Will the property market pick up?

[mama2girls0]

We are hoping to relocate within the next few months we but have been keeping an eye on the property market and are not noticing much coming onto the market. People keep telling us it should pick up come March/April time as it does each year. Do you think this will be the case or is it unlikely given the current financial situation? Thanks

God I hope so. We're in the same position, and wondering when we dare to list our house for sale 😬

We live in a fast moving property area but it is always dead until Easter. People like to be in for the new school year, so this time of year has no urgency attached to it. Fingers crossed.

I'm putting my two bed terrace rental on the market in the North West next week. Agent says currently the market is reasonably stable. They quoted me 170K in summer as a sale price. Now we're putting it on the market for offers over 140K.

We put our 2 bed rental on the market just under 3 weeks ago. We've had an ok number of viewings and three second viewings, no offer yet though.

Feeling nervous as this is a very different experience to buying and selling previously! Our last house sale was on for 6 days before we accepted an offer, had 30 viewings and was completed within 6 weeks from going on the market. This one is stressing me out!

My agent thinks the market will get worse in the next few months, but who knows? It's a completely different market. I bought a flat in the South East in September. I had to engage a property finder as I'm overseas property would sell within days. The property I bought was 10% over asking price.

A little bit of a vicious cycle, if everyone is waiting for more things to come on the market before going on the market... Then how is anyone ever going to end up on the market. Said in good spirits as it is a crazy situation and an unpredictable time. Fingers crossed for you.

I am seeing lots of houses going under offer that had been on the market for a while here in Shropshire. A fair few are selling within a week or two so I do think things are picking up. Still the same overpriced houses sat on the market for months and months though so maybe the ones selling are those willing to negotiate?

@Fedupofdiets Where are you looking in Shropshire out of interest? We think the family home market is moving more than the first time buyer/starter home buyers.

@mafsfan I am in central Shrewsbury. I live in an area full of Victorian houses and they usually sell pretty quickly but two have been on for a few months now - both sold this last week. Likewise others I have been keeping an eye on are under offer after months on the market.

@Fedupofdiets We're selling in SY3. Had a steady stream of interest but nobody who's really ready to go (houses not yet on the market etc). I'm sure last year they wouldn't even have been allowed to view! Hoping it is picking up a bit going into March and we get a proceedable offer soon!

@mafsfan Oh I hope so. I am in SY2 and funnily enough have just seen one come up in SY3 last week that I like the look of, small garden though so will be interesting to see if it sells quickly. It is a strange market isnt it? Some selling quickly and others lingering for ages - your area is popular though so fingers crossed. I had EA here to value mine last week and they gave me a range of what they thought I should put it on at so it is difficult to know how much to market it at. I am a bit gutted though because I have only been here just shy of 2 years but cannot get used to living in a terraced house despite having completely renovated it, I do not need to move but want to. I am very picky - detached, walking distance to town, character. I want it all but have not got the budget!!

Are you staying local?

@Fedupofdiets It's not actually our house we're selling. It's MIL's but she's not in the country at the moment so down to us to get it started!

That's a reasonable list of demands!! I can offer you a 2 bed, semi-detached, 70s build if you're interested?? You can walk to town from it though!

I really hope so. It's relatively dead round here (Zone 2/3 South London. We're going to take the plunge and go on the market around Easter, hopefully more people will do the same.

It’s still moving here. I tried to book a viewing yesterday and they already had 6 booked and an offer. Last year they were selling in the day but it’s still quicker than I expected.

My house has been on the market in the North West, priced to sell. So far, I only have two viewings arranged after a week on Rightmove.

We sold last spring for 5% over the asking price. Had 20-odd viewings, a waiting list for more and 10 offers.

We’ve just put an offer in on a house which had been on the market 2 months with no offers, had been reduced by 7.5% and we still went in 2.5% under.

I’m not convinced it’s going to get better any time soon.

We’ve just had an offer of 10% under asking accepted on a house that had been on for 5 weeks. I think it’s a case of getting an offer on yours then seeing what you can negotiate on a forwards purchase. I’m not convinced it will improve much with another potential interest rate looming but it’s all about the gap you have between selling and buying and end of the day life has to go on and people always have to move, just maybe not so many as in a more buoyant market.

we live in a decent area where property normally sells quickly ( days or couple of weeks) . There has been a slow down in the last few months. Property isn’t really selling half as well. Personally I think it’s because it’s priced too high. Based on prices a year or eighteen months ago when the market was flying The financial situation isn’t rosy and people are more cautious on moving.

Mine has been on the market 3 weeks. We've had 5 views, 3 offers - one too low, two not proceedable so really only one offer as it stands.

Hoping things pick up towards Easter.

🤣🤣 how do you work that out?!

We sold for more than the asking price, quicker and with more viewings.

We’re buying a house which has been on the market 2 months for less than the asking price 🤷🏼‍♀️