How is the property market near you

[Emma8181]

We have had ours on since end of Feb, plenty of viewings but no real offers. It is quite a unique house so nothing really to compare it too, the agents we are using said the price is very competitive but the market is very slow due to brexit and uncertainty. Not sure what to do as we need to move for work but things are taking ages. Perhaps the agents aren't doing their job, I'm not sure.

Think the issue is people are nervous at the moment, it might be worth waiting for six months till things are sorted out and clearer in the economy and trying again which would be a hassle for work but perhaps possible. We have three viewing this weekend so you never know though.

There is a lot of competition on - shit loads of big, nice houses on around the £1.2m mark in catchment for Cranbrook school. Basically viewers are spoiled for choice...

I fear the agents are telling you what you want to hear.

The unfortunate reality is that the price is not "very competitive" if the offers you are receiving are just over £1m.

Prices are a little softer at the moment, Brexit being one of several factors as the cause.

After 5 months on the market covering what is traditionally the busiest part of the year. You have 2 options, either accept that your house isn't worth what you think it is or take it off and try again next year and home to have better luck.

There is another oast house on for £1.25. This one is maybe nicer decorated, better outside space and has a separate annex building.

However there is a anoter oast house for 1.25 which has a much worse decoration and layout to you, and isn't in cranbrook catcment. But is has really massive grounds and is near a train station.

And another oast house by a lake for 1.25 - not as nicely decorated but has many outbuildings.

But basically, lots of oast houses!

*hope to have better luck, not home!

Sorry if that sounds a bit harsh. But things are selling, you've just got to price accurately.

How is Cranbrook catchment a big deal? You need to do well in the 11+ to get in anyway. Otherwise, you end up inva dire comp.

Well, it is a good thing to be in catchment for if you already know you want to live in Kent and that general Cranbrook area.

I'm almost certain that most people with £1.2m to spend can produce offspring with enough brains (and have enough cash for tutoring) such that the 11+ isn't going to be an issue.

SE London here. Just sold our one bed flat in a good location but it took 3 months and we sold it for £7k under AP.

Viewings were few and far between but we went with an online agent which, whilst it ended in a sale and saving of over £3500 on commission, meant that no one was promoting our property which I think affected viewing amounts massively.

And wow- love your property OP! Don't need to change a thing!

@Emma8181, amazing property.

I'm a property investor and would consider buying it but I have a few other projects on at the moment.

But really special property!

I live in the south east, market seems to be flooded, not much going under offer, lots of vendors reducing prices. Uncertain times.

The south east covers seven different counties and will have vastly different property markets within its area. The market for flats compared to houses can be quite different within the same town, let alone across an entire region.

I know your house. I use that road