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Recent Lack of SSTC

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All of a sudden I'm noticing houses staying available on RM for weeks that would've gone SSTC very quickly. Has the penny dropped? Sentiment changed? BTL brigade no longer buying FTB type houses so second steppers can't upsize?

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I see for sale signs, multiples within a single street, sometimes houses opposite each other; I have no doubt things are changing and sentiment will follow now that it’s for all to see.

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Opposite here, soon as the weather turned nice a big proportion went SSTC. So much so it's aroused my suspicions, I wondered if the estate agents are up to some tricks.  A couple in town, which are smaller than new builds, priced higher and recently on the market went SSTC. Struck me as a bit odd. 

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2 hours ago, The Crow said:

All of a sudden I'm noticing houses staying available on RM for weeks that would've gone SSTC very quickly. Has the penny dropped? Sentiment changed? BTL brigade no longer buying FTB type houses so second steppers can't upsize?

I'm seeing the same, only 2 of the last 7 I viewed are SSTC, and plenty of drops from 375 to 350, a particular favourite was one listed Jan at 375,  dropped 50k week before last and still not sold! Large amount of the new listings are chain free too

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Am seeing a number of chain free in my area. Some are probably the result of death, but how many are BTLs trying to get off the sinking ship?

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I had a hospital appt yesterday... Got chatting to the nurse (mid 50s). Ended up talking about ar#ehole landlords. She said her 30yr old son can't afford to buy, her 32yr old daughter's boyfriend has inherited some money which is allowing them to buy.

I explained the drops in London now rippling outwards (we're south coast, prime SE commuter land).

That message will feedback to her kids I hope...

...drip....

...drip...

...drip...

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My standard alert in Rightmove is 2 bed houses in Beds in the under £250,000 range.  At the height of the BTL madness I used to find they were SSTC before I even managed to get in contact with the estate agents.  Some actually went on with SSTC on them (good PR for the agents).  Not now.  So much dross coming out of the woodwork and just sitting there until 1st or 2nd reduction.  The nice houses that are clearly people's real homes are still going relatively quickly though, so sentiment isn't entirely changing here, it's just the "No Chain" ugly ex-BTL stuff that isn't being bought because presumably the market for that was other BTL types.

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14 hours ago, msi said:

Am seeing a number of chain free in my area. Some are probably the result of death, but how many are BTLs trying to get off the sinking ship?

I’ve seen lots of chain free a couple of which I know were bought by ftb 2-3 years ago. Are they behind on the mortgage or do they think the markets falling and worried about net equity?

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5 minutes ago, houseface2000 said:

I’ve seen lots of chain free a couple of which I know were bought by ftb 2-3 years ago. Are they behind on the mortgage or do they think the markets falling and worried about net equity?

Couples split?

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2 hours ago, stop_the_craziness said:

My standard alert in Rightmove is 2 bed houses in Beds in the under £250,000 range.  At the height of the BTL madness I used to find they were SSTC before I even managed to get in contact with the estate agents.  Some actually went on with SSTC on them (good PR for the agents).  Not now.  So much dross coming out of the woodwork and just sitting there until 1st or 2nd reduction.  The nice houses that are clearly people's real homes are still going relatively quickly though, so sentiment isn't entirely changing here, it's just the "No Chain" ugly ex-BTL stuff that isn't being bought because presumably the market for that was other BTL types.

Ex rentals (and places to rent of course) so often look soulless ... Need to cheap before an owner occupier buys them. These BTL slugs have really shot themselves in the foot.

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Yep poor even in the north. 14/58 sold in my area of the rural Peak District..24%. Probably 40% this time last year.

Tbh its been like watching paint dry here for the last 14 years anyway, prices probably only 10% higher than 2004 in nominal terms. A rural shire  area with no BTL and nobody much bothered about buying property as an investment.

Not had a boom here since 2003 and it seems like we wont this time. Last couple of years zoopla says +5.8% against 7.0% rpi...that's about as close to inflation as prices have got here for almost a generation.

Edited by crashmonitor

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  • 301 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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