Market turned?

zcacmxi

It seems that my local agent covering SE London / Kent is very busy... Difficult to get hold of them, difficult to find a slot for viewings... They're a lot more upbeat than last year.

As a bear, I've tried to dismiss as them trying to talk up the market, but the evidence is also pointing to them telling the truth... Houses selling quickly, sold boards in abundance. Some are coming on the market and selling in days. Certainly, within a month stuff is going under offer.

The newspapers also have adverts for mortgages in them from HSBC / Lloyds. Is it time to buy? Agent is telling me prices are now stabilising.

lynzpower

Have you installed property bee to see if prtoperty prices are really "stabilising" .I live IN SE london too and Im not seeing stabilisation Im seing price drops....??

Depends which way your looking though are you looking in a particularly sought after area??

TTMCMschine

I think you'll find banks never did stop advertising for mortgages. They still need your business, and a pound of flesh thanks to all those people who overstretched. We need to buy now, and as it happens - for the first time in years a mortgage would be cheaper then renting, so it's worth it, as a family home - not an investment - there's still room to go down in my opinion. I think there's a lot of smoke and mirrors going on. We have a sold board on the place we're buying, but it's a long way to go before the sold board becomes a reality.

Blacksheep1979

It's summer time, property always does better during summer months - waiting till oct/nov and it'll be slow again

mumoftwoandapig

Plenty of interest round our area but any properties selling are for knock down prices.

Mouseprice update this week shows sales at prices I would never have imagined just a few months ago. It seems vendors are becoming realistic and those are the ones selling.

brit1234

Yes the market has well and truely turned in the last couple of weeks. Mortgage nterest rates going up with unemployment, lending down and prices including asking prices falling again.

There are going to be big drops this summer as all those greenshoots disapear. It was obvious the greenshoots were not going to last when you looked at who promoted them in the media ie vested interest spin trying to influence sentiment rather than the economic realities.

The market has changed the crash is back on

hamblettamaud

i don't believe the market has turned. my own property is at rock bottom in a beautiful area, very suitable to first-time buyer or holiday home, and not a single viewer in months. people are either (a) still waiting to see if prices continue to fall, (b) cannot get a mortgage or (c) are worried about their longterm job prospects.

ILW

Think a lot may depend on your definition of rock bottom.

FoxtonsRIP

zcacmxi wrote: »

It seems that my local agent covering SE London / Kent is very busy... Difficult to get hold of them,

.

He probably had to flog his mobile phone so he afford to buy something to eat.

lynzpower

FoxtonsRIP wrote: »

He probably had to flog his mobile phone so he afford to buy something to eat.

Agreed. I lok in a lot of Ea windows to find only one member of staff in the office, this is throughout london.

hamblettamaud

ILW wrote: »

Think a lot may depend on your definition of rock bottom.

yes, it does. but i'm not bleating on about how my house is better priced than everyone else's and is sooo much more desirable, as everyone says (as you would expect). i'm being realistic. and it appears to me that with months going by and not a single viewer buyers are just not tuned into the whole market-turning idea.