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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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stuntbubbles · 19/04/2022 20:17

I checked the entire county. Six houses. All crap.

My estate agent (the one we’re selling with) isn’t worried, he thinks the influx will be next week, for some reason. 🔮

YukoandHiro · 19/04/2022 21:05

We finally had an offer accepted today. The relief!
I know it's only first stage but I'm just so glad I don't have to look at RM for a few weeks at least!

Horriblewoman · 19/04/2022 21:44

Shout out to everyone looking in SE London!

I too was expecting my inbox to be inundated with emails of new properties today but there's only been three and one has been on for ages and is now reduced.

Original poster
HalleLouja · 20/04/2022 18:44

A couple of houses have come up today which deserve a look round. Keeps fingers crossed.

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stuntbubbles · 20/04/2022 19:27

One thing landed today, one – and it’s £8k over our very very max budget AND, rudely, it sold last summer marketed at £590, that sale has clearly fallen through but they want £650-675! I want a time machine. 😭

Bedsheets4knickers · 20/04/2022 20:18

We've had 6 houses come on in the last two days

Katkincake · 20/04/2022 23:11

Hello, back from our long weekend away to a continued a barren wasteland of properties. Just one (unsuitable) property in our search area has come on market since last weds! We’re seeing a place Saturday morning but my heart’s not in it, I would have vetoed it in a more buoyant market.

We’ve upped our offer on a house we love, but I think we’ll miss out to chain free buyers who’ve also offered, at least we’ll have got the vendor more £s if we do.

@stuntbubbles your DH needs to be handed a list of what you’re going to view and have no say over it until he gets there. Thankfully my DH is aware of stagnant market, but still only casually checking RM once a day

oiltrader · 21/04/2022 02:33

Londongent · 29/03/2022 12:02

*peak price, not value

correct

ByeByeMissAmericanPie · 21/04/2022 06:33

I’m 40 miles southwest of London and I’m getting 2-3 houses a day through from estate agents. A few then seem to be trickling onto RM, but most being sold off the market.

I may have put an offer in on one that’s been accepted. 🙂 They have nowhere to go at the moment, so I’ve said I’d delay completion for as looooong as they want…. BUT I WANT TO EXCHANGE NOW…. NOW!! 🤣🤣🤣

I can’t take the uncertainty for much longer. Argh

Original poster
HalleLouja · 23/04/2022 10:29

Seeing 4 houses today. One might be the one but think there will be a bidding war. So unlikely to get it. Another is in popular street but overpriced and bedrooms are too small.
One needs a major refurb and the other looks great but is almost at the end of our garden. 😂😂😂

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ArseInTheCoOpWindow · 23/04/2022 10:39

I see no point in sitting it out. If you’re buying in a hood area, prices won’t come down.

They stabilise in neutral areas and drop in unpopular places.

Im 58, all the houses I’ve bought in my life continued to rise.

LedTasso · 23/04/2022 13:57

We're going to offer on one but there will almost certainly be a bidding war and it's pretty much top of our budget anyway. Probably go to someone chain free as well I reckon. I am starting to despair 😣

Original poster
HalleLouja · 23/04/2022 18:49

LedTasso · 23/04/2022 13:57

We're going to offer on one but there will almost certainly be a bidding war and it's pretty much top of our budget anyway. Probably go to someone chain free as well I reckon. I am starting to despair 😣

Its so frustrating. This whole bidding war malarkey seems stressful.

We really liked the overpriced house. More than we thought we would.

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Original poster
HalleLouja · 25/04/2022 19:30

We put an offer in one the overpriced house Confused
One of the other houses we saw has gone for way over asking. The lack of houses has lead to price inflation.

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Didyousaysomethingdarling · 25/04/2022 19:54

I read an article today, which said for every 10 houses under offer ONLY 3 houses are bought to market. That must be having a massive affect on the supply.

“Roughly speaking, for every 10 homes sold so far in 2022 only three of those buyers will bring a home onto the market to sell, creating a chain.”

^www.estateagenttoday.co.uk/breaking-news/2022/4/record-numbers-of-homes-are-being-sold-chain-free^

stuntbubbles · 25/04/2022 20:03

We really liked the overpriced house. More than we thought we would.
I saw two today: one I expected to LURVE and I just didn’t click with it, though technically it ticked all our boxes with TWO WFH spaces (hallelujah!) and a massive garden. Location all wrong though, alas.

The other I went to muttering to myself how it wouldn’t be any good and was all smoke and mirrors, and found myself utterly smitten. Perfect house, perfect neighbourhood, except the garden is a smidge too small to handle a home office. And we need one! There’s naff all else on the market: this house would be The One if the garden were just bigger…

tiledo · 25/04/2022 20:18

I lost out on another house last week, we went 20k over & bear in the mind the starting price was already ambitious. Feel so deflated, the EA couldn't say what it went for but said very likely to get downvalued. Not sure if we are making a mistake by offering a "sensible" amount or next time we should offer loads & renegotiate when downvalued.

tiledo · 25/04/2022 20:20

we are also chain free but still can't compete it seems.

dubyalass · 25/04/2022 22:29

Got another viewing this weekend but it's already got several offers on it. Honestly don't know what to do, whether to bother. It's not in my preferred location, it's on a busy road.

Katkincake · 27/04/2022 06:44

We’ve told our agents to let our buyers know that we’ll go into a rental, so they can start searches and surveys etc. There has been nothing suitable come on so since we sold in Jan we’re going to take our time to find the right place.

We’d stay put for a another 12-18mths and try again if we were in right location, but we need to move closer to DS school so that I can walk him in and husband can start travelling for work. (I’ve had to give up my driving licence due to epilepsy). Plus we would rather get the house sold soon if properties are starting to get down valued and potential slow down.

Rental market is just as hot with not many properties, but doesn’t need to be as tick box as buying, as long as it’s in the right location. What’s the betting we find the right place as soon as we sign the tenancy agreement? 🙄

Original poster
HalleLouja · 27/04/2022 08:11

The sellers of the overpriced house have come down quite a bit and would have agreed with the purchase. However, the house which inspired us to put ours on the market in the first place is back up for sale, so we are going to see that before deciding.

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Original poster
HalleLouja · 27/04/2022 08:12

Rental market is just as hot with not many properties, but doesn’t need to be as tick box as buying, as long as it’s in the right location. What’s the betting we find the right place as soon as we sign the tenancy agreement? 🙄

That is exactly what is going to happen.

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AnastasiaRomanov · 27/04/2022 10:15

Rental properties are so expensive, the cost of going into rental for potentially a year, on top of extra moving and storage costs could eat up a big chunk of house proceeds. It’s a difficult one to weigh up. Especially if you have pets.

Katkincake · 27/04/2022 21:37

@AnastasiaRomanov yup, it won’t be cheap, plus we’ll have significant early redemption fees as took out a 5yr fix 2yrs ago. 😬Had a grand idea that we could offer to rent my parents place at a reduced rate and they could go travelling with the proceeds for a year. DH isn’t keen 😆

Buyers commissioned their survey straight away today, first date they can do is in a months time, so there’s time yet to keep looking. We have a caravan so could always use that for a few weeks in between properties if something does come up soon 😂

Original poster
HalleLouja · 30/04/2022 19:56

So we have had an offer accepted on over priced house at a bit lower than the original price. Eeekkkk.

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