Housing market

[Blackheathseller]

Hi, I have had my property on the market for couple of months. Have not had any viewings which I think is unusual. Winkworth are saying that they are pushing it. I think I will take it off the market now and re try in spring. Or should I aim around Xmas with another agency? Is it just the way the market is because of the forthcoming budget? Will be grateful for any advice/views. Thank you

https://www.rightmove.co.uk/properties/166073381#/?channel=RES_BUY

We have a two bed flat in Forest Hill is private balcony, garage, parking space, loads of built in storage and large communal garden. I think prices for two beds like these ATM are £375k - £400k. Yes Forest Hill is not as fancy as Blackheath but it is a lot better connected and more attractive to younger people.

@Blackheathseller just for some comparison, a 1 bed ex LA in a similar style of block sold at the start of the year for £250,000
Leasehold, but far better connected transport wise.
SE18 so not too far from you.

Also frankly Blackheath is a bit boring. It's all chains and and fairly staid shops. Not really attractive for younger buyers.

Where actually is it? Shooters Hill Road is very long! And the little map doesn't even have the house on Shooters Hill Rd

The building is beautiful but unfortunately the interior doesn’t have any of that original charm. So I think if you were initially after a period property (and it’s advertised as one, not falsely but you know what I mean) you’d be disappointed with the rest of the photos and would click away.

A couple of months. We're into our second year. We had a single derisory offer which DH said he felt insulted by. Ive suggested we drop the price but if we did this he wouldn't be able to buy the house he has hid heart set on.

I've suggested going to look a cheaper properties so we could drop the price to a more affordable one.

I paid that 10 years ago not far from the OP!

It’s a lovely looking building from the outside. Your kitchen and bathroom are pretty blank slates so nothing offensive to live with there while they change things to their taste.

I definitely don’t have 400k to spend on a flat and my expertise is based solely on looking through Right Move deciding which flat I’ll buy when I win the lottery (Shad Thames penthouse) but if I did, I think I might skip past this one. I thought the windows looked really small. Obviously that comes with the building, but I don’t think you’re making the most of any natural light by having the blinds down in the photos. There doesn’t look like there’s much storage and I’m struggling to envision where any storage units would go. And because the furniture isn’t arranged to show off the room, some bits look a bit awkward and like they have been just dumped there, with bits sticking out past end walls. I’d wonder whether it would be a pain to fit my furniture in and have it looking nice.

That curved wall is a really interesting feature but because there’s nothing there, it looks like it would just be a wasted space. I think you need to rearrange your furniture to show what the room could be. Maybe put a mirror or a couple of pictures up. Some cushions on the sofa. Make it look like someone enjoys living there.

And either get rid of that single bed or cover it up with a big throw and lots of cushions.

At the moment, you’re asking luxury prices but you’re showing photos of somewhere that is looking a bit like a vacant property being used as storage facility. And when your competition is enticing viewers into their flats, you need to match that.

You can’t change the location or the public transport links. I quite like Blackheath - good for the City, decent trains into Central London. Where else in SE London has as many green spaces and better transport?

But when I looked at the ad I thought it was a studio flat. Just one large room. Had to go back and forth between the pictures and the floor plan and still found it hard to work out. But it has been a long day.
Maybe make the room division clearer?

I guess your problem is that everything is on hold as people wait for the budget. What will happen to stamp duty? Property taxes? Is your one bed in Blackheath going to be hit by the Mansion Tax???? And then there will be Christmas and nobody will be buying.

I thought it was a studio flat because of the bed in the living room. It needs better staging and new pictures.

It's not just the price, it's the complete and utter uncertainty the Reeves has created. People cannot slash tens of thousands off the price unless everyone does.

People literally have no idea what she is going to come up with next - no one wants to pay a huge whack of stamp duty now and then find out their council tax has doubled and they might have to pay some sort of other tax on the new property based on its value. The wretched woman has caused the housing market to slow to a near halt.

The housing market always slows before the bidget, it's not just a Labour government thing. However there are a lot of flat owners in Londom who need to understand prices have not risen in the way they expected them to over the last few years.

Your property is only worth what the market is willig to pay and the market is not willing to pay what the OP wants for her boring and badly staged flat.

People literally have no idea what she is going to come up with next - no one wants to pay a huge whack of stamp duty now and then find out their council tax has doubled and they might have to pay some sort of other tax on the new property based on its value

That isn't going to happen.

The wretched woman has caused the housing market to slow to a near halt.

The market in many areas has been slowing for years largely because it's unaffordable...

When wages have stagnated for nearly 2 decades what fuels the housing market? So much of it has been based on equity gains but the lower rungs cannot keep increasing in value with higher incomes.

It looked like a studio apartment to me when I scrolled through, then I realised it was two rooms set up as bed sits, with seperate kitchen.

I think you need to decide to lean into presenting it as a one bed flat, with large bedroom and living room, or try for the landlord market and go for 2 double bed room unit with shared kitchen and bathroom.

Might get some viewers in, though as PPs have said, price is what it comes down to.

Looks like its just past Sun in the Sands near Kidbrooke Park Rd and onto Blackheath.

because you have beds and other furniture in both rooms it's giving off bedsit vibes.

Open the blinds!!

Thanks everyone, all points taken. I was disappointed in the photos though winkworth were confident it looked professional. It is a pretty good size 1 bed with plenty of storage. I totally agree none of that comes through and it comes across as a bedsit. The windows are good size, not too small and you get reasonable light esp in the bedroom. In response to one of the above questions it’s in the corner of Kidbrooke park road and Shooter’s Hill road. Will get it off the market, re present it properly in spring probably with another agent as I am slightly disappointed that they haven’t even managed to get any viewings. Thanks again, happy to listen to further suggestions

You need to put a double bed in the bedroom so people can see that one fits. I mean it is obvious one does but it seems odd at the moment with a single bed and sofa thing. Also it looks like there is a built in cupboard in the plan. Make sure there is a photo of that.

OR

Clear out all the crappy furniture and paint it a warm white.

I assume you have been letting it as bedsits - which is why it is giving off low cost student accomodation vibes.

It was rather bland.

Having sold and a refurbished a few period properties not too far away from you, buyers of period properties like period features and colours. Having flicked through quickly it has very little internal character to make it stand out or to take advantage of it's period exterior. What is going to make a buyer fall in love with your flat?