Thanks Covidbuyer and Freefallin. You both make some very interesting points and it’s good to get another reflection of the market.
As you mention Freefallin, I’m also worried about that ridiculous Shared Equity Scheme coming out this summer, it will undoubtedly drive up the cost of new houses which in turn will have an impact on second hand house prices, in my price bracket at least. Obviously, it wont impact the house prices you are looking at Covidbuyer.
A good/straight agent I was dealing with also recommended holding off buying for 12 months if possible. Things will ‘settle down’ by then were her exact words. It’s very hard not to bid if you can afford it (even just about it) and the house ticks most of your boxes.
Interesting that some agents have properties ready to go for advertising, gives me some hope. You would think potential sellers would put their properties up for sale now given supply is so low and the bidding without having viewed situation seems to be adding to the frenzy.
Only today I asked an EA could I view a property, he said, “we are hopeful we will have viewings after Easter,” so with a bit of luck viewing might start back up next week.
I think we are going to start seeing some ridiculous asking prices too. I’ve noticed one or two already in my market. Although, I guess they’re not ridiculous if someone is prepared to pay it.