Will spring bring more stock?!

[Fisherstevens]

We sold up and moved into a rental last September while we looked to buy a family home in and around Glasgow. Chain free and with a decent deposit in the bank I thought we were in a good position - but there's been hardly anything on the market that meets our (rather loose) criteria. In six months I think I've only viewed five properties (offered on one but lost out on the offers over game).

I obviously understand the wider economic issues at play that may be deterring sellers from listing, but I'm desperately hoping spring brings a warmer market and a flurry of activity.

Am I being hopelessly optimistic?

I’m in a similar situation in NE Scotland. There’s been hardly anything decent in my (modest) price range coming on the market, some that I think are overpriced and then sitting for months, but not being reduced. Hoping it’s just the time of year and there will be a flurry of new listings over the coming weeks…fingers crossed

I think people can't afford to move so the market is stuck. It'll be interesting whether worsening cost of living forces people to sell up, driving prices down. But those that don't need to move with just sit tight.

If I hadn't found a house I liked I would have waited until spring. There's more light in the house and the garden wouldn't look so bare. We got lucky that our photographer came on the only sunny morning in an otherwise dreary November.

Hope so, OP. I’ve gone through our postcode and all surrounding ones several times on Rightmove (even though I have alerts set up anyway) as if searching hard enough will magically make people put their homes on the market…

Yes, we deliberately waited until spring last year as we knew our garden was a big selling point. Hoping lots of people are spring cleaning and getting things picture perfect as I type!!

@Scotsgirl001 what's it like in the NE for offers over? I'm told it's still 10-15% over home report in the areas I'm looking, that's down from about 20% during the crazy period. That said, that seems to be reserved only for the really lovely houses that go to closing. There's houses that have been on the market for months and/or been relisted at fixed price which wouldn't have happened last summer.

Fingers crossed it picks up soon.

I really hope so I'm fed up of refreshing Rightmove optimistically and being disappointed when my latest alert is unsuitable again

I don’t think many properties are going for over home report value here. In fact prices have been in a slow decline for a long time. Well presented houses seems to sell quite quickly, but there’s not a lot that go to a closing date these days.

Am not looking to move, but keep an interested eye. I do think agents and people are overpricing.
And perhaps also people don't do compromise very well. Sellers and buyers.

Traditional time for moving, so I would imagine more stock will become available, good luck OP.

I think people are concerned that prices have reduced now, and are possibly waiting until interest rates drop, unless they have to move.
The only people who can benefit are those uprising, but people aren't selling, making it a vicious circle.

Had an appointment with a mortgage advisor last week to see where we stand. They said they don't see things improving until the end of the year. I just want to live in my own home again and wish we'd never had to move into rented. I'm so sick of magnolia walls and paying through the nose to fund someone else's mortgage and lifestyle.

I hope so but I’m not feeling very optimistic right now. Nothing on the market here, a few houses in dreadful condition that have been sitting for months but that’s it. We’re desperate to buy and have a pretty flexible wish list but there aren’t even any “compromise” houses available.
Im trying to limit my obsessive refreshing by decluttering the rental in preparation for when something finally crops up.

I used to love looking on Rightmove but I’ll be delighted to finally find somewhere and have a looooong break from it.

Lots in the press about this being a period of stalemate. Buyers aren't willing to overpay in a falling market. Sellers are clinging to Summer 2022 prices or resisting putting their house on the market until things pick up.

I hope so. We are in a very similar position albeit in southern England. Same timescale and I've only viewed 3. Even they were sceptical viewings of houses over budget. In the last couple of weeks, however, we are beginning to see things creeping onto the market which is filling us with hope!

Oh, that's good to hear. Fingers crossed for some movement here next.

There was a beautiful house that came on the other day (too expensive for me, sadly) and it was under offer almost immediately. Hopefully that sort of thing will encourage other sellers - there's plenty of buyers waiting and raring to go!

I'm really hoping so!

Our buyers are being very patient but we do need to find somewhere soon or we'll have to go into rental, which I really want to avoid!

Fingers crossed for us all!

Interest rates have reduced from Oct last year, this is always the quote time of year for the market, the supply is likely to however be reduced due to affordability checks therefore the ones which do go on the market should hold their value.