House Prices #2 Property market, buying and selling

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Caffeine Fiend said:
Absolutely agree with the above. The selling off of council properties should never have been allowed. I can understand it probably got people onto the property ladder that may never have managed it and the discount is given due to the rent thats been paid for x years.

I feel like the long term implications of it werent realised. It would be different if they had built new for every one sold but they havent and the stock is desperately low.

I was reading an article about affordable housing in NYC where there isnt a basic rent but rent is based on your earnings which I think is a great idea. Affordable housing shouldnt be a luxury.
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my partners dad earns £80k a year and drives a brand new jag (not on disability) 4x4 and they still rent a council house.
It makes me feel sick. After you hit a certain wage bracket you should have to move out as those who are genuinely needy are missing out.
 
whoareyouu said:
my partners dad earns £80k a year and drives a brand new jag (not on disability) 4x4 and they still rent a council house.
It makes me feel sick. After you hit a certain wage bracket you should have to move out as those who are genuinely needy are missing out.
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I agree. There is a woman on Instagram, I forget the name as I got blocked, but she rents a council flat in Nottinghill that she got a single mum. Her now husband earns a fortune and she spends 8+ weeks of the year in France but do not see why she should give up her very cheaply rented property to someone who needs it. It makes my blood boil knowing there are families in appalling temporary accommodation because there is no where else for them to go when some people have more than enough money to privately rent or buy but enjoy the cheap ride.
 
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
 
ejej123 said:
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
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With 30 viewings, Id go the full 10k over if you want it.

10k over isnt that much in current market sadly :(
 
ejej123 said:
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
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Personally, I'd go as high as you want to pay. I agree £10,000 above is nothing in this market. People are going £50K or more over in some places.
 
ejej123 said:
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
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Do you know there are 30+ viewings booked in? If that's really the case and your buffer is £10k then honestly, you don't have much movement to offer but if you're in a good position in terms of being chain-free then that will help. I think your best chance is to be early in the viewings, offer £10k over asking as full and final and ideally being in a position to proceed quickly. Not playing games may be appealing to a seller.
 
I dont think it should be means tested but you should pay rent amounts in relation to your income.

This would allow those on lower income to pay less and have no upper limit for those on higher income.

Secure housing should be available to everyone. Not everyone wants to buy property, and if you dont want to or cant afford to you should have the right to affordable secure housing and not be paying extortionate unaffordable rental costs with no security.
 
whoareyouu said:
my partners dad earns £80k a year and drives a brand new jag (not on disability) 4x4 and they still rent a council house.
It makes me feel sick. After you hit a certain wage bracket you should have to move out as those who are genuinely needy are missing out.
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My mum has been in her council house for over 40 years. Most long term tenants have protected tenancies, she has a 3 bed house that she pays £450 a month for and the house next door is selling for 450K and needs work. Its only her and my dad there, two spare rooms. She has always paid full rent and got a new kitchen worth 12K a few years ago.
 
ejej123 said:
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
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Offer what you’re prepared to pay but if accepted, say you want it taken off the market and any further viewings cancelled.
You can gage it too. Find out if there have been offers, they should also tell you if they are at or over asking. However, if there are 30 viewings and no offers, should that be a red flag? Use the estate agent to your benefit, they don’t only work for the vendor.
 
ejej123 said:
advice needed please!
Viewing a property tomorrow but know there are 30+ viewings booked in over the weekend.
We know there’s a 99% chance of us wanting to make an offer and it will be the first offer we’ve made on a property.
Do we go in for above asking price straight away? Should we put in nearer our ‘best and final’ to begin with? Not sure how to work this to be honest! We’d be happy to go £8-10k above asking price.

Thankyou!
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Go over for sure. I'm sure you know but a tip is to never offer ending in 5 times table. So don't offer 150k or 150.5k try to make it 151k or is the price is £550k and you wanted to offer £555 then do £556 etc. Sometimes it is that close.
 
JoeBloggs said:
Personally, I'd go as high as you want to pay. I agree £10,000 above is nothing in this market. People are going £50K or more over in some places.
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Tommyb said:
Go over for sure. I'm sure you know but a tip is to never offer ending in 5 times table. So don't offer 150k or 150.5k try to make it 151k or is the price is £550k and you wanted to offer £555 then do £556 etc. Sometimes it is that close.
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Thanks all! Viewed house today, it’s a great option for us. Have offered 11k over asking so will hopefully find out Monday. Fingers crossed, could potentially go few thousand more but going to see how it goes
 
ejej123 said:
Thanks all! Viewed house today, it’s a great option for us. Have offered 11k over asking so will hopefully find out Monday. Fingers crossed, could potentially go few thousand more but going to see how it goes
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Good luck!

After a year of completing on our sale, we have finally found something we really like. Viewing it next week and hope to god we love it as much as the photos and don’t get into a bidding war!
 
I can’t get over how crazy the housing market it. I definitely thought it would have crashed by now. I bought my 3 bed victorian terrace for £130k (which was £5k less than it was on for) at the very end of 2020. To get it under the asking price was a miracle but I was in a great position. I could put it on for £150k+ easily. One went further down the road in a couple of days and it isn’t in as good of a condition as mine with a smaller kitchen. When I had sold my previous house in 2020 it had been on the market for 2/3 months with lots of interest but no offers then I accepted below asking but that sale fell through with COVID when they lost their jobs but when I resold in the July and there was a bidding war and I got £10k more than I’d previously accepted. Now that area is selling easily for £10k more again.
 
unidentified said:
I can’t get over how crazy the housing market it. I definitely thought it would have crashed by now. I bought my 3 bed victorian terrace for £130k (which was £5k less than it was on for) at the very end of 2020. To get it under the asking price was a miracle but I was in a great position. I could put it on for £150k+ easily. One went further down the road in a couple of days and it isn’t in as good of a condition as mine with a smaller kitchen. When I had sold my previous house in 2020 it had been on the market for 2/3 months with lots of interest but no offers then I accepted below asking but that sale fell through with COVID when they lost their jobs but when I resold in the July and there was a bidding war and I got £10k more than I’d previously accepted. Now that area is selling easily for £10k more again.
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I need to move where you are. That wouldn't get me a one bed flat where I am. I've noticed there are fewer houses up for sale where I live. We were looking at moving but I'd need to spend way over our budget to get what id like, so I'm going to stay where I am and extend. I don't know how people afford such crazy prices, salaries aren't very high where I live, I'm 17 minutes from King's Cross and the average wage is 20K a year.
 
Homebird44 said:
I need to move where you are. That wouldn't get me a one bed flat where I am. I've noticed there are fewer houses up for sale where I live. We were looking at moving but I'd need to spend way over our budget to get what id like, so I'm going to stay where I am and extend. I don't know how people afford such crazy prices, salaries aren't very high where I live, I'm 17 minutes from King's Cross and the average wage is 20K a year.
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Joys of being really far up north. About the only benefit 🙄😂
 
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