What is the property market like where you live? It's dead here

[OnedayIlflyaway]

Haven't had any viewings for a month. Joint agents, very competitively priced. Have a potential buyer, but they need to sell their own house in North London; they've been on the market for 6 weeks. Agents tell me the market is very strange at the moment, mortgage increases are making potential buyers very nervous. I'm in south Hertfordshire.

Steady in my S London neighbourhood. A friend in N London has just sold her semi after a week which she had worried that the EA had priced it high.

It’s not the mad competitive offering of a short while ago but prices seem to be steady.

Anecdotes are not data. What post code? Remember - asking prices > agreed prices > actual prices.

Edinburgh- slowing down, especially at the 600K+ range.

I was hoping to move as I'm on a 5 year fix at 1.04%.

However the next step up, from a flat to a house, will cause a massive increase in payments so I don't think it will be affordable.

Am just saving as much as I can meantime.

West Yorkshire.
2/3 beds in decent condition fly out, on the market usually until the next weekend when they get snapped up.
Fixer-uppers and larger properties are sitting

Not sure, we've had the door knockers, not had them for a good few months 'I we walk past your house regularly and think it looks lovely, just the sort of place we'd love to live & wonder if you'd be thinking of selling by any chance?' - that's a no as we quite like it at the moment, less of you walkers streaming by than past few years

SW slow, more houses coming on the market each month than are selling.
We’re selling a starter home and 75% of our viewings are last minute cancellations or no shows. The agents function as a weekly reminder to do a big clean.
The people turning up for viewings are downsizing, retiring to the seaside types so in no hurry.
There’s loads on that we’d like to buy and we’ll not struggle with the mortgage so it’s really frustrating.

Just reduce your price a bit if you want to move and are facing no significant financial issues.

South West big expensive city
my son is buying in the 300 - 325 range
has a big deposit over 50k possibly more if I give him
some more money
lots of ex rentals are coming on to the market and lots of houses are being reduced

one ex rental he looked at yesterday has been dropped from 360 to 325 in less than a month and I’ve seen quite a few with reduced prices

RM search of listings in last 14 days definitely doesn't look buoyant. Very few sales and lots of reductions.
I wonder if some people talking about thriving markets are basing this on one or two anecdotes. There are definitely some areas doing better than others but the overall trend is very clearly downwards.

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E91989&index=120&propertyTypes=&maxDaysSinceAdded=14&includeSSTC=true&mustHave=&dontShow=&furnishTypes=&keywords=

I'm selling in central Bedfordshire, close to the north Herts border. Sold our 3 bed end of terrace in 3 days. Family near Watford sold their 3 bed in two weeks. Get a new agent!!

DFL central: Hastings And St Leonards - The DFLs have rebranded the St bit to Saint. But even they're struggling to find a place to buy or rent, the virus and rot has truely set in, between them and air bnb locals dont stand a chance, unless you're a boomer and bought eons ago.

Zone 2 London. Mental. Flats I saw up for £500k 5/10 years ago selling for £800k. Nobody sticking around. Ex council houses going for £1mil plus!

Nothing stays on the sites for longer than 3 weeks.

We're looking to move out of London. But houses in the area we want are selling for £1.6m for a four bed. Crazy.

Respectfully, I don't believe your anecdote. Give me the post code (first part) so that we can assess evidence rather than anecdote.

Anecdata unless you can back this up. Of course house prices have increased over the past decade, but I’m not convinced London is as “mental” as you suggest.

Gosh thanks PP. I hadn’t thought to reduce the price.

I think buyers are less decisive now there is a higher chance they will be ‘stuck’ in their purchase for longer. So a buyer who might have previously thought ‘that will do me for 2-3 years then trade up’ now want a 5-10 year house with no compromises at all for their money.

North Mids here. Cheaper properties are going like the clappers. (Less than ££275K) The more pricey ones - £325K to £700K have been for sale most of the year so far. 6 months. A couple have been for sale about 9 months. A few viewers, but no offers. No-one wants to take on a big mortgage.

South, rural village, houses don't come on the market often.

Houses with gardens are usually sold within a week. There is one house, not been renovated since the sixties, is on its second purchaser but otherwise still sell quickly.

Oxford / Berkshire border. Big houses ( 5 plus bedroom, trendy kitchen open plan extension) £ 900< Stuck for months. Bungalows with loft conversion and a decent outlook £5-600 k selling in a fortnight.

I think people are only buying the space they need and think they can afford to heat and maintain.

In fairness, it was a very sensible suggestion if you want to sell.

Buyers aren't less decisive. They mostly can't afford properties at current rates of interest and even more so if the property needs work. Why do you think your viewings are all retirees rather than young people/ young families when you are selling a starter home? The older ones with cash will clearly be cautious because it is now being widely reported that property prices are falling and will continue to fall.

If you really want/ need to sell, reduce your price to a level that buyers can/will pay and negotiate on your onward purchase.

You're in a really expensive part of the county, it's going to be difficult currently. I don't know what the answer is aside from lowering price. I live in North Herts where the market appears to be moving OK and certainly where I live, houses are not on the market for very long. How that will continue with interest rate rises, I can't predict.

Completed on Monday on my late parents house, south coast.
It took a year, initially was overpriced (thanks brother), had two buyers pull out, the first just before exchange. Finally a proceedable cash buyer came along, offered FAP and the whole thing went through in 5 weeks. It could have been sooner if we'd agreed to exchange and complete on the same day but after all the messing about we'd had with the other 2 buyers which had left us a bit traumatised, we wanted a week between exchange and completion.

So hold firm, the good buyers are out there!

SE London. Dead.

We're in north herts-the market has slowed a lot. Houses on our street 850-1 million pound bracket are taking 6 months and counting to sell where once they would have been gone within a fortnight.

We were thinking of selling-now we are going to stay out and will look at renting ours out when we need to actually move in a few years or so due to a family situation.
The rental market near us is still crazy!