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Original poster

What is the market like in your area and why are there no houses for sale?

36 replies

muddleheaded · 31/01/2022 18:42

Hi,

I wondered what the housing market is like in your area. Here in the SW, things have slowed down significantly but there are so few properties being listed compared to normal. In Summer 2020- Autumn 2021, everything was going as soon as it was listed/ going over offer but now the less desirable properties are just sitting on Rightmove. However, I don't think prices have fallen much due to the lack of properties.
I have the impression that in some areas, things are still moving very quickly. How are things where you are and why do you think people are holding off listing their houses?

OP posts:
Hiphopskotch · 31/01/2022 18:48

I'm also in SW and in the process of selling and buying. Ours sold stc really quickly as the type of property is scarce. It went for a healthy chunj over the guide price in one day of viewings.

Estate agent over the weekend said not a lot is coming up because covid accelerated people's plans - the areas we are looking at are full of families and at a certain point people want to downsize/move out for more space. Estate agent said lots people who might have sold up in the next 3-5 years brought forward their plans and sold last year...meaning there is less to go round now.

Having said that we are finding the market picking up a little now!

ThatsGoingToHurt · 31/01/2022 20:49

Im in the SW and there seems to be very little coming up to buy or rent!

I bought a house in 2019 and houses on the same road were selling for 33% in 2021 more than I paid!

Ikeameatballs · 31/01/2022 20:51

North east and not much on the market, though not actively selling/buying I always like looking, and what comes up near me goes v quickly.

mindutopia · 31/01/2022 20:59

We are in the SW and had offer accepted in October, have exchanged and due to complete in February…almost 2 years to the day since we had our first offer accepted (vendors pulled out of that one). I don’t know what things are like now, but in October they were still very hot. My sense is that there aren’t many properties now because they already went to market last year in the rush. So everyone who wanted to sell largely did.

I do think, however, that especially around here, there will be houses come back on when everyone who wanted to move to the seaside gets bored because there isn’t an M&S and the winters are grey. I think people will stick it out for a year or two, but then will be bit screwed when they can’t sell for the extra £100k they paid for it. I’m not sure really what will happen to the market then.

Whammyyammy · 31/01/2022 21:03

SW, one house in our village for sale

LookdeepintotheParka · 31/01/2022 21:05

There's only one house for sale in the large village where I live and everything that has come on the market in the last 6 months is selling really fast. We're desperate to move as we need something bigger and nearer to DH's work in Bristol but it's much cheaper here so it would be a huge stretch!

I have lots of friends who are extending rather than moving house. Moving expenses and fear of broken chains are putting them off as well as lack of affordable/available family homes in this area.

TippledPink · 31/01/2022 21:07

There's houses coming on the market round here just but what I need! I already had an offer accepted on a property in September 21 but my sellers can't find anything to buy. So now my buyers are getting antsy. Desperately trying to find the right house as quick as possible so I don't lose them, otherwise we will just stay where we are.

dubyalass · 31/01/2022 21:46

Also SW. Bits and bobs trickling on, just not where I want to buy! It's definitely slowed down, though it hasn't stopped agents listing at ridiculous prices, and the family houses are still going to best and final, well over asking. But the stuff with limited appeal or overpriced is sitting there unsold, whereas last year it went in hours if it made it onto Rightmove at all.

Totalwasteofpaper · 31/01/2022 21:59

We are north London.

There is terrible tired stock on and about 6 of them are houses that were overpriced for sale when we bought 2.5 years ago and couldn’t shift then either.

Our friends are trying to buy and anything decent is going to sealed bids in a day or so.

TallTrees78 · 31/01/2022 22:00

I'm in Scotland in a large village with a population over 5,000. Only 1 house for sale and 4 flats. Any decent houses coming on to the market are still selling very quickly, and for substantially more than the "offers over" listed price.

sarahc336 · 01/02/2022 06:28

Nw here, the market is very slow. Literally one decent family semi detached will come on a fortnight so they'll be the same 15 people all view it and it normally goes to closed bids 🙄 we sold ours months ago and we just can't get an offer accepted, I feel our buyers will pull out soon but it's so pot luck if you get something x

Redglitter · 01/02/2022 06:34

Flying off the market here - west of Scotland. House near me sold this week for 30% OVER the asking price. They had 50 viewers in the first 2 days it was on the market

vickyc90 · 01/02/2022 06:35

We listed ours at 12pm it was sold by 4pm, it's ready to move into if that's your kind of thing but also neutral if you want to change. In contrast the house we have bought need decorating top to bottom and is very bold! It sat on the market for two months before we bought it. North east England selling a 00's 3 bed semi buying a 4 bedroom 00's build detached.

NotQuiteUsual · 01/02/2022 07:54

NE and there's plenty of good sized two bed terraces. A decent amount of three bed terraces, but they move fast. Anything else is gold dust. The step from two to three beds isn't much, so most people go straight for that. But the next step up has slowed massively

languagelover96 · 01/02/2022 07:55

I live in the SE region. Round here there are few properties for sale right now. I hardly see any for sale signs as I drive or walk around the area.

CeeceeBloomingdale · 01/02/2022 07:55

In in NE England, only flats and 2 bed houses for sale, anything 3 or 4 bed goes within minutes,.

Opal8 · 01/02/2022 08:01

East midlands

Only properties for sale locally are vastly overpriced barn conversion type houses (£880-950k) and 2/3/4 bed new builds (£225-550k) or tiny 1 bed flats/apartments

I'm very glad I'm not looking atm tbh

NightmareSlashDelightful · 01/02/2022 08:08

Not a lot happening openly here (Edinburgh) and what is listed is a) not shifting and b) usually obviously compromised in some way.

But a lot happens off-market here. I’ve got a brief out but we’re after something quite specific so not expecting to be calling the movers anytime soon.

IbizaToTheNorfolkBroads · 01/02/2022 08:09

S/W Yorkshire here. The market went bonkers Summer 2020-Summer 2021, but pretty much everyone who wanted to sell has done so now, and very little is coming on the market at the moment. We also have a big new build development which is absorbing people who want to move here.

Swifey40 · 01/02/2022 08:09

Sw here, Somerset, we live in a lovely, small town only about 30 mins from lyme regis and from exmoor. Unfortunately because everyone who lives here, wants to stay here, the property market is very difficult. We have numerous friends who live in 2/3 beds, who want to move to 3/4 beds, but there just aren't enough to go round! The prices have gone up massively, about 28%!!
We have everything people want, butchers, bakers, homeward shop, cafés, clothes shops, doctors, etc plus a really good primary school, so it's in demand. Middle of the country but very good transport links!

Iamthedom · 01/02/2022 11:14

I’m selling my late parents house in the South West
House is in need of 50k worth of work

It’s in a really popular location ,
In the small catchment area for two outstanding schools that feed into a church school

fantastic huge park opposite and off street parking and 10 mins walk to train station

Houses only only come up if someone dies 😂
I priced it at about 80k under the price of similar houses at a medium spec and the buyers still paid 20k over the asking price
It went on RM on the Saturday
Open day on the Tuesday
6 or 7 offers straight away
Had one offer at 14 k and one at 20k and the others were all over the asking price
Houses are just going like crazy and for at least 15 -20k over the price is common

XingMing · 01/02/2022 15:27

There's nothing for sale at all in my SW village. It's no secret that we're planning to relocate in the next couple of years, and I regularly get messages via FB asking about our timetable. But I don't see anything of interest in the new areas we are considering either. Frankly dreading the whole process.

SD25 · 01/02/2022 15:47

Ungentrified SE London = turnkey properties selling quickly, properties requiring work or looking a bit tired selling more slowly.

Katkincake · 01/02/2022 16:36

We’re about to go the market and this is what’s worrying me (in the west mids). We know ours will be snapped up as there’s nothing coming on the market, but the odds of us finding something to replace it with are slim. We’re just relocating a mile and a bit across our town to be nearer to son’s school and settled in a different catchment before secondary applications.

Pondering whether we’d consider selling and renting for a bit even though we absolutely don’t want to do it, as we did it when we relocated here in 2020. We also don’t want to pay early redemption fees if we can help it. We had to jump on this place as we were buying in the hot market after 1st lockdown, hence it’s not right for us.

Wish we had time to make a more leisurely decision on the next one, but that doesn’t look like it’ll be possible.

Iamthedom · 01/02/2022 17:35

I think it’s even harder if selling often as estate agents won’t even let you view a house unless your house is on the market or your a first time buyer with a big deposit
So you can’t even get an idea if a house is suitable for you unless you have yours up for sale
My estate agent had a list of people who got first chance to view the my late parents house before anyone else did
They were in the house early on the viewing day
So most of the viewers offered straight away as even though the house is a complete renovation project it was gone in 60 seconds 😂