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?!

Theres lots of places in the country where housing is affordable certainly. I dont know about 'improvement'. There are lots of places where a couple both earning NMW can afford a small 3 bed fairly easily.

That may or may not be the case but you have ignored my 'average' comment and my question.

Many who piled in in recent years on cheap fixes are gong to be in difficulty.

https://www.fxstreet.com/analysis/uk-30-year-gilts-hit-578-the-highest-since-1998-what-is-being-priced-in-202605051937

Hello @Housesellinghelphave things improved? Our national agent has told us things are very slow with more people wishing to sell than proceedable purchasers. We've decided to give it until the summer then remove our home from sale and make some adjustments for my disability. I'm not prepared to live in a house of lesser quality just to downsize. They cost the same anyway!

Thats a bit scary, Gilt yields could go even higher than that forecast if we end up with government infighting - which now looks almost certain.
People often miss the direct relationship between government borrowing costs and interest rates on mortgages. Reading between the lines it looks likley that mortguages will be a full 1% higher than they are now by then end of the year - at best !
There really is "trouble at Mill" for home prices and selling if you have a large amount of borrowing. The good news though is once it settles out more younger people will be able to buy which is fantastic. High house prices only really benefit the Banks anyway. Society and the economy just suffer from less money flow.

Yes, things look like they are going to get very tough for sellers, but as you say high prices really only benefit money lenders.