Hopeless buyer. What and where is less popular?

w12ee3e

So I'm effectively homeless, currently. The place I was going to buy fell through and my landlord has given me notice as they're selling. I'm struggling to come to terms of my situation, I have a 360k mortgage, over 50k in saved deposit (this surely puts me in the 1-10% of buyers?) and there is little to nothing in the South Gloucestershire area (and yes I've increased my search upwards of 20 miles) every agent is telling me that property is so hot and demand is so intense. Where have these extra 100 million extra buyers appeared from?

Anywhere somewhat viable is just gone. Baaam. All I'm talking about is 2 bedrooms that's within a reasonable distance to some amenities and where I'm not going to be completely socially isolated a million miles from nowhere. Freehold (already been stung by a leasehold) if I see something that's gone up 50-60k over what it sold in 2019 that's also a red flag.

Despite the above I can't help but think I'd be lucky if I could even find a house share, but I'm struggling to come to terms with that as someone who's in a very fortunate position.

So rather than a rant, question I have is what is less popular, and where? How do I beat the crowds at least until the situation hopefully improves some day.

RAS

Even if your landlord has given you a completely valid S21 notice, all that does is allow them to apply to the court at the end of the two months. It'll take 6-12 months for them to get to the point that you have to move out.

Check this to see if the S21 is valid 180408-Section-21-checker-tool.pdf (markprichard.co.uk)

And if there is anything not right, keep stumm until you get the court aper.

GentleGiant01

I would say don’t give up just yet. Search through rightmove “oldest listed” first. You may find something that needs some work much under your budget. If it’s been on the market a while that may be because there is an issue, or nobody wants to do the work. 

Do you have to stay in the area, or can you move north to something cheeper? 

I’ve heard of buyers writing letters to venders when it comes to best and final etc. unfortunately it’s one of those situation that there are MANY more buyers than sellers. 

https://www.rightmove.co.uk/properties/83289552#/?channel=RES_BUY 

Leasehold isn’t always bad - just find one with a long lease  

GentleGiant01

I know that is way out of your budget, but there are similar which have been on the market for a while  

Snow_Angel

You asked "what is less popular, and where?". Is South Gloucestershire a particularly expensive part of the country? Because 360k would buy you a very nice house in very popular parts in some areas of the UK. Are you able to relocate anywhere because, if you are, you have many, many options.

JGB1955

How about Caldicot or Chepstow areas?

GentleGiant01

https://www.rightmove.co.uk/properties/117164582#/?channel=RES_NEW

GDB2222

What sort of notice has your LL given you, and how did you respond?

As far as finding less popular areas is concerned, how far away are you prepared to look? WFH has had a big effect on house prices in more rural areas, as people thought that they could earn big city salaries whilst living the countryside dream. That’s beginning to  change again, as employees are returning to the office, at least several days a week. 

TheJP

Could you buy LL house?

w12ee3e

Snow_Angel said:

You asked "what is less popular, and where?". Is South Gloucestershire a particularly expensive part of the country? Because 360k would buy you a very nice house in very popular parts in some areas of the UK. Are you able to relocate anywhere because, if you are, you have many, many options.

You would think, but I'm apparently too slow off the mark even in that price range.

GentleGiant01 said:

https://www.rightmove.co.uk/properties/117164582#/?channel=RES_NEW

I'm one person

TheJP said:

Could you buy LL house?

No unfortunately not

GDB2222 said:

What sort of notice has your LL given you, and how did you respond?

As far as finding less popular areas is concerned, how far away are you prepared to look? WFH has had a big effect on house prices in more rural areas, as people thought that they could earn big city salaries whilst living the countryside dream. That’s beginning to  change again, as employees are returning to the office, at least several days a week. 

They are selling. Yes I'm lucky enough to WFH but I'm honestly intimidated by the prospect of moving to an area where I know literally know no one and there isn't even a place I can socialize and meet new people (in my demographic) as much as I love the countryside I would end up being cut off and isolated.

w12ee3e

GentleGiant01 said:

https://www.rightmove.co.uk/properties/117164582#/?channel=RES_NEW

That's in my radius, nothing there.