Who else is selling and buying during Brexit

Gwendo40 · 23 April 2019 at 2:47PM

aussie_in_wales wrote: »

The downturn in prices isn't being seen in South East Wales.

A friend bought her house last year in February hasn't done any improvements and due to a change in circumstances put it on the market 2 weeks ago. Within 3 days she got £25 000 more than she paid for it and £8000 above the asking price. The price was equivalent to other local properties.

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That's interesting. Got a link to it? I'm assuming it's still on Rightmove.

novelty-socks · 23 April 2019 at 2:54PM

We put in an offer on a London flat in October and had it accepted after some negotiation. Went back asking for a further £20k off after the survey, and settled for a further £10k discount with the seller.

Completed in January and moved in last month after having a bunch of work done.

I don't see London prices increasing much in the next 3-5 years, but I'm also reasonably happy that we paid a fair price: the area is excellent and the flat stood out from others we saw, so I'm optimistic that we'll be somewhat sheltered from any big falls.

But also: whatever happens, happens. We've bought this as a place to live for at least the next few years. So as long as we can make the mortgage payments, we'll be fine.

cloo · 23 April 2019 at 4:00PM

We are selling an inherited a seafront property, but we're not in a hurry - it was priced a optimistically in the hope of get in the region but it seems like it might be a bit too much as apparently feedback so far has been it's too small. It was used as a weekend bolthole for decades and the demand in the town has moved over that time from retirement/boltholes to families who have actually been most of the viewers so far, but it's a little small for more than one kid. So that's more of an issue than Brexit, I think.

MumOf2 · 23 April 2019 at 4:17PM

Put property in the north-east on the market at what I thought was a bit of an unrealistic figure suggested by EA and received cash offer at asking price the following day. Completion on Friday which will be six weeks later. It needs a bit doing to get it up to scratch but owners to be are excited to start the work.

Of course this is the north-east where people keep their feet on the ground and get on with their lives, irrespective of all the handwringing that goes on within the M25.

MumOf2

DrSpendLittle · 23 April 2019 at 4:37PM

We put our house on the market in early March. Had an offer within one working day from our first viewers which we accepted (we wanted a quick sale as we were eyeing up a property to buy and had to be proceedale to view it).

We had an offer accepted on our 'dream home' exactly 4 weeks later, having looked around a few others and lost out on one because our best and final offer wasn't high enough (fate, eh?). Our 'dream home' had been on the market for 5 months. We got 3.5% off the asking price, having initially offered and had rejected 5.3% below asking.

Currently in the middle of conveyancing. Just a small chain of 3. We've cash buyers who are renting and we're buying a property that will be empty next week. Hoping to get mortgage offer this week. Searches and full structural next week. Hoping for mid June completion.

We ignored Brexit. We just went for it. Life is too short. We wanted a new home and we know we will stay in the one we have chosen beyond the full mortgage term. Gone for a 5 year fix. Happy as Larry.

heston2014 · 23 April 2019 at 5:16PM

Ours went on the market a little over a week ago (SE London flat), 3 viewings so far but no offers yet. House hunting at the same time, waiting to see if we get any solid offers on ours to enable us to put an offer forward.