House been on the market for 6 weeks with 1 viewing

samlouie

Hi, can anyone help me. My house has been on the market for 6 weeks, we’ve dropped the price twice and had one viewing. Apparently the market is absolutely booming but we just aren’t getting the interest. What are we doing wrong ? 

Wkmg

Link to property please. It will be the price though.

MovingForwards

Scaring potential buyers into thinking there may be something wrong with the property / neighbours due to the quick price drops.

Without knowing the area, price, flat, house, amount of bedrooms, price etc no one can comment.

If you can add a link to the listing people can offer potential reasons.

ElizabethRose

Please put the link but two price drops in 6 weeks sounds overpriced to start with and then getting desperate. 

hazyjo

Are there any obvious compromises with the property? (eg main road? Pub or petrol station next door? Parking issues? Cladding? I could list 100 more...

Why don't you drop the www. and post a link to see if we can advise?

NameUnavailable

Yes, the press are reporting higher than ever prices and a booming property market. This is at odds with what I'm seeing as a buyer, lots of places hanging around and lots of price reductions. I reckon the market is about to slow down massively as we head into Autumn, into recession, see many more redundancies etc. It's a very odd time right now with prices still generally at 'Boris Bounce' levels but with all the uncertainty. I guess if someone really falls in love with a place they'll put a lot of that aside.

Dropping twice in that space of time seems odd. Is it really overpriced? What has your agent said?

coachman12

Without you posting a link to show us your house and estate agents details, your asking price, etc, nobody here can really help you very much, certainly not me. Sorry. Please come back with all the details via links and I'm sure you'll have plenty of advice.

AskAsk

some properties take longer to sell than others.  it could be that the demand in your area is low or that your particular flat is not in demand.  you could try to advertise with another agent.  also ask your estate agent why they think there has only been one viewing.  6 weeks is not that long in terms of selling a property.

jimmyjammy001

Its likely over priced, Since the stamp duty holiday prices of 3 beds have gone up by 5-10% in my area and are not selling, sellers asking for 80-90% more than what they paid for it 10 years ago, just seems unsustainable to me for a house to almost double in price every 10 years.

hazyjo

jimmyjammy001 said:

...sellers asking for 80-90% more than what they paid for it 10 years ago, just seems unsustainable to me for a house to almost double in price every 10 years.

Yet historically, that's usually what happens.

My last one sold in 2006 for £250k and in 2017 for £515k. And that was through some troubled times.

pinkteapot

hazyjo said:

jimmyjammy001 said:

...sellers asking for 80-90% more than what they paid for it 10 years ago, just seems unsustainable to me for a house to almost double in price every 10 years.

Yet historically, that's usually what happens.

In some areas.

We’re in Cumbria and a lot of properties are selling for around the same price they were 10-15 years ago. 

As always though, what the current owner paid is irrelevant. What other things are selling for locally is key, and what else prospective buyers can get for the same money is what matters.