Viewings fallen off, should I change estate agents?

Herzlos

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

crow22 said:

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

No mystery really, mortgage debt is much more pricey than it used to be, and look at SKY news today on the drop in numbers coming into the country, that all feeds into sentiment and demand.

https://propertyindustryeye.com/mortgage-rates-set-to-creep-up-after-surprise-jump-in-uk-inflation/

Can you link to the Sky news article you mention?

Just look it up or switch on SKY, it is a main headline.

I don't see it on the website. Partially because I'm not sure what you're even talking about.
You mentioned it, why can't you cite it?

Albermarle

Herzlos said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

crow22 said:

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

No mystery really, mortgage debt is much more pricey than it used to be, and look at SKY news today on the drop in numbers coming into the country, that all feeds into sentiment and demand.

https://propertyindustryeye.com/mortgage-rates-set-to-creep-up-after-surprise-jump-in-uk-inflation/

Can you link to the Sky news article you mention?

Just look it up or switch on SKY, it is a main headline.

I don't see it on the website. Partially because I'm not sure what you're even talking about.
You mentioned it, why can't you cite it?

I think it refers to the large drop in net migration in 2024 compared to 2023. The numbers were published today.
However it was still quite a significant number , so I presume it will still be putting some pressure on the housing market.

donutandbeer

crow22 said:

caprikid1 said:

1 year on the market is a very long time for most markets, something must be wrong.

Forget the price others are on the market at, what are the sold prices of similar properties.

Link ?

How do I find that out?

I use rightmove but I’m sure there are other websites with similar functions. Go to “House prices” then “Sold house prices”. Then you put in your street name / postcode. These are actual sold prices. It usually takes about 6 months after a house is completed for the record to be updated. 

ReadySteadyPop

Albermarle said:

Herzlos said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

crow22 said:

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

No mystery really, mortgage debt is much more pricey than it used to be, and look at SKY news today on the drop in numbers coming into the country, that all feeds into sentiment and demand.

https://propertyindustryeye.com/mortgage-rates-set-to-creep-up-after-surprise-jump-in-uk-inflation/

Can you link to the Sky news article you mention?

Just look it up or switch on SKY, it is a main headline.

I don't see it on the website. Partially because I'm not sure what you're even talking about.
You mentioned it, why can't you cite it?

I think it refers to the large drop in net migration in 2024 compared to 2023. The numbers were published today.
However it was still quite a significant number , so I presume it will still be putting some pressure on the housing market.

HMO landlords will probably feel the pressure first.

RHemmings

donutandbeer said:

crow22 said:

caprikid1 said:

1 year on the market is a very long time for most markets, something must be wrong.

Forget the price others are on the market at, what are the sold prices of similar properties.

Link ?

How do I find that out?

I use rightmove but I’m sure there are other websites with similar functions. Go to “House prices” then “Sold house prices”. Then you put in your street name / postcode. These are actual sold prices. It usually takes about 6 months after a house is completed for the record to be updated. 

Zoopla is a good source of house prices too. Go to this link: https://www.zoopla.co.uk/house-prices/  and then click on 'Area Search'. Put in a postcode, a city, etc. 

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

crow22 said:

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

No mystery really, mortgage debt is much more pricey than it used to be, and look at SKY news today on the drop in numbers coming into the country, that all feeds into sentiment and demand.

https://propertyindustryeye.com/mortgage-rates-set-to-creep-up-after-surprise-jump-in-uk-inflation/

Can you link to the Sky news article you mention?

Just look it up or switch on SKY, it is a main headline.

I don't see it on the website. Partially because I'm not sure what you're even talking about.
You mentioned it, why can't you cite it?

GB news were all over it earlier, it does seem like a very large drop in potential workers/renters/house buyers.

Martico

In that case their understanding of data is as poor as yours. Net migration is still positive, to the tune of 400,000-odd in 12 months. This is like someone claiming that prices are falling when inflation dips from 4% to 2%

newsgroupmonkey_

ReadySteadyPop said:

Dustyevsky said:

ButterCheese said:

Once the agents have done the work with pictures, advertising it online, they aren't losing out by waiting for "full price", but are reluctant to reduce it because they get a smaller payout when it sells

I disagree. A proactive agent won't want stale property sitting on their books for ages. Some people notice!  We have a local agent near us who prices high to get custom, and then reduces slowly. Clued-up people, including me, wouldn't use her.

The difference in what the agent receives from a somewhat overpriced sale and a more realistic price is marginal, and that's assuming someone buys above market. How many actually do that? Someone might to get the 'massive' garden in this case, but for many, an abnormally large non-developable plot, needing upkeep , is a potential turn-off.

Very few I would guess.

In the same way that few people use the "tools" you mentioned.

Most of the people I know who use them are either in the industry or are looking to buy multiple properties.

Few "Regular" buyers use them.

newsgroupmonkey_

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

crow22 said:

Listing price isn't the sale price though. People will view a nice house that's priced a bit high and bid lower.
People won't go and view house with a bad listing, or via an estate agent that's hard to work with.

Yes thats my previous experience so its a bit of a mystery why viewings have fallen off. I dont think we will change EA, they are a good local established firm and we have a good relationship with them. The house is also not over priced, in fact its a bit low compared to comparable properties in the area but thats because it need some modernising inside. I do wonder though if people are not seeing the listing because its been on the market for a while and slipped down the list? I did a search on Rightmove last night and ours was way down at the bottom of the last page of six.

No mystery really, mortgage debt is much more pricey than it used to be, and look at SKY news today on the drop in numbers coming into the country, that all feeds into sentiment and demand.

https://propertyindustryeye.com/mortgage-rates-set-to-creep-up-after-surprise-jump-in-uk-inflation/

Can you link to the Sky news article you mention?

Just look it up or switch on SKY, it is a main headline.

I don't see it on the website. Partially because I'm not sure what you're even talking about.
You mentioned it, why can't you cite it?

GB news were all over it earlier, it does seem like a very large drop in potential workers/renters/house buyers.

As Martico has pointed out, a net 400,000 people came to live here that didn't live here last year.

That's another 400,000 people that need to find accommodation.
Let me know when net immigration goes into a minus figure. I don't see that happening in my lifetime.

swingaloo

Are your photos good? Ive noticed when looking on Rightmove that some houses nearby actually have 2 agents advertising them and so 2 different sets of photos. One house for sale at the moment has the front of the house as the main photo with an agent, the other agent has the kitchen as the main photo. 
I would always look at the front of the house first and if Im put off by the front I wont bother to look at the inside photos. 
First impressions and all that.