House Market Stalling?

AndyGuil

padington wrote: »

Location, location, location reported north london not selling in weeks or days but now things going in hours. Phill says he's never seen anything like it.

I struggled to get a place because of this. The only reason I managed to get the place I have now is because it was listed on a Saturday and I could get there immediately to view. I offered straight after the viewing.

saving2704

I live in the north west. Bought a 2 bed semi in 2007 on a 100% mortgage. Sold it last year (at a loss) due to divorce. Moved in with parents whilst I got myself straight and saved a deposit. now it looks like the only thing I'll be able to mortgage is a garden shed - despite being on a decent wage for this area. Frustrating!!!

Surely common sense will prevail though that the market can't sustain the rate anyway?!? I know of a firm that has doubled its conveyancing team in the past few months!

MrRee_2

Maybe it's because the South wasn't hit by large falls in prices ... but I've only seen a 10% rise since 2008 along the seaside towns of the South coast.

They are selling, but some are sticking (even when they have price drops) ........ London is a unique micro climate all its own.

Frugalsod

MrRee wrote: »

Maybe it's because the South wasn't hit by large falls in prices ... but I've only seen a 10% rise since 2008 along the seaside towns of the South coast.

They are selling, but some are sticking (even when they have price drops) ........ London is a unique micro climate all its own.

I live on the South coast and there are little bubbles in some locations. There has been an increase in prices asked but the numbers of transactions has collapsed near me. The bigger agencies are suggesting prices are rising and getting people to list their homes but they are stuck without any interest for many months. The few agents that are suggesting sensible prices are still selling and doing quite well, though things are clearly tougher for them. There are a lot of new builds in the area and there are few buyers to those that have just completed.

MrRee_2

I do think that the pent-up demand was quenched last year, now there are no longer 5 people chasing each property.

Prices have increased and buyers are starting to fight back by sitting on their hands.

Interest rates are the key - everything depends upon them ...... even BTL buyers will think twice as if their cash can get 5% yield on deposit, they may cease buying.

chucknorris

Loughton_Monkey wrote: »

Can't see why there is any problem. The December/January lull happens every year. Wait until spring, and then take a temperature reading.

Schorchio!