What Do People Really Think About The Housing Market?

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We're always keen to hear what people really think about the housing market, and really appreciate anyone that takes the time leave a comment. Everyone has an opinion and its often very varied.
So in our latest podcast Phil Spencer is re-joined by Nathan Emerson, CEO of @Propertymark to discuss comments left on our last housing market review as well as sharing some top tips if your considering a move in coming months.
👉 This is the video where we picked up your comments • A Look at the Housing ...
Please use timestamps below to skip to your topic of interest:
👉 VIDEO TIMESTAMPS ⏳
00:00 Introduction
00:58 Affordability that sells property, not optimism
05:08 Who is lobbying to change the way in which properties change hands in the U.K?
09:16 First-time buyers want house price reductions
11:36 Long term solutions needed to stop house prices continuing to run away from wage growth
12:05 Agents over-valuing property
16:47 Top tips for first-time buyers
18:46 Advice for first-time sellers
PLEASE NOTE THIS WAS RECORDED BEFORE THE ANNOUNCEMENT OF THE GENERAL ELECTION ON 4TH JULY
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Опубликовано:

7 июл 2024

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Комментарии : 22

@peromalmstrom7668 Месяц назад

A real annoyance. Some large Estate Agents, now have a central phone-line office. I’ve experienced since registering interest to sell and buy a property, individuals call me about houses in my area and can’t even pronounce the place names in the County. So I delisted my interest from them, as they were aggressive, pushy, ignorant, rude and became stalkers! Advice, stay with only local agents if staying in similar area to where your selling.

@VictoryHand Месяц назад

I'd love to see the housing purchasing system get a complete reform

@Billywoo12 Месяц назад

Me too - it is a global outlier. No other country has the system we do, with the lack of commitment and the horsing around... inefficient, costly and painful for all concerned.

@megajouleforcurrency Месяц назад

The asking price indices need to reflect price reductions, not only newly listed properties. Of course, talking up the market by cherry picking the data serves only for agents to secure instructions. The longer term impact of overpricing is the slowdown in sales due to difficulties servicing the new normal monthly payments with interest rates back to their longer term average

@Billywoo12 Месяц назад

Appreciate the question being raised at 5:10, Nathan and Phil, appreciate the insights! A 25% cancellation rate is a terrible record and a waste of everyone's time and fingernails! In our case, the solicitors on the buyers side were only getting back to ours after about 6 weeks, per question! So we had to pull the pin and re-rent out home. The purchaser was naturally devastated but our time frame of 3 months to exchange was never going to be met. Businesses can be bought and sold is less time! In my view, solicitors are winning, surveyors are winning, search organisations are winning. They now get to charge for incomplete work, and charge again!

@Elizabeth-jd3mn Месяц назад

Wonder if people are worried about future punative green taxes based on energy efficiency? I'm rejecting properties that are below a C because I don't trust our politicians not to become zealot like when taxing.

@Elizabeth-jd3mn Месяц назад

Do you think the 18.6 year real estate cycle will dictate house prices in 2026?

@BobBuilder-mq9wr Месяц назад

Mps have been changing the country's dynamics by opening up boarders fully open , had 2.1 million in just 2 years !! I'd love to see prices fall for a healthy market but there's to much money involved now so is corrupt and supply and demand will win

@mat-ur6qb Месяц назад

According to that model, we should be in a boom phase now. Think COVID knocked it out of sync?

@Elizabeth-jd3mn Месяц назад

All the headlines are suggesting 'asking prices rising'. Are estate agents deliberately trying to force prices up? We're in rented and house hunting at present. There is very little selling at the price tag we're looking at. Some properties have been marketed for over a year despite being reduced. I suspect the greedy agents are asking more but sellers are having to sell at lower prices than advertised. Many people don't have the disposable income they had before lockdown damage.

@BobBuilder-mq9wr Месяц назад

Agents and Goverment vote chasing is definately the problem and the market is very ill, even though they let on 2.1 million people in last 2 year's

@naeedaafzal3055 Месяц назад

they are going up but not selling

@flickthenick Месяц назад

IMHO the market is comatose, more than a year on the market, 3 different agents and a 20% drop and still no takers. It's all talk until the BOE rates drop and maybe something on the stamp duty rate?

@Elizabeth-jd3mn Месяц назад

People don't have the disposable income they had before lockdown. Council tax, car insurance, energy, groceries....all up. I suspect it won't improve much even with rate cuts as people are nervous now they've experienced high rates they've never seen before. A whole generation now what high rates does and will think twice about over stretching.

@BobBuilder-mq9wr Месяц назад

Don't underestimate the Uks population stupidity

@PFL44 Месяц назад

As with anything which doesn't sell, it's over valued. Your home is overvalued.

@flickthenick Месяц назад

@@PFL44 mmm possibly though all other properties in this area reflect similar valuations so hence the whole market may be to high. You will however be in between a rock and a hard place if your valuation drops a lot as no one else is doing this so hence why I state that the market is broken...

@PFL44 Месяц назад

@@flickthenick The market certainly is broken. It sounds like other sellers in your area are all complaining that their home isn't selling but not actually accepting the reason is that their home is overvalued. The buyers market has changed. There are buyers, just not at the prices being asked. The solution is to reduce the price under all the others on the market and then have the choice of the buyers, hopefully getting a bidding war to find the actual market level. A good agent will know what this price is.