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

[Housesellinghelp]

We have a 5 year old ‘new build’ is a very mumsnet ‘naice’ area in the catchment area for some of the best state schools in the UK. A big 4 bed with four bathrooms, decorated very neutral and fairly high end - it’s definitely a nicer than usual new build. Garden isn’t overlooked, triple driveway, neighbours are staggered so not cramped. Three large doubles and a single bedroom (that could get in a double at a push).

We had our house valued by 3 separate agents. All valued the house between £675-£700k. We listed at £675 as we’d like a fairly fast sale. That was 8 weeks ago. 4 weeks ago we reduced to £649k as we’d had 8 viewings and no offers, and we’ve since had a further 2 viewings but that’s it.

I’ve looked at houses for sale in the area and also houses that have recently sold. We aren’t priced above what seems average. We had our house for sale a couple of years ago very briefly and received an offer for £690k but we changed our minds and pulled out of the sale.

The estate agents have no feedback for us either. They say nobody looks around and criticises anything. The only after viewing feedback we’ve had is that a couple of viewers wanted something a bit bigger/a 5 bed.

Any ideas as to why the house isn’t selling?!

What does Zoopla price it at. A starting point would be to take 5-10% off the Zoopla mid price and see if you are in line with that

My house is in a nicer area, has a double garage; is split across 2 floors and has two extra downstairs rooms! I think this may be quite a bit smaller than mine.

It sounds like TACO is in force now we'll see how much the war was affecting movement

Probably because it’s not “fairly priced” for your market. Estate agent numbers aren’t real. We put ours on at the price bang in the middle of the range indicated by 5 different agents. 18 months and 2 price drops later it sold for £200k less (and £100k less than the bottom of the range indicated).

OP has had feedback

If you are anywhere near Dorridge send me a link!! I am looking!

The people trying to find OP's house and dox her are dickheads and don't seem to have a very good grasp of geography.

Those bedrooms are small

you’re in a good position. Why don’t you just get your sold at say 600 and then reduce your offer on the next house up the chain accordingly?
You only lose if you’re downsizing, which you’re not. You’re in a good position to play the game.

Its really impossible to say without a link other than generally the market as it is currently

Here you go
It really is not a good time to be selling

Yay, lets start borrowing again! Has Iran actually said anything, or is it all coming from Trump? The way Sky and Bloomberg were cheerleading this was almost pathetic, so very obviously choreographed to try and get debt costs down.

Sorry, having a new-build doesn"t put you in a good position, new-build sales are down around 60% recently.

OP hasnt got a new build, thats the point

I presume the poster means she is in a good position because she has a good house at a good price to sell

How much are new builds in the area? Generally people who want a new build want a proper new build which hasn’t been lived in, people who don’t want a new build want something older than 5 years, so you’re not appealing to a huge chunk of the market

I think this is spot on.

The thread is titled "New-build"?

They are fairly normal room sizes for modern houses on new developments.

Yes, one of the reasons sales are down 60%, borrowing costs are obviously the more over-riding reason though.

Well yes and thats what she is calling it but doesnt necessarily chime with people who say they like new builds

But then Im a hypocrite because in my head I describe anything from the 80s onward as a 'new build'!! I hate modern looking houses.

I dont think they're small, they're akin to our 20s semi room sizes. Not large, not small.

I haven’t read the full thread but as someone currently looking for a house like yours, the 4th bed being a single would be a deal breaker for me. We have 3 kids and wouldn’t want one to end up in the tiny room whilst the other 2 got doubles.

I've been quite active on this thread as we're in the same position as the OP. Low interest. We have five doubles but the house has not sold even when it's priced the same as the four beds on our 18 year old development.I contacted my agent and she said it has been slow over Easter. Tellingly she told me not to change our kitchen whereas before she thought it would be worth it. Best competitively price and move on (we' re downsizing). £100k less than last year

Yes, we didn't have that scheme when we bought in 2008, we had to have a 10percent deposit after the market crash. I did have a friend who got a 100% mortgage a couple of years before and ended up in financial difficulties. Was that scheme only for new builds? My other half is a carpenter, he said he would never buy a new build as the build quality is poor and they are small.

Yes, sounds sensible to price competitively and sell asap if downsizing.