Why is nobody selling?

lisyloo

The election was certainly good news in terms of economic and political stability.
Personally I think the sellers/estate agents are being overly optimistic if they expect big rises when wages are not rising, we have zero inflation, the same government and already high prices.
I could be wrong, only time will tell, but I think affordability is highly highly constrained in most areas.

missyrichards

lisyloo wrote: »

Personally I think the sellers/estate agents are being overly optimistic if they expect big rises when wages are not rising, we have zero inflation, the same government and already high prices.
I could be wrong, only time will tell, but I think affordability is highly highly constrained in most areas.

Yes, I'm wondering if it is optimism too. I'm going to be keeping an eye on sold prices over the next few months. I would hate to be a first time buyer right now buying in London.

padington

The wind is in the sails of the sellers, asking prices have been massively upped around the few roads near me. Places that might have been 450k are now being offered as strictly only offer over 500k or 550k flat rate asking price.

The newspaper headlines will be house prices go up by 10% in one month ! That will cause a small panic and selling prices should follow the lead albeit not as high.

Those that bought just before the election bought the dip. It's up up up from here on in.

jacko74

padington wrote: »

The wind is in the sails of the sellers, asking prices have been massively upped around the few roads near me. Places that might have been 450k are now being offered as strictly only offer over 500k or 550k flat rate asking price.

The newspaper headlines will be house prices go up by 10% in one month ! That will cause a small panic and selling prices should follow the lead albeit not as high.

Those that bought just before the election bought the dip. It's up up up from here on in.

I'm guessing this is yet another Londoncentric view of the property market.
I admit I'm also seeing a slight increase in ASKING prices, but it's all irrelevant as they're just joining the ranks of unsold, overpriced dross that's already been sat on the market for years... It's stagnate, stagnate, stagnate from here on in!

padington

jacko74 wrote: »

I'm guessing this is yet another Londoncentric view of the property market.
I admit I'm also seeing a slight increase in ASKING prices, but it's all irrelevant as they're just joining the ranks of unsold, overpriced dross that's already been sat on the market for years... It's stagnate, stagnate, stagnate from here on in!

Move to London, certainly not the case here. Its foot on the pedal stuff. Proper property boom town since the election. It will come through the stats in a few months. Then ripple out more across the country.

Jon_B_2

jacko74 wrote: »

I'm guessing this is yet another Londoncentric view of the property market.
I admit I'm also seeing a slight increase in ASKING prices, but it's all irrelevant as they're just joining the ranks of unsold, overpriced dross that's already been sat on the market for years... It's stagnate, stagnate, stagnate from here on in!

Why does everyone feel that London is the home of rapidly rising prices?


Only a couple of weeks ago it was announced that the city where I live; Bristol has the highest rises at the moment at 10%.


I bought a new build back in Jan for £275k, i'm not moving in til Nov, yet equivalent house types in not such good locations are being upped in price by the developer month on month. Currently sitting advertised at £293k.


There are a lot of locations where prices are riding rapidly, not just in the South East.

missyrichards

padington wrote: »

Move to London, certainly not the case here. Its foot on the pedal stuff. Proper property boom town since the election. It will come through the stats in a few months. Then ripple out more across the country.

I was planning on moving away out of London (zone 6) later this year but I'm having a sinking feeling about doing so.:o I'm wondering whether to just move and buy a bigger property near here and hope that it will have increased in value when we want to retire (10 years) and then we could move again then. Bah, where's a crystal ball when you need one.:rotfl:

MARTYM8`

padington wrote: »

Move to London, certainly not the case here. Its foot on the pedal stuff. Proper property boom town since the election. It will come through the stats in a few months. Then ripple out more across the country.

So goes Paddington so goes the UK - eh padington?

Or maybe not.

There is only so much debt and money laundering even the UK can cope with!

padington

Jon_B wrote: »

Why does everyone feel that London is the home of rapidly rising prices?


Only a couple of weeks ago it was announced that the city where I live; Bristol has the highest rises at the moment at 10%.


I bought a new build back in Jan for £275k, i'm not moving in til Nov, yet equivalent house types in not such good locations are being upped in price by the developer month on month. Currently sitting advertised at £293k.


There are a lot of locations where prices are riding rapidly, not just in the South East.

Bristol and Brighton always will do well, they're just about the only places ex Londoners can handle moving too. Everywhere else feels like it's going back in time.

jacko74

Jon_B wrote: »

Why does everyone feel that London is the home of rapidly rising prices?


Only a couple of weeks ago it was announced that the city where I live; Bristol has the highest rises at the moment at 10%.


I bought a new build back in Jan for £275k, i'm not moving in til Nov, yet equivalent house types in not such good locations are being upped in price by the developer month on month. Currently sitting advertised at £293k.


There are a lot of locations where prices are riding rapidly, not just in the South East.

Yeah but to fair Bristol has always been a bit like 'London-Lite'... full of hip/pretentious gullible mugs willing to pay silly money for property.;)