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

I think the markets not great. Our neighbours took over a year to sell, normal 3 bed semi they used to go quickly. Mortgage rates are high, cost of living high. People waiting to see if rates go down. I'd like to move but will wait a couple of years, rather be safe in a low mortgage at the moment.

New builds are ten a penny now. If i wanted a new build, i would be buying a completely new house, not one that's 5 years old. Often new builds come with lots of deals like deposit schemes. You can pick your own kitcheb/bathroom in most. Perhaps people want to make the most of these deals and perks, which arent available with a 5 year old house.

Also... would you really want to sell/buy right now. Interest rates have gone insane. I think people are battening down the hatches. Someone who could comfortably afford your home in January, because of interest rates are completely priced out of your bracket.

Plus I think theres a trend away from modern and back to farmhouse/cottage styles. The age of grey walls and white shiny kitchen cupboards are over and traditional/homely is "in"

Mine is three storeys but not all in one.sitting room, dinning room, kitchen, breakfast room and utility plus WC. Beds on Ist and second floor.
It's what the op wants but it's in Wiltshire not the Midlands sadly.
Last year letters through the door now low interest. No feedback other than worried about col.
I love my house and compared to a period property we have everything local but live in a AONB. I'm just too disabled to get up and down the stairs.
This thread has scared me a bit.

We have never in 15+ years of living here known homes in our village not selling and we currently have 3 on the market dropping prices.

It’s normally an absolute fight for this location and they are having to drop and still no viewings and offers, one has dropped from £950 to £825 in the last year and still nothing.

I just think what everyone has said interest rates, taxes and cost of living have frozen the housing market.

Why are you stalking looking?

I think that's a real possibility now. Its going to be a painful slow process though. It might take 2 years for prices to re-align with affordability. Only those that absolutely have to will buy or sell. That will eventually reset prices but not quickly.

The last time we moved, the estate agent told us (and I still cannot actually believe they openly told us this..) that they have a number of people on their books who will, and I quote, “go and view anything”, so that seller thinks that there is lots of interest in their home.

Quite why they told us about this slightly cruel tactic, is beyond me.

I wonder if the same thing might be happening to you?!

I appreciate that it is extremely frustrating if viewers are not giving any feedback!

I can't speak for others but I don't like new build houses. I especially don't like them after about 5 years when you typically start experiencing quite big issues.

I dont mind a kitchen/ dining room knock through but this vogue for sitting room / kitchen all in one is awful
Friend bought a 5 bed house, 3 storeys and the downstairs is all in one room.
Its like a holiday let

There isn’t one for sale within five miles of the border of Warks, so…

Exactly, use a mortgage calculator to see how much monthlies your target buyer can afford and price off that.

Why did they sell?

The market will be much better when house prices fall by a lot.

3 have sold in the last 2 months on our road, similar price to the OP’s house. Nobody needed to sell.

A house that been put up for sale twice in such a short time would ring alarm bells for me, especially if I knew the sellers had pulled out first time.

Is it being marketed with the same agent? Hmm maybe they’re telling people you’re not committed sellers and you pulled out previously.

The market is crap at the moment. We have 3 houses for sale in our road and none are selling. Usually, a house on our road gets snapped up.

Don't do that! EAs don't often give the best advice. What with rising heating costs, children doing homework, people wfh etc, open plan has gone a bit out of vogue.

I agree. However with my house I've been told by three agents to knock down the wall between the breakfast room and kitchen. Not cheap anymore and no quotes have come back.
We're hoping to sell but no luck so far.

Mortgages are several times more expensive than 5 years ago, so people can't afford to borrow as much as they could back then. You need to reduce the price. Presumably your next house will also be cheaper than it was 5 years ago so who cares?

If it's all open plan then it's not really much of a draw in the communal areas. We have separate kitchen and separate living room. I would hate an open plan area. I like shutting others off when I need peace .

This is all supposition, we've no idea really. Although the economy doesn't help.

Must be a "fleecehold" property with estate management charges. They are becoming really hard to sell unless very cheap. Of course that situation is about to get worse too with another round of cost of living increases and inflation. People just dont want them.

A lot of people are not thinking very much about finance IMO, their bank is just telling them they are not getting a mortgage for that amount anymore, end of story.

The OP isn’t inviting comment about her choice in purchasing a new build house. The purchase of anything is what appeals to individuals and people can prefer new houses or old houses. It depends on their taste in such things.

What she was asking for, is opinions as to why it isn’t selling and it’s clear that the reasons are that the market for that size of house is probably limited, people are thinking, not twice, but much more often, about what they want to do because of the current world situation, the cost of living, fuel prices, mortgage increases and general uncertainty.

I imagine someone will buy it OP, but probably not now and not for the price you’re asking.