Any one else noticed hardly any houses on the market for sale

BikingBud

Human response and fear of missing out.

People will offer over the odds at with limited understanding of what they are committing to, in the full understanding that they are not really committed until exchange.

Bit like panic buying toilet roll really.

cheeky-peach

Gosh we wish our house will sell quickly so we can proceed with a house we love! Though ours has been on thr market a week with 10 views but clearly no one thinks its 'the one' yet... hopefully soon though. We aren't in a rush to move as such but we'd rather sooner ofc as we are relocating back to my home town area so it'd be good to get it done. 

We honestly thought (clearly wrongly) that we'd get a few offers in a first week as we have a 4 bed detached with a study but I guess that's not what everyone is looking for. 

JamoLew

Rightmove has 2,242 within 5 miles of my postcode £22k to £2m 

Just depends on the area

mrlegend123

eidand said:

mrlegend123 said:

mad to buy now hence why most people are not selling hence reduced supply. safer to wait until we see what comes from the end of stamp duty, furlough and the threat of inflation etc ........the world's money supply has doubled and eventually it will feed into prices over the next year or two. 

That's your opinion, but obviously many do not think like that as evidenced by what happens now and has been happening since covid started.

A lot of people have well paid jobs, a lot of companies are doing well.

Many don't care about furlough and whatever other things you mentioned.

People who are at threat of losing jobs are not buying houses and even if they are, they are irrelevant in the grand scheme of things.

The market doesn't wait and there are plenty of buyers. People need a place to live, that's the driving force, so whatever happens to the economy, people will always buy houses. That's the reality of it.

If you need a place right now, you'd be silly to "wait and see what happens". Some of us value a decent place to live far more than a few k or even tens of k in the bank. That's the reality of it. 

I agree, but there will be a end point someday (or year) to stop people using their house as a ATM and speculative asset due to Government policies. We now live in a world where we have to be £3 debt to have £1 growth. wage growth has been in stagflation and asset prices driven up by loose money.

House prices (mortgage) = base rate + risk premium + supply/demand

0.1% base rate, central bank owns 40% of mortgages (QE) to reduce risk, restricted supply and high demand (stamp duty, help to buy, Hong Kongers, 95% mortgages etc).

In my area (South) , the young are being driven away to cheaper areas (North).......

If policies were 'normalised' pre-2009, house prices would drop at least 30-40%.

mrlegend123

I understand its current Government policy to use house prices to maintain standards of living. you need to join the race (ponzi scheme) or not... 

Octothorpe

MovingForwards said:

I've just done a 40 mile search from where I used to rent and there's over 1500 properties currently for sale, again up to the maximum amount I could have borrowed and the respective 15% deposit. Dropping the budget down to what I actually decided to set when looking there's 714 properties within a 40 mile radius. 

That's just on one platform, let alone checking others.

Options are keep looking in whatever radius you've set, or extend your radius like some of us did.

With kids settled in school and job commute that's not an option for everyone.

40 miles is a MASSIVE search area! 😂

Octothorpe

cheeky-peach said:

Gosh we wish our house will sell quickly so we can proceed with a house we love! Though ours has been on thr market a week with 10 views but clearly no one thinks its 'the one' yet... hopefully soon though. We aren't in a rush to move as such but we'd rather sooner ofc as we are relocating back to my home town area so it'd be good to get it done. 

We honestly thought (clearly wrongly) that we'd get a few offers in a first week as we have a 4 bed detached with a study but I guess that's not what everyone is looking for. 

We are after a 4 bed detached with study! 🙋😂

firsttimesellerldn

We’ve been looking since January after our previous purchase fell through after we lost buyer number one. Hardly anything is coming onto the market where we’re looking to buy apart from flats. We’re definitely looking for a house so at the moment are just continuing to keep our fingers crossed. We’re going to move into short term rented if our sale completes first. Not ideal but at least we’ll be able to get to viewings more easily at the moment it’s a pushing two hour journey.. 

JGB1955

Where I live, in Gloucestershire, homes sell within a couple of days.  We live in an easily defined village/garden suburb (the Severn makes sure of that)! There are currently 11 under offer and 2 still available - both new builds being sold within 2 years of first purchase.  44 sold in the last two years, 14 were the 'dregs' of the new Bellway development, thankfully now completed.

cheeky-peach

Octothorpe said:

cheeky-peach said:

Gosh we wish our house will sell quickly so we can proceed with a house we love! Though ours has been on thr market a week with 10 views but clearly no one thinks its 'the one' yet... hopefully soon though. We aren't in a rush to move as such but we'd rather sooner ofc as we are relocating back to my home town area so it'd be good to get it done. 

We honestly thought (clearly wrongly) that we'd get a few offers in a first week as we have a 4 bed detached with a study but I guess that's not what everyone is looking for. 

We are after a 4 bed detached with study! 🙋😂

Which area?? 😂