Do you think there will be a load coming on the market after the budget

[paddleboardingmum]

...or will people wait till after Christmas? nothing has really been coming on in recent weeks.

I think lots of people look Boxing Day to new year on Rightmove. Are they serious on the market buyers tho?

if keen you could choose an agent and get pics done on a bright sunny day. Then agree for the listing to go up 2 Jan. so you’re all ready.

if you have ace garden wait till spring

I've always been sceptical about the Boxing Day thing...not everyone's got so fed up with Xmas relatives they've gone on Rightmove! I recommend March.

Property prices increased in my part of London. I literally watched them with my own eyes and with being constantly outbid on houses. I appreciate it might be an outlier.

Me too! I think the 'Boxing day rush' of people looking for a house is complete bollocks!

That is exasperating. I'm sure there are some good estate agents around, but my experience of them is that they say literally anything that suits them at the time. One recently assured me that our very large-roomed and high ceilinged period house would very easily find a buyer, although I can see that similar houses in the neighbourhood have been on the market for months or years and everyone knows that at moment people are cautious about taking on big commitments. Another, when we were selling a rental property, insisted that it was on 'at the correct price' although there was no interest at all. We dropped the price and it sold instantly. I would never rely on what an estate agent says.

Well based on the leaks, there’s no major changes except perhaps for landlords and people who own houses worth more than £2m.

i suspect the housing market will pick up again soon.

RR must have heard that the trailed £500K threshold was a nonsense that would have caused near civil war. She also lacked the skill and/or will to really tackle nonsense property tax like SDLT. So she just went for a £2M+ daft mansion tax which will raise a pittance but be like fresh meat to the leftie luvvies.

The only caution I might throw out is that having created a system to value and tax property based on current value, it's a short jump to drop that threshold value any time a chancellor needs extra funds.

Today was a wasted opportunity to make real change. I hate how she stacked up changes to come in in 3 years time like continuing allowance freezes and NI on pension contributions. What incompetent person has any clue what the landscape will be like in 3 years time such that they can introduce tax policy for it today?

Well, my property in Kent has been on the market for 5-6 weeks without a single viewing (it’s nice, I promise!) and the agents promise me it’s the same for everyone on their books, not just my house that’s had this (lack of) response. It’s way below the 500k point so really shouldn’t have been affected by budget speculation but now it feels like there’s zero chance of anything happening before January 😔 I’m selling because of separation so really need to find a buyer ASAP as I’m renting at great cost until it sells, it’s so depressing imagining nothing happening now until the Spring but that’s probably the reality!

Hi, we have seen one just come round the corner from us, so I think we may see a trickle now.

At a price point impacted by today’s budget.

I do now that there’s no change to stamp duty.

Kudos to anyone who has locked in a bargain while the market’s been waiting.

Landlords are getting hit with the end of no fault evictions. I think that may take a lot of them out of the market

We've been on for a while with basically no interest since September, so I'm very much hoping things start moving again. One couple who were initially interested went into rental instead as they were so apprehensive about the budget.

Yes there wasn't really anything in the budget obvious to affect it was there like stamp duty or anything. Maybe the market will get moving again now.

I agree about Boxing Day surely it's just people bored looking on there, or they've gone to visit a relative and talking about house prices in the area. It won't likely translate into sales as if it's the Boxing Day sales!

I’m just back to say that my estate agent contacted me today to say that everyone suddenly started coming out of the woodwork today, and they’ve booked 3 viewings for my house (priced to sell at £325k) after 5-6 weeks on the market without a single viewing! So fingers crossed there might be some action in the market this side of the new year…

Good luck! Like I said earlier, anyone who has secured a bargain while the rest of the buyers waited it out has pulled a neat trick.

we spoke to the agent we bought our house through who said they’d be inundated with people looking (and those looking to sell).

As it’s so close to December now, I would leave it until at least January to list.

I would never list on December 26th because then you have a 2025 date on the listing which will make it seem like it’s been hanging around for ages if it takes a few months to sell. Just because lots of people browse Rightmove on Boxing Day that doesn’t mean they are buyers. Serious buyers will be checking the site every week anyway if not every day.

It’s pretty dead at the moment. Hope it picks up after Christmas - looking at the lower end.

Fingers crossed!
Hopefully a glut will see cheaper house prices for first time buyers. For many, a mortgage is cheaper than extortionate rent.

I'm a FTB buying at the moment - waiting for mortgage app to be approved.

I think the housing market is weird at the moment - it's hard to predict even when I was putting an offer on the house I am purchasing.

A 2 bedroom semi-detached house opposite went for 2.5k less than what I've offered on this property.

A 2 bedroom semi-detached house around the corner which was done up has gone for 5k more.

A 2 bedroom semi-detached down the road is on the market for 20k more, but it has been renovated.

The house had been on for 2/3 months, and there were 2 previous offers, which was I think slightly lower than the minimum price.

I did offer the minimum price (even though it had an offers in excess off attached to it), which was accepted straightaway.

But the other factors I had to decide on:

• Number of bedrooms - this one has 3 quite big size bedrooms - smallest is just under 9ft x 9ft - enough if I decide to have a family etc.
• Large living room space/kitchen
• Freehold
• Planning constraints in surrounding area
• Close to nature/good size garden
• Close to friends/family
• Close proximity to different types of services/public transport
• South-facing garden/roof - potential for solar panels.
• Energy performance certificate - C/checked building reg records etc
• Good schools in area
• Accessibility
• Driveway for 1 car

Problem is I think a lot of people are struggling to save for a deposit so are opting for properties that are already renovated to save money, especially as FTB age is getting higher than higher, and people might be wanting to start a family straightaway. Especially with renovation costs getting more expensive - materials, workers wages etc.

The house I'm buying will need renovating but it's doable in a couple of years. I'd like to stay in the house after that though, instead of selling it.

Basically, what I'm trying to say is that it's hard to predict the housing market. I think if you're selling though, probably spring/summer would be a good time - especially as people have saved money and less people spend in jan/feb.

I was going to buy next year but I thought if I've got a 10% deposit & all the associated fees, might as well go for it now instead of having to save more for a deposit. Everyone might be getting coal for christmas though 😂

Good luck with your move Moonquarter.

In my area not much coming on still so I guess people are waiting now till after Christmas.

Just an update - property went on the market on budget day (coincidence as had waited over 6 months for probate), first viewing Saturday and offer accepted yesterday! Hoping it will all go through.

Wow, thanks for the update @paddleboardingmum & hope the sale runs smoothly

I was waiting to put an offer on a property after the budget. I’m in C London where the market is dead. 15% reductions in my area. 200k reductions on plenty of flats. Plenary of flats that were on for for 1.2 million in the good days now sub-1m. Agents think the market will pick up in the new year and landlords will be offloading. Let’s see if my offer gets accepted.

Depends on area and type of house I think.

https://londondaily.com/london-new-build-home-sales-plunge-to-lowest-since-financial-crisis