How is the housing market near you now?

[optingout]

I think there have been a couple of these threads on here before about the market being red hot, houses selling very rapidly during the housing move in the last 18 months.

In my area things have slowed somewhat in the past few months but the very desirable properties are still selling quickly. There are definitely more reductions than there were on overpriced or less desirable properties.

Can I ask how things are in your area of the country? Stamp duty holiday finally ending this month and the economic outlook seems poor so perhaps things will slow now.

South east - 50 minutes into London and there’s barely anything on the market as most is being snapped up so quickly.

In the North West (not sure where you are OP) and my opinion is similar to yours. Good properties are going under offer in days - and most of these get into a bidding war so go for over asking- but those who have tried to be greedy and ask way more than the property is worth are now having to reduce their prices significantly.

North west too but I'm finding the opposite? On average each house is going for asking price of about 20- 30k more than compared to 6 month ago. So if we were looking at 170 max for our first home we have had to increase it to a more realistic 200+

I'm hoping this changes soon

Rentals are non existent.

Anything good and priced right sells fast here, and there's a definite shortage of desirable properties in the SW, so the agent was telling me yesterday, hoping that he was going to be told that we're ready to sell now!

It's very localised here. My neighbourhood (SE London zone 2) house prices have rocketed and anything half-decent goes in a tick. Flats - on the market for months unless at rock-bottom prices. Literally 100m down the road, smaller 3-4 bed Victorian terraces in an adjoining neighbourhood - shifting veeeery slowly, plenty of price reductions.

Snap @Fadingout
We must be in a similar area
Everything has got sold STC on it

Manchester- houses sell in days flats stick on for ages even if very cheap

Very little coming into the market here in the north east. Big houses are flying off the shelf. My partner had 3 offers out of 4 viewings (and is accepted at £25k over asking) last week from a teaser video on the estate agents Facebook page. It did not even make it onto Rightmove.

But there is very little like it coming to the market. Almost everything for sale is identikit new build estate type houses which have shot up in price over the last year.

Also worth noting that there are some houses not shifting and they have (IMO) vastly over inflated prices. Starting to see some reduced houses kicking around Rightmove.

SE but slowed. Prices were over inflated particularly on 'starter' homes. Tiny two bed up on my road for 600, hasn't shifted.

East of England / east Anglia - still moving crazily fast.

I now look at houses I had considered but rejected 18 months ago on my RM account and lament my decisions.

So very little on the market in the villages.

The occasional probate house comes up, the trend seems to be house needs a tonne of work and is vastly over priced for the “opportunity”… they have to sit there for months until the sellers cop on, reduce price, then they shift.

Northumberland still busy and selling fast for nice houses. Property to do up taking longer 6-8 bids per property and over 25 k above asking price . . Not as busy as some parts of the Peak District where there have been 11 + offers on some houses and over 150 k above asking price on some already expensive houses . I have seen some recent reductions though and property coming back to sale as it’s all fallen through . Northumberland is a beautiful part of the world and I think you still get a lot for your money - just don’t expect to be able to move south again 🤦‍♀️. Unless we ‘level up’ haha.

PS Kim Deals - I’m sure we all are doing that ! It also seems that when you sell you don’t get the high bids but when you buy you have to bid high 🤦‍♀️🤷. Hey it will calm down - surely ?

I’m in Warwickshire. Nothing new coming on the market here. There’s a few houses hanging around that are massively overpriced, but have little interest. We’re in the usual October downturn, I think, prices won’t be affected but much less for sale.

South West, still crazy. Houses selling within a week or so

@marymay62

PS Kim Deals - I’m sure we all are doing that ! It also seems that when you sell you don’t get the high bids but when you buy you have to bid high 🤦‍♀️🤷. Hey it will calm down - surely ?

Oh I hope so, I now berate myself for being so choosy 18 months ago

I suppose the risk now is that we will panic buy?!

On the Isle of Wight. We have had the biggest drop in the rental market in the country. Anything suitable is being snapped up by second-homers for Airbnb's. it's awful.

I live in a leafy suburb in South East . Well priced houses going fast but over inflated houses are not moving.

Sheffield Hallam.

Bedlam

Oxfordshire - my house is under offer but nothing to buy or rent. Nothing coming on & the few things that are on have been there for ages.

Devon's been insane, but if things come on at mad prices now they don't sell any more. Starting to see quite a few reductions and being spammed by estate agents with things coming back to the market. It's still brisk but nowhere near where it was.

I’m not sure I have any sense of reason about house prices anymore. When we decided to sell the estate agents varied the price by 200 k between them - in May this year. I don’t think estate agents have a clue about prices now, like the rest of us ! Just slap a figure on and see ....

It seems pretty unanimous that the market is still moving rapidly for well priced plus the general shortage of houses for sale.
I wonder how much longer it will continue.

@thewaythelightfalls Where's that?

@sd25 around se14.