No house viewings in first 4 weeks

SharkMoney

Retired_Mortgage_Adviser said:

Ashdav said:

Hello, our house has now been on the market for 4 weeks and we have not had a single viewing. Our Zoopla viewing figures are now at 900 but nothing. The property is on at a reasonable price- in line with others in the area. The estate agent tells us to be patient but we are starting to feel disheartened. Do we need to relax or is realistically the only answer to reduce price?
Thanks

The house sold for 165k in August 2018. Looking purely at how sold prices have moved in the NE5 post-code from August 2018 to Nov 2019 (couldn't find a website that collates more recent data than that)

- On average, the sold price of a semi has dropped by 5%.

- Looking at the median, the sold price of a semi has dropped by 8%.

See data below.

Disclaimers:
- Just to be clear, this is not to definitively say that your house is overpriced (as there is always a local micro market that could vary significantly from the average) but that it could well be.

- Also, the number of houses sold over a period of 16 months might also be too small to make to make these statistics meaningful.

Where are these graphs from pls?

[Deleted User]

As mentioned the very long lease and cheap ground rent must be mentioned. Also that there are no maintenance charges. I skip houses without a floor plan so that is urgent imo 

Catti

Looking at the land registry maps, a lot of houses have bought their freeholds, so the lease is still likely to be the biggest concern.

Sncjw

There’s new build near the jingling gate pub so your competing with that. 

Sncjw

The fact it’s. Leasehold will put people off 

Owain_Moneysaver

•  Leasehold
•  Unfurnished

are the first things I see first on the property listing. Leasehold will put people off, and unfurnished is irrelevant in a property for sale. 
The solicitor shouldn't weasel out of saying what the lease arrangement is even if it's a case of "we understand the lease is £x for y years but are waiting for confirmation from the seller". 

The house is nicely presented and the photos are mostly okay - although I'd like the photo after the lounge to be the dining area. Can you put a single bed in the 3rd bedroom - is that a stair bulkhead? 

A pressure washer over the front and back paving would freshen it up a bit, but it's a minor thing. 

Once your listing addresses the leasehold issue, the only thing remaining is going to be price and local demand. 

PasturesNew

I'm probably repeating with others have said. 
No floorplan.... it's critical/important to me to know how a house is set out, how it flows. I've no need for a 3 bed, but there are more of those than other houses, so I look at them to see how the space is used, so I can work out if I could live in it and think about what I'd be doing with all the other rooms I don't need. 
Looking at local house price movements since you bought it, one site I use indicates it's now worth £1,500 less than you paid for it in 2018.  This drop in value is quite normal in many areas, it's not just you/your house/your area. 
The photographs are just quite ordinary.... and without a floorplan I've really no idea what I'm looking at most of the time, so it becomes a blur. 

900 views and 0 viewings isn't unprecedented. I think when I put mine up in September 2018 I got 1200 views, one of the most popular that week for the agent - yet 0 viewings.  

As a buyer/viewer, if a house isn't hitting the spot for location/price/layout/condition .... I just sit on it, no point viewing it until I'm forced/pushed to look at it again.  Forced/pushed is because there's nothing I prefer out there ... 

Others won't view houses as they viewed some, but theirs hasn't sold, so they've lost the will to view right now.  Also, it's half term in many areas, so a lot of people won't be looking/viewing seriously until next week. 

Price is key.  If it were for sale at £160k it'd have had a lot of viewings. ...  somewhere between £160k and £185k is the price that'll motivate buyers to come and look. 

gwynlas

Floor plan and better description including lease length ie virtual freehold. Off road parking even thoigh it mentions drive,
Property prices seem to be all oner the place so toy should look at what makes yours stand out, almost new refitted kitchen and appliances etc . Estate agents sometimes need guiding, why have they stated unfurnished it is for sale not rent?

markin

Delete

Why are the houses on the street so wildly different in price ranges.

PerfectMess

markin said:

Sorry but a little look at the street data suggests to me that you should not have paid more than £250 for that house at the time, And spending 30K (example) on a kitchen will not mean you will get that back.

I’m not sure what you mean. It’s a 3 bed up for £185k. 

You missed out the 3 bed above those number 66 which sold last year for £224k