Is the market slow at the moment?

class2ldn

We've had our house on sale for 3 months now and not getting people through the door.
Not sure why, I know people will say the house is on too high but we've got a guide price of 280-300 and I thought we'd be flying at 300 let alone 280 but nope.
The house 2 doors down has just sold for 315 but it has a slightly bigger garden.
We've talked about switching agents but not sure that would make much difference as most people look online anyway.
We live just outside of gatwick with good transport links so we are a bit baffled as to why we are not even getting anyone through the doors.
We've changed the carpets and do need to update the pictures.
Can post a link if anyone wants to have a nose or maybe give some advice on improvements.
We know the windows probably need replacing and I'd expect maybe lower offers but no viewings is getting a bit disheartening now.

pumpkin89

Please post the link It's very hard to see your own house as a stranger does, and there may be small tweaks you could make to the listing that would encourage people over the threshold.

We were on the other side of this - the people we bought our house from had had it on the market for nearly 18 months with little interest, and we weren't too sure from the online listing but decided it was worth a viewing. The reality was so, so much better than you would have expected and we got it for much less than it was worth, IMHO. Don't be that seller!

Surrey_EA

August is always a quiet time with many people away on holiday, but sounds like you may have been on the market for all of June and July too.

If the response has been so poor I'm afraid price is likely to be a factor.

class2ldn wrote: »

Can post a link if anyone wants to have a nose or maybe give some advice on improvements.

Make sure you have a thick skin, and do not take it all too personally, but you will likely get some useful feedback.

class2ldn

Well see the price I genuinely think is ok, we've had 3 different agents around all saying the same and 1 person who viewed ours bought the house 2 doors down for 15k more then the asking price.
We aren't greedy but like I say it does have a guide price of 280 -300 so there's plenty of scope for negotiation. If the house 2 doors away sold for 315 then being virtually identical theres no way its worth 35k under it.
My wife doesn't want the link posted lol so that's out. Just wondered if now is a bad time with the fear of brexit, summer holidays, interest rates etc.
I did look at letting it out but the wife doesn't want the hassle and I don't blame her, it's a lot of responsibility even though we could probably get a good rental income IF we get good tenants.

jennhg88

I live not far from you and the market is slow. Things are only selling when prices are reduced drastically.

Drawingaline

I have been looking at what is available near us (also in the south) and nearly every thing in our budget has been reduced. Things that are on slightly above our budget seem to be doing better, but I am assuming that may change over the coming months if people are offering less for the smaller properties.

We are not looking atm, possibly this time next year am just trying to get an idea of prices, but things are definitely stagnating here unless you he something particularly special.

ric1982

It really depends on where you are. In and around London yes its slowing down. In midlands no so much.

class2ldn

The other issue for us is logistically it's a bit awkward for us. Basically we want to move to be near my daughter in gloucestershire but it's work that's an issue.
I'm a train driver so I have to go where the work is so I'm limited to within 1 hour of a depot.
I have to give 3 months notice to leave my current employer so I'm worried that if I give my notice and then the house falls through I'm stuck with a job miles away and house still nowhere near it . We can't afford to rent and pay a mortgage which is why I was looking at letting it out but it's not for the faint hearted being a landlord and the wife is definitely on the negative when it comes to that so a bit unsure what to do.
Apparently I can't retract my notice and with it being 3 months it's quite a long time frame .

Crashy_Time

jennhg88 wrote: »

I live not far from you and the market is slow. Things are only selling when prices are reduced drastically.

Money savers where you are should be happy.

Cakeguts

class2ldn wrote: »

Well see the price I genuinely think is ok, we've had 3 different agents around all saying the same and 1 person who viewed ours bought the house 2 doors down for 15k more then the asking price.
We aren't greedy but like I say it does have a guide price of 280 -300 so there's plenty of scope for negotiation. If the house 2 doors away sold for 315 then being virtually identical theres no way its worth 35k under it.
My wife doesn't want the link posted lol so that's out. Just wondered if now is a bad time with the fear of brexit, summer holidays, interest rates etc.
I did look at letting it out but the wife doesn't want the hassle and I don't blame her, it's a lot of responsibility even though we could probably get a good rental income IF we get good tenants.

The estate agents can't give you an exact valuation. You only get that when someone actually buys the property. So it could in fact be worth £35k under the one two doors down if that is all someone is willing to pay you for it.



The fact that the one two doors down sold means that the market is not slow or that one would not have sold either. What is going on is that people do not think that your house is worth the price you are asking.

class2ldn

Well I wouldn't mind that if we had people through the door but you cant assume that just by looking on rightmove etc so if people don't even look then how do they know?