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Original poster

Is the London market dipping or is my house overpriced?

94 replies

Linkee · 09/05/2017 20:48

Our house went on the market 2 weeks ago, 12ish viewings but no offers. The feedback from the agent seems really vague...the house is small apparently, but its identical to all the stock around here and finished nicely.

We have previously sold a house in a similar area last year and and 5 offers on the first day!

OP posts:
sunnysouthend · 09/05/2017 20:52

This reply has been deleted

Message withdrawn at poster's request.

mustiwearabra · 09/05/2017 20:53

It's quite hard to advise without a bit more info OP. How much have other properties gone for and how much is yours on sale for? How many bedrooms? Energy rating? Roughly which area are you in?

bibbitybobbityyhat · 09/05/2017 20:56

What price was paid for the most similar house to yours sold in your street or those immediately neighbouring in the past 6 months?

Original poster
Linkee · 09/05/2017 20:57

It's not in a particularly desirable area, but apparently to London growth stats Barking and Dagenham was the fastest growing last year.

I have compared it to most of the houses around on the market and it seems to sit in the middle at £450 for this kind of stock (3 bed, 0.2 from tube and mainline station with garage and off street parking) so i'm not sure.

I realise 2 weeks isn't a lot in non London terms but more wondering if it is a long time for London..

OP posts:
Original poster
Linkee · 09/05/2017 20:59

A house on the road perpendicular has has offers of £430 apparently but the vendor is holding out for more. One opposite us sold in December for £415 but needed complete renovation, whilst ours is recently decorated and well kept (imho).

OP posts:
mustiwearabra · 09/05/2017 21:01

It could very well just be a case of staging. Have you pared down nick nacks, kept the place spotless for viewings etc? I'm assuming you have, just trying to help.

Original poster
Linkee · 09/05/2017 21:06

I have blitzed the house like a loon before every viewing and have shown 5 times in the two weeks. I asked the agent if there was anything I should change/take out some furniture and he said it was fine.

When we brought it we were moving from a flat, I was wowed at how much space it had so am surprised that the feedback is that it is small, but it's all relative i guess!

OP posts:
sunnysouthend · 09/05/2017 21:10

This reply has been deleted

Message withdrawn at poster's request.

wowfudge · 09/05/2017 21:13

Are you putting people off when you show them round?! Viewers aren't as honest with their feedback when they've been shown round by the owners as they are with the estate agent.

Original poster
Linkee · 09/05/2017 21:21

It is in the catchment for 5 'good' schools- the first time i've looked!

The house is 1930's with lots of period features in it and about 800 sq ft internally, the area it is in is very pretty.

We aren't desperate to sell as have no where to go yet but we are going in to rented once it sells so it would be end of chain.

Wowfudge we leave the showing around the the agent as I hate it when the vendors show the house! Agent is a bit vague with the feedback but that seems to be the main thing.

OP posts:
Kokusai · 09/05/2017 21:23

2 weeks isn't that long even in london. Link?

Maybe he staging is making it seem small?

wowfudge · 09/05/2017 21:25

Sorry OP - your post made it sound as though you had done the viewings! Really difficult to comment any further without seeing the house and being able to compare it with others on the market.

Traditionally the market slows when an election is called so that may be a factor.

MovingtoParadise · 09/05/2017 21:28

Are you sure about the square footage - I've not seen a 30's house under 1000 square feet. Confused

I think prices are softening and are jittery. I'm over the river from you and flats about 800 square feet have been reduced in the last couple of weeks or are sticking. Which is really weird as so little is coming on the market. 4 flats near me have dropped about 20k. They were about 530-550. The ones at 600-800 even though it's a different bracket are sticking. I'm in Blackheath/Greenwich.

bibbitybobbityyhat · 09/05/2017 21:31

In the catchment of 5 good schools in London?? No way!

Original poster
Linkee · 09/05/2017 21:32

Whoops! Its actually 1100 sq ft

OP posts:
bibbitybobbityyhat · 09/05/2017 21:33

Sorry, I'm now completely confused. Are you in Barking & Dagenham, or are you in London?

Original poster
Linkee · 09/05/2017 21:36

Well the London Borough of Barking and Dagenham at least.

Here it is below, any thoughts very welcome!

Clicky

OP posts:
Kokusai · 09/05/2017 21:36

I was going to say that 800 was seriously small for a 3 bed!

1100 more typical :-)

Kokusai · 09/05/2017 21:38

The conservatory would stop me from viewing - I looked for houses that had already had a proper extension, or they hadn't. I really didn't like the lean to/conservatory addition that is v common around east london. Sorry.

Faithless12 · 09/05/2017 21:39

Really bibbity? We are in the catchment of quite a few good and outstanding schools. At last count over five not including the two new schools that haven't had OFSTED yet, or at least haven't been published.

eerry · 09/05/2017 21:39

Don't know the area at all but house is very nice.

Kokusai · 09/05/2017 21:39

But apart from that it looks lovely and v good to have the parking

bibbitybobbityyhat · 09/05/2017 21:41

Goodness Faithless. Genuinely surprised. And yet you hear in my own and neighbouring London boroughs that there are not enough primary places to go round. Let alone in good or outstanding schools.

lonelysaddo · 09/05/2017 21:42

Oohhh I think it's lovely! Though it would go for around 150k where am
I Confused thank god I don't live in London. Hope it sells for you soon

MovingtoParadise · 09/05/2017 21:43

Lovely house SmileTotally normal for the area.

What would put me off is that it needs a new kitchen and bathroom. So unless it was actually worth £500k done up then I wouldn't buy it. It's horribly expensive to get work done in London (I know, I've just done it Grin)

If it's worth 500 done up then there's nothing wrong with imo. Why are you moving?

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