No house viewings in first 4 weeks

markin

Got it in my head that it was 285, The price range on that 1 street is insane!

At this point im at a total loss as to how to decide if your house is good value for money or not! Or whats wrong with it to be so low compared to most of the street!

Crashy_Time

SharkMoney said:

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?

Looks like here...https://www.plumplot.co.uk/...?

Crashy_Time

Ashdav said:

Also yes there are around 3000 newbuilds being built just down the road. I thought high newbuild prices and small rooms would put ppl off...apparently not haha

How many are sold?

markin

Is it every house next to the main road that is 60K cheaper? And what is the bigger problem, the road or the council strip of land with the trees casting your gardens into darkness?

Ashdav

House prices vary on the street as some have had extensions, others are different styles (some bigger, some smaller) and detached. Ive requested that the leasehold is removed from the beginning of the advert, which has now been done. Floor plans booked in for next week. 

GDB2222

Sorry. I cannot delete this!

Darkslider

With all the negative press surrounding leaseholds recently, I like many others have done research on the subject and decided I wouldn't purchase one at any price. Don't listen to anyone telling you it's not an issue and won't be putting buyers off, there's several posters on this thread alone of the same opinion. 'Virtually freehold' isn't the same as owning the land your bricks and mortar stands on outright, and is a big psychological barrier to overcome in what is the biggest emotive purchase of a lifetime for most folk. 

Have you investigated buying the freehold for your property to help with the sale? If other houses on your street have managed it it hopefully won't be too arduous and might explain the range of values, the freehold properties being more attractive than the lease?