Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted March 5, 2021 Share Posted March 5, 2021 His take was that the key issue driving up prices = lack of supply because so few are comfortable putting properties on the market because of COVID. He noted that estate agency bosses had told him they were busy with valuations but people were waiting for the end of lockdown and some had even mentioned full vaccination (ie end July). Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted March 5, 2021 Author Share Posted March 5, 2021 He did mention he suspect there was huge pent up supply (and less pent up demand now due to stamp duty holiday) - so it could be "interesting" once the market unlocks. Quote Link to comment Share on other sites More sharing options...
sammersmith Posted March 5, 2021 Share Posted March 5, 2021 If you look on Mumsnet there are quite a few threads asking for opinions on the 'best' time to put their houses on the market, with Covid, Brexit, etc. The accepted logic there seems to be to wait until after lockdown, particularly if you're hoping to net a cash-rich London buyer looking to move to the sticks and WFH. If they all come on at once and have no chance of meeting the new stamp duty deadline (and they're priced over the new 250K limit from July) then things will start to get very interesting very quickly. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted March 5, 2021 Share Posted March 5, 2021 From personal experience, several properties we've contacted EAs about recently weren't really on the market. Seems that they are still on Rightmove for the purpose of keeping up appearances of supply. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 5, 2021 Share Posted March 5, 2021 2 minutes ago, sammersmith said: If you look on Mumsnet there are quite a few threads asking for opinions on the 'best' time to put their houses on the market, with Covid, Brexit, etc. The accepted logic there seems to be to wait until after lockdown, particularly if you're hoping to net a cash-rich London buyer looking to move to the sticks and WFH. If they all come on at once and have no chance of meeting the new stamp duty deadline (and they're priced over the new 250K limit from July) then things will start to get very interesting very quickly. Time for more props! Quote Link to comment Share on other sites More sharing options...
nightowl Posted March 5, 2021 Share Posted March 5, 2021 3 minutes ago, rantnrave said: From personal experience, several properties we've contacted EAs about recently weren't really on the market. Seems that they are still on Rightmove for the purpose of keeping up appearances of supply. You do get some oddities of houses for sale but for all sorts of weird reasons the vendor isn't that fussed on selling. We want we to look at a house a while ago but agent didn't have keys for the house as the vendors were on a three month cruise and didn't want anyone snooping around🙄 Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 5, 2021 Share Posted March 5, 2021 18 minutes ago, nightowl said: You do get some oddities of houses for sale but for all sorts of weird reasons the vendor isn't that fussed on selling. We want we to look at a house a while ago but agent didn't have keys for the house as the vendors were on a three month cruise and didn't want anyone snooping around🙄 I trust they had their postal voting forms with them so they could vote for whichever party had the biggest price props should an election come along? Quote Link to comment Share on other sites More sharing options...
Who am I? Posted March 5, 2021 Share Posted March 5, 2021 21 minutes ago, nightowl said: We want we to look at a house a while ago but agent didn't have keys for the house as the vendors were on a three month cruise and didn't want anyone snooping around Wow. So the agent effectively told a random stranger that the house was empty long term and full of stuff that could be easily nicked (they're on holiday, their stuff is still in the house). Very professional. Quote Link to comment Share on other sites More sharing options...
captainb Posted March 5, 2021 Share Posted March 5, 2021 33 minutes ago, sammersmith said: If you look on Mumsnet there are quite a few threads asking for opinions on the 'best' time to put their houses on the market, with Covid, Brexit, etc. The accepted logic there seems to be to wait until after lockdown, particularly if you're hoping to net a cash-rich London buyer looking to move to the sticks and WFH. If they all come on at once and have no chance of meeting the new stamp duty deadline (and they're priced over the new 250K limit from July) then things will start to get very interesting very quickly. Makes sense. Wait until people are asked to come back to the office in London X days a week before pitching them your rural Northumberland home... Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 5, 2021 Share Posted March 5, 2021 1 minute ago, Who am I? said: Wow. So the agent effectively told a random stranger that the house was empty long term and full of stuff that could be easily nicked (they're on holiday, their stuff is still in the house). Very professional. You've got a funny definition of a stranger. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted March 5, 2021 Share Posted March 5, 2021 1 hour ago, gruffydd said: He did mention he suspect there was huge pent up supply (and less pent up demand now due to stamp duty holiday) - so it could be "interesting" once the market unlocks. This does explain the massive leaps near my area. If you want to live in some parts, you have to buy whatever house comes up next, no matter the cost. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 5, 2021 Share Posted March 5, 2021 1 minute ago, PeanutButter said: This does explain the massive leaps near my area. If you want to live in some parts, you have to buy whatever house comes up next, no matter the cost. I've seen the most unique locations being snapped up straight away and everything else being reduced every 3 months Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 5, 2021 Share Posted March 5, 2021 2 hours ago, gruffydd said: His take was that the key issue driving up prices = lack of supply because so few are comfortable putting properties on the market because of COVID. He noted that estate agency bosses had told him they were busy with valuations but people were waiting for the end of lockdown and some had even mentioned full vaccination (ie end July). Look at the propery lion posts for today....volumes have done through the floor except london. Prices not really going up anywhere. Quote Link to comment Share on other sites More sharing options...
shlomo Posted March 5, 2021 Share Posted March 5, 2021 Flat prices in London are going down Quote Link to comment Share on other sites More sharing options...
