Multiple houses for sale on same street-should I be worried?

VM1305

Hello
We had our offer accepted on a house a couple of months ago and progressing with the purchase. It's in a high demand area with a fairly limited supply of houses coming to market (especially in the weeks before the referendum).

Around 3 weeks ago another house on the same street came to market for a slightly higher price than one we are buying (it has an extension) and was SSTC within a few days.

In the last couple of weeks two further houses on the same street have come to market, both similar prices. I'm a bit worried about why multiple people in the same street are selling up all at the same time, especially as this isn't happening in adjacent streets or the nearby area where supply still seems low. Should I be worried?!

If this happened to somewhere you were buying would you be worried and would you do any additional checks into the area?

moneyistooshorttomention

Guess you need to check if there is a new development about to be built nearby?

kingfisherblue

Few houses come up for sale on the estate where I live. It's just three roads. However, three have come up recently. One family is moving to a different part of the country. The other two houses are for sale following the deaths of the owners (average age of my neighbours is 70-90).

Having a few houses up for sale at the same time doesn't always mean that there is a problem with the area.

moneyistooshorttomention

kingfisherblue wrote: »

Few houses come up for sale on the estate where I live. It's just three roads. However, three have come up recently. One family is moving to a different part of the country. The other two houses are for sale following the deaths of the owners (average age of my neighbours is 70-90).

Having a few houses up for sale at the same time doesn't always mean that there is a problem with the area.

This one as well - ie my road tends to have pretty elderly people in many of the houses.

Hence an awful lot of them are going to come up for sale over the next few years in all probability.

rosie383

Agree with the above posters. Our road is lovely but in the past few weeks there have been about four up for sale and a couple for rent. No reason in particular.

student100

Also once people see a neighbour put their house on the market, especially if it sells quickly, they may be more likely to think about putting their own house up for sale.

Thrugelmir

VM1305 wrote: »

and was SSTC within a few days.

Seems to dispel any concerns. I'd be worried if properties weren't selling at all.

Mickygg

I was looking at a particular road for about 2 years. There are about 20 houses on it and I estimate about 8 of these have sold/for sale in the last 2 years. I did some digging which I suggest you do. Turns out through good old rightmove and zoopla that in the previous 5 years there had only been a couple of sales.
I know the road and the area well with these 20 houses on, nothing to worry about just happens to have had lots of activity recently.

gettingtheresometime

kingfisherblue wrote: »

Few houses come up for sale on the estate where I live. It's just three roads. However, three have come up recently. One family is moving to a different part of the country. The other two houses are for sale following the deaths of the owners (average age of my neighbours is 70-90).

Having a few houses up for sale at the same time doesn't always mean that there is a problem with the area.

Bloody hell Kingfisher you've described my estate to a tee - not in S Wales are you??

NicNicP

We put our house up for sale and our neighbours (attached) did the same a week or so later. Our neighbours had already agreed a purchase and we able to buy before selling. We happened to see a house we loved so sold only for that house. We sold in under 24 hours, next doors in about a week. Loved our neighbourhood. We'd been there nearly 15 years and next doors over 20. It was just our circumstances that made us want to move.

kingfisherblue

gettingtheresometime wrote: »

Bloody hell Kingfisher you've described my estate to a tee - not in S Wales are you??

Nope, Merseyside. Many of the residents of the estate bought the houses almost sixty years ago, when they were built. Others have moved in since. Only a small amount are houses, with most being bungalows, so they're popular with the elderly. I was brought up round the corner and my mum is still there (in a bungalow) - I'm in one of the houses.

It's quite handy in some ways - the slightest thing that is different, and someone spots it. Neighbours who don't pick up their milk or open their curtains tend to be spotted quickly. My mum's neighbour rang me a couple of weeks ago because Mum's curtains were closed. She was fine, but if she hadn't been, at least someone had alerted me (she had closed the curtains to keep out the sun). It's also quiet and trouble free. People like to stop for a chat. It's quite a friendly palce to live.