Lots of new houses coming to market.

[So]

I keep an eye on the local property market. In the past month, the number of new homes coming to market has started to account for 50% of properties coming to market.

What is it like where you are?

I am seeing a lot of new build activity everywhere and I presume that this is the point at which it is all coming to market.

[Equus]

We're going absolutely mad with enquiries for extensions and remodelling of existing houses, which I've put down to the fact that everyone has spent the last three months at home, being irritated by the shortcomings of their existing properties.

I suspect that the same factor may account for at least some of the houses that are now coming on to the market?

[So]

Equus said:

We're going absolutely mad with enquiries for extensions and remodelling of existing houses, which I've put down to the fact that everyone has spent the last three months at home, being irritated by the shortcomings of their existing properties.

I suspect that the same factor may account for at least some of the houses that are now coming on to the market?

It wouldn't account for NEW properties. I.e. new build.

I am not sure whether the volume can be attributed to developers starting to market post-lockdown or the sheer volume of properties being built.

On a slightly different slant, what do you expect WRT the relaxation of planning laws?

[jjones]

Private sellers not wanting to put on the market because they feel it is a bad time to sell and they don't ant strangers coming into their house for a viewing when they can't even go in their parent's houses.

New build sellers just need to shift the things ASAP and don't have these concerns.

[Equus]

Apologies. I misinterpreted your OP (that will teach me to respond to things before the first coffee of the day).

With new builds, I think it's simply a matter of developers restarting their marketing post lockdown.

Given that Boris couldn't govern his way out of a paper bag, I'm not expecting any relaxation of Planning to have any substantial effect. Even competent Governments who have tried before invariably end up just messing things up further, and given Boris' talent for fking things up, I reckon he'll probably manage to do so to a spectacular degree.

Planning is complicated, and the bull-in-a-china-shop approach isn't a good one.

[So]

Equus said:

Apologies. I misinterpreted your OP (that will teach me to respond to things before the first coffee of the day).

With new builds, I think it's simply a matter of developers restarting their marketing post lockdown.

Given that Boris couldn't govern his way out of a paper bag, I'm not expecting any relaxation of Planning to have any substantial effect. Even competent Governments who have tried before invariably end up just messing things up further, and given Boris' talent for fking things up, I reckon he'll probably manage to do so to a spectacular degree.

Planning is complicated, and the bull-in-a-china-shop approach isn't a good one.

Could we read into this that you aren't fond of Boris?

I am intrigued regarding what they might do about retail to residential. I sense that it's something they are looking at. Have got to look at perhaps.

[505diff]

Lots of property for sale to people with no money to buy, that will sum up the next year or two I suspect.

[Doofus]

Equus said:

We're going absolutely mad with enquiries for extensions and remodelling of existing houses, which I've put down to the fact that everyone has spent the last three months at home, being irritated by the shortcomings of their existing properties.

I suspect that the same factor may account for at least some of the houses that are now coming on to the market?

I was talking to somebody just yesterday about this. How many of these extensions and alterations, we wondered, have been made possible by the homeowners not paying the mortgage for the last 4 months.

[Equus]

So said:

Could we read into this that you aren't fond of Boris?

I love Boris. He's very entertaining.

Unfortunately, he's running the country, not presiding over a chimps' tea party, which is where I think he'd really excel (though I appreciate that when you watch our Parliament in action, it can be difficult to tell the difference).

[Equus]

Doofus said:

I was talking to somebody just yesterday about this. How many of these extensions and alterations, we wondered, have been made possible by the homeowners not paying the mortgage for the last 4 months.

I think it remains to be seen how many of them actually come to fruition, too.

It's all very well getting frustrated by your existing home and paying an Architect a few quid to come up with ideas, or to put it on the market and see who bites, but we'll have to see if the post-Covid economy gives people enough confidence to actual go through with this stuff.

[Tlandcruiser]

Doofus said:

I was talking to somebody just yesterday about this. How many of these extensions and alterations, we wondered, have been made possible by the homeowners not paying the mortgage for the last 4 months.

I doubt many extensions being funded from four months of a mortgage holiday.

[jimmythingy]

We have two new estates in our village, one either side. Both have lots of houses for sale which don’t seem to sell very quickly which is strange as most of the existing houses in the village sell very quickly some within two days.

[crofty1984]

505diff said:

Lots of property for sale to people with no money to buy, that will sum up the next year or two I suspect.

Not looking forward to the next few months of trying to sell our house. Already had a buyer pull out.

[PositronicRay]

I hadn't really noticed.

I suppose marketing has been on hold, so just starting to catch up.

[Drezza]

Loads of new builds in my town, not sure if they're selling as I'm not interested in them and filter them out but almost all the non-new builds are selling very fast.

[Doofus]

Tlandcruiser said:

Doofus said:

I was talking to somebody just yesterday about this. How many of these extensions and alterations, we wondered, have been made possible by the homeowners not paying the mortgage for the last 4 months.

I doubt many extensions being funded from four months of a mortgage holiday.

It may have put enough money in the bank to make the project viable.

[sgtBerbatov]

Wouldn't "Help To Buy" loans be due for paying now with some of these new builds?

[Muzzer79]

crofty1984 said:

505diff said:

Lots of property for sale to people with no money to buy, that will sum up the next year or two I suspect.

Not looking forward to the next few months of trying to sell our house. Already had a buyer pull out.

Several friends and colleagues of mine selling over the last few weeks. All have had no issues.

Neighbour of my Dad's had 5 offers in 2 weeks and sold for 2% over asking price.

[anonymous-user]

Lots coming onto the market here in Cambs/Northants and it seems there's a bit of a buying frenzy. I was more interested in how the mortgage valuations were holding up - apparently robustly. Buy all accounts, accepted offers are all over the place, both positive and negative, with sellers hoping to offload before it goes bang.
The agents have no idea which way it'll go, but are making hay while it shines. On balance, they can't see it lasting.

[anonymous-user]

Doofus said:

Tlandcruiser said:

Doofus said:

I was talking to somebody just yesterday about this. How many of these extensions and alterations, we wondered, have been made possible by the homeowners not paying the mortgage for the last 4 months.

I doubt many extensions being funded from four months of a mortgage holiday.

It may have put enough money in the bank to make the project viable.

Even on a 2k a month mortgage its 6k and you've also pretty much guaranteed no further lending from your mortgage provider, I think some people that took a 'holiday' are in for a short sharp shock at some point