is gazumping/higher offers back everywhere in UK?

Gavin83

I read an article that said in the last month the biggest increases in house sales have been inner city flats and they believed people were moving back into the cities. I've also heard of a number of companies and seen several job adverts stating office based working will be back to normal once the Government allows so I suspect home working won't be as common as some suspected. I've even seen several people on LinkedIn and similar saying their employer wants them back into the office, they've moved away and how can they stay remote.

I think a lot of people who have moved out of London and other comparable cities will be extremely disappointed in the not too distant future. We shall see.

Thrugelmir

GDB2222 said:

There's this idea that Londoners are awash with money, and the streets are paved with gold.

The price of property in London is totally out of line with much of the rest of the country.  Now is a good time to cash in. 

moneysavinghero

Lot's of rich people in London and with interest rates currently so low a lot may be deciding to invest some of their free money in property instead. East Riding being close to the so called Northern Powerhouse would be as good a place as any.

Mickey666

moneysavinghero said:

Lot's of rich people in London and with interest rates currently so low a lot may be deciding to invest some of their free money in property instead. East Riding being close to the so called Northern Powerhouse would be as good a place as any.

Not sure about lots, but some are certainly rich.  A friend's 26yo daughter has just got a new job as a nanny to a high-flying city finance type and starts work this week (after five years of a similar job, also in London).   I was talking to her last week about it and the three children are early teens so her job is more of a 'PA' for them than a nappy-changing nanny.  Turns out her role is also to coordinate the other 'staff' responsible for the children as there is also a cook (just for the kids), a trainer/sports/activity organiser and a dedicated driver.  Apparently they also have a holiday home in Gstadd and she'll be responsible for organising getting the kids (&staff!) out there for holidays and the like.  The job pays £70k and comes with a 2-bed flat (just for her) in Kensington.  How the other half live eh?  Needless to say, with that sort of income and almost no living expenses she's recently bought herself a house in her home town and rents it out via AirB&B while working in London.  Smart girl!

GarretC

GDB2222 said:

There's this idea that Londoners are awash with money, and the streets are paved with gold. That's a bit of an exaggeration. Not many people can afford £800k for a second home in Herefordshire. 

It will be interesting to see whether WFH continues long term. If it does, why move to Yorkshire? Why not somewhere a bit sunnier and warmer? For someone who has a well-paid job in London, it's quite a brave decision to move home a long way at the moment, with the possibility that the WFH policy gets reversed suddenly. 

I'm shocked with the number of people making long-term decisions based on short-term situations. My workplace, for example, was talking 9 months ago about a "digital first" model with zero real estate. Now I expect it'll be a minimum of 3 days in the office a week. I'm not saying I agree with this, but I think that's the reality for many.
Facebook have already said that they'll reduce the pay of those remote workers living in a lower CoL region.
And for those that work with companies who are going fully remote, if you need to move job, are these people sure they're still going to command London salaries?

JJR45

GarretC said:
Facebook have already said that they'll reduce the pay of those remote workers living in a lower CoL region.And for those that work with companies who are going fully remote, if you need to move job, are these people sure they're still going to command London salaries?

Spot on, any company doing 100% WFH are not doing it for the staff's benefit. 0-low office costs and able to lower salaries moving forward as they open up the jobs market to anyone in the country (or another country). 

newsgroupmonkey_

RelievedSheff said:

newsgroupmonkey_ said:

There's someone on another thread who seems to think that despite not being in a proceedable position, they can get a house valued at £450k for around £375k because "they've never paid the asking price" on their last 2 houses.

So I suppose someone must think that this isn't happening in their area.

No offence, but I don't see many Londoners moving to East Riding. More likely to move to East Anglia or the South Coast.

According to this local estate agent Londeners are buying in Sheffield, so I don't see why they wouldn't also consider East Riding!!

https://www.thestar.co.uk/lifestyle/homes-and-gardens/house-prices-bonkers-in-sheffield-says-agent-3239593

"There are people moving here from London with money. We had a situation where a property in South West Sheffield on the market at more than £500,000 had 19 final offers and eight were from London.

"The house went for more than £100,000 over the asking price.”

This is going to come across as flippant, and maybe it is, but

a) would you trust the Star? (sorry, I know that paper well)

b) would you trust an estate agent whose job is to drive up prices and get interest?

MobileSaver

GarretC said:

I'm shocked with the number of people making long-term decisions based on short-term situations.

I haven't seen any of this data. Can you share a link to where you've seen details on all these people making long-term decisions based on short-term situations?

moneysavinghero

MobileSaver said:

GarretC said:

I'm shocked with the number of people making long-term decisions based on short-term situations.

I haven't seen any of this data. Can you share a link to where you've seen details on all these people making long-term decisions based on short-term situations?

If you read this forum you will see many people saying they are pushing their finances to the limit just to stand a chance of 'winning' the property they want because 'prices are getting crazy right now'.

MobileSaver

JJR45 said:

GarretC said:
Facebook have already said that they'll reduce the pay of those remote workers living in a lower CoL region. ... are these people sure they're still going to command London salaries?

Spot on, any company doing 100% WFH are not doing it for the staff's benefit.

It's been a long time since I worked for a multi-national but back then London Weighting was a thing and I don't think anyone would be genuinely upset if London Weighting was no longer paid if they moved back to say Liverpool.

Any half-decent company will offer Working From Home as a win-win for both the employer and the employee...