Is the market dipping? Selling difficult?

jimpix12

No way will you find somewhere and exchange in 8 weeks, unless it's a new build ready to go.

I agree that prices are only dropping slightly, but there are just so few sales happening now post-referendum. Once sellers accept that they need to be reducing to get a sale, the drops will start coming in thick and fast.

magicpork

prices of new-build seem to be stable in Stratford/Leyton area so far.. I've reached out to many developers and none of them are willing to lower their prices yet..

I did hear from one friend whose property in that area was downvalued by about 5-6% and the developer accepted the valuation price.

ciderboy2009

spunko2010 wrote: »

Can all these people claiming houses are going up in price and/or going SSTC post-Brexit post some links from Rightmove please?

Search under Easton, Bristol - added last 14 days

Of 20 properties added (I'm ignoring the commercial one) 5 are showing sstc & 2 as under offer.

5 of the remaining ones were only added yesterday or today and a high percentage of the others are vendors trying it on a bit too much with the prices.

hanb

I've been looking in Bristol too. I've not noticed a dip here. We had an offer accepted early June and were waiting on them to find somewhere (outside of Bristol) and they now have.


We won't lower our offer (unless the valuation or survey suggests we should) and I can't imagine that all the people that viewed just the same houses as us, let alone others, are all going to stop looking and keep paying rent!


I worked it out that in the 5 years our mortgage will be fixed for, we'd spend 70k on rent (not even close to the most expensive flats in Bristol). So not only will we spend 5 years paying off equity, not rent. We'll have our own home and not have to deal with rent increases, being served notice or any of that. I can't be the only person thinking that way and so I can't see Bristol suffering

jimpix12

ciderboy, some have gone under offer it would seem since Brexit so I stand corrected. But not many of them really. Sounds like you're falling for the EA's tricks of relisting old property. Get PropertyBee.

http://www.rightmove.co.uk/property-for-sale/property-57934256.html - SSTC in April

http://www.rightmove.co.uk/property-for-sale/property-35459925.html - SSTC in October 2015 (!)

I suspect they reason they have been re-added by the agent is because the sale is either about to, or has, fallen through.

Still not fully convinced that houses are selling now.

ciderboy2009

spunko2010 wrote: »

Still not fully convinced that houses are selling now.

I give up then - I know they are and you're determined that they're not so I think we'll just have to agree to disagree!

Personally, I wish they would go down a bit here but there's absolutely zero evidence of that happening - in fact, last month the local paper reported that prices here were increasing at a higher rate than the SE!

Bear in mind that Easton is just a small part of Bristol - at one time it was one of the cheapest areas to buy. I've checked a random selection of other areas and all are showing similar results.

Jagraf

Personally I would never buy at this moment in time. There are no definites with what the market will do (nowhere near) and everyone is hoping for different things. We've gone from ridiculous valuations and now we will see buyers fighting back with low offers. It's a bit of a tug of war.

Crashy_Time

Harper123 wrote: »

I'm not saying prices are going up. I am saying properties are being listed post brexit and are selling. Though less are being listed.

Follow the train line north out of Euston, Kings Cross or St Pancras and look within a mile of each station. The Bedford line, the Milton Keynes line, the Cambridge line, the Peterborough line.

Basically anything I couldn't afford before I still can't afford now

Any big job losses in London will kill that gravy train.

Crashy_Time

hanb wrote: »

I've been looking in Bristol too. I've not noticed a dip here. We had an offer accepted early June and were waiting on them to find somewhere (outside of Bristol) and they now have.


We won't lower our offer (unless the valuation or survey suggests we should) and I can't imagine that all the people that viewed just the same houses as us, let alone others, are all going to stop looking and keep paying rent!


I worked it out that in the 5 years our mortgage will be fixed for, we'd spend 70k on rent (not even close to the most expensive flats in Bristol). So not only will we spend 5 years paying off equity, not rent. We'll have our own home and not have to deal with rent increases, being served notice or any of that. I can't be the only person thinking that way and so I can't see Bristol suffering

You are assuming that rents won`t start falling though.

Samsonite1

kilby_007 wrote: »

I just had a quick look at Bromley myself, what the hell! 49 new properties and 31 reductions in one day yesterday! How big is Bromley? My rightmove search area covers a large town and 6 villages and yesterday I only saw 8 new properties and 10 reductions.

Anyway, if it's true that this area is "buoyant" then I'm surprised there were 31 reductions in one day. That is not an attribute associated with rising house prices...

I does vary massively on areas in Bromley borough - I am actually Orpington - houses I have been tracking - most re-listings in areas I was looking go up in value. Just saw one recently that I wanted to view in the past - was £800k, now re-listed at £850k. Our own house was not selling, so we changed agent and put the price up and got 5 offers. Bromley is the biggest borough in London geographically, I guess it really varies an awful lot. Actually Bromley itself (town rather than borough) was starting to look more affordable than Orpington.