What do you think about the current state of the housing market?

[wiggydiggy]

A relief since the market was crazy after that. Houses sold within hours or even didn't get put on sale at all before getting offers in. In fact the process was sealed bids with some houses going for 20% above asking price or even more! My parents friend got more than 100k over a 300k asking price!

That was my experience, I started seriously looking in May 2022 and found 5/6 houses I liked and arranged to view them. There was only 1 house I preferred to this one and yes that was sold within 2 days on going on. The one I got had been previously advertised at a higher price and they had reduced it. The others I went to see all sold within a few days as well except for one that had a big reduction of £25k before it sold.

My conveyancer though was awful, very slow and the broker I used who had recommended me the conveyencer could only apoligise and said they were no longer using those. I think only the fact I was a first time buyer with no chain, and a guaranteed mortgage offer, stopped the sellers from backing out as it took so long.

 

[cyberknight]

bank crash 2008 we had to downsize as i was on short time for 2 years and took the decision to buy a repossession but in the end we had to sell it as there were that many issues we had to get out and now it a house with a mortgage the ends when im 65 even though its not a brilliant house or area .
We cant get enough of a mortgage at my age to move somewhere better , with the cost of living crisis my FIL is looking to downsize too ,

 

[Moderators]

Closed and awaiting some post editing.