Has anyone listed in the last 2 weeks?

[YellowDuck1]

Since the new year we’d been gearing up to sell our house. We were finally ready to list this week and I think we might have timed it awfully. The market feels quieter than ever with everything going on Iran.

Has anyone else listed in the last few weeks? Have you had any interest?

And that’s STC, so not actually Sold.

Yes a few will probably fall through

Yes, we’ve been clearing my mother in laws house since November. Finally got it ready for sale 2 weeks ago and listed. No interest yet. Market very slow round here (south east England). I’m not seeing much new on Rightmove and haven’t seen much SSTC either! Estate agent said it has been slow but hoped it would pick up now it’s spring. But we’ll see!

Also south east England… hope you get some interest. Another day of refreshing my emails hoping for at least one measly viewing and nothing!

Yep, south east and slow market, anyone who has viewed has said price is too high, which is unfortunate because it is a LOT of house for it's money, more than other houses listed. But is in poor decorative state, and empty so every flaw is visible. We will have to lower again to get shot of it.

Oh another for south east! Similar here a lot of house for the money but ours has been fully renovated. Estate agent said it was like a show home. But nothing

If there are no viewers then it’s priced too high in the current market. The one you want to buy also needs to come down in price if that isn’t selling either. So you’ll have to either hope the one you want to buy is reduced more or find another one that is priced correctly in this market, and then you can reduce yours to sell.

We have a new build and the chap who does the snagging for the company said that many builders are stopping building at the moment, or just hanging on to purchased land without doing anything to it. Many of the workers have been laid off until things pick up.

I think houses will still sell if they’re very realistically priced, but a one of our ex neighbours listed their house three weeks after ours in August 2024 and it’s still for sale. They’ve reduced the price, gone to multiple agency, taken it off and back on the market in the last 19 months.

When we went to see the new build the sales man seemed completely bored of it 😅

We are looking to move and honestly it just seems everything is overpriced. Nothing has sold in our area for the last three months and properties just keep getting reduced. We will likely lose on our property when we sell but it seems like others are trying their chances. Looking at the sales history, properties are regularly going for 100k under asking (after being reduced). We are in a position to gain if prices drop but are just aware we have to take a bit of a hit too. Also in the SE

I re-listed about a week and a half ago after being SSTC for almost 6 months when my buyer just decided a few weeks ago to pull a fast one and drop the agreed price by 20k without giving proper reasons.
Anyhow, the house was priced competitively and I had around 14 viewings over 4 days including the 1st Saturday and accepted an offer just below the asking price so I would say that as long as you are priced competitively (slightly lower than other houses around you that are on the market) you will sell but the key is to do it early enough to generate interest during the first 2 or 3 weeks because anything beyond this and you will just end up sitting on the market for a while with your chances of getting an offer close to your asking price slipping as each week passes.

House prices don"t control rates, the bond market controls rates, the bond market doesn"t care how much a house sells for, unless of course we hit a point where a house price crash de-stabilised the banks and the government, then rates for the UK would go even higher!

It can also be that the demand for the area just isn"t there.

Have you asked the developer if they will do a part-exchange?

We put our flat up a month ago tomorrow and we have had one viewing. Flats are really undesirable apparently so we're up against it and the other 4 flats also up for sale in our complex plus all the commenters on my own thread have said that we're vastly overpriced even though 3 estate agents all valued it the same 🤷‍♀️

Yes and unfortunately our property value is too high. Has to be like 30% under the value of the new property

I think people are quick to blame it on being overpriced when the issues with the current market are greater than just the house prices. Yes I’m sure if we reduced our house by a stupid amount someone would buy it but then what position does that leave us in?

The problem with flats is that a lot of landlords are trying to sell up due to changes with the tax. I hope you can sell soon

Also SE England 🤣 I sense a theme

We listed in November and have just taken it off the market. One viewer! I appreciate it wasn't a brilliant time to sell but the estate agent even admitted the market isn't picking up like it usually does. We'll be staying put for another couple of years.

Our agents tried to convince me it’s picking up. I think it’s BS but they can’t very well tell me it’s completely crap as then we wouldn’t list and the problem continues on

House listed 3 weeks ago, over 10 viewings in first 2 days, sold sts on 5th day 4k over asking price! FTB taking on the money pit! SouthWest England

That’s amazing! Are you pleased with the price you got for it? Maybe it’s a SE issue

Current house prices were created by years of cheap mortgage debt, the cost of debt had started to return to historical norms, then we got a war in the ME meaning inflation and rates could soar, house prices are very much one of the main sticking points because people can no longer afford to service the monthly debt payments if they have a mortgage, another problem is demand, there are simply not enough buyers in many areas now.

Yea i think you’ve hit the nail on the head tbh but leaves everyone who has a mortgage currently in quite a difficult position

I was surprised ours told the truth tbh. I think they were very shocked at how slow it is.