Multiple houses for sale on same street

02346631

Would this put you off? I'm in the process of buying a house on the street where two have sold and another one is currently for sale all in 2017. I freaked out a bit thinking that maybe there was an issue down there, my surveys were all fine so nothing structural I think. I'm also partly thinking maybe there has been a domino effect after people realised how much profit they can make from their own purchase price.

I've checked crime stats and they are fine, the area isn't the best in the world but my FTB budget dictates the areas I can buy at the moment, unfortunately. I can't think what else to check really. I suppose there's always a sense of a jump into the unknown with a house purchase but this did get me thinking. My mortgage is a 5 year fixed though so I'd be stuck there for a while if there was a problem.

Davesnave

There is nothing to substitute for just visiting at different times, particularly evenings and weekends, to see what your own eyes and ears tell you.

I knew one of the problems we'd face at the house we own now, well before exchange. It's sorted and has been for a long time, but it was better not coming as a surprise!

bouicca21

Have you looked at planning permissions for the area? Something nasty in the offing?

On a re benign note, how old are the houses? Any possibility that ownership is generational? That they were sold to people all at roughly the same stage in their lives who have now reached the point of needing to move on.

sammyjammy

It doesn't necessarily mean anything bad. There are lot of sale signs up in the streets surrounding me, reason being? The sale sign goes up one day and a Sold STC the next (without exception as far as I can see) so the market is very boyant here and people are taking the opportunity to sell up.

02346631

Thanks for the responses everyone. I've been down to visit the area at least half a dozen times so far, especially at night and it's always been really quiet. You can't cover all the time though, can you! The searches have come back ok in terms of planning permission as well, nothing in the offing at the moment.

The last point about sales is a valid one I think. The house I'm purchasing went up for sale on a Wednesday and by the Monday there had been 7 offers so that shows how buoyant the market is I suppose! The surrounding streets just aren't the same though in terms of a number of houses, although the ones that do come up do go quickly. This is why I'm hoping it's people seeing the sold boards on their street etc.

Callie22

bouicca21 wrote: »

Have you looked at planning permissions for the area? Something nasty in the offing?

On a re benign note, how old are the houses? Any possibility that ownership is generational? That they were sold to people all at roughly the same stage in their lives who have now reached the point of needing to move on.

This has happened recently on our street. The houses were built in the 60s, and it seems that a lot of them were still being lived in by the original owners (or their children, in a couple of cases). There weren't any house sales here for a few years, but then in the last couple there have been quite a few, and in almost all of the cases it's been because the elderly residents have either passed away or moved into residential care. I'm guessing that they were all of a similar age when they purchased the houses, so it's inevitable that they're all going to be moving on (in whichever sense!) at a similar time.

02346631

The houses are old victorian terrace ones. Where i've been able to see the sale information, most people have been there for 5-10 years which seems a common amount of time for people to stay in a house for?

They are 2 bed houses as well so growing families are unlikely to be there for a long time.

thmaga

If there are no obvious issues (check local press if its an unfamiliar area, could be new undesirable development nearby etc) I wouldn't worry.

We've had about 5 or 6 of the houses in our street up for sale/rent at once with no obvious reason behind it.

kram

Are their any shops or cafes nearby where you ask people what it's like in the area, it would also be worth googling to see if that brings anything up as well.

Lauralou79

Our house was one of 3 up within a couple of months of each other. Including next door just after our offer was accepted. Luckily we knew the area and weren't that concerned. Been here two months no problems. Sometimes it's just coincidence. But worth checking out the area etc if worried!

AnotherJoe

Three? Thats nothing. My street (close, to be accurate) has about 40 houses in it. There are currently 4 for sale/sold I am aware of from boards, so may be more I dont know about. There are no issues here.

Many years ago i lived in a street of maybe 150-200 houses (Victorian terraces) and at one point there were perhaps a dozen houses for sale within the center third of the street where we were, yet none in the first and last third. You might have thought it was a road being planned to drive through that bit, or obnoxious neighbours. It was just happenstance.


Its inevitable that there will be clusters where several close-by houses are for sale, even if its totally random, and its not totally random, because (as you say) its not uncommon for one person to sell and that kicks nearby neighbors into action who've been mooting the idea.

As with all purchases, even if its the only one for five miles, I'd still advise driving around at different times of day and night to check it out.