My house (in an outer London borough) has been on the market for about 5 weeks. In that time we’ve had plenty of viewings, on average 4 a week - 21 in total to date. But no offers.
The feedback is pretty consistent, they love the house but hate the area. Which is fair enough, it’s a council estate and there is no hiding it. The price very much reflects the area. A few people are concerned about the lease length; it is short at 88 years but not worryingly so.
I don’t know what to do really. I am looking into extending the lease but this is a long and expensive process. I can’t do anything about the area.
The price seems right, it’s by far the cheapest 3 bed in miles; it’s slightly below what the last 3 bed in the area sold for (very similar flat sold for £305k a few months ago, ours is listed at £300k). I am considering reducing the price but surely, after 22 viewings someone would’ve come in with a ‘cheeky offer’ if it was that simple??