Can’t Sell our Flat - Options?

numbercruncher8

I think it's nicely presented.
But IMO it is pretty much it is the competition and the price relative to them.
There are plenty of other two bed flats of similar age in the area. The majority seem to be on for less and still not selling.
The 0.7m to the station is a major disadvantage compared to some of them which are much closer. 

JGB1955

My first thoughts are that the photographs aren't doing you any favours:

• the lounge is horribly dark
• there seems to be damage to the hall wall
  
• the view from the balcony is less than inspiring
  
• the bathroom suite looks to be 'peach' rather than white
• the undercover parking looks less user-friendly than an allocated parking spae

I'm not up to speed with online viewings but wonder - are you inviting 'real' viewing too?

AdrianC

Nothing really that wrong with the listing. The balcony shot is very unflattering, but that's the view...

This is also for sale in your building...
https://www.rightmove.co.uk/property-for-sale/property-82591324.html
(Unsold since March, £300k - prefer the decor of yours)

Within half a mile
https://www.rightmove.co.uk/property-for-sale/property-90433814.html
(Same floor area, less on the road, £275k, listed since March)
https://www.rightmove.co.uk/property-for-sale/property-93465968.html
(Slightly smaller, but canal view, £260k, June)

That pretty much confirms that if you want to get it sold quickly, price...

As for lower price than 12mo ago - I dunno if you've caught the news during 2020 at all, but there's a bit of a lurgy going round. That's making a lot of people rethink wanting to do the whole commuterbelt thing...

MalMonroe

It's a terrible time to sell. Not only are people worried about their jobs and incomes but people like me, still self-isolating actually, are very wary of doing things like viewing properties. Moving home is the last thing on most people's minds. Are you very desperate? Can't you wait until things start to look up a bit? If you are desperate, you may be able to sell, but at a loss. You'd be better off waiting, if at all possible.

RobM99

Must say, it looks great!!

numbercruncher8

Personally I do like the area - it could be a case of it becoming more popular later on as people want more space. 

Against that, there are 55 2-bed properties within 0.5m of the station. Widen that out to 1 mile and that becomes 106. That seems quite high considering the river. There are also a few like this which started at £295k (previous sales in same block at £300k) and are chasing the market down.

I do think the reasons why there are no viewings is that prospective viewers are simply going to other places to view. Even if they are doing a few places at one go for efficiency, the nicer decor and slight extra space that your place affords is not worth the increase in price from perspective of the viewer. 

Tron103

Thank you everyone! Really appreciate the practical feedback! Patience has never been my strong point but will try and show some kind of patience’s for a little bit to see if we can ride it out and get lucky!

RelievedSheff

Tron103 said:

Thank you everyone! Really appreciate the practical feedback! Patience has never been my strong point but will try and show some kind of patience’s for a little bit to see if we can ride it out and get lucky!

It certainly isn't the presentation of the flat that is the problem. It looks nice from the pictures.

Timotei75

I think the flat looks lovely but agree price is prob the issue (but I don’t know the area). We sold a flat earlier this year and it might be worth adding any ground rent and or service charge costs to the listing, people maybe put off from the lack of info. 

ProDave

There is a picture of a grass area but no mention?

If it has a garden, even if just the use of a communal grass area, then mention it.  That would have been damned nice during lockdown compared to just the balcony.