still explaining service charges and lease lengths and why 50 years left is not ideal

OP posts:

Paddingtonthebear · 05/08/2021 22:17

We are currently trying to buy. Having also previously worked in an estate agency I’m fairly sure right now is the worst time in a long time to be buying. Totally a sellers market, prices are through the roof and there is very little stock anyway. It’s utterly shite. Wish we had been able to buy earlier in the year because there was a lot more about then.

Viviennemary · 05/08/2021 22:21

All the good houses have gone mostly. And not many are coming on the market. That seems to be general in a lot of parts of the country.

readytosell · 06/08/2021 08:40

It's difficult at the moment as above there isn't much coming on and anything decent is still being fought over in many places. I can't see there being the usual bump in September either this year, a lot of people have already either moved or are waiting out for 'normality' to resume next year.

But reading between the lines on your posts it sounds like they have set themselves with some unrealistic expectations. Perfect houses rarely exist, compromise is always key.

Tuscancat · 06/08/2021 08:43

Send them to Kirsty and Phil for some tough love!

Original poster

KatyMac · 06/08/2021 09:37

@Tuscancat

Send them to Kirsty and Phil for some tough love!