Is anyone moving now?
Discussion
Pistonsquirter said:
Completed my ftb purchase in Dorset (probate) just after xmas, update; seems to be worth more now than then, win.
Well, it's a win in terms of it costing you less than than it would now. But if everything is going up it just makes the step to your next house bigger.
Blown2CV said:
Gazzab said:
I want to move but the market is a mare. I sold and completed etc in nov and am downsizing due to divorce. The area I live is rural pretty Peak District / West Yorkshire villages. Prices have gone up by 50% in last 6 months. Houses that they couldn’t sell a year ago are now snapped up. Each house has 100 enquiries. Each house then goes to sealed bids. So it’s pretty much an impossible market. There are very few houses on the market. Interestingly the larger houses are seemingly not going up in price.
At least I am able to save more money but it’s not looking like I’ll be moving soon.
best off staying put, IMHO. Lodger? At least I am able to save more money but it’s not looking like I’ll be moving soon.
The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
Gazzab said:
I want to move but the market is a mare. I sold and completed etc in nov and am downsizing due to divorce. The area I live is rural pretty Peak District / West Yorkshire villages. Prices have gone up by 50% in last 6 months. Houses that they couldn’t sell a year ago are now snapped up. Each house has 100 enquiries. Each house then goes to sealed bids. So it’s pretty much an impossible market. There are very few houses on the market. Interestingly the larger houses are seemingly not going up in price.
At least I am able to save more money but it’s not looking like I’ll be moving soon.
Are you looking around Saddleworth by any chance?At least I am able to save more money but it’s not looking like I’ll be moving soon.
Gazzab said:
I am living at my girlfriends house but it’s very small.
The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
How many cash buyers?The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
Where did they live before?
The volumes must be pretty low.
I’ve yet to see cash buyers only in a hotter area of North Yorkshire.
What I’m seeing now is mortgage buyers placing crazy bids, pushing cash buyers offers up, then failing to secure lending.
It’s faltering at the seams.
Batten down the hatches.
Greed begets greed. I think a lot of people packing out all the rentals while they ‘chain free’ move to maximise values and buying power etc, are going to get caught short!
I put cash in inverted commas (as I include mortgages). The area I am in is around Holmfirth. If you have a house to sell you can’t even get to look at a house for sale. I had to go on a waiting list to simply view one house (and I called within an hour of it being listed).
The prices are mad. Someone locally bought a house for £190k a year ago. They have put horrid grey plastic windows in and fitted a cheap kitchen. Garden is over gown. It’s not a great location. Sold on same day for over £400k.
The £1m plus houses aren’t selling quickly and so the price gap between large houses and nice medium sized houses is shrinking.
Feels like it can’t last. Lots of London boys who may not have done the maths re costs of commuting to London (train £10k, parking £3k, hotels £20k)
The prices are mad. Someone locally bought a house for £190k a year ago. They have put horrid grey plastic windows in and fitted a cheap kitchen. Garden is over gown. It’s not a great location. Sold on same day for over £400k.
The £1m plus houses aren’t selling quickly and so the price gap between large houses and nice medium sized houses is shrinking.
Feels like it can’t last. Lots of London boys who may not have done the maths re costs of commuting to London (train £10k, parking £3k, hotels £20k)
Gazzab said:
Blown2CV said:
Gazzab said:
I want to move but the market is a mare. I sold and completed etc in nov and am downsizing due to divorce. The area I live is rural pretty Peak District / West Yorkshire villages. Prices have gone up by 50% in last 6 months. Houses that they couldn’t sell a year ago are now snapped up. Each house has 100 enquiries. Each house then goes to sealed bids. So it’s pretty much an impossible market. There are very few houses on the market. Interestingly the larger houses are seemingly not going up in price.
At least I am able to save more money but it’s not looking like I’ll be moving soon.
best off staying put, IMHO. Lodger? At least I am able to save more money but it’s not looking like I’ll be moving soon.
The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
Blown2CV said:
Gazzab said:
Blown2CV said:
Gazzab said:
I want to move but the market is a mare. I sold and completed etc in nov and am downsizing due to divorce. The area I live is rural pretty Peak District / West Yorkshire villages. Prices have gone up by 50% in last 6 months. Houses that they couldn’t sell a year ago are now snapped up. Each house has 100 enquiries. Each house then goes to sealed bids. So it’s pretty much an impossible market. There are very few houses on the market. Interestingly the larger houses are seemingly not going up in price.
At least I am able to save more money but it’s not looking like I’ll be moving soon.
best off staying put, IMHO. Lodger? At least I am able to save more money but it’s not looking like I’ll be moving soon.
