AIBU to wonder why our fairly priced new-build house is not selling?

I don't think adding the garage to the area of the property makes much difference!

I think it means the size of the market rather than the prices.

Just not a good time to be selling, unfortunately. Most people don't feel secure enough about the future to commit to major purchases.

How can the market be down by 80%?
That a would mean a one million pound house would be priced at only £200,000! A property previously worth £250,000 would now be priced at £50,000!
I can't imagine that there's anywhere in the whole of the UK where prices have dropped by 80%.

This thread is crazy without a link to the listing. You will get suggestions for improvements or explanations of problem areas. You could have named changed if were worried…

The market is terrible. We would really like to sell our house but we aren’t even going to try in the current climate.

Pointless thread then 🙄

We are in the same position, only had 2 viewers in 9 weeks. We’re now part exchanging ours for a new build. We’re lucky that we don’t require a mortgage. The only reason we’re moving is to be nearer our dd and dgs. We child mind for him and it took me a hour to take him home and 2 and a half hours to get back home last week. I was shattered tbh.

I've no experience of selling or buying a new build as we prefer character houses, but when we sold a six bed detached in 2007 and a five bed attached in 2014, the pool of buyers was noticeably smaller than when we sold smaller houses. Admittedly these were both considerably larger than the one you're selling @Housesellinghelp (3500 sq ft and 2500 sq ft respectively), but our EAs both warned us to expect fewer viewings as there are a lot less people out there looking for larger houses, the average buyer wanting a three bed.

Both times we attracted a small number of viewers (between five and eight) but sold fairly quickly because we priced extremely realistically. The first house was initially over-valued (by 100k) by the EA that sold the 'naicest' houses locally. We changed agents, dropped the price by 100k and accepted an asking price offer within five weeks. The other house went under offer (asking price again) within a month, although tbf, I always felt we priced that one too low as we'd found our (unique) onward purchase and didn't want to lose it!

What with the war, I'm not surprised higher priced property is sticking. There are lots near us (south coast) at £1m+ that have hung around for ages, but there's been a few (two and three bed cottages) come on in the 350-450k price point in the last month that have gone under offer in a couple of weeks or less.

However, if you want meaningful suggestions regarding your specific property, the best way is to post a link.

This too. 1700 sq ft doesn't sound huge.

Tbh 1700 sq ft isn't very big. For 4 bedrooms and 3 or 4 bathrooms and living space. Its approx 165sqm.

That price for a 4 bed house sounds a lot. I live in a 'naice' area, and a 4 bed would be £500K tops, and it's middle class and rural, so yours sounds a lot to me. But I don't know where you live.

It is always price though, as is often said on here.

HS2 will probably be having a bit of an impact. One of the reasons we decided against this area.

My experience of living in period properties and new builds has taught me that new builds are more difficult to shift. They’re ten a penny. No offence meant, as I love them!
Even here in Edinburgh, where the market is booming, my new-build was relatively difficult to sell. People weren’t that interested and we sold at a big loss. My current Georgian flat will sell no bother at all, even if it can be problematic!
Mind you, its location is fantastic.

There might be nothing wrong with it. Market is slow and sales are not hallenning and £675 is a lot of money to spend.

Review the market. Look at similar properties for sale and recently sold. Are they also slow to sell? Estate agent ought to be able to know this already.

The market where we live is terrible - there's a gorgeous house round the corner that's been up for 8 months and reduced twice, two years ago it would have sold in a matter of weeks.

We'd like to move but not confident we could sell ours in this market and the next step up houses (£600k+) just seem like it would be a real squeeze with increasing mortgage costs, fuel costs, heating bills, food costs plus add in going up one or two council tax bands. We're out of the nursery years but still have wraparound and holiday club childcare to pay for and it would be tight.

To be fair and just wanted to go against the grain here… we sold a 3 bed new build after 18 months due to break up. It sold for more than what we thought it for. So it’s not always the case that new builds depreciate quickly. I think the current market is v much impacted by current mortgage rates and cost of living, that’s my punt. Also I think 4-5 beds are less in demand than a 3 bed. I’ve been told 3 beds are the most in demand.

Stuff is moving in my area OP. I recently sold to the second viewer within a week or so of going on the market. You do have to be realistic with price but that doesn’t mean taking a 20% bloodbath. I have seen posts on here of people expecting to get £50k off a house priced at £250k.

For people with a deposit saved and a mortgage arranged right now could be a great time to buy. Our current house we bought in the stagnation years following 2008. That turned into a sound investment although the media and forums were full of how terrible it was and a correction was coming. Unless banks start repossessing I don’t see that is likely. Prices may stop going up, but significant and long term decline is unlikely. Obviously there will be winners and losers but if the house you want to move to is out of reach if you discount your house too much then you are just not going to move.

Your property is what someone will pay for it. Not what someone else values it at and who has a vested interest in selling it for you.
The market is changing. It is not a sellers market. But becoming a buyers one.
My area over values their properties all round. Woefully overpriced houses go up for sale. And stay there.

People earn so much, mortgages are going to increase along with all manner of other costs. Not enough people have the cash, or if they do will be very picky about where they go.
New builds do not have a a good reputation either. Which will not help you. People will wonder why you want to move. Five years in a large house may not seem very long.

I know the area slightly as I live in south Birmingham and have family there.

Unfortunately in 2021, it would have been peaking as it would be seen as commuter to Birmingham. But with hybrid shifting slightly more office-based, that's much more of a commute now.

Plus WFH has now shifted the goalposts of WHAT is wanted in a house. I hate the newbuild open plan/big lounge thing - an office is what I need, not four bathrooms. And as PP said, with a double garage, a lot of that 1700ft is not living space.

The four bed I'm looking for has a regular garage, three big doubles (single is fine for fourth) and a utility, kitchen diner, lounge and office downstairs.

I wouldn't sacrifice space and proximity to work for a "naive" area and a "large" newbuild that has already been grown out of.

Ok well Ive searched that area and there are masses of 4 beds , actual new builds with all the bells and whistles in the region of 620/ 630 .
Brand new house, can choose your flooring,kitchen,bathrooms and offering to buy your current property as part of the deal

It's the market and the price OP, if someone wanted to buy it then they would.
Also not a 'new' house or an older property with character, tricky.

The market is poor and new builds are dreadful.