Buying houses how much?

[drnobody]

hi all, anyone still looking to move in the current climate? I've been trying for the last 2 years but constantly lost out to ridiculous over HR values. Feel like trying again, even with the high rates, i'm desperate!
So I suppose i'm curious to hear about anyone that has been successful since the financial changes, how much over HR have you had to go? Thank you in advance!

It is very area dependent, I paid 5% below hr value for mine. That's fairly typical in my area unless it is a very desirable property.

@Itsonlyagame thats a very valid point! I totally forgot to add, I'm looking at glasgow and surrounding areas.

Awesome that you got 5% under, definitely more reasonable.

I'm in Aberdeenshire, things are quieter here. When I first bought in the city some flats were going up to 40/50% over asking in the early 2000s, batshit.

My DM has just bought in Ayr - successfully offered at HR valuation. Estate agent says that properties there are now going for close to HR valuation rather than way over as they were for past year or so.

Could you go for a house that needs a bit of work? We paid 1.5% over home report in 2021 when the market was crazy. The house was only 15 years old on a nice estate but had been very much neglected - needed new bathrooms etc.

totally depends on your area... e.g. i've had several home reports for Helensburgh/Cardross/Dumbarton recently and the houses have nearly all been listed on Rightmove as o/o £5k under the HR valuation. Asked for one from Gartocharn yesterday (listed with a west end EA) and it's listed as o/o £35k under the HR valuation.

I would have said stuff down here is going for on/just over the HR valuation if it's been listed since Jan onwards but stuff still sitting from last year is sometimes going under because the market has shifted. BUT - I don't know that for a fact as the prices aren't public yet...

When did you last bid?

@Sturmundcalm I last bid in September and £20k over HR on a property that was loads of 3s so needed a lot of work.

Decided I needed a break over winter, plus supply was pretty poor. Feels like supply is picking up again, but already getting emails of closing dates being announced even before I've viewed myself!

I think HR valuations have caught up with prices again now so they’re going for much closer to the HR value rather than the ridiculous amounts over that we’ve seen in the last 1-2 years.
Saying that we bought ours for 5%under valuation a couple of years ago, but it needed total renovation which has cost silly money due to building costs these days

Best friend Just sold in glasgow - got £69k over HR (west end ) 😳 shes over the moon x