Anyone else still trying to sell in London?

sidewinderflame

Hi Everyone,

I've had my property on the market since July and am still trying to sell it. I'm wondering whether changing estate agents will make any difference or not, any advice would be very very welcome.

Since July I've had 5 viewings, four of which came back, two of which offered. I got an offer of just under the asking price within the first couple of weeks but this fell through as their buyer fell through and they haven't had one since. I also got an offer a few weeks ago which I turned down as it was 25% under the asking price, they never improved on this intial offer.

I've spoken to my agents loads who are one of the bigger/main agencies and they have told me that the price is correct and that my property shows extremely well. Having reasearch others in the area I tend to think the same. I haven't had any negative feedback from those that have visited, none have mentioned the price, they all have liked the property but other than the two that offered, one had their situation change with getting their deposit and the other one decided on a different property.

My agents keep saying that Brexit, the American election and Stamp Duty changes have completely dulled the market and they are finding this throughout their books at any price. The people that have come have come directly from their books though and none have come through Rightmove or Zoopla.

I'm thinking about changing agents in the New Year but this will definitely mean an increase in agents commission which is why I'm not sure whether it will make any difference or not. Surely if you're looking for property a 2 bed in my area then as mine is one of a few two beds available at the moment you will find it, whether you're on somebody elses books or not. Maybe I'm being too simplistic.

Are other people finding this problem with selling, my flat is in the higher price bracket admittedly which would mean there are less buyers (the ones that have come have all been cash)? I'm just at a loss as to what to do as I need to sell really in the next tranch of Jan-Mar/April and not sure whether to leave it as is or switch.

Crashy_Time

http://www.dailymail.co.uk/wires/reuters/article-3941130/Barratt-cuts-price-expensive-London-homes.html

Bluebirdman_of_Alcathays

Crashy in 3,2,1......


edit - what are the chances!!!!

Out,_Vile_Jelly

That is a paltry number of viewings. A competitively priced property in London will sell. I live in a scruffy part of town and 2-3 bed houses sell quickly, because they're priced sensibly.

Bluebirdman_of_Alcathays

FWIW if this is fairly central London, I think you have to expect a softening in price. If you want to shift it, frankly, you will need to drop the price. I don't buy my learned friend CT's theory that this will trigger the next financial apocalypse, central London was very overcooked in the run up to the SDLT changes. But as Jelly says, any competitively priced property will sell. You want to avoid chasing the market down, so you may as well do it now.

Crashy_Time

Bluebirdman_of_Alcathays wrote: »

Crashy in 3,2,1......


edit - what are the chances!!!!

Wow, you were on the chum line in just under two minutes, and I have not posted much recently either. Just shows that some people REALLY don`t like any narratives about falling prices.

Bluebirdman_of_Alcathays

Crashy_Time wrote: »

Wow, you were on the chum line in just under two minutes, and I have not posted much recently either. Just shows that some people REALLY don`t like any narratives about falling prices.

Not true at all - read my second post. There are areas of the country where things were/are bubbletastic. There are also areas where it is dirt cheap, even relative to earnings.

Crashy_Time

Bluebirdman_of_Alcathays wrote: »

FWIW if this is fairly central London, I think you have to expect a softening in price. If you want to shift it, frankly, you will need to drop the price. I don't buy my learned friend CT's theory that this will trigger the next financial apocalypse, central London was very overcooked in the run up to the SDLT changes. But as Jelly says, any competitively priced property will sell. You want to avoid chasing the market down, so you may as well do it now.

All my link says is that a major UK builder is dropping prices, and the OP wondered why their bank "undervalued" a house from this builder, no conspiracy theory or end of the world stuff involved.

Crashy_Time

Bluebirdman_of_Alcathays wrote: »

Not true at all - read my second post. There are areas of the country where things were/are bubbletastic. There are also areas where it is dirt cheap, even relative to earnings.

Can you post a link to something you consider "dirt cheap" please.

Bonfire_Bride

In London, I would expect more viewings than 1 a month. Our house was on the market in Wales, next to a pub and was on the market for 19 months.


We had approx 1-2 viewings a week in that time.


Something is putting people off...

Crashy_Time

Bonfire_Bride wrote: »

In London, I would expect more viewings than 1 a month. Our house was on the market in Wales, next to a pub and was on the market for 19 months.


We had approx 1-2 viewings a week in that time.


Something is putting people off...

GIVE ME A P....GIVE ME AN........R.........:rotfl: