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Original poster

What's the property market like where you are at the moment?

60 replies

nellytheelephant1980 · 12/09/2022 16:45

We went on the market 3 weeks ago. We had about 15 views in the first week and this resulted in 2 offers - we accepted the highest one obviously. However they haven't sold, so whilst we accepted, we haven't come off the market.

The last 2 weeks we haven't had any viewings Confused the estate agent said things are generally quiet, it's not just our house.

We are South England btw

OP posts:
knickersniff · 13/09/2022 16:00

Stagnant , nothing is selling or it goes under offer then comes back on . Essex

ecochiroptera · 13/09/2022 16:32

Very quiet. Not much seems to be selling according to RM and my EA. My own house isn't either. This is on the SE/SW border. It seems to be even slower where I am looking to buy in the NW. I've startes saving 'inspo' houses back in April and anything that I added to my list after mid July has yet to be sold.

Roselilly36 · 14/09/2022 07:58

I would never accept an offer if the buyer wasn’t in a position to progress the purchase. We moved 18mths ago, our Estate Agent knew we wouldn’t have viewers that weren’t ready.

I am in East Anglia, yes market was mad here, but definitely seems to be cooling, lots coming on the market at very optimistic prices, only to be reduced within a couple of weeks.

I think a lot of people are holding on atm to see how the market reacts to COL increases, BOE bank rate announcement delayed til 22 September due to Queens passing, fully expecting a further rise. New PM, so many factors that could effect the market.

good luck OP

dancemonke · 14/09/2022 10:09

Dartmoor's come to a rather grinding halt. I think quite a few sellers are having a bit of a shock.

TheYearOfSmallThings · 14/09/2022 10:13

It seems ok in East London - I'm not getting a feeling of much activity but when I looked up a neighbour's house (to pry into how much they sold it for) I notice there have been the usual number of sales at healthy prices. I'm not seeing signs up, which usually means they sell quickly.

TheYearOfSmallThings · 14/09/2022 10:14

There is definitely no buying frenzy though, which I have seen in the past.

Sprig1 · 14/09/2022 10:31

Is your 2nd offer proceedable? If so, I would be accepting their offer and trying to get the house sold ASAP. Things are cooling significantly here (Wiltshire).

PermanentTemporary · 14/09/2022 10:34

Definitely volatile with lots of people pulling out of offers for various reasons. I've just put mine on the market - we'll see.

PermanentTemporary · 14/09/2022 10:47

Sorry I'm SE. My niece in Leeds is struggling to get hers actually sold.

emmathedilemma · 14/09/2022 10:58

I'm in Edinburgh and whilst not buying or selling I keep a regular eye on what's on the market. I would say there is definitely less new stuff coming on than there was and most is still selling fairly fast (within a few weeks) but probably not as fast as it was.....previously things were under offer by the time the "for sale" sign went up! There seems to be less in the 3-4 bed family house type market which were flying off the shelves previously and quite a lot coming on at the lower end, 1 bed flat, ex-social housing type properties. I suspect we'll also see a lot of airbnb rentals start to appear as the council is about to implement a licensing scheme for short term lets.

WimbyAce · 14/09/2022 11:47

People are still trying their luck with high prices but seeing a lot of reductions and property hanging about for a while. We are waiting now to see how things look next year since ours all fell through. Hoping next Spring will be more "normal".

hedgehogscrossing · 14/09/2022 11:49

@dancemonke can I ask if you know the Okehampton area?

Worldgonecrazy · 14/09/2022 11:51

West Midlands (commuterville for Birmingham and London). Properties going under offer within a week.

Southwest tourist spot but also just about commutable to London, properties going under offer within a week then withdrawn as the sellers can’t find anywhere.

Both areas are in the £400k for a 2 bed - £750k for a 4 bed bracket.

knickersniff · 14/09/2022 15:22

3 more reductions today . I do think these past 2 years have sent most estate agents abit loopy with their pricing . The boom has definitely ended .

Whammyyammy · 14/09/2022 16:28

South West, market seems to have slowed, properties taking about 2 weeks from listed to sold, was less than a week before.

NoWordForFluffy · 14/09/2022 18:51

NW coast. Things are definitely slowing, and there are more houses advertised in the sub-£200k bracket than the last year or so has seen. I keep getting a sense of deja vu with things arriving back on the market a few months after being 'sold'.

We still have the majority listed at 'offers over', but that trend is also dropping a bit (thankfully!).

Coconutree · 14/09/2022 19:06

Midlands, slowed right down. A few big houses sstc months ago came back to the market.

rrrrrreatt · 14/09/2022 19:16

We’re in Manchester and it’s definitely slowed. We had an offer accepted in Easter but the wheels are falling off our “quick straightforward” chain so we’ve reluctantly dipped our toe back in the market to see what’s out there.

In Spring you had to be super quick and it was all open houses & offers well over asking, now there’s only a few places coming up a week and the dynamic feels v different. There seems to be a lot more reductions on Rightmove now too, only houses in good condition and priced keenly seem to be going quick now.

Viewed a house today and the agent was keen to tell us there was still plenty of demand and it’s just the time of year. We won’t be offering on today’s viewing - it was small and in poor condition for the asking, let alone offers over! At this rate we might wait the many months our chain will take to get back on track and take the interest hit on our mortgage - the house we’re buying has more space and period features than most currently for sale.

intothedeepblue · 14/09/2022 21:54

It's slowed down in the SW. Lots of properties being reduced.

charabang · 15/09/2022 00:22

Midlands here. I moved into my property in May having sucessfully bid for it in December when the market was bonkers. I literally could not to viewings quickly enough before they were snapped up and was very lucky to get in quickly enough to secure my current home. I have noticed now though that houses are hanging around and there are quite a few dropping the asking price. Definitely slowing.

Sunflowergirl1 · 15/09/2022 07:30

Slowed massively in Yorkshire plus a rash of shops and restaurants closing around us citing rising costs.

A grim time coming and includes house prices and sales

Cervinia · 15/09/2022 07:42

I’m also in Yorkshire and would agree with missdollymix

Cervinia · 15/09/2022 07:46

PermanentTemporary · 14/09/2022 10:47

Sorry I'm SE. My niece in Leeds is struggling to get hers actually sold.

Interested, Which area of Leeds as I don’t see this in North Leeds?

Doubleraspberry · 15/09/2022 12:38

I’ve just seen a house come on the market about 50m from one that has been on the market unsold for months. The new house is bigger, and in better condition, than the unsold one and has come on for £180,000 less than the other one. I’ll be interested to see how quickly it sells.

We viewed the lingering one weeks ago and said at the time that it was hugely overpriced and were told that the owner felt that was what it was worth, because of where it is. It needs work doing, including a new kitchen, whereas the other cheaper house is the finished article.

I wonder whether the first house would have sold at its asking price a year ago when things were manic.

LunarC · 15/09/2022 13:17

Selling ours in the South East (Berkshire) and prices here seem to be fairly stable - those sensibly priced are moving quickly.

Buying property with land in South West (Devon) - prices are still high with lots of interest / viewings the moment a property comes to market. That said, a lot seem to come with problems. We've had an offer accepted but the house needs re-roofing, re-wiring, re-rendering, re-plastering, new septic tank, it's riddled with damp and live wood worm and we'll probably need to install french drains to try and dry it out. Renovation costs are currently edging towards £200k and the vendor is very reluctant to reduce the purchase price. Getting a bit stressed by it all as construction costs are continuing to rise whereas our salaries aren't!