No viewings

[Ellena646]

Hi, we have been on the market for four weeks and not had one viewing. The agent just keeps repeating "It's August, very quiet" on a loop, although we are now in September. Just wondering if anyone else is experiencing the same thing. Not sure if it's the agent, the market, the price... Never been on the market and had zero viewings in the first month before...

Your posts have been removed because you made several personal attacks.

Different opinions are fine, including my own. Sellers can reduce or not by whatever % they chose, regardless of your personal feelings.

"Sellers can reduce or not by whatever % they chose"

True, and smart sellers are reducing, 4% jump in oil prices today indicates volatility and more inflation ahead which doesn`t bode well for interest rate cuts. Use PropertyLog to see actual price cuts in your area not headline stats, they are compiled from data taken months ago.

It’s looking hopeful for sellers and buyers will be pleased to hear interest rates may go down further. Congratulations on your full asking price offer! That’s amazing! All the best with your sale 😊👍

I just noticed a nice, newish, detached house that started out at 425k and has reduced to 365k over a period of months, is now off the market, not SSTC. One of their neighbours, in a slightly larger plot, extra bedroom and double garage, is on for 550k, which seems a tad ambitious.

Loving the username 😂

Just have to say - so what if the data is taken from a few months ago, prices were still supposed to be crashing months ago according to those predicting a house price crash. Property Log is a useful tool but I don't think it's reasonable to reject all the other house price indexes just because they don't support your view. They all have their strengths and limitations.

Also talking of interest rates - have you seen Andrew Bailey's interview in the Guardian yesterday where he held out the prospect of Threadneedle Street becoming a “bit more aggressive” in cutting interest rates, provided the news on inflation continued to be good.

The Guardian reported that city investors expect the Bank to restart cutting interest rates at its next policy meeting in November, with financial markets moving after Bailey’s comments to fully price in a quarter-point cut to 4.75%.

https://www.theguardian.com/business/2024/oct/03/sterling-pound-bank-of-england-andrew-bailey-aggressive-interest-rate-cuts-inflation

Congratulations and congratulations also to @frozenblueberries

There is definitely a lag in statistics, e.g. if you go on "sold prices" at Zoopla it can take months for something to show up as a comparison in the road you are offering in. Even then, you don't know the circumstances... cash buyers? Chain or no chain? Do the pictures really reflect the house, sometimes there are many things (before or after survey) that have impacted a final sale price and none of these facts are included in the information...

I’m not denying there is a lag in statistics or that no data reveals all the circumstances so not sure what your point is?

So after posting on here that I’d only had one viewing, the agent has just rung - I have one tomorrow. Currently panic-tidying with fingers crossed…

Not sure about rate cuts after today"s U.S news.

https://www.bbc.co.uk/news/articles/c3e903nx51qo

@BubblyTime well what a massive coincidence that jobs were allegedly added in September just one month before the presidential election. I wonder what the chances are that the figures will be revised down as usual!

Still, it might not be 'good news' at all as the Fed will be less likely to make a big cut next time. The BOE will probably cut though. Apparently, they are worried about a 'credit crunch', according to reports earlier this week.

Good luck! We've got our one and only viewing so far tomorrow as well. I've been tidying and cleaning all day. Really want them to love it!

That’s amazing news! The headlines must be working! 👏👏
Wishing you the best of luck for tomorrow! 😊 🤞

More good news! 👏 Congratulations on your viewing tomorrow! It only takes one buyer. Keeping fingers crossed for you 🤞😊

Good luck everyone. Our house was listed 2 weeks ago, one viewing last week which apparently went well but no offer, other viewing booked tomorrow. Market is very slow here so I’m not hopeful. There’s not one house we want to view yet either.

If sellers are starting to get viewings this is a very good sign that buyers are gaining confidence in the market. You only need one buyer to like your home! Good luck for tomorrow 🤞👏

They seem to be saying the "credit crunch" will drive up borrowing costs, UK 10 Year spiked a bit earlier, that could mean the end of cheap mortgages?

https://www.telegraph.co.uk/business/2024/10/02/uk-at-risk-of-credit-crunch-bank-of-england-warns/

Oh you remind me of my old pal CrashyTime, he was always on about the US too. Time will tell about rate cuts as I always say, and they are trending downwards in the UK it appears.

Good Luck Bunny & @PauliesWalnuts

"Time will tell about rate cuts as I always say"

Yes, some commentators at the start of the year were talking about "six or seven rate cuts", laughable now of course.

It's so nice to chat Bubbly and btw have you seen how quiet the 5% mortgage rates (again) thread has got since mortgage rates started falling not rising?

We need someone to liven it up again because between you and me, it's got a bit boring now no one cares to speculate about mortgage rates reaching 7% or 8%.

It"s fun to chat on a forum about these things, very different to borrow real money based on blind guesses about credit markets as no doubt those who believed the "multiple rate cuts" narrative are now discovering.
There was chat today on financial media about the FED having to raise rates again at some point, probably not news that people with heavy debt loads want to hear?
The BOE of course is just going to follow the FED or risk a run on the currency and higher borrowing rates with even more inflation off the back of a weakened currency. (just look at what happened to the Yen the other day when they said no rate rises)

https://www.msn.com/en-ca/money/topstories/morning-bid-yen-rattled-by-japan-pm-s-unseemly-rate-comments/ar-AA1rBzKZ?ocid=BingNewsSerp

Being among the largest economies in the world doesn`t matter if they get it wrong on interest rates, just look at how quickly things turned after the Truss budget?

There still will be multiple rate cuts in all likelihood Bubbly - they did start later than most economists/analysts predicted, I'll give you that. But nevertheless, they have started now and another expected in November followed by several more in following months. Wonder how low the base rate will be by the end of 2025?

You say the BOE always follows the FED but in fact they began to cut rates before the FED - that must have surprised you?

Why will there be "multiple rate cuts", the data isn`t pointing to that happening? The BOE is not going to cut base rate to 3% or something when the FED is at 5%, that is what I mean, there would be a run on the currency, the small 0.25 moves are co-ordinated and just a political ploy so they can say to the public "We tried, we gave you that rate cut".

Well I never mentioned 3% but maybe something like 3.75% by the end of 2025? That is feasible with the proviso as Bailey says that "the news on inflation continued to be good".

I think it's significant that Andrew Bailey is now openly talking about the prospect of the BOE becoming a “bit more aggressive” in cutting interest rates. He has not used language like that before. Normally he's as cautious in his language as us trying not to get posts deleted.

Why would he be interested in a political ploy? If the BOE was that closely aligned to the ruling political party they would have done a bit more to help the Tories.