Market picking up? (seems to be in Glasgow anyway!)

PPPingu

Hi All,
I'm wondering if we are just seeing a wee uptick in the market in Glasgow only, or across the rest of the UK as well?

We have accepted an offer on our property in the last couple of weeks, which is great, but a load of the properties that we were watching on RM have also sold in the last 2 weeks, we are going to see a Semi-Detached 3 bed tonight, but there has already been enough interest to take it to a closing date (next week) which has not been common recently, other 3 bed semis are going for around 10% over the OO price, and are only on the market for a matter of days before shifting - I guess its a sellers market for that particular type of house!

Here's hoping that we get something anyhow.:)

Fangg27

Unless it's all cash buyers I can't see properties selling at 10% over asking price. I don't see the market picking up for a fair few years and that will be after significant drops. I keep seeing properties going to sold and then they are available again a couple of months down the line.

PPPingu

Hi Fangg,
Up here we do "offers over" a lot more than elsewhere in the UK, so they do tend to go for about 10% more than the OO price, as the OO price is usually on the low side (to get the hits on RM, and get people interested)
If it is marketed as "fixed price" it would be very unusual for the seller to get anything more than the advertised price, which is probably more in line with the rest of the UK.

Fangg27

PPPingu wrote: »

Hi Fangg,
Up here we do "offers over" a lot more than elsewhere in the UK, so they do tend to go for about 10% more than the OO price, as the OO price is usually on the low side (to get the hits on RM, and get people interested)
If it is marketed as "fixed price" it would be very unusual for the seller to get anything more than the advertised price, which is probably more in line with the rest of the UK.

Hi PPPingu,

I see. It's very different where I am (Manchester) where we tend to get properties listed above peak prices, which is annoying as a potential buyer to say the least.

brit1234

I can only see house prices falling from here, thats not a bad thing really. They are very overvalued and falls will mean decent families will be able to get on the housing ladder.

Fangg27

brit1234 wrote: »

I can only see house prices falling from here, thats not a bad thing really. They are very overvalued and falls will mean decent families will be able to get on the housing ladder.

I've been hoping and praying for this for years. House prices are ridiculously out of line with wages and they are only being kept up by the low interest rates. I keep telling myself this but I can't wait forever.

PPPingu

brit,
that sounds great, but I cant find a way to make people sell me a house any cheaper than the going rate!
I guess as a buyer and seller I have to take the rough with the smooth - very happy to sell our house at a fair price, but I guess we'll not be getting an amazing bargain when it comes to buying.
Market forces eh - can't beat em!

SuperBOB

Was your house in Kelvindale?

leanneb010

I live in Glasgow and certain types of houses in certain areas are selling, can't comment on how much over they are, but in other areas they are not selling at all. We viewed a flat that had been on the market for a year and had dropped £10k, had 4 viewings and our offer was accepted below the offers over price. Pulled out due to issues flagged in the survey, but there are loads of flats in the area for sale and lower/upper cottage flats, but all are still overpriced (So many ex-local authority that have been bumped up by £60k).

EatingGlitter

The road we are buying on has had 6 houses (out of 40) go on the market within the last 2/3 months and every single one of them has sold straight away.... which is odd because the two roads parallel have lower prices, same size house but have been on for over a year....

PPPingu

Alirghty Bob,
We're selling up in the West, close to Kelvindale, looking to buy in the South side.

Leanne, sorry to hear about your purchasing problem - was it something that came up in the survey that had been missed in the home report? hope you didnt lose too much in the offering / surveying process. what do you mean about the 60k bump? is this an increase on selling price?