Had enough!

getmore4less

Covid killed transactions early last year dropping to very low levels April 2020.

Later last year that pent up demand got released and those sales show up in the transactions since Sept 2020 which went to double the norm in March. 

April most of the catch up was complete then May saw a reduction in transactions towards  more normal  levels(still a bit over the norm). 

Be interesting what June does(data due to be released later in July)

arrows123

The other bit of advice I was give by a friend was just don’t view anything until it’s been on the market at least a week. If it’s reached a week without going sstc then normally the ‘sting’ has been taken out of it. Hard I know especially if something comes up you like. 

Northern_Line

Are you in a chain? If so that matters.

We’ve bid over on several places by a fair margin and have had no success. A big part of that seems to be our chain.

 Our friends who are FTBs offered on one property and got accepted. They also offered over asking, but weren’t by any means the highest. Seller favoured them however as they had no chain.

I share your frustration but all you can do is sit tight. I’m convinced as the lent up demand exits the market thing will become a bit more normal again.

RoseGold2021

UPDATE:

Submitted an offer on another property, this time above asking price, as I've discovered I have more wriggle room, mortgage advisor told me. I was up against someone who also has a big deposit, BUT is in rented accommodation, nothing to sell 🙄. Guess what? I didn’t get the house because the other people have nothing to sell, and the vendors aren’t after more money! 

I literally cannot win! Either - my offer isn’t enough, or is too much! 

Upzeecreek

As we know. the housing market is cyclical. We are in a seller's market at the moment but just around the corner will be a buyer's market. Sit tight and it will happen I assure you. 

macfan21

We are just about to put our house on the market (signed the contract with the EA on Friday). However, we have already offered on a couple of rental houses as rentals have an ‘available in 2 months’ kind of thing. We are even struggling to get an offer accepted on a rental, even before referencing etc. We phoned up about one house within 30 mins of it being posted to Rightmove on Saturday and it already had 7 people interested. It’s crazy. 

Making me reconsider selling our house in all honesty. 

jazzyja

Honestly I was the same!! In total I bidded on 4 houses. The first one (my fave still devastated now to be honest) the EA rang to say someone else has bid and seller has taken it off....Im a ftb so I was confused....I said well.....can I not bid again?? Nope its off the market....but why?! They wouldn't say. But it was almost child like behaviour from the EA like they got a kick out of it. I felt like telling them to F off over the phone. 
The second one had offers in before I viewed...I attempted to offer but never matched the other offers and couldn't afford anything more (plus it was 100% not worth it anyway!!) 
The third one I came out of the house and a couple walked in past me....by the time I had arrived back home the said couple had put an offer in above asking (again 100% not worth it, I wasn't even going to offer asking). The 4th I viewed before them all but kept going back to it, after a second viewing I liked it...(only put off was the size of the garden, I wanted bigger but I love the house). I put an offer in, they accepted and agreed to take it off....only because Im not in a chain though....if I was in a chain they would of kept it on as they had 4 viewings booked that week I put the offer in. It is so hard and I feel your pain! I was hoping after stamp duty madness goes itl get better x

pieroabcd

Suddenly I understand why so many people seem to be willing to search a house in the middle of nowhere where nobody wants to go: to avoid competition!

RoseGold2021

pieroabcd said:

Suddenly I understand why so many people seem to be willing to search a house in the middle of nowhere where nobody wants to go: to avoid competition!

I’m considering moving to the Moon..tad cold, but at least nobody else fighting for it! 

RoseGold2021

jazzyja said:

Honestly I was the same!! In total I bidded on 4 houses. The first one (my fave still devastated now to be honest) the EA rang to say someone else has bid and seller has taken it off....Im a ftb so I was confused....I said well.....can I not bid again?? Nope its off the market....but why?! They wouldn't say. But it was almost child like behaviour from the EA like they got a kick out of it. I felt like telling them to F off over the phone. 
The second one had offers in before I viewed...I attempted to offer but never matched the other offers and couldn't afford anything more (plus it was 100% not worth it anyway!!) 
The third one I came out of the house and a couple walked in past me....by the time I had arrived back home the said couple had put an offer in above asking (again 100% not worth it, I wasn't even going to offer asking). The 4th I viewed before them all but kept going back to it, after a second viewing I liked it...(only put off was the size of the garden, I wanted bigger but I love the house). I put an offer in, they accepted and agreed to take it off....only because Im not in a chain though....if I was in a chain they would of kept it on as they had 4 viewings booked that week I put the offer in. It is so hard and I feel your pain! I was hoping after stamp duty madness goes itl get better x

Unfortunately, I’ve got an ‘albatross’ around my neck to try & get rid of, which I think is part reason why I’m not getting anywhere. (I’ve sold to investors so I don’t class that as a chain but some do *shoulder shrug*.) Feel like I’ll never get anything because of this vicious cycle that seems never ending. To think I’ve been searching since last summer, & I’m still…searching, bonkers! 

Will keep plodding on, I guess.