Is the market slowing?

[Fritilleries]

Same 71 houses meeting a set criteria for a few weeks now. All overpriced/old/weirdly organised/hideously decorated. In NW. Doubt it'll crash but is anyone expecting a period of slow prices?

Slowing here for sure. More falling through and coming back on. New places coming on are generally guide price rather than offers over. Things sitting there unsold for weeks but others going fairly quickly.

SW London here and houses still flying off after one weekend of viewing.

Nothing new has come on the past week to replace the ones sold two weeks ago. I’m crossing my fingers some more properties come on soon as had 14 other offers on the one we offered on last week and sadly missed out on.

Don't think so. decent property still go above asking and many buyers compete, however, those not so attractive or without garden one, are dropping price.
Observed several dropped 25k after 3-4 weeks on Rightmove.

Today still got EA letter, saying not enough stock on the market, demand still high, encourage house owner to get valuation with them... (East London Z3)

I've seen a few coming back on after previously being sstc, and a few which haven't shifted now going to a fixed price. Still the most popular house types going to a bidding war and people putting offers on for houses that they aren't even 100% keen on. Mixed bag I think.

We had 2 come back on today im guessing a bidding war took place and the bank said No . 🤷🏻‍♀️

Anyone working in property and being honest will tell you that the market is cooling and that their Q3 and Q4 forecasts are horrible. Some areas are lagging but it's inevitable. You can't have 10% inflation, rising interest rates, tightening mortgage restrictions and a looming recession and expect housing to keep rising. It might be stagnation rather than a crash but it's not going to keep rising.

We've been told (by broker) houses are coming back on the market because of lenders pulling their previously advertised products at the last minute to keep up with BOE interest rates. So if someone's got an MIP for £500K for example at 2.5%, that rate/product might not exist by the time they get to exchange, etc. it's madness.

I put my mums very average 3bed in need of updating house on the market yesterday (I think it's overpriced but I live in the north, it's in the south - tbf it priced in a similar bracket to other stuff nearby) - It has 8viewings booked for tomorrow already so I'm guessing it's still fairly busy round there.

But wouldn't they just reapply for a new product? I don't understand why that would put properties back on the market. Unless they fibbed you get the MIP and can't actually get the mortgage. Or the bank won't lend on that property because of the LTV. Or their finances were so tight that they can't afford the monthly repayments on the new product. I think we can't trust anyone with a vested interest in keeping the housing market buoyant - EAs, brokers, developers. They want confidence high and buyers continuing to panic buy for as long as possible.

There will be a crash. It’s inevitable.

When? Next month? In 2075?

Everyone was saying that there would be a crash when I bought almost 2 years ago. Glad that I didn't take any notice!

I think it's highly unlikely that they'll be a crash, this isn't 2008. Maybe a minor dip, but not a crash.

Usually said by people who have been waiting to buy forever.