What’s wrong with this property

MeteredOut

brown_crow said:

ReadySteadyPop said:

Even in London, car-free properties significantly reduce liquidity.

For example, this property: rightmove.co.uk/properties/152718605

It’s been on the market for almost a year, and I believe that’s because it’s car-free. The quality of the new build is not bad — it has a decent garden (by London standards), a heat pump, and, compared to other properties in the area, the price is reasonable.

 

When you look at picture 11 and then think about the price tag the first thing that comes to mind is "No", just no.

Yeah, it's quite painful but median price for semi-detached is £1M / terraced £860k in this area, I don't think that price is a reason why it's so long on market

Without wishing too sound like RSP, price is a always a reason why a house is long on a market. There are usually other reasons that make it less desirable at that price (and these are the ones RSP often does not see), but make it cheap enough, it will sell.

brown_crow

MeteredOut said:

brown_crow said:

ReadySteadyPop said:

Even in London, car-free properties significantly reduce liquidity.

For example, this property: rightmove.co.uk/properties/152718605

It’s been on the market for almost a year, and I believe that’s because it’s car-free. The quality of the new build is not bad — it has a decent garden (by London standards), a heat pump, and, compared to other properties in the area, the price is reasonable.

 

When you look at picture 11 and then think about the price tag the first thing that comes to mind is "No", just no.

Yeah, it's quite painful but median price for semi-detached is £1M / terraced £860k in this area, I don't think that price is a reason why it's so long on market

Without wishing too sound like RSP, price is a always a reason why a house is long on a market. There are usually other reasons that make it less desirable at that price (and these are the ones RSP often does not see), but make it cheap enough, it will sell.

Sure, if price will be £350k it will be sold next day, but I think the question was how parking-free restrictions is impacting property price

Yorkie1

Could also be something to do with the Noise Level being really high.

ReadySteadyPop

Ybe said:

https://www.rightmove.co.uk/properties/160803176

Why has this property gone from £410k in March to £395k in April to £380k now with the EA claiming mass interest since it dropped to 380k? The identical layout and size property above sold for £358k and that’s an open market one. This is ex-SO being sold back to back staircasing. 

365k now ?

ReadySteadyPop

brown_crow said:

MeteredOut said:

brown_crow said:

ReadySteadyPop said:

Even in London, car-free properties significantly reduce liquidity.

For example, this property: rightmove.co.uk/properties/152718605

It’s been on the market for almost a year, and I believe that’s because it’s car-free. The quality of the new build is not bad — it has a decent garden (by London standards), a heat pump, and, compared to other properties in the area, the price is reasonable.

 

When you look at picture 11 and then think about the price tag the first thing that comes to mind is "No", just no.

Yeah, it's quite painful but median price for semi-detached is £1M / terraced £860k in this area, I don't think that price is a reason why it's so long on market

Without wishing too sound like RSP, price is a always a reason why a house is long on a market. There are usually other reasons that make it less desirable at that price (and these are the ones RSP often does not see), but make it cheap enough, it will sell.

Sure, if price will be £350k it will be sold next day, but I think the question was how parking-free restrictions is impacting property price

In this case I`m not sure that would happen.

ReadySteadyPop

Yorkie1 said:

Could also be something to do with the Noise Level being really high.

That would be many areas in London though, probably not the main issues here, and the noise is probably a lot less from inside the flat.