5% Deals rising house prices

Sunnyseaside

I have just got AIP after a long time saving and now it seems that properties in my location for ftb are going up and also are selling straight away. I'm worried that I have missed the boat and that with my income I won't be able to buy now. Will the 5% mortgage  cause the market to flood with buyers and supply dwindle. 

lonibra

I think there will a flood of new first time buyers in the market who don't mind high rates as long as it gets them on the ladder. Mind you, people with 5% deposits have been locked out of the market for a full year now so there will be a big pent up demand.

amnblog

Supply is minimal currently in most areas anyway.

Thrugelmir

Supply is picking up (finally). Spring bounce is on the horizon. 

LMJ10

I hope it picks
up, I’m struggling to sell my house 😫

RelievedSheff

LMJ10 said:

I hope it picks
up, I’m struggling to sell my house 😫

How?

Everything round here, and I mean everything is selling for stupid prices!!

ukri

RelievedSheff said:

LMJ10 said:

I hope it picks
up, I’m struggling to sell my house 😫

How?

Everything round here, and I mean everything is selling for stupid prices!!

Perhaps he/she has priced it at a higher than “stupid” price?

getmore4less

LMJ10 said:

I hope it picks
up, I’m struggling to sell my house 😫

Do a right move search for your area, price range and property type  

when you have a reasonable sample click the include SSTC 
look at the numbers before and after

Then look at the SSTC ones and ask why did they pick that and not mine

Good chance unless something niche its price.

LMJ10

No it’s priced right not over priced at all, it’s a small first time buyer house/investor house, weve had 20 viewings but no offers. 

lonibra

20 viewings and no offers, points to price or something that's visible/evident only through a physical viewing. Which again means that's there's "better" to be had at the same price in your area.

The requirements of FTB properties has changed. For example a couple who both work from home now need a lot more space than in the pre-covid era. 

But, you only need one buyer who thinks it's worth what you've put it up for, plus with the flood of new buyers coming in to the market in April you should have more interest hopefully.

chasingfreedom

LMJ10 said:

No it’s priced right not over priced at all, it’s a small first time buyer house/investor house, weve had 20 viewings but no offers. 

You should add some pictures and get feedback to see if anybody can spot a potential issue preventing you from getting offers? I saw somebody else do similar and they got lots of advice.