Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

So frustrated with the market

85 replies

Omgwtafisthat · 29/07/2023 19:13

Stuff still being priced as if it’s 2022! Stuff needing so much work, but work is so so expensive.

we’ve been under offer for ages but just can’t find anything! Sorry for the rant but please tell me something will happen soon!

if our buyer drops out we will not achieve the same price again but it seems that nothing onwards is being priced all that realistically!

looked at one today which the EA described as ‘quirky’ but they still wanted a fortune for it! Ahhh!

OP posts:
Original poster
Omgwtafisthat · 31/07/2023 19:26

Permanentlyfrazzled · 31/07/2023 17:15

Ah interesting is south east London really slow at the moment?

We accepted an offer from a couple that needed to sell their flat in SE London. Weee advised by our EA that it should sell in a couple of weeks in March - sadly still not sold months later and we've had to put our own house back on the market after waiting for them for months.

Sadly this seems like a bad time to sell and I don't think we will get anything like the offers we had in the spring now.

We are in Surrey, not too far from you. We are in a rural area which is quite slow, looking to buy in the commuter belt which still seems to be very strong market...

Show quote history

Yes very slow when normally things sell quickly!

OP posts:
Crikeyalmighty · 31/07/2023 19:37

@Omgwtafisthat oh I totally agree- income ratios aren't working on the rates as they are to prices. Previously a family or couplexwith 10% and60 to 70k income income would go for something like this

wutheringkites · 31/07/2023 20:23

People negotiating 100k off asking prices where I am.

Regardless of the asking price? 🙄

VinEtFromage · 31/07/2023 20:43

Paperairplane · 30/07/2023 12:13

Things will start popping up more and more as people roll off their mortgage deals.

@Paperairplane yeah-they will. Trouble is Id feel so guilty buying their home from beneath them.

i know, I know someone will buy it, and it might be the best thing for them, but it all feels a bit grim.

VinEtFromage · 31/07/2023 21:01

Permanentlyfrazzled · 31/07/2023 17:28

Agree @Goldencup. This is what we were planning to do if we couldn't find an onward purchase. OP is moving into a rented an option for you? May well be a good idea in a falling market. And you break the chain so you can look at properties in your own time, no pressure to pick one that isn't quite right!

Trouble is, what you 'gain by selling now, you lose ten fold paying rent for Christ knows how long. The period you can port is very short too.

BunnyBetChetwynnd · 31/07/2023 22:00

We are currently renting having sold our home late last year. We're finding all the same problems that others are with finding a house to buy. Turnkey prices for complete renovation projects an properties with serious flaws.
We regularly see house price drops for much more than the amount of rent we're paying so renting might pay. It's a risk.

I wish I could find some way to just step out off of the whole property ladder right now. It seems like a trap whichever way you turn. Any suggestions gratefully received.

Northernlass99 · 31/07/2023 22:17

We were also considering moving into rental so we can take advantage of the higher price we have now secured to sell ours, and then wait it out a bit and move at our leisure. But we also are porting £100k mortgage - so if we sold presumably we would pay that back with a penalty and then have to take another mortgage in 6 months time at a much higher rate. It seems like a big risk too.

rockpoolingtogether · 31/07/2023 22:17

PomTiddlyPom · 29/07/2023 20:19

This is the real problem with increased mortgage rates.
People were crowing about house prices dropping but ignored the fact that many people don't NEED to sell. Especially those already in family homes. They can afford to sit tight and wait for prices to increase again.
This is why we rushed to buy just as rates started to rise.
Now people aren't selling unless they absolutely have to.

I really feel for you OP. House hunting is terrible and the process in England is painful.

Yes agreed. Couple years ago prices were high because of high demand. Now prices not dropping and still high as lack of supply.

Northernlass99 · 31/07/2023 22:22

Crikeyalmighty · 31/07/2023 18:53

To give you an idea - this modern terraced house in Bath at £280k that I've linked in - pretty sure 15 months ago would have been mid£300s - nicely done up, 3 decent bedrooms , roomy downstairs, not an amazing area but not awful and handy for town, good bus route, ok school and good senior schools - pretty unheard of for stuff not to go straightaway here at those prices

www.rightmove.co.uk/properties/137532977

Looking at the pictures and missing the point but - something I have noticed whilst viewing is people don't have wardrobes anymore! Loads of people have clothes rails. I love my big ikea wardrobes that I can stuff everything in and shut the doors!

Crikeyalmighty · 31/07/2023 23:13

@Northernlass99 we've used a mix in rentals, as we tend to always have 2 spare bedrooms , if it hasn't got fitted wardrobes I use rails in one spare room rather than buy wardrobes I may not be able to reuse -

If it was my house- I feel like you

New posts on this thread. Refresh page