If you’re looking to buy how are you finding the market?

[Candlewiff]

We are currently in rented after selling late 2023, looking in borders/northumberland. Not seeing a great deal of houses coming on market. A few that are just sitting there not selling from as far back as summer 2023, what’s it like in your area?
Really hoping there is going to be a spring boost.

We're completing on a house next week and the process has been fine. Not loads coming onto the market but we viewed 5 properties none of which went to a closing date (we're in Scotland ) The property we're buying I had previously discounted as being too expensive but it was reduced so we viewed it anyway. Ended up paying less than the home report so we're very happy. I think it is a buyers market but we're in a city which will obviously have more properties coming onto the market.

i hope to buy later this year or early in 2025. From the road, I spotted a 2 bed bungalow I liked. Newly renovated with John Lewis kitchen & other high spec, etc. On a nice street in a so-so area near my work. Many 3-4 houses in this area are well within my budget.

The bungalow is on market for £50k over my very max budget, originally listed September 2023. I think they planned renovations when prices were soaring & now... who knows when they will get price they like.

Neighbour's house was listed 2.5 months ago and has had one viewing. It's about the same price as similar properties in our town. Our house is almost identical to neighbour's. I am not optimistic about quick sale when we list in about 4 weeks.

It's a slow speed correction at the moment here. Sellers who are realistic about values are still getting a sale though ! Sometimes really quickly. Its going to take quite a long time for prices to settle back to where they should be after the end of super cheap borrowing. A year or two I guess.

I'm in the Borders too and it's very slow. A lot of houses overpriced and staying on the market for months as sellers seem in denial that the market has changed from a few years ago. The house I'm interested in has been up since September 2023 and hasn't been reduced yet. Our own house has had a couple of offers lower than I'd like but I'm beginning to think that this is what it is worth now. It's depressing TBH. Having said that, this week a few more houses have gone onto the market that are nicer.

When we sold I thought we accepted a too low offer, but things were slow and we had already had one offer fall through. Looking at market there are houses still available that were up when we were.
@StopTheGreyness I’ve noticed some houses have been sat on market for ages without any reductions, they’re just not going to sell.
We viewed a couple that weren’t for us, but reasonably priced and they went to closing really quickly.
I saw one last night I like but currently on holiday so hopefully get to view next week.

@Candlewiff we are on the Cumbrian side of the Border and it sounds similar to the Northumbrian side. There are houses that have been sitting for months that are just overpriced. They might have been at the right price a year or so ago but those days have gone. Like you, we've found that anything reasonably priced is snapped up. People just don't have the money they used to have and if you can't get a FTB or cash buyer to start off a chain then you are up the proverbial creek. I am pretty pragmatic and will just do what needs to be done to sell my house but it's frustrating when some sellers are still very unrealistic. Good luck with your search. Northumbria is beautiful, I'd move to Hexham if it wasn't for work.