Lots of properties coming on to market (London)!

[Onaladder]

Hi just curious if it's just us feeling this, we have been looking for a two-three bed garden flat in zone 1-3 in London for a year or so

It's been quite a roller coaster ride, with crazy rate increases (ours went from 3% to 6% to now mid 4% in that time), and ~80% of properties on market we were seeing had been overpriced leasehold properties...
We were depressed for a while, scrolling Rightmove everyday...but!
Finally feeling quite hopeful. This Sat, we have 9 viewings booked and half of them are really decent and not horribly overpriced!

Just feeling a bit better and all hopeful

Are buyers seeing this across as well or am I just lucky this weekend...

You could be right. I read somewhere that there had been the highest increase in new sales instructions in sometime.

Those rates are quickly going back to 5-6%, unfortunately.

Check out UK Property Market Stats show on YT. Listings year to date are running at perhaps around 10% higher than recent years.

@Onaladder Were any of them The One?

My partner is an Estate Agent, January is normally busy but this year it seems to be February. I’ve never known him so busy!
It just needed people to have a bit of confidence in the economy and once houses start to go on it snowballs.
Fingers crossed for a bit of normality returning.

I hope so

I am selling mine shortly but more importantly I want to buy in a very specific area and the only suitable one (been on for at last 8 months) sold last week- could be years until another comes up if people don't want to list.

I’m personally finding it very slow in London, not much coming on at all.

@NancyJoan sadly no...we quite liked one but the asking price was too much for us. The sellers bought it for 600 in 2020 and listed for 800k and we asked if any room for negotiation and they said no...:(
There were two other nice ones but the terraces were much smaller than in pictures and we really want either a garden flat or first floor with large terrace...so the search continues!

@Ph1234 it may be the nice(?) flats are coming back to the market, we are only looking at flats but in the last 6mths, only really horrifying ones were on (and like staying forever on market). The funny thing is we have been looking for a year, and some of those that were on last year (and were on forever) are back to the market as new listings but at a higher price! some people never learn from their experiences

Also, Spring is the busiest time of year for new listings. People start getting more optimistic when the weather cheers up a bit, photos look better, gardens look better.

@Onaladder
its true I’m seeing a lot of the same (rubbish) stuff I saw before Christmas coming up again. Hopefully it will pick up more as spring approaches! Fingers crossed

I moved out of London and am on a forum of people moving away from London. A lot of them are taking offers on their properties.

Probably (aside from mortgage rates) a good time to buy

Goodness that’s just delusional! £200k more!Prices are falling with people being able to borrow less.

I’ve just put my lovely 2 bed period house on the market I’m hoping it will sell soon