Multiple houses for sale on same street

csgohan4

could be good for you with competition between each other

Tygermoth

I know your is victorian villas so this wouldn't relate but.... locally my area has a huge swathe of local houses go on the market.

This was due to a builder's incentive on the new houses. The houses had a builders retention to be paid in 10 years (I think it reduced the purchase price as the builders 'owned' a share so helped ppl get on the ladder). As such it's come due and people are all putting their houses up to cash out and pay the debt.

AnotherJoe

02346631 wrote: »

Having checked a bit more, the house that most recently came onto the market (if it sells for the asking price) they stand to make a 30k profit from what they paid which might explain a lot!
.

I doubt it, because that money and mo will be needed for the next property they buy, its not spare cash they'll have floating around after they buy another place. It's not a profit unless they are downsizing, because if the next place they buy costs more than the one they are selling, odds are that's gone up by more than the £30k "profit" you think they made.

Example - buy £100k house, sell for £130k. At time of buying, next house they are now buying was £200k, but that's gone up to £260k (same 30%). They now need an extra £30k compared to had they bought the £200k house at the time they bought the £100k one. The profit is illusory.

Slinky

AnotherJoe wrote: »

I doubt it, because that money and mo will be needed for the next property they buy, its not spare cash they'll have floating around after they buy another place. It's not a profit unless they are downsizing, because if the next place they buy costs more than the one they are selling, odds are that's gone up by more than the £30k "profit" you think they made.

Example - buy £100k house, sell for £130k. At time of buying, next house they are now buying was £200k, but that's gone up to £260k (same 30%). They now need an extra £30k compared to had they bought the £200k house at the time they bought the £100k one. The profit is illusory.

And don't forget the stamp duty. The price showing at land registry doesn't include the stamp duty cost they had to pay, so unless it's a really cheap property, the 'profit' will be less, potentially much less than £30K

ETA our current house is 1970s, there's very few come up here, less than 1 per year, but it's pretty obvious looking at the ages of our neighbours that this will change a lot in the next 10 years. Many of them have been here since the houses were first built or were the second people in.

[Deleted User]

The area where I used to live (two or three bed victorian terraced houses) was a very very high proportion of buy to lets (Landlord owned), only one or 2 owner occupied in whole street. Same with the next three streets. Always one or two for sale boards (prices rose rapidly while I was there and houses very popular with LL's). But now there are at least 5 in a street of 60 houses, and they aren't selling. For obvious reasons if you look at whats changing for LL's. Problem is the LL's would do a quick paint job, not fix the real problems and then sell them on. These sort of LL's don't care so much but owner occupiers, if they discover the state of the house, will.

I know the house I lived in had damp problems, gas problems (hob would sometimes work properly and at others take an hour to do veg),electricity problems, the bathroom was a complete bodge job covered up by non waterproof plasterboard, tiles were falling off the back etc. After living in it for a year, I wouldn't have bought the place if I was paid to, but another LL would have done. Some of these problems would have been picked up by a very thorough survey but not most of them.

pinklady21

New flight path? or changes to an existing flight path that means more noise? Might not be every day - some flight paths only get used in certain wind conditions, so you may not hear the noise every day.
when they are in use, it can be round the clock, depending on wind conditions, how busy the airport is etc.
This is becoming a serious issue around many UK airports, and the regulator (CAA) is not disposed to doing very much about it!
Not everyone is affected by aircraft noise, but those who are bothered by it, particularly if it is new noise they did not suffer previously, can find it very intrusive.

SamsReturn

In one way it's a good thing, if there's others for sale, everyone will be fighting for the same buyers, so you may get a good deal.

NicNicP

Myself and our old neighbours both put our houses on the market within a couple of weeks of each other. Nothing wrong with either house, we just both decided to move at the same time. Both sold very quickly.

Mickygg

It can just be a coincidence. My last but one road when I was selling had 3 other houses for sale. It looked bad as there weren't many houses in the street.

Thay all went on to sell, nearly 8 years later none have since sold, and I'm not aware of any being up for sale in that whole time.