Is there suddenly a lot coming onto the market/lots of reductions in your area ?

[Poppingboba]

I have noticed it in my area where there was a shortage for years. Is this the start of a proper slowdown?

Not where I am looking

No, still going for 15-20% over the home report.

I'm seeing slightly less coming on the market, quite a few reductions and the new ones that do come on are much more realistically priced.

Quite a few have been taken off the market without selling.

Massively slow where we are.

Quite a few have been taken off the market without selling.

Yes, those seem to disappear and reappear cyclically. It could be that a whole bunch of them have all been put back on at once in our area. It was only two months ago that we got a flyer through saying that a house on our road have twenty offers from a single open day and how buyers were desperate.

there is alot coming on the market for stupid prices (Lincolnshire). people that are pretty much trying to double their money in 2 years! all these properties are being reduced and switching to different estate agents.
i think people have lost their minds a bit and don't seem to be able to understand that with the cost of everything and inflation have brought the house prices down. ( this however is not the same for everywhere, i'm just stating that its the case in Lincolnshire)

Very much so around here, lots of reductions on the higher end properties. Although the asking prices were complete fantasy as they were aimed at Londoners fleeing for space, which have now dried up.

Not that much coming onto the market around here (Shropshire) and those that are are not selling swiftly although I am seeing more SSTC on ones that were on before Xmas. Many have been on the market since last July / August still without reduction, makes you wonder if they just don't want to sell or are holding out for a miracle buyer who will pay the price.

A local example, this bungalow was purchased in 2017 for 410 and then had a modernisation last year. Listed initially at 950 now reduced to 899. It probably won't sell until it gets down to about 700. Next door sold for 650 in mid 2021.

www.rightmove.co.uk/properties/127219793#/?channel=RES_BUY

@Fedupofdiets I'm not seeing that, we are in Shropshire too and am seeing quite a lot coming on in the 500-900 range. At the sub 150k range there are loads coming on as the buy to let people sell up.

@TheNoonBell You live near me!

Sorry, I have not been looking at wider Shropshire just the bit where i live.

There’s a glut of big expensive houses near me ( think 4 bed plus in the most desirable areas selling for 1 million plus). I think it’s empty nesters looking to cash in before the market turns down. As pp said, some come on and then go off again when not sold. Quite a few reductions. These houses would have sold unseen at asking or above to London buyers a year or so ago. It was nuts. However, there’s a shortage of mid market properties, both sales and rentals.

this property was brought at the end of 2020 for £337k....they have done nothing to the bungalow but originally had it on for £650k....they have now reduced it to offers in excess of £595k.....they will never get this price for the property in this area.

www.rightmove.co.uk/properties/128252132#/?channel=RES_BUY

@Fedupofdiets Yep, only moved up a few years ago from the SE and am loving it. Wish I did it years ago!

This morning I got to watch the deer rutting in the garden which was amazing 😁

@TheNoonBell I moved from Brum 20 months ago, best move of my life I adore it here. I have however made a mistake with the house I bought (victorian mid terrace) and am hoping to move over the next 18 months if anything I like ever comes up 😫

@Fedupofdiets Fingers and toes crossed for you!

It's difficult because if you feel you are taking a stand against silly pricing, you get told that you are being taken for a mug. if you go with the highest valuation then you get told the same thing!

I have an alert set up for a search area my daughter is interested in buying in. I set it up 2 weeks ago and all I've had so far are reductions and only one new to the market . Definitely cooled down here.

Not much coming onto the market where I am looking. Lower end of market, worcestershire / Herefordshire.. or maybe I'm just picky. I wish there was lots more choice!

I'm definitely seeing more reductions & quite big ones.

We've had quite a few reductions from properties that went on in October/ early November but also quite a few new properties in the last week.

The biggest reductions are from new builds. Lots have offers of £1,000 a month towards your mortgage for 2 years on top of the reductions.

No...here in trendy east london...sealed bids still the norm as so little for sale, bank of mum and dad still pushing up the prices...no shortages of cash to splash around her...skips outside within days...big money being spent !

Definitely cooled where I am. The expensive stuff isn’t shifting and the lower-priced stuff which would’ve been snapped up by Londoners is hanging around.

Ironically it’s the expensive stuff which isn’t being reduced…

I have alerts for listings set up for home decor ideas & meant to cancel them but haven't got round to it yet.