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Original poster

Lack of houses on the market

156 replies

HalleLouja · 28/03/2022 20:59

We have put our house on the market (just outside St Albans) and have quite a few viewings in the last couple of weeks since its been on the market and even an offer (which is too low). But typically there is nothing that hits our brief on the market.

I know no-one has a crystal ball but do people think the market will pick up? Not sure why I am asking but maybe to find other people in the same boat.

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WhatTheWhoTheWhatThe · 28/03/2022 21:25

Yes there’s very little on the market in my area. Previously there would be 80 to 90 properties on rightmove at anyone time (pre covid) now it’s usually between 20 and 30.

We are actually going to view something this week and we’re getting ours valued but If the one we’re seeing is a non starter then I don’t see much point putting ours on. We’re restricted by area because of schools so can’t widen the net to increase chances of finding something. Also it seems that vast majority of things for sale are new build but we’ve done 20 years in a new build and whilst it served us well I want to move away from that type of estate set up.

Original poster
HalleLouja · 28/03/2022 22:23

We too are limited by schools as both my DC will need to get to secondary school…. Otherwise there are quite a few schools nearby which hit our criteria.

The reason we put ours on the market is that houses which are priced fairly get snapped up, so you need to be in it to win it….

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Katkincake · 28/03/2022 22:32

We went early to get ahead and be sold before things started coming on the market (agreed sale mid-feb) we’ve only seen 3 properties since then, one of which we offered on today (they want to do more viewings with other buyers before deciding - we’ve been only ones to view it so far). Like you, there are only handful of localities in our town we can chose from for the secondary school catchment.

However there has been more come on over the last week than the preceding weeks so it looks like it’s finally starting to pick up here.

Hope your next place is just around the corner

Original poster
HalleLouja · 29/03/2022 08:01

It does seem to be picking up. Just need one house that fits the bill and we think is worth moving for to come up.

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Londongent · 29/03/2022 12:02

I think a lot of people who had been thinking about selling, accelerated their plans when the stamp duty exemption came in. I think this is contributing to the lack of supply.
Also cost of living crisis, interest rates rising, people are unsure if it is wise to make a move now. The problem is house prices are still being kept high simply because the demand is there, but the supply isn't.
I think people are concerned that if they buy now they are buying at peak value.

Londongent · 29/03/2022 12:02

*peak price, not value

LedTasso · 29/03/2022 12:07

Yep same boat here. Actually pretty stressed about it now. We've accepted an offer on our house but there is very little on the market. Tried to book some viewings for the weekend and one house is already completely booked up. I'm feeling really down about it. I suppose lots of people are in the same boat as us now, i.e. able to move because of flexible working. We want to move to the south west, so we can be closer to family and my kids can grow up near their cousins and grandparents. It seems to be very popular, and we can't compete with those who've built up loads of equity in London/ Bristol. Budget is 650ish, feels like doesn't get you much at all!

MissDollyMix · 29/03/2022 12:10

Oh this is so familiar. I hope you find something soon. At the moment there are only 3 houses for sale in our (wide) price bracket in the right (but large) catchment area. I don’t think I have a particularly fussy brief. I don’t see how estate agents are making any money at the moment.

Original poster
HalleLouja · 29/03/2022 19:16

My house is now under offer. Eeeekkkkk.

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Sandinmyhooves · 29/03/2022 19:20

It’s a strange market where demand is really outstripping supply - 40% higher demand up on last year but up to 42% percent fewer houses currently on the market as compared to last year (although stamp duty skews that a little) plus house prices still rising.

GreeboIsMySpiritAnimal · 29/03/2022 19:46

We are in St Albans. Briefly considered putting ours on the market recently, consulted a couple of agents, decided against it.

I get calls and emails from them at least once a week, asking us to reconsider, telling us the market's at its peak, they can get us more than the asking price, etc, etc. They do sound a bit desperate.

But we're not in any rush to move, and actually may not move at all, and there's nothing on the market we want to buy atm.

I may regret it if the market tanks, but we could stay put if necessary. Our house is small but staying would help keep our cost of living down, so wouldn't be the worst thing in a struggling economy.

