Not getting viewings 1 month in - lower price and if so when and by how much?

Bossypants

It's been on the market for a month and we've only had one viewing, which the estate agent managed to wrangle from people who came in with a lower budget (we're still waiting for feedback but not holding our breath). The price is what the estate agent recommended based on the fact that it has parking for two cars, a large garden and is a 5 minute walk to the station. We always found it seemed quite optimistic but were willing to give it a go. However given the lack of viewings we are now having doubts. We're aware it's not the most active market but even so, should we lower it and if so should we do it now or in January? Any advice much appreciated!

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horsewithnoname

Only my taste of course and everyone has different taste, but other than removing the bunting from the garden and repairing the fence - I’m not entirely sure but it looks like there may be a panel missing by the trampoline? But I can’t see anything that would put me off. Maybe look at what has sold round and about because I’ve no idea what prices are round your way. 

Unless the price does seem very overpriced then I think up to Xmas is generally a bit slow for sales. 

Again, maybe just me, but I find it odd that the first photo isn’t the front of the house, though I can’t see that bothering anyone to be fair. 

Bossypants

Thank you! The first photo was the house front for the first few weeks, we changed it to see if it would make a difference as to be fair the front is pretty dull. It didn't though so now we are thinking price is probably the main issue. 

ReadySteadyPop

Looking at the sales history you seem to be very overpriced to me, what has changed with the house for the increase in value since 2017 for example? Remember that interest rates were extremely low back then, now they are much higher and mortgage rates are moving up as well. Are you using PropertyLog or similar to compare with other sellers in the area?

kinger101

It's a slower time of year, so that might factor in.  But if it is price, it needs to come down a sensible increment.  About 5 percent.  

RelievedSheff

ReadySteadyPop said:

Looking at the sales history you seem to be very overpriced to me, what has changed with the house for the increase in value since 2017 for example? Remember that interest rates were extremely low back then, now they are much higher and mortgage rates are moving up as well. Are you using PropertyLog or similar to compare with other sellers in the area?

Is there a single property on the market Crashy that you don't believe to be overpriced?

bobster2

For once I think Crashy is onto something with this particular property.

It appears to have sold in Q3 2017 for £255,000. Nationwide house price index would put it now at £295,986 - i.e. a 16.07% increase. OP has marketed at £475,000

It's a 2-bed terraced house. Other houses on that street that have sold for anything close to £475k recently seem to be 3-bed.

lisyloo

The patio would look loads better with a clean. It's hard work with a pressure washer but there's people who'd do a professional job with an industrial machine for a few hundred.

Personally I don't think that many people will be looking at this time of year. It's that time when you plan parties, order a turkey, order presents, write cards, wrap up, start soaking your cake etc.

RAS

Very confused as to which house is being sold? As there appears to be no clear boundaries at the front or back of the house? And the plan doesn't match with the apparent external view?

So unclear as to what the offer is that I can't see anyone viewing until that's sorted.

our_des

Is it possible to rearrange some of the downstairs furniture? The wardrobe in the living area is a little unusual, even if its to store kids toys, it's taking up a fair bit of space.

If I was looking near you, the lack of a fence would put me right off. Is there a reason there's no fence?

Albermarle

OP 
You should note the advice at the top of the forum, although many people ignore it.

Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. 

75M2 is not a big space , even for a two bedroom house. 
Probably some potential buyers would be hoping it would have an extension already at that price, as building extensions has got expensive.