Buyers - are new to market properties in your required location dwindling?

thriftytracey

I am looking in the Minehead area.  In the last two weeks properties new to market have dwindled to average two or three a week and not suitable for our requirements.

Is this the effect of the main stamp duty holiday drawing to a close?  (The June end date).

Does anyone think it will improve in July?  I think if it doesn't the property market will become moribund with sellers unable to find anywhere resulting in their buyers withdrawing.  We have lost our buyer after six weeks.  Hoping to have a new buyer next week but at the way things are heading may well find ourselves in the same situation six weeks down the line.  If that is the case I think we will postpone moving for 12 months and reassess then.

fishfingerbutties

Things are slowing down a bit in a lot of places this is true. I'm in the position below, so I have an offer but my seller hasn't foudn anywhere and not a lot is coming on where they are looking. I am being patient as I can but I also have my own buyers to think about and actively looking at other options, not that there are many. It's like being stuck in a constant dead loop.

Thrugelmir

thriftytracey said:

Is this the effect of the main stamp duty holiday drawing to a close?  (The June end date).

Easy to forget that the economy is far from functioning fully.  The pent up activity caused by lockdowns has blown over. Traditionally the market slows in the summer time as holiday activity takes precedence. 

Crashy_Time

Thrugelmir said:

thriftytracey said:

Is this the effect of the main stamp duty holiday drawing to a close?  (The June end date).

Easy to forget that the economy is far from functioning fully.  The pent up activity caused by lockdowns has blown over. Traditionally the market slows in the summer time as holiday activity takes precedence. 

People who need to move though will be actively looking whatever the time of year.

to_be_FTB

Yes!! There have been very few new properties advertised in my area in the recent weeks...

Keswick1uk

Not many here. Don't really know why I'm still looking as we've decided to stay; curiosity I would say. But there's been about 4 this week and the well.priced have flown of the shelf. However,  the overpriced are still sticking and not moving, so buyers might want to buy but they clearly aren't desperate.

Justonemorecupoftea

Yep. Our buyer pulled out and we're back on the market. Our seller has gone back on the market as well, which is completely understandable but quite scary as there are no other properties that meet our requirements and the in the last week only 2 came on that were in our price/bedroom bracket (which both failed on our location requirements, let alone garden/parking etc.)

So if they resell not quite sure what we're going to do...

arrows123

Yes same here in the Midlands. Seemed to go crazy from April to June now it's dropped off. I'm currently in a rental property but all good to go to buy but was quite happy to wait to find the right place, everything was looking good until my landlady threw a spanner in the works and gave me notice to move out as she wants to sell the place I'm in. 

After missing out on three houses which went for way over the asking price, currently deciding whether to sack it all off and find another rental for a year just for stability and hope prices stick or even come down or to pay in this overpriced market so long as I'm happy with the house and move to save the stress and extra cash of another rental and effectively two moves. 

Side note: rental property I'm in is a flat right in town and has had lots of viewings but still hasn't sold in 7 weeks. 

thriftytracey

arrows123 said:

Yes same here in the Midlands. Seemed to go crazy from April to June now it's dropped off. I'm currently in a rental property but all good to go to buy but was quite happy to wait to find the right place, everything was looking good until my landlady threw a spanner in the works and gave me notice to move out as she wants to sell the place I'm in. 

After missing out on three houses which went for way over the asking price, currently deciding whether to sack it all off and find another rental for a year just for stability and hope prices stick or even come down or to pay in this overpriced market so long as I'm happy with the house and move to save the stress and extra cash of another rental and effectively two moves. 

Side note: rental property I'm in is a flat right in town and has had lots of viewings but still hasn't sold in 7 weeks. 

Yes, I think if we don't find anywhere in the next couple of months we will postpone moving until next year.

paulj2021

Properties are still coming up in my search area but there seems to be lots of terrace properties and less of the family style 3 or 4 bed semis. I’m just speculating but I think that might be because families don’t want to be completing in 3/4 months at the same time that their children are going back to school?

arrows123

paulj2021 said:

Properties are still coming up in my search area but there seems to be lots of terrace properties and less of the family style 3 or 4 bed semis. I’m just speculating but I think that might be because families don’t want to be completing in 3/4 months at the same time that their children are going back to school?

Hope you're right Paul as it's ideally a 3 bed I'm looking for! :-)