Christmas slow down?

superkick40

Hi all

FTBs here actively looking but things seem a bit slow looking at the number of new properties being listed daily. Are we hitting a time of year where people will start to think more about Christmas and not wanting the stress of selling over the festive period so decide to wait until the new year?

Flugelhorn

We are not FTB but definitely have noticed a big slow down in the properties coming on the market 

El_Torro

I was looking to buy at this time last year (I didn't buy anything in the end, stayed where I am) and there was definitely an increase of properties coming onto the market from January. From what estate agents told me a lot of people do wait until after Christmas to start worrying about moving. 

Having said that there were some properties on the market, with relatively few buyers looking. Now might be a good time to make a cheeky offer that is accepted, assuming you find a place you like. 

HouseMartin567

I think the other part of it is that people are waiting to see how the Budget plays out on 26th November. That and the normal Christmas lull is a double whammy.

strawb_shortcake

Where we live (South West) I think the market has been really quite slow. We've had our house on the market for around 10 weeks.

During this time we've had lots of viewings but no offers, we've only had 1 first time buyer who said the location wasn't for them, but most viewers have all been waiting for a buyer themselves or planning on putting their house on the market. 

Our agent has suggested that one viewer is very interested but believes their top budget is around 5% under the guide price for ours, which I guess isn't too bad, however we have 3 requirements for moving, a garage, downstairs toilet and needs to be on or very close to a bus route for 6th form. Unfortunately this appears to be rare as hens teeth so even if we accept a 5% reduction there is very little that meets our needs. We know there are houses that meet our needs and budget, but they just aren't coming on the market. 

Fortunately we have options and we have the luxury of staying put if we don't get an offer and find somewhere suitable within the next couple of weeks. I'm also curious if this could work in our favour as 2 years time we'll have a local train station open so may make our home more desirable and saleable??

The upcoming budget had crossed our minds as being one reason for it being slow.

I also read that some agents are saying the Christmas slow down has come early this year.

MikeJXE

This is the slowest part of the year imo, not much chance of exchange before the new year

February is when the year takes off with more properties on the market plus more buyers 

theartfullodger

Who cares if sale goes through in a "slow" period or "busy" period?

It's the sale/purchase happening that matters, not what unknown people are doing at that time, or not.

Tabieth

I viewed my house mid November last year. I’d completed at the end of January. It may be slow but it’s not dead. And things moved so swiftly for me, presumably because it was a bit quieter. 

jonnydeppiwish!

Some good house price decreases occurring on the South Coast at the moment - lots of proper reductions going on.

Albermarle

jonnydeppiwish! said:

Some good house price increases occurring on the South Coast at the moment - lots of proper reductions going on.

A typo maybe ?

jonnydeppiwish!

Albermarle said:

jonnydeppiwish! said:

Some good house price increases occurring on the South Coast at the moment - lots of proper reductions going on.

A typo maybe ?

Apologies - corrected!