Housing market

[Rooter]

So I have not bought or sold for about 9 years. Just decided to make the jump and the estate agent was round at ours yesterday and took pics at 11am. By 5PM we have 6 viewings booked for Wednesday and now we have 11 viewings before saturday! The market is absolutely crazy, we chose one of the big two agents in town, had a look and on their books they only have 3 x 3 bed houses for sale!! No wonder they were so quick!

They reckon we will exceed the asking price easily, its just scary how few houses there are for sale in the area!

What is it like round your way?

 

[chrisd]

The shame for me is that I live in a village with 2 excellent primary schools and there's hardly a house that has any school aged children in the village

 

[CliveW]

Plenty of property for sale and would sell easily if the banks would release their stranglehold on the mortgage market and allow short term bridging.

 

[Doon frae Troon]

Flat as a pancake here in my rural neck of South Ayrshire for the last 5 years.
Very few houses on the market.

Lots of new houses being built in Ayr. They span all the price bands and seem to be selling well.

 

[Hobbit]

Market is flat, prices are dropping... closing the steel works has killed it!

Cheap housing, cheap cars - "reluctant sale due to redundancy..."

 

[Lord Tyrion]

Lots of houses around and prices are the same as they were 7 years ago. I can be that accurate as that is when we moved last and pricing is the same, just recovered after the drop but not shooting away. A good spread of sizes and values, no problem finding something to suit your pocket. Lots of new, and largely unwelcome, building going on. Not sure how well it will all sell as there are plenty of existing house on the market. Any boom is not happening in the NE.

 

[Rooter]

So a brief snapshot says the south is really struggling with supply and the north is fairly stagnant..

 

[pbrown7582]

So a brief snapshot says the south is really struggling with supply and the north is fairly stagnant..

its quite localised some areas are buoyant even up this way houses are going as quick as they are on the market but some areas are really struggling, and all the steel redundancies are only going to make things worse in those areas.

 

[SwingsitlikeHogan]

its quite localised some areas are buoyant even up this way houses are going as quick as they are on the market but some areas are really struggling, and all the steel redundancies are only going to make things worse in those areas.

Generally housing in Surrey/Hants borders is on the continual up due to folks moving out of London. Where we are houses are highly 'prized' by young couples either who wish to start to a family or having just started one (location, location, location could not be truer). But there are only a few roads (maybe half doz) in the 'favoured' location where we are - and so few houses for sale at any one time (none in our road at the moment). Not surprisingly we are continually targeted by all the estate agents in town.

The changes to the stamp duty - specifically the removal of the step change at £500,000 - means that although at that price stamp duty old and new is the same - the psychological barrier has gone and houses that were in the £475k-£500k bracket seem to be jumping into the £510k-£535k bracket. And once there there is nothing to stop them climbing further.

 

[Ethan]

House prices pretty buoyant round Wokingham too, a few houses in our road have sold recently for good money, up from 6 or 7 years ago. Estate agents leafleting looking for sellers.

 

[jdpjamesp]

What is it like round your way?

Unfortunately there's always 4 or 5 houses for sale on my street meaning prices have stagnated since we bought 5 years ago.

 

[ADB]

Where I live the common problem is the lack of affordable family homes I.e semi or detached 4 bedder with drive/garden. It means smaller cottages are being extended as families with growing numbers need more space, but this also perpetuates the affordability gap lower down the chain.

You definitely need upwards of £700k to get a nice 4 bed detached place in my village, many of which are owned by retired couples who can't believe their luck!

 

[daverollo]

What is it like round your way?

Glasgow West End and other parts (not all) of Glasgow been pretty good these last 18 months, distinct lack of stock at the moment, certainly plenty of folk looking.

Plenty of property for sale and would sell easily if the banks would release their stranglehold on the mortgage market and allow short term bridging.

I take it you mean in Perthshire/Stirling? No issues in the mortgage market at the moment, plenty of great deals available all the way up to 90% loan to value and even some at 95% loan to value.

The real issue around bridging is the affordability and people being able to effectively pay for two properties. In buoyant areas lenders don't have an issue, but if properties aren't selling lenders (and borrowers) should be nervous about how long they will have two properties for. Plenty of ways around it, you just need to find a good broker. Sounds more like the issue is the lack of people willing to move to the area, or take the plunge onto the property ladder in your area.

 

[SwingsitlikeHogan]

Unfortunately there's always 4 or 5 houses for sale on my street meaning prices have stagnated since we bought 5 years ago.

where are you?

 

[jdpjamesp]

where are you?

Lancaster

 

[SwingsitlikeHogan]

Where I live the common problem is the lack of affordable family homes I.e semi or detached 4 bedder with drive/garden. It means smaller cottages are being extended as families with growing numbers need more space, but this also perpetuates the affordability gap lower down the chain.

You definitely need upwards of £700k to get a nice 4 bed detached place in my village, many of which are owned by retired couples who can't believe their luck!

Well - not much use to them unless they move - which I'm guessing most won't. But 'lucky' family when mum and dad are dearly departed.

 

[SwingsitlikeHogan]

Lancaster

Have quite fancied the idea of Lancaster in the past - it's location between North and South of the UK (yes lot's of folk will think Lancaster is up north, but of course it's not - yet)

I'd have thought the huge expansion of the Uni would have brought lots of buy-to-letters in. But there does also seem to be a huge development of 'on campus' halls that you can see from the M6 - so maybe not so much impact on town as you might expect.

 

[SwingsitlikeHogan]

Glasgow West End and other parts (not all) of Glasgow been pretty good these last 18 months, distinct lack of stock at the moment, certainly plenty of folk looking.



I take it you mean in Perthshire/Stirling? No issues in the mortgage market at the moment, plenty of great deals available all the way up to 90% loan to value and even some at 95% loan to value.

The real issue around bridging is the affordability and people being able to effectively pay for two properties. In buoyant areas lenders don't have an issue, but if properties aren't selling lenders (and borrowers) should be nervous about how long they will have two properties for. Plenty of ways around it, you just need to find a good broker. Sounds more like the issue is the lack of people willing to move to the area, or take the plunge onto the property ladder in your area.

Quite fancying a move to Blairgowrie in a few years time

 

[la_lucha]

Just the same in my street, 24 houses. 3 have been sold in the last 10 years. We bought ours last year and went to view it before the sellers had signed the documents to sell with the agents. They didn't get chance to get a sign up before we moved in. One went on the market about 4 weeks ago and the new people moved in at the weekend.

When we were looking there was a real shortage of decent 3 bed homes so we jumped on ours as soon as it came up.

 

[Rooter]

When we were looking there was a real shortage of decent 3 bed homes so we jumped on ours as soon as it came up.

Can i ask if you paid the asking price? dont care about the actual pound number!