Buying a house in 2022: why are there no homes for sale and how can you beat other buyers?

In search of an Easter break from work, I went to Brighton to spend a few days at the beach. It turns out that you can escape your surroundings, but you cannot escape yourself – or you job – but I was able to enjoy the sunniest day of year in Brighton, judging from the few conversations I had. They couldn’t find any houses to view. One couple decided to give up on south London house prices due to the pandemic, thinking they could save money on the coast. They were instead in town for their third physical viewing in six month. Another couple is moving to Sheffield from the South. They would, if they weren’t constantly outbid on new homes. Marylebone’s hopeful trader uppers are finding that it is not the high prices that are holding them back, but the inability to find a single flat for sale. House prices are rising in double digits. Two thirds of properties sell within a month of being put on the market. Despite the looming cost of living crisis and interest rate rises buyers are still waiting to see an estate agent’s board. The number of homes on agents’ books is historically low. This is partly because, aside from homeowners who are facing changes in their lives (death, divorce, and old debt), there is no real pressure for them to sell. While mortgages are still cheap, rents are increasing again, encouraging landlords to keep firewood. “In many cases, low supply is due to a vicious circle with potential sellers holding back because they can’t find anywhere to live. New sales orders were also discouraged by the end of the stamp duty holiday. The good news is that the tide may be turning. According to the most recent RICS market survey, spring has come to the UK property market. The number of homes for sale increased for the first year in a row. Knight Frank reported that the number of sales instructions in March across the UK was only 0.5% below the average over the past five years. However, demand is rising faster than supply. Knight Frank predicts single-digit price increases this year and next. However, prices are rising and inflation is booming, so if you have the opportunity to buy, do it. But how do you find a home for sale? And how do you ensure you’re the one who gets it? Sometimes, analog methods work best. Karen Goodin, buying agent Heaton & Partners, says that she has just sent notes through doors to people for a Queen’s Park client. “There is very little stock and there is a lot of interest in houses with gardens. “My brother just sold his house, and he had five viewings with three offers the first day. Goodin believes that the successful bid was more than money. However, the offer accepted by the people did go slightly above the asking price. “But he might have accepted them even if others offered higher offers, because they were the best buyers. They are in rented accommodation and have a mortgage in principle. This allows them to move quickly. My brother can also move in July. Goodin suggests that if you have a buyer for your property and are not able to find a new home, you might consider moving into a rental. Goodin also says that they have a lot of customers who buy at the GBP1million level. Matt Turner, founder and CEO of Astute Property Search, agrees that the extensive knowledge of buying agents of the property market combined with their experience ensures that the buyer can find the best deal. They are also exposed to homes that have just been released or are still on the market. If you don’t have the budget for additional support, I recommend doing extensive research to help you stay ahead of the curve. “Scour property listing websites. You can find trustworthy agents or have a good record in your area. Follow their website and call them up to establish a relationship. Also, you can check out what’s happening on the market. Turner encourages buyers to be personal and show some personality. “We have seen cases where potential buyers won a secured bidding situation by showing the seller a personal gesture or telling them why they are so excited to live there.”