House prices

[insomniac1]

What is the housing market like where you currently live?

Virtually dead. Only very cheap first time buyers houses are selling at all. Had a long chat with my EA this morning and he says it's almost impossible to sell any larger houses and he's been speaking to other agents who are saying the same thing. South East England, commuting distance from London.

So interesting. Our agent is telling us that the market had picked up a lot this year so far and that prices will continue to rise for the rest of the year after dipping marginally in December. In fairness houses do seem to being snapped up so fast. We are in south west (north west London but zone 6)

We've just listed ours in the SE and am expecting a long long wait for a buyer

Oxfordshire and very slow here too, unless it's a BTL/HMO student type place or small FTB houses.

@StylishM slow as in no houses available to buy or slow as in houses aren't selling?

Manchester. Nice houses still selling within w week or 2.

Slowing down. Until recently it's been a very hot market - agents couldn't even get For Sale signs up before houses would sell, and most went to Best and Final. If you wanted to buy you needed to be either a cash buyer, a first time buyer with finances in place, or have sold with a complete chain, or you weren't getting anything.

Now, while very desirable places still sell quickly, it takes a couple of weeks rather than a day, and other properties hang around for weeks or even months, and then only sell after a price reduction or two.

Very little coming on to the market and what does come onto the market isn't shifting unless it's priced to sell, seen a few probate properties which need huge amounts of work and they're snapped up at the right price, undoubtedly for people to 'flip'

Two houses on our street haven't sold since end of last year. (Small family homes, Midlands.)

East of England right move search yesterday, 23 houses added in the last 24 hours, of which 10 were price reductions. Its slow. I'm hoping it will pick up over Easter.

Perking up.
I just looked in an EA window in our high st (S London) and loads that has been in the window for a few weeks now say 'Sold'.

My sibling is selling in a coastal / rural / popular holiday house location and his solicitor just told him that they have started to get more instructions.

I've been watching local house sales for the last year, I'm looking at rural villages and market towns (East Yorks/ North Lincs), mainly larger 4 bed detached which go for £300-£400k. It's always slow here but I've noticed more reductions and many properties for sale since last summer.
Not as much coming on for sale as six months ago.

Certainly not as fast as it was when we sold ours and bought one last year. Nothing was staying on longer than a week last year at all. Currently, 1/2 beds - staying on about a week. 3/4 beds - majority are ‘under offer’ within 48 hours! Bigger properties probably 1-2 weeks.

Seaside town on the west coast of Scotland that has always had a fast market and seems to be continuing!

Don't know what it's been like recently, but I know of a house that went on the market at the weekend, and 4 viewings booked already. House priced at £25k more than 2 different agents' valuations as well.

South East London. Things which are in decent condition and being priced realistically are moving. Sellers who are still expecting to get Q3 2021 - Q2 2022 prices, and properties in poor condition (presumably because many people are aware that getting trades in is difficult and expensive right now) are hanging around.

East Midlands. In my village house prices have dropped by 20%. In a very affluent and prestigious part of the city they have stagnated but still move quickly.

Cheshire here. Not much on the market and it's still going quickly but my area has excellent schools and it's always been a popular place to live.

We bought (FTB) 18 months ago. It was hectic(!!) buying at that time and we managed to get an offer in and approved within three days of house coming onto market. We offered 98.5% of asking and I think we were very very lucky to "win" for that. Our sellers told us during the sale that other people who had originally offered lower had come back and offered over asking etc. (which I can believe may well have been true as there was very little in our price bracket on the market at that point!). Thankfully we didn't get gazumped.

Now, same size house on same street has gone up in asking price by about 20%.. and there are two for sale which have both been on the market now for 8 weeks. So prices up, but sale time much slower. However there is nothing around here now that we could sensibly have afforded as FTB. I wouldn't have wanted to stretch us to the prices we'd now be asked for.

Very little coming to market. We haven’t officially put ours on the market, the estate agent booked two viewings and both offered. I sadly has to turn them down as nothing on the market for us to buy. We going to check again in 2 months and try again.

Risky as we may then not find a buyer :(

Meant to say, we are East of England

In trafford they can be sold within a few days. There going 30k/40k over asking price. Mainly overseas buyers. Some good schools round here so that seems to be the main reason round this way.

Se London, much quieter, prices have got too high I think. An adjustment of about 7%-10% is due. People just can’t borrow the amounts they used to before the interest rate rises.

Seems to be ticking over but not a lot coming on the market. I’m south london.

Slow here, there's actually 1 that's been nearly on a year. It's gone from being snapped up on being marketed to hanging about for some months.

Not as many coming on and staying on for longer. Quite a lot more reductions. Like others, I've noticed houses that are done are going quicker than those that need work. I'm in the South East (not London).