No suitable homes for sale?

amandaleeds

I'm chain free and have a good 40% despite, maybe up to 50%, but everything that ticks the basic boxes sold before I started looking. I'm anticipating that my deposit is increasing faster than House prices and it's just a matter of waiting for the market to pick up again. Still seems to be a lot of properties sitting around that noone wants due to size/location/lack of parking/extent of rennovation needed or just overpriced by about 50k

edgex

Don't know if it's happening where your looking, but in Birmingham/WestMids, pretty much every property that's been on Rightmove for a month has had a reduction of £5k or £10k.
There's so many EAs about, I suspect pretty much all of them are 'overvaluing' properties just to get the contract.

amandaleeds

edgex said:

Don't know if it's happening where your looking, but in Birmingham/WestMids, pretty much every property that's been on Rightmove for a month has had a reduction of £5k or £10k.
There's so many EAs about, I suspect pretty much all of them are 'overvaluing' properties just to get the contract.

Yes that's been the same everywhere I look. On the rare occaion there is anything fairly priced, in perfect condition, desirable location, ticks lots of standard boxes,  it gets snapped up in a couple of days.

strawb_shortcake

Where I live planning permission has gone in for over 500 houses, someone pointed out if housing was that desperately needed why are there 25 homes sat unsold for 6 months. 

But the market by us is odd, some houses seeing significant drops then others going on much higher than expected 

ReadingTim

I haven't read all 6 pages of this, but if the OP has been looking since March and we're now in September then there's clearly a mismatch between what they want to buy and what they can afford to pay.  

If they actually want to move, then they're going to have to be more flexible on one or more of the following:

• price
• location 
• features/specification  

Otherwise, they're simply hunting unicorns.  

MobileSaver

ReadingTim said:

the OP has been looking since March and we're now in September then there's clearly a mismatch between what they want to buy and what they can afford to pay. 

I agree and the OP actually said they've been looking since Jan last year! 

Official figures confirm that every single month tens of thousands of other people are successfully buying their new home; the OP may want to take a step back and ask themselves why they are still living in unsuitable temporary accommodation while literally hundreds of thousands of others are getting on with their lives and turning their house into a home...

YoungBlueEyes

amandaleeds said:

edgex said:

Don't know if it's happening where your looking, but in Birmingham/WestMids, pretty much every property that's been on Rightmove for a month has had a reduction of £5k or £10k.
There's so many EAs about, I suspect pretty much all of them are 'overvaluing' properties just to get the contract.

Yes that's been the same everywhere I look. On the rare occaion there is anything fairly priced, in perfect condition, desirable location, ticks lots of standard boxes,  it gets snapped up in a couple of days.

My bolding. Things that are great for the money and fairly priced will always shift quickly no matter where you are.

The unpalatable truth is if you seriously want to move you need to remember the old mantra. Price, house, location - pick any two. Your house is out there, you'll find it if you change your mindset  

newsgroupmonkey_

The other thing for me is price.
A friend of mine is trying to get rid of his house. At £1.5 million, it's around 15% under the comparables in the same street and adjoining streets as he wanted to sell relatively quickly.

It's absolutely gorgeous, in perfect order, off-street parking (in an area that has ridiculously priced on-street parking) and a large garden. In my opinion, nicer and in better condition than those that sold for nearly £2m in the last couple of years.

He's had half a dozen people come round, that's it. It's a small market for where he lives.

Knock 15% off the market value of a £250k house and it'll sell in minutes.

Herzlos

You'd need a combined income of over £300k to get a mortgage on a £1.5m house, which rules out virtually everyone.

I've seen a few claims that everything under £250k is selling fast and everything over is sitting around, and that seems true here where £250k gets you a nice 4 bed detatched

Elliott.T123

Herzlos said:

You'd need a combined income of over £300k to get a mortgage on a £1.5m house, which rules out virtually everyone.

I've seen a few claims that everything under £250k is selling fast and everything over is sitting around, and that seems true here where £250k gets you a nice 4 bed detatched

If only that were the case the rest of the country! Round me change that £250k to £750k, that would get you a upper mid sized 4 bed with 2-3 of the rooms being doubles and the smaller one still being more bedroom than office sized! £600k gets you a 4 bed with 1-2 doubles and 1-2 box rooms!