Locke Posted March 5, 2021 Share Posted March 5, 2021 2 hours ago, sammersmith said: The accepted logic there seems to be to wait until after lockdown, particularly if you're hoping to net a cash-rich London buyer looking to move to the sticks and WFH. Err...once lockdown ends and London opens up, won't the trend reverse, or at least slow down? Quote Link to comment Share on other sites More sharing options...
sammersmith Posted March 5, 2021 Share Posted March 5, 2021 (edited) 25 minutes ago, Locke said: Err...once lockdown ends and London opens up, won't the trend reverse, or at least slow down? I think their logic goes that the London buyer would be reluctant to travel to view their property during lockdown. Property viewings are technically allowed during lockdown, however Mumsetters reckon that Londoners will need to travel up then stay over somewhere to 'get a feel for the place, check out the schools, etc'. The hesitancy to travel distances i can understand, particularly if they're worried about being caught by an overzealous plod. Edited March 5, 2021 by sammersmith Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 5, 2021 Share Posted March 5, 2021 2 hours ago, Who am I? said: Wow. So the agent effectively told a random stranger that the house was empty long term and full of stuff that could be easily nicked (they're on holiday, their stuff is still in the house). Very professional. Brilliant. New bloke doubting old bloke. You'd be surprised, these people ramp house prices to anyone that will listen. There is an anecdote forum for this sort of thing tho. Looking at what the bankers and government are currently thoughing at this prices must be collapsing or at least sales volumes. Quote Link to comment Share on other sites More sharing options...
crescent Posted March 5, 2021 Share Posted March 5, 2021 I know a few people who have said when Covid is done they will sell and others who said they will start looking to buy,. They are people who just do not want to be taking the risk at the moment. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 5, 2021 Share Posted March 5, 2021 Just now, crescent said: I know a few people who have said when Covid is done they will sell and others who said they will start looking to buy,. They are people who just do not want to be taking the risk at the moment. It's probably pretty hard work too when you're possibly struggling to work from home and/or home school your kids are the same time. Quote Link to comment Share on other sites More sharing options...
GenZ Posted March 5, 2021 Share Posted March 5, 2021 I just bought in Manchester zone 1 and got a 26% discount- people are waiting to see the economic fallout of the pandemic, personally I like there going to be a post pandemic raises in house prices. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 5, 2021 Share Posted March 5, 2021 1 minute ago, GenZ said: I just bought in Manchester zone 1 and got a 26% discount- people are waiting to see the economic fallout of the pandemic, personally I like there going to be a post pandemic raises in house prices. 😐😐 Quote Link to comment Share on other sites More sharing options...
GenZ Posted March 5, 2021 Share Posted March 5, 2021 I meant to say I'm predict a raise, not that a want one. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 5, 2021 Share Posted March 5, 2021 3 hours ago, gruffydd said: He did mention he suspect there was huge pent up supply (and less pent up demand now due to stamp duty holiday) - so it could be "interesting" once the market unlocks. Agree on the pent up supply. I think there will be some pent up demand too, even if less....just as people don't want viewers coming round giving them COVID so people won't want to go viewing into 20 random other houses in the middle of a pandemic either. Quote Link to comment Share on other sites More sharing options...
Staffsknot Posted March 5, 2021 Share Posted March 5, 2021 In crazy world a friend has just had their 2 up 2 down terraced ( sorry mews) house valued by an agent - £165k... they paid £80k start of 2015. WTF and they thought so too. It is on a main road, a concrete back yard no greenspace and no off street parking in one of the towns that make Stoke-on-Trent. Their late mum's bungalow with garage was valued at less barely 18 months ago and sold just before lockdown 1. Quote Link to comment Share on other sites More sharing options...
sammersmith Posted March 5, 2021 Share Posted March 5, 2021 1 hour ago, GenZ said: I just bought in Manchester zone 1 and got a 26% discount- people are waiting to see the economic fallout of the pandemic, personally I like there going to be a post pandemic raises in house prices. Ancoats? Incidentally, Manchester has only had 'zones' for about a year and you are the first person i've ever heard refer to them in any context other than for tram ticket pricing. Quote Link to comment Share on other sites More sharing options...
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