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Cherubium

Anyone Else Noticing A Sudden Uptick In London?

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I've been keeping a list of houses I'm interested in on Rightmove. Basically, London from about 900k up to about 2m.

This time last year, I came very close to buying a house that had been on the market for a few months. It was a perfect storm, me a cash buyer, seller was a desperate developer and it was a good 30% below 2007 prices. I was the only bidder.

However, come mid-september, the market picked up. Someone else bid 200k more than me on the house and I dropped out.

For the past year, I've been looking at a fairly dead market. I've viewed a couple of hosues, but not been tempted beyond chancing my arm with a few bids well below asking price. But now, it's mid-September again and despite all the current gloom I've stopped seeing price cuts and started seeing quite a few houses on my list go under-offer.

I've probably seen 4 houses on my list of 40 odd prospects go under offer this year up to mid-August, but 6 more in the month since then.

Is anyone else seeing a similar pickup, or is it just a London house thing? Possibly a distortion caused by the imminence of Christmas bonuses in the city?

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I've been keeping a list of houses I'm interested in on Rightmove. Basically, London from about 900k up to about 2m.

This time last year, I came very close to buying a house that had been on the market for a few months. It was a perfect storm, me a cash buyer, seller was a desperate developer and it was a good 30% below 2007 prices. I was the only bidder.

However, come mid-september, the market picked up. Someone else bid 200k more than me on the house and I dropped out.

For the past year, I've been looking at a fairly dead market. I've viewed a couple of hosues, but not been tempted beyond chancing my arm with a few bids well below asking price. But now, it's mid-September again and despite all the current gloom I've stopped seeing price cuts and started seeing quite a few houses on my list go under-offer.

I've probably seen 4 houses on my list of 40 odd prospects go under offer this year up to mid-August, but 6 more in the month since then.

Is anyone else seeing a similar pickup, or is it just a London house thing? Possibly a distortion caused by the imminence of Christmas bonuses in the city?

Looking at Righmove new listings every day there appear to be as many places coming back to available from under offer as there are going under offer. Few price drops though, lots of stalemate. Bit early for bonuses to be influencing. Give it a couple more months for things to start going under offer from bonus money and then completing Dec - Mar depending on when it is paid.

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Looking at Righmove new listings every day there appear to be as many places coming back to available from under offer as there are going under offer. Few price drops though, lots of stalemate. Bit early for bonuses to be influencing. Give it a couple more months for things to start going under offer from bonus money and then completing Dec - Mar depending on when it is paid.

In my search area (Glasgow southside) the number of available properties has been shooting up recently. A combination of sales which have fallen through, distressed sales (redundancies, and deaths etc) and a few sellers getting wise to what is coming. Time on market is high for unrealistic selling prices with the inevitable chasing the market down later on. People still often start with high prices and think their house is different to all the others on the market. I suspect this may be happening where the OP is too. We are all going to have to be patient a little longer I think.

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In Esses started seeing a bit of a renewed surge in new listings the last week. Nothing much selling. Almost everything has been reduced bar new listings. Stock still increasing through lack of buyers. Same as the last couple of months.

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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