If you're in inner London and buying\selling how's it going?

[Monty27]

I've accepted an offer over asking price. I was horrified and yet delighted.
Now I can't find anything to buy to downsize around the same area.
What is going on? 😟
South East here

South East here as well but upsizing. About to go on the market this week, but no idea what is going to happen as there is next to nothing in our price range that is even vaguely suitable (want to stay in the same area and restricted a bit by schools).

Houses selling like hot cakes, flats seem utterly stagnant

I've been looking. Flats have very little for the money. Shared gardens or no garden.
Anything decent is Megabucks and whipped up quickly.

There's a thread on property about selling and still not finding anything, I think they're on the 3rd thread.

I've listed and had one offer under asking price, however there aren't any houses in my price bracket. Plus, houses are being sold directly to EA registered buyers before being advertised on RM. Also, ftb and cash buyers are snapping property up over the asking price. All of these things have resulted in a fast market so you've got to be ready to proceed quickly if you see something you like.

Also in SE London. We had our beautiful flat listed on the market for a month. We had someone prepared to offer close to asking price but ended up rejecting it because there is nowhere to buy locally. The estate agents promised us there would be loads coming on the market as soon as easter holidays hit but its been tumbleweed here. We love the area and want to stay for the schools and community. So we are staying put and going to make a few internal changes to make this flat work for a few more years. This will free up money for other things like holidays and experiences with the kids.

Still haven't found anything. I'm going to see a small house tomorrow but I fear it's been bastardised by someone from Homes Under the Hammer

Got a 2 bed flat in Marylebone and apparently it’s lost a fair chunk of value the estate agents tell me.

Our house in naice SE London has been on the market for two months with no offers. Reduced the price but no joy. It’s a really lovely house with some quirks which means it won’t suit everyone. We’re finally able to switch agents soon and I’m hoping that will make a difference as the current lot have been very unimpressive.

Anyone inner London with a 2+ bed house and garden or ground floor conversion with private garden feel free to message me 😃

SE London too - literally nothing on the market (which is annoying as my dream house changed hands last July when we weren’t in a position to put an offer in).

There are two houses in my price range and area - both hideously overpriced (by about 30%) and have been stuck there for over six months (one was taken off the market, changed agents and remarketed at an even higher price, which I think showed some chutzpah - still hasn’t sold).

Everything else remotely decent (which has only been 2-3 houses over the past six months) has gone to sealed bids. We don’t need to move urgently, so I don’t want to go to sealed bids when interest rates are going up.

The sealed bids business is exacerbating the lack of transparency and the charade that is the current housing market

We sold my Dads 2 bed in Marylebone recently - it had lost money too and we were forced in the end to accept an offer well under asking, I’m talking over 100k

Ouch. :( That’s a hefty drop.

Yup... beware of agents overestimating the valuation to win business. Dexters seem particularly guilty of this

Yep - I’m not paying £1.1m for a house that was worth £800k less than six months ago, just because there aren’t many in the market.