House listed for three months with no viewing/enquiries

airandwater

Crashy_Time wrote: »

Brexit is affecting buyer sentiment, it is definitely relevant, it is probably the biggest hit to property/general economic sentiment since the crash of 2008?

The point I was trying to make is that a house listed at a signifigant premium over similar houses will struggle to sell regardless of whether Brexit is happening or not.

Investment properties are affected by brexit but properties are still bought and sold by new families, those looking to downsize or moving because of jobs.

A current problem is that some sellers are living in the mindset of 2015 and list their homes at 22-30% over what they paid as if it's everyone's god given right to make a big profit on their property.

The market has retracted from the peak of the bubble and unless you live in a highly desirable area its unlikely that anyone will pay through the nose for you house.

Crashy_Time

People can do many things before they buy a house though, they don`t HAVE to buy because they have started a family or have moved for work, they can stay with friends/parents/rent/commute etc. Not ideal maybe, but still doable? If the prevailing sentiment is that prices are dropping, and they are dropping along with transactions, people will hold back and "slum it" for a while to see what happens IMO.

DaveLePen

DaveLePen wrote: »

Dear all,

I have my house listed on Rightmove since the beginning of July, and there is absolutely 0 viewings/enquiries.

I have already dropped the price once at the beginning of September.

The ad on Rightmove gets clicked around 10-20 times a day, despite hiked to 160 the day after the price drop.

It is a semi-detached house/bungalow at HD58HZ, currently priced at £195k. Any advice/comments are much appreciated.

Regards,

Dave

Thanks for all you kind comments, but there is still no progress on selling the house. I am now considering to put it on auction. Any comments/suggestions?

Regards,

Dave

Crashy_Time

airandwater wrote: »

The point I was trying to make is that a house listed at a signifigant premium over similar houses will struggle to sell regardless of whether Brexit is happening or not.

Investment properties are affected by brexit but properties are still bought and sold by new families, those looking to downsize or moving because of jobs.

A current problem is that some sellers are living in the mindset of 2015 and list their homes at 22-30% over what they paid as if it's everyone's god given right to make a big profit on their property.

The market has retracted from the peak of the bubble and unless you live in a highly desirable area its unlikely that anyone will pay through the nose for you house.

Yes, fair points.

Gwendo40

DaveLePen wrote: »

Thanks for all you kind comments, but there is still no progress on selling the house. I am now considering to put it on auction. Any comments/suggestions?

Regards,

Dave

So despite all the advice and observations over the previous 4 pages as to how the price simply doesn't stack up compared to the competition you're still determined not to just reduce it?

AnotherJoe

DaveLePen wrote: »

Thanks for all you kind comments, but there is still no progress on selling the house. I am now considering to put it on auction. Any comments/suggestions?

Regards,

Dave

That is equivalent to agreeing the price is too high and lowering it. So why not reduce the price right now to one between what you are asking now (which is obviously far too high) and what your reserve auction price would be. Also, be aware that traditionally the next 6 weeks or so are dead as far as house buying goes so I would wait until mid Jan befure auctioning, if that price drop has no effect,

Crashy_Time

Why not just reduce it to a price that gets people interested and viewing?

Crashy_Time

airandwater wrote: »

Why do people mention Brexit in this thread. It's irrelevant.

As others have mentioned it's a bungalow with a loft conversion on a less-than ideal plot off a main road. It therefore needs to be priced like a bungalow and not like a two storey house on a better plot with more attractive attributes.

The price is simply too high. A converted bungalow on a similar plot in the area sold for £128,000 in April this year. You need to lower the price to £150,000.

Brexit is extremely relevant to why houses are sitting longer on the market IMO.

00ec25

it is listed as a bungalow but isn't a bungalow

it is competing against those that
a) are genuine bungalows
b) have off road parking and a level plot
and
c) are a lot cheaper

https://www.rightmove.co.uk/property-for-sale/property-54370269.html

and those that want family 3 bed houses are buying this and are getting it for 55k less than you are asking
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=54660621&sale=7747426&country=england

and those happy with a sloping plot are getting a 3 bed house with garage for 125k
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=69292727&sale=6661297&country=england

duchy

Why not
get a new agent ,
Dress the house so it looks a little more loved
Get new photos
Make sure the new agent has it searchable as both house and bungalow
Consider what the new agent says about realistic pricing

I'd not consider auction until you've done this first.