The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
Gazzab said:
Blown2CV said:
Gazzab said:
Blown2CV said:
Gazzab said:
I want to move but the market is a mare. I sold and completed etc in nov and am downsizing due to divorce. The area I live is rural pretty Peak District / West Yorkshire villages. Prices have gone up by 50% in last 6 months. Houses that they couldn’t sell a year ago are now snapped up. Each house has 100 enquiries. Each house then goes to sealed bids. So it’s pretty much an impossible market. There are very few houses on the market. Interestingly the larger houses are seemingly not going up in price.
At least I am able to save more money but it’s not looking like I’ll be moving soon.
best off staying put, IMHO. Lodger? At least I am able to save more money but it’s not looking like I’ll be moving soon.
The market in this area is seemingly super hot due to people moving up north, out of cities etc. Currently you can only buy if you are a ‘cash’ buyer. I suspect this market will continue to grow, even as we see furlough end, a potential recession, potential higher interest rates, people having to return to the office etc
t.Sheepshanks said:
Pistonsquirter said:
Completed my ftb purchase in Dorset (probate) just after xmas, update; seems to be worth more now than then, win.
Well, it's a win in terms of it costing you less than than it would now. But if everything is going up it just makes the step to your next house bigger.
Note to self update the renovation thread with more photos..
Sheepshanks said:
Mr Whippy said:
I think a lot of people packing out all the rentals while they ‘chain free’ move to maximise values and buying power etc, are going to get caught short!
Markets that are ‘short’ force prices up.I imagine a lot ended up in rented under pressure to help chains trying to meet the stamp duty holiday.
Frik said:
Sheepshanks said:
Mr Whippy said:
I think a lot of people packing out all the rentals while they ‘chain free’ move to maximise values and buying power etc, are going to get caught short!
Markets that are ‘short’ force prices up.I imagine a lot ended up in rented under pressure to help chains trying to meet the stamp duty holiday.
Getting into renting to ‘save’ stamp duty.
My removals for a family will cost about £3,000.
Rent is money down the drain vs repayment on a mortgage of similar total cost.
Rising housing market and rental market and it’s highly likely you’ll be out of pocket.
All to ‘save’ stamp duty for the buyer, who is likely giving you a chunk in a higher price, which you’re just spending on extra rent/fees any way
Maybe it’s worked out for plenty. But I’m sure for many others it hasn’t.
Gazzab said:
C70R said:
Gazzab said:
I put cash in inverted commas (as I include mortgages).
If someone is buying with a mortgage, they are neither a cash buyer nor a 'cash' buyer. They are buying with a mortgage.It's the equivalent of saying that the buyer has 'sold' their house, when they've only listed it for sale.
talksthetorque said:
We’ve been back on a week after a rest to let things stop going silly after our sale fell through. Six viewings, one ‘proper’ cash offer accepted, buyer living in holiday home in Cornwall and wants it done in next month.
Best look on Rightmove……Christ! There’s absolutely bugger all on. Going to have to look out of our original search area. We have a one bed flat that we can move in to but it’s less than ideal (second floor, no lift, two dogs that can’t do stairs)
Anyone knows of anything west Bridgford, or south of the Trent and north of leicester for under 400 let me know! Might also have to look at nice bits of derbyshire
Well that didn't take long. Best look on Rightmove……Christ! There’s absolutely bugger all on. Going to have to look out of our original search area. We have a one bed flat that we can move in to but it’s less than ideal (second floor, no lift, two dogs that can’t do stairs)
Anyone knows of anything west Bridgford, or south of the Trent and north of leicester for under 400 let me know! Might also have to look at nice bits of derbyshire
Edited by talksthetorque on Saturday 7th August 21:37
Buyer now doesn't want it done next month, or indeed at all.
The outside space isn't suitable for him apparently.
Why are people such a
holes?Both buyers who have pulled out are in their 70s. so it seems that even the older middle classes can't even be taken at their word now.
i
Month into our purchase and on top of chasing employment documents we've found another issue.
After chasing for the sellers information pack and initial contract draft they've found an issue which means they haven't issued it - apparently the house had an error made on land registry documentation when the beneficial owner was changed a few years back - apparently their solicitor is trying to resolve this before issuing the draft contracts.....we need to complete before the end of the stamp benefit.....
After chasing for the sellers information pack and initial contract draft they've found an issue which means they haven't issued it - apparently the house had an error made on land registry documentation when the beneficial owner was changed a few years back - apparently their solicitor is trying to resolve this before issuing the draft contracts.....we need to complete before the end of the stamp benefit.....
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