Is anyone moving now?
Discussion
spikeyhead said:
Locations would be useful
True 
Mine was Yorkshire Dales. Previous examples in my search area have gone for anything between 10% & 20% over asking. Just put an offer in on another property slightly out of area (but still a nice enough rural location), but we can’t justify valuing that one at anything above asking (others may disagree, we’ll see, but it needs a *lot* of work).skwdenyer said:
We lost out on a house last week; we bid 20% over asking. We were matched for money by a cash buyer, so they were chosen as “more proceedable.”
Quality is selling.
Also area dependant. Quality is selling.
Played golf with an EA y’day who’s based in Dulwich London .
He sold two homes whilst we were playing.
He said one bed flats just don’t sell as people still want space but 2 bed flats are still shifting.
One of the places he sold y’day went for 5% over asking with a 2nd buyer in the wings
GT3Manthey said:
skwdenyer said:
We lost out on a house last week; we bid 20% over asking. We were matched for money by a cash buyer, so they were chosen as “more proceedable.”
Quality is selling.
Also area dependant. Quality is selling.
Played golf with an EA y’day who’s based in Dulwich London .
He sold two homes whilst we were playing.
He said one bed flats just don’t sell as people still want space but 2 bed flats are still shifting.
One of the places he sold y’day went for 5% over asking with a 2nd buyer in the wings
I reflect on MrsC's friend who is selling an 850sqft 2-bed with a decent garden 5min from the Northern line. Her offers (and she's had a few) have been about 4-5% more than she paid in 2017, whereas she needs 10% for her next move to make sense.
Contrast that with our place, where our neighbours have just sold a less desirable (but very similar) property for double what we paid a few years before MrsC's friend bought.
It wouldn't surprise me if there are a few Londoners taking a hit to move in the near future.
C70R said:
It wouldn't surprise me if there are a few Londoners taking a hit to move in the near future.
This sounds dangerously close to speculation 
London is a big place and it's very area dependent. The numbers are starting to look a little better on our proposed move out to Waverley though:
https://landregistry.data.gov.uk/app/ukhpi/compare...
Everything could change of course and these numbers are already a bit old to be useful.
Frik said:
This sounds dangerously close to speculation
London is a big place and it's very area dependent. The numbers are starting to look a little better on our proposed move out to Waverley though:
https://landregistry.data.gov.uk/app/ukhpi/compare...
Everything could change of course and these numbers are already a bit old to be useful.
It's definitely a shame that we can't get more current LR data. London is a big place and it's very area dependent. The numbers are starting to look a little better on our proposed move out to Waverley though:
https://landregistry.data.gov.uk/app/ukhpi/compare...
Everything could change of course and these numbers are already a bit old to be useful.
I think it's been more about property type than location recently with the relative crash in prices of flats compared to houses in some places. It's certainly interesting to see that Richmond has increased by more than Waverley/Guillford//England average over the year to March, even though I'd assume it has a higher proportion of flats than any of those.
Frik said:
Well it only records what's sold, so if flats haven't been selling that'll affect the data. Waverley is a pretty broad area itself, too.
I missed the drop down for property type at the top. Flats in Richmond have gone up by 12.5% compared to 16.1% for all properties in the year to April 2022, so not nearly as much difference as I was expecting.daos said:
daos said:
daos said:
After a fair bit of wrangling today we have agreed a completion date with the chain. We were feeling a bit stuck between our vendor insisting to complete before the weekend of 9th of July and our buyer wanting two weeks between exchange with slow solicitors, but we managed to agree a date and just need to exchange on Friday. The end is in sight!
So we exchanged on the sale of our house but the exchange of our purchase didn't happen. We have already moved out so it's not an issue in terms of breaking the change. We accepted the offer mid April, so very pleased with it going through so quickly. Hopefully we will be exchanging on our purchase Monday or Tuesday, it's very annoying that they didn't exchange as they were pushing us to complete as soon as possible which was pretty stressful. daos said:
Finally exchanged on our purchase today. Getting the keys next week, breathing a big sigh of relief!
Fantastic news.We're on track to exchange next week, once the mortgage details are with our solicitor. Not a moment too soon either, as the vendor appears to be slowly losing his marbles. He, via the agent, has been chasing our mortgage guy daily for updates for the last fortnight. Bear in mind that we're not planning to complete for another 6wks. Luckily our mortgage guy is both patient and smart, so he's spent the whole time politely telling them to bugger off.
MrsC is now starting to freak out about the prospect of no longer being in London full-time. Perfect timing.
beanoir78 said:
daos said:
Finally exchanged on our purchase today. Getting the keys next week, breathing a big sigh of relief!
I envy you, we've been going since April now, still waiting on LR to amend the title plan for a mistake. How long did it take you from offer to exchange?
Land Registry issue with our purchase ID’d early Dec, took until end of May to be rectified (in part as our vendor’s solicitor seem to be painfully slow and only react when prodded).
Our first buyers dropped out in Feb as their buyers were messing them about, so they refused to sell to them (niche cash only property they’re selling, so they went off the market) - we had got contracts drafted at this stage. Went back on the market the following week and thankfully sold again right away. New chain was longer, but our buyer’s buyer allegedly could buy without completing lower down the chain.
