Debate House Prices


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House Market Quiet

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  • bmthmark
    bmthmark Posts: 297 Forumite
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    phoebe1989seb wrote: »
    Friends of ours went SSTC within a week in Bournemouth and when their buyer pulled out - couldn't get a mortgage after all - they found another buyer within days who offered more than the first one. Exchange is hopefully imminent :D

    Where we are currently - West Midlands - it's a very different story. In our lane and the surrounding area there are a few properties on the market in very different price bands (ranging from £250k to £1.5m) and very little is shifting atm. Neighbours (£850k) told us this week they've had one viewing since their house went on the market in August and they expect it to take three years to sell! Another neighbour (£350k) who had been trying to sell since June with one reduction, but still seriously overpriced imho, withdrew it from the market on Tuesday.

    Phirefly - we've previously accepted offers in early October (when selling in Hants and Wilts) and were happy to complete in late Nov/mid Dec. Whilst we no longer have kids at home, in all those cases our buyers did and the last ones in particular (three kids aged between eight and fourteen) were determined to be in by Christmas even if it meant moving on Christmas Eve :eek:

    Where I live most semi detached houses are selling for £245k very easily/quickly. A semi detached came on the market about a month a go at £315k. I remember saying to my wife they will never get that as they are just being greedy. A couple of weeks later it has now sold :rotfl:

    I put my house on the market and had a viewing before it hit rightmove and sold first viewing for asking price.

    I expect the lack of movement in other area's of the country will soon affect the south.
  • ThePants999
    ThePants999 Posts: 1,748 Forumite
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    Phirefly wrote: »
    This time of year people are starting to get nervous about the timing of Christmas, I think.
    I don't know why, it hasn't changed in years!

    /coat
  • phoebe1989seb
    phoebe1989seb Posts: 4,452 Forumite
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    sheff6107 wrote: »
    Never understood the buying in autumn to get in by Christmas idea. You need 3 months minimum, so really you'd need to have an offer accepted by 1st September to have a decent of getting in in time and taking inevitable delays into account.

    Guess we've been lucky then ;):p

    2007 - accepted offer first week in October. Completed on sale and onward purchase 30th November 2007.

    2012 (parents' house) - accepted offer mid October. Completed mid December 2012.

    2014 - accepted offer 10th October. Completed on sale and onward purchase 16th December 2014.
    Mortgage-free for fourteen years!

    Over £40,000 mis-sold PPI reclaimed
  • ThePants999
    ThePants999 Posts: 1,748 Forumite
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    phoebe1989seb wrote: »
    Guess we've been lucky then ;):p

    2007 - accepted offer first week in October. Completed on sale and onward purchase 30th November 2007.

    2012 (parents' house) - accepted offer mid October. Completed mid December 2012.

    2014 - accepted offer 10th October. Completed on sale and onward purchase 16th December 2014.
    Not saying I disagree, but given your signature, you presumably weren't applying for a mortgage for any of these properties, which certainly helps with a speedy process!
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
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    You really don't need 3 months minimum to buy/sell a house!
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    http://uk.reuters.com/article/uk-markets-britain-idUKKCN12714Y
  • ANGLICANPAT
    ANGLICANPAT Posts: 1,444 Forumite
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    Property market varies even within London .Some flats we noticed around the £550-£600k mark are being dropped up to £50k in N. London in the last month, whilst around the SE of London the same ilk of property is holding its price much better.
  • Phirefly
    Phirefly Posts: 1,605 Forumite
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    glasgowdan wrote: »
    You really don't need 3 months minimum to buy/sell a house!

    Yeah that's what I thought after 30 days from offer to completion on our first property. We just exchanged on our next house yesterday, over 4 months since our offer was accepted...
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
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    Ok, but saying "you need" implies every sale needs... Obviously not.
  • stueyhants
    stueyhants Posts: 588 Forumite
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    bmthmark wrote: »
    Its not down sunny south. In Bournemouth houses are selling very quickly and also for ridiculous prices.
    I'm only a few miles east in the New Forest in a desirable village and it's gone really quiet in the last few weeks. There was an early September bounce but it's gone now. There are double the numbers of houses for sale compared to earlier in the year. It might be a blip but it feels the market is changing direction.
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