Sandinmyhooves · 29/03/2022 21:42

If it tanks then you lose out but you also end up with a cheaper home so…

Bedsheets4knickers · 30/03/2022 07:02

Nothing new coming on in our area and what's on currently are now being reduced . Essex

Original poster
HalleLouja · 30/03/2022 08:05

We are going to look at a new build near ours to see what they are like.

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LakieLady · 30/03/2022 09:25

My SIL and her DH are cash buyers looking for somewhere with potential to extend/renovate/redevelop in or around Tunbridge Wells.

They got a call from an agent on Friday afternoon about a property, rang the agent on Saturday morning and were told that the agents already had numerous offers and the highest was already 30% above the asking price (and 30% of over half a mill is a lot of money).

Some of the offers came from people who hadn't even seen it.

Original poster
HalleLouja · 30/03/2022 22:27

The property market is really in a strange place but it does seem to be picking up. The over priced houses are be going to more realistic levels and some possibilities are emerging.

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AnastasiaRomanov · 30/03/2022 23:00

I think it will pick up now Spring is on its way.
The area we are in Houses are going for way over asking price. We don’t want to have to go into rental but the area we are looking at moving to is some distance away. I’m worried if we buy something at vastly inflated prices we may end up not being able to sell for the same or more at a later point. It’s so difficult to know what to do.
We have a healthy budget but still very little available .

dubyalass · 30/03/2022 23:09

Still completely insane here in Cornwall. I'm in rented - when I first moved in this time last year I thought it would be for a few months while I bought somewhere. How naive I was! I think I've viewed four or five houses in the past year, there are a few I didn't view because they were at the top of my budget at the time and I didn't want to over commit myself, but now I'm kicking myself. Everything halfway decent is going to best and final offers well over asking. I'm rapidly being priced out. Getting to the point where I'll just buy anything to get on the ladder but scared I'll end up repenting at leisure with something unsellable!

sadlyrefreshingrightmove · 30/03/2022 23:38

We are under offer but buyer is getting restless because we haven't found anywhere.

Market seems to be things that go immediately or wildly overpriced properties that sit around for months and are now slowly going through reductions.

Feel like some of the more greedy sellers have pushed it a bit far and are not getting any bites. I've had a few agents tell me proactively that if the price doesn't work there's probably flexibility on price, and that's for properties which have only been up for 1-2 weeks. Hoping this is a sign things will get a bit better, but I think it's more likely that people will just hold tight....

tokyo1 · 31/03/2022 10:12

This is so annoying. We've been looking a while (south bucks) and I've been so proactive calling up when there's been a new suitable posting. Just one came up yesterday evening (after hours) and I tried to call, went to voicemail. So left a message saying we wanted to view this house. Also emailed. Missed a call at 9:20 but rang 9:40 only to be told all the viewing slots had gone Confused it's insane! We also offered on two houses (over asking) and got outbid very significantly. So that's fun. Sigh! I hope the market picks up Sad

SugarDatesandPistachios · 31/03/2022 14:55

Demand far outstripping supply here in my part of Wales. Anything good and well prices gone in a flash. Only dregs and overpriced remains.

Original poster
HalleLouja · 31/03/2022 21:21

So I went to see a new house they are building in my village. Its being built by a reputable builder, who usually build high end houses….. I might be in love. Just need my husband to see it too.

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Original poster
HalleLouja · 03/04/2022 18:15

My DH made an important point. With the severe lack of properties are we considering properties we would have ignored in a normal market?

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SerialNameChanger2114 · 03/04/2022 19:32

Totally the same down the road in Aylesbury.

Absolutely nothing! Looks like we will be staying in our flat for another year while the oldest does his 11 plus and I finish my healthcare degree. Then perhaps looking a bit further afield 😫

Katkincake · 05/04/2022 12:46

Lost out on the property we offered on. We went £10k above asking, other buyers added another £10k to that, we ducked out as just didn’t want to keep bidding against each other. House was on £125k below ours so we could afford it, but just didn’t want to spend that much on it with the work that needed doing and it’s potential ceiling value.

Think we’ll deffo be going into a rental if nothing comes on before end of Easter holidays. Not sure whether to go for a small rental to save some money or look at bigger house as we could be there sometime?