Once land reg was sorted it took 2 weeks to get hold of our buyer’s buyer to discuss exchange/completion dates. Discovered they’ve sold with PB and using PPL for conveyancing, so guess we shouldn’t be surprised by lack of contact. We were due to exchange 2.5 weeks ago with a view to complete end of June, but they went awol again so exchange was pushed to the next day. Unfortunately our vendor passed away on the original exchange date, so as contracts were not exchanged we’re now having to wait for probate. We’ve been advised that will be a minimum of 3 months….
Lady_Beefmaster said:
I envy you both - ours has been going on since end of October with one thing after another.
Land Registry issue with our purchase ID’d early Dec, took until end of May to be rectified (in part as our vendor’s solicitor seem to be painfully slow and only react when prodded).
Our first buyers dropped out in Feb as their buyers were messing them about, so they refused to sell to them (niche cash only property they’re selling, so they went off the market) - we had got contracts drafted at this stage. Went back on the market the following week and thankfully sold again right away. New chain was longer, but our buyer’s buyer allegedly could buy without completing lower down the chain.
Once land reg was sorted it took 2 weeks to get hold of our buyer’s buyer to discuss exchange/completion dates. Discovered they’ve sold with PB and using PPL for conveyancing, so guess we shouldn’t be surprised by lack of contact. We were due to exchange 2.5 weeks ago with a view to complete end of June, but they went awol again so exchange was pushed to the next day. Unfortunately our vendor passed away on the original exchange date, so as contracts were not exchanged we’re now having to wait for probate. We’ve been advised that will be a minimum of 3 months….
Christ, I would struggle to cope with that! Land Registry issue with our purchase ID’d early Dec, took until end of May to be rectified (in part as our vendor’s solicitor seem to be painfully slow and only react when prodded).
Our first buyers dropped out in Feb as their buyers were messing them about, so they refused to sell to them (niche cash only property they’re selling, so they went off the market) - we had got contracts drafted at this stage. Went back on the market the following week and thankfully sold again right away. New chain was longer, but our buyer’s buyer allegedly could buy without completing lower down the chain.
Once land reg was sorted it took 2 weeks to get hold of our buyer’s buyer to discuss exchange/completion dates. Discovered they’ve sold with PB and using PPL for conveyancing, so guess we shouldn’t be surprised by lack of contact. We were due to exchange 2.5 weeks ago with a view to complete end of June, but they went awol again so exchange was pushed to the next day. Unfortunately our vendor passed away on the original exchange date, so as contracts were not exchanged we’re now having to wait for probate. We’ve been advised that will be a minimum of 3 months….
Mine feels like a first world problem in comparison.
Fingers crossed for you!
Must admit starting to get a bit worried that my partner and I won't be able to afford a decent house if interest rates hike up a lot in 2023.
2 flats to sell then a house to buy before an unknown date. Around 2.6% sees us comfortable, 3% doable but start going high 3's and 4's and we suddenly start looking at a different class of property which is painful to stomach.
Maybe I should stop reading the news!
2 flats to sell then a house to buy before an unknown date. Around 2.6% sees us comfortable, 3% doable but start going high 3's and 4's and we suddenly start looking at a different class of property which is painful to stomach.
Maybe I should stop reading the news!
Edited by Calza on Sunday 3rd July 16:53
beanoir78 said:
daos said:
Finally exchanged on our purchase today. Getting the keys next week, breathing a big sigh of relief!
I envy you, we've been going since April now, still waiting on LR to amend the title plan for a mistake. How long did it take you from offer to exchange?
Toaster Pilot said:
fesuvious said:
If it had been a decent Solicitor
What’s one of those?Pay peanuts etc...
Things still seem to be moving quite quickly here in the east mids.
We put our 3 bed semi on the market Friday afternoon and had 12 viewings lined up for this weekend within 3 hours.
Fingers crossed we get some good offers next week when the estate agents open back up and we can start gaining some traction on our move.
We put our 3 bed semi on the market Friday afternoon and had 12 viewings lined up for this weekend within 3 hours.
Fingers crossed we get some good offers next week when the estate agents open back up and we can start gaining some traction on our move.
Calza said:
Must admit starting to get a bit worried that my partner and I won't be able to afford a decent house if interest rates hike up a lot in 2023.
2 flats to sell then a house to buy before an unknown date. Around 2.6% sees us comfortable, 3% doable but start going high 3's and 4's and we suddenly start looking at a different class of property which is painful to stomach.
Maybe I should stop reading the news!
Would we expect house prices to drop proportionality in the case do such rate rises? Or are rates a relatively small factor. 2 flats to sell then a house to buy before an unknown date. Around 2.6% sees us comfortable, 3% doable but start going high 3's and 4's and we suddenly start looking at a different class of property which is painful to stomach.
Maybe I should stop reading the news!
Edited by Calza on Sunday 3rd July 16:53
lizardbrain said:
Would we expect house prices to drop proportionality in the case do such rate rises? Or are rates a relatively small factor.
The pessimist in me would say it might just be calm things down a bit rather than reduce prices.It also says that if there is any such positive benefits, they'll lag behind enough that I don't benefit!
skwdenyer said:
Happy to recommend a truly excellent one I've worked with on a number of complex deals over many years. However, he won't be able to compete with the usual "fixed cost conveyancing" shops on price.
Pay peanuts etc...
Twice now I’ve used traditional high street firms who charged accordingly and both times they were utterly useless - the first time actually negligent - despite charging the fPay peanuts etc...
king Earth. Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff