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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.

OP posts:
Original poster
HalleLouja · 06/04/2022 21:26

I found this house which could be transformed into this house.

OP posts:
Original poster
HalleLouja · 06/04/2022 21:27

Posted to soon. Architect friend says it will be £180k to make all the changes 😭😭😭

OP posts:
MabelMoo23 · 06/04/2022 21:43

Same here. We are under offer but have nowhere to go. I’m in the Midlands. There is nothing out there! Our budget is £575k and there is so little in our price bracket

I know we are going to lose our buyer, we’ve got a short chain so they will start getting restless after a while.

LedTasso · 07/04/2022 08:16

A house we weren't quick enough to view has gone for 100k over asking. It makes it impossible to know what's even worth viewing, such a massive waste of time. I'm fed up!

@HalleLouja apparently it's very hard to get tradespeople at the moment, and there are also lots of construction product shortages. Just to add to the fun.

Original poster
HalleLouja · 07/04/2022 08:24

It seems a bloody nightmare getting work done. I have emailed the EA to pass on the news. EA thought it would be nearer £120k…..

OP posts:
AnastasiaRomanov · 07/04/2022 08:30

@HalleLouja

Posted to soon. Architect friend says it will be £180k to make all the changes 😭😭😭
I don’t understand. Is the second picture a similar house on the street?
AnastasiaRomanov · 07/04/2022 08:35

Is it possible to view without having sold? We are worried about selling and then not finding anything , particularly as we want to move some distance. We know our house will sell very quickly.

Whinge · 07/04/2022 08:37

@AnastasiaRomanov

Is it possible to view without having sold? We are worried about selling and then not finding anything , particularly as we want to move some distance. We know our house will sell very quickly.
I guess it depends on your area. In mine it would impossible to view any new houses coming onto the market if you're not in a proceedable position. However, there might be a chance to view if the house has been on the market for a while.
AnastasiaRomanov · 07/04/2022 08:41

Yes that’s the issue. I really don’t want to end up in rental wirh two lots of moving costs and all the disruption.

WhatTheWhoTheWhatThe · 07/04/2022 09:18

We’ve decided to list ours knowing there is not a lot on the market, looking at right move if you tick show SSTC twice as much comes up from recent weeks that never even made it to being advertised so I think at least if we’re on the market and under offer we can move quickly if something comes up. Hopefully once I’ve visited all the estate agents they will contact us if they get a whiff of something that might be suitable.
It’s a bit chicken and egg really but two years ago we missed out on a house we really wanted because we viewed whilst not on the market and it went very quickly whilst were were still getting valuations.

I won’t go into rental if we have a buyer before we find something we’ll just be straight with whoever makes an offer about the situation.

hypaingea · 07/04/2022 09:23

We have sold & struggling to find stuff. However certainly more has started to come on & even seen some reductions. 2 EA i've spoken too are convinced more will come on soon & it's been a cycle of people not selling because they can't find anything which is holding stuff back ✌🏼

hypaingea · 07/04/2022 09:23

I meant fingers x!

hypaingea · 07/04/2022 09:26

I won't pull out of the sale if we don't find anywhere, luckily I can stay with family.

Webbedlife · 07/04/2022 13:57

Finally made an offer this week - the property was a compromise anyway with only a downstairs bathroom, although lovely. We offered over, but it was rejected so I guess there was either a higher bidder or one more attractive in another way. Another one we're supposed to be viewing this weekend has been de-listed. Whether sold or vendor changed their mind, who knows as the EA hasn't contacted us - we've emailed to clarify. No sign of more properties coming on in the areas I'm looking in save for ones on an ex housing estate I've been warned off by local friends, with the prices inflated compared to a few weeks back.

Original poster
HalleLouja · 07/04/2022 19:05

@AnastasiaRomanov its the same base house but extended massively.

OP posts:
StellaAndCrow · 07/04/2022 20:16

I put in an offer on a house locally that said "offers over £200K" - my offer was well over but it went to someone who offered over £250k!

StellaAndCrow · 07/04/2022 20:18

OP that house before the changes is still lovely, looks like my dream house!

Original poster
HalleLouja · 07/04/2022 22:17

@StellaAndCrow

OP that house before the changes is still lovely, looks like my dream house!
The bedrooms wouldn’t really work for us. Its in a great spot though.

We are now going to look at a house which we had previously written off on location but now having a drive and looking at it properly it seems like it might be a great fit. Plus its super close to the kids school. Its newly done up and design wise hits most of my spots.

OP posts:
StellaAndCrow · 08/04/2022 00:02

I hope you find something that works for you OP. Good luck.

AnastasiaRomanov · 08/04/2022 08:03

Houses are going for £100,000 over in some cases near me. It’s a great time to sell but not a great time to buy.

ByeByeMissAmericanPie · 08/04/2022 08:35

I’m a cash buyer in rented. Been looking since September. Am up against what feels like hundreds of families decamped from London all renting with cash in the bank searching for a house in the catchment area of an excellent state school.

All going for 10% and more than the ‘Guide Price’.

I’m off to see a lovely looking house next week that’s being marketed discreetly, but from what I can make out the vendors seem undecided about what they want to do…

I can see it all going tits up as I make an offer and they can’t find anywhere to go. It’s happened a few times since I’ve started looking.

Nothappyatwork · 08/04/2022 08:44

This is exactly what it was like in 2007 and we all know what happened in 2008 so whilst I don’t think there’s gonna be a crash as such I personally would just sit this one out unless you are desperate to move and really re-evaluate what desperate means are you homeless if not stay where you are

Bedsheets4knickers · 08/04/2022 10:15

@Nothappyatwork

This is exactly what it was like in 2007 and we all know what happened in 2008 so whilst I don’t think there’s gonna be a crash as such I personally would just sit this one out unless you are desperate to move and really re-evaluate what desperate means are you homeless if not stay where you are
Yep we are sitting it out . People are paying silly money right now and we are in a financial mess . It's already coming to a stop around here and everything is getting reduced . Another year hopefully it'll be more stable . Our friends have just bought a house already reduced from their survey thought they had a good deal . It's far from that and is either going to make them fix the wrongs cheaply or pay for it to be put right.
glowingcandle · 08/04/2022 10:31

It feels like this has been going on for ages now. We started looking at the start if last year and it was already like this back then.

We've since bought, we just remortgaged and the bank valued our house nearly 10% higher than what we paid for it. Which seems a bit mad.

whoatealltheeggs · 08/04/2022 10:34

. Am up against what feels like hundreds of families decamped from London all renting with cash in the bank searching for a house in the catchment area of an excellent state school.

this will be me soon but as a Londoner I'm priced out of anything bigger so we have to go somewhere

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