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.

Lancashire: seeing a lot of houses from as low as 160 all the way up to 450 be on the market for more than 4 months with lots of reductions. The 160-200 ones don't seem to stick around long. There are a lot of folks who are still convinced their houses are worth whatever Zoopla told them last summer and they are staying on the market a very long time (mostly 240-300k).

N Yorks. Friends live in v desirable location and have a lovely old house with a charming garden on for 475 (which, with my knowledge of the area, is not overpriced). Absolutely stunning refurb up the road from them, probably overpriced to last summer's prices, sat on the market 2 months then was taken off. It's bonkers to me that a street that has gone up in value between 7.6 and 11% year on year for an average of 17 years isn't selling.

Seeing a lot of massive, massive overpricing and properties not moving with tiny reductions in County Durham. I would say the average house is currently overpriced by 30%.

I looked within 3 miles of Chorley the other day (still Lancs, but at least a bit of a big hub with jobs and shops) and 50% of 148 ads meeting our criteria were sponsored on Rightmove.

I have to agree with you there. I am seeing a surprising number of homes with 2500-3000 coming through that we could actually afford to buy.

It's going to take ages for people to forget and for those larger homes to be desirable again, esp older ones.

About a month ago now but on the street a buyer offered at last minute going up on last offer by around £30k

House was competitively priced though

Four house in the immediate vicinity of mine have just sold. Seems to be alive and well here.

We are looking to relocate to Herefordshire. Pretty much everything that comes on is less than 300k, or over 600k, there's very little in the middle at all other than houses that are overpriced/have issues and have been hanging around for ages. It's driving us mad...we should be able to sell ours fairly quickly based on recent neighbour sales, but there's no point putting it up if we can't find somewhere to buy and we've been looking for 6 months or so.

We are in a different area, and there are /have been several houses for sale on our estate recently - the sensibly priced ones / with desirable plots are getting snapped up quickly but others are hanging around for months, whereas say 18 months ago nothing was on the market for longer than 48 hours or so.

Interesting rather contradicts idontwanttobepie above. Lots of senlondon is zone3, maybe closer.

Might be more interesting if we knew where. Manhattan? Ulan Bator?

East Midlands

Dead

Even new builds are being discounted

South coast

Anything in the £600k-£1m bracket not moving.

I’m on for £20k under what we bought it for just over 2 years ago, £850k now, 3 viewings since mid April.

No idea what I’m going to do as I have to sell due to divorce. Could cry if I think about it too much. I can’t afford to sell for much less than asking price

affluent market town SW, where demand has always outstripped supply. pretty much every house on rightmove is reduced and not selling. this time last year we were getting letters through the door regularly and local facebook was full of people desperately searching in the area.

weirdly there are more houses for sale than i've ever seen previously

We're downsizers. Sold our property last summer, currently renting, cash buyers and looking to buy North Somerset near Bristol.

Properties come to the market, needing a lot of work work but at finished prices. We have offered 5% under the asking price for three properties that fall into this category and the vendors won't drop price which seems unrealistic in the current market. All three properties are no chain, deceased estates. I'm sort of imagining there are

Not much is selling so we are hoping that one of these vendors will eventually realise we are not in boom time and sell at a price which reflects the amount of work needed.

Generally more coming to the market than selling and many reductions.

Just looked at Rightmove within a mile of my course. Quite a few new properties, but several reduced. One sold very quickly, a doer-upper.

Oh no. I'm really sorry to hear that. I thought most homes would be selling around late 2021 prices still but clearly it is very area dependent. Can I ask approximately where you are please?
Being realistic, you will need to reduce the price to a level where it will actually sell. For starters, I'm sure you don't want to be stuck there with your ex and secondly, the longer you leave it, the more prices are likely to fall. Good luck.

South Wales valleys. Traditionally quite cheap
areas to live in. Lots of people moving from Bristol and out of Cardiff to take advantage of the prices (like I did).

West Hampshire: 3/4 bed house/cottages and bungalows, which are “move straight into” are going extremely quickly.

Everything else is not moving at all, some are being very ambitious price wise and are having to reduce.

I'm in Shropshire and things seem steady. Got an asking price cash buyer for my house in 3 weeks and had 6 or 7 viewings. I imagine in this, as in everything, Shropshire is oblivious to the outside world.

No idea which part of Shropshire you are in but it doesn't look as if everything is flying there. Lots of reductions according to Rightmove:
www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E61321&index=48&propertyTypes=&maxDaysSinceAdded=14&includeSSTC=true&mustHave=&dontShow=&furnishTypes=&keywords=

If you have to rent it out and then agree when youll sell by. We did this and ended up selling to the tenants for the asking price. No need to loose money as well as everything else.

Problem with that is I need the equity to buy my next property. Rents are through the roof here - so stressful

If rents are through the roof renting yours sounds a great plan, might cover some of your rent and the mortgage

An experiment for the "flying off the shelf" crowd.

On Rightmove filter. Select Added last 14 days. Filter out retirement and buying schemes. Then toggle on/off "include sold subject to contract".

For example, for whole of London, 8800 added and only 400 sold. That is not "flying off the shelf". Try with your own area and let us know anywhere where property is flying off the shelf within days.

How do you get the number sold without manually counting through every page?

We have plenty in the £160-200k bracket sticking for ages here. The problem is over-optimistic sellers trying to shift houses which need work for the price (or not much less) of something done up. NW coast.

Check out the very latest "Moving Home with Charlie" video on YT. It specifically addresses people who "have " to sell right now.

Toggle on that filter screen. Keep Turning on/off "Include Under Offer/Sold STC" and watch the total number change (on that screen). Subtract one number from the other to see how many went under offer in the last 14 days.