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A few houses up for sale on the same road

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AD13
AD13 Posts: 57 Forumite
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in House buying, renting & selling
In the area we're looking for a new house, 4 houses on the same road have come up for sale within the space of 2 days. One of them fits our requirements and price range so we're booked in to see it at the weekend - I'm just wondering if the rate of the new houses around it coming onto the market is something to be cautious about - and if there would be any reason this would put you off?

TIA
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  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    BTL sell off? I would wait for price drops.
  • AD13
    AD13 Posts: 57 Forumite
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    Thing is it's a highly competitive area at the moment with houses like this going in the space of days; I'm not sure the price will drop but didn't think about BTL. I was more thinking what do they know about their road that I don't that's causing them all to want to sell!!
  • emmatthews
    emmatthews Posts: 678 Forumite
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    It may just be coincidence but I would check local planning applications for that road and those surrounding it.
  • DaftyDuck
    DaftyDuck Posts: 4,609 Forumite
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    One common reason for this (and I know Crashy will weep tears of disagreement) is the hugely successful sale of another property, allowing that agent (and others) to leaflet the street, saying "We sold number 7 for £XXX,750 (and it was a dump); now let us sell your beautiful home for even more money"...

    Mind you, I'd agree with Crashy (which causes me great pain and angst), in that several houses on the same street may also be a chance for cross-agent discounting, and a decent bargain at the end. Possibly.

    It's also possible that 'im at number 7 has finally got released from Chokey, and is back, stabbing all the residents eyes out and burning their cars! There may be even more rush to sell, even better bargains to be obtained, and even more "buyer's remorse" as you recuperate in hospital....

    Go into each agency, ask them, as the vendors, ask the neighbours, ask in the local shop, the pub, the PCSO... the list is endless.

    Find out why before you buy...
  • civicfee
    civicfee Posts: 19 Forumite
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    In my little close there are 3 up for sale, but thats largely due to expanding families and the properties being 1 and 2 beds; they are higher turnover properties. The 3 beds seldom come up.

    We have been leafleted by loads of agents too as there are different agents selling them all and trying to drag us in.
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
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    Depends on how long the road is. 4 houses in a cul-de-sac of 10 is more significant than 4 on a road of 50, some of which may have been converted into flats.

    Housebuying's also seasonal, and the weather's been picking up lately. It's no more of a coincidence than when all the daffodils come out at the same time...
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    It would be very strange if there was never a time when several houses in the same street didn't go on sale at the same time.

    Indeed happened to me maybe 35+ years ago, must have been half a dozen in my street within fifty yards of my house. Pure coincidence.

    As said it may also be less unlikely than you'd think due to one house selling at a high price meaning others are spurred on to sell. As Crashy weeps :D

    Of course, once in a while it could be something nasty like problem neighbours but I'd suspect thats less likely than pure coincidence or others selling once neighbour has.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    Sometimes you can get good information about local areas from local newspapers.
  • Mickygg
    Mickygg Posts: 1,737 Forumite
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    I've seen this happen to. I was wary of a particular road and I convinced myself something was wrong and stayed away. They all sold and none have been for sale for many years......so my loss!

    As long as you do your research you should be ok.
  • NicNicP
    NicNicP Posts: 249 Forumite
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    We put our house on the market shortly before our attached neighbours. They'd already agreed to buy another house (were lucky enough to be able to buy before selling) and we put ours up after seeing a house we fell in love with. We'd lived there for 15 years and the neighbours for 20+. On paper it may have looked suspicious but both sold very quickly.
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