Housing Market

[Doon frae Troon]

I don't know how things are where you live but the Scottish market seems to have gone hyper.
Four properties in our small village sold as soon as they went on.
Just putting my mothers house on, so good timing I hope.

 

[ColchesterFC]

I'm assuming that the stamp duty holiday has something to do with it. I'm looking to buy and have found a couple of houses that I liked the look of. Unfortunately I'm offshore at the minute so not in a position to get my mortgage agreed in principle or go to view anything. The two places I would have viewed have been SSTC within a week of them going live on the internet.

EDIT - that's on the east coast of England close to the Norfolk/Suffolk border.

 

[BrianM]

Property market is booming in the Highlands, my brother in law is an estate agent and hasn’t been so busy in a long time.

 

[Imurg]

Some of the surge in house sales is coming from people moving out of cities where they worked in offices and now either can or have to work from home
Next door sold within a week for the asking price and it's a couple moving out of central London. Work from home, easy connection to London when they need to.

 

[Deleted member 21784]

House accross road went on market Friday last week..

Sold by Monday

 

[road2ruin]

We put our property on the market on Saturday last week and it was sold by the Tuesday for over asking!

 

[IanM]

Nothing surprising.... anyone remember the bubble caused my MIRAS Removal circa 87/88?

• Stamp duty holiday
• Shortage of houses
• People escaping the inner cities

Mind you, a price correction (slump) followed in the early 90s !

 

[harpo_72]

Rental market is pretty good as well.

 

[ColchesterFC]

Nothing surprising.... anyone remember the bubble caused my MIRAS Removal circa 87/88?

• Stamp duty holiday
• Shortage of houses
• People escaping the inner cities

Mind you, a price correction (slump) followed in the early 90s !

I'm wondering if something similar might happen again. With the furlough scheme ending and 1000's of job losses predicted there could be a lot of people not able to cover their mortgage/rent and looking to downsize.

 

[harpo_72]

I'm wondering if something similar might happen again. With the furlough scheme ending and 1000's of job losses predicted there could be a lot of people not able to cover their mortgage/rent and looking to downsize.

That’s a very realistic danger, money is cheap to borrow and a lot of people have got carried away... could sell the house and buy it back next year cheaper ?

 

[IanM]

Or find you couldn't afford to buy it back or not get funding.......

 

[Mandofred]

Lots of houses around here selling very quickly if they are at the right price.

 

[harpo_72]

Or find you couldn't afford to buy it back or not get funding.......

That would be a massive own goal... plus the loss on the interim property needs to be accounted for

 

[jim8flog]

Nothing surprising.... anyone remember the bubble caused my MIRAS Removal circa 87/88?

• ![/QUOTE

Yes and the slump a few years later when lots of people realised they had overpaid.

 

[GB72]

Yep, market is booming where I work. Lot of people in lockdown realising that their property was not right for them (too big, too small, no garden etc) quite a few looking to get out of urban environments and move to more rural locations. The Stamp Duty holiday has helped but there was also high demand before the lockdown and that just did not go away during that period.

To be honest, it never really quietened down during lockdown with people moving in circumstances that were allowed (moving to vacant properties, newbuilds etc).

 

[Doon frae Troon]

I suppose the new working from home experience will result in a 'move to the country' attitude with the urban dwellers taking the hit.

 

[Bazz]

Ours sold in 5 weeks, was tougher getting one to move to as they went so fast. Ended up getting one we loved but for 9k over the guide price.

 

[GB72]

I suppose the new working from home experience will result in a 'move to the country' attitude with the urban dwellers taking the hit.

Certainly an element of that coupled with how unbearable some found lockdown in an urban environment. Seeing people being able to walk out their door and stroll around the countrywide for an hour every day left quite a few wondering whether being in a large town or city was worth it with nowhere near to go and get some peace and fresh air.

 

[Lump]

Just in the process of buying, it’s been an utter nightmare during lockdown. Has delayed things by at least 3 months

 

[jim8flog]

Moving to the country!!

Watching a House the Country for years made me realise just how many people do not research exactly what that means before moving.

Lots of villages with no pub, no post office and quite often not even a local shop any more, no buses or maybe two a day one to the local town at 10 and another one back at 3pm.

Ambulances can takes hours to get to you if you are not considered to be a priority. The police might just phone you a few days later if the do not consider it serious enough.

Cockerills that wake you up at dawn. Church bells that wake you up at 8 am if the cockerill has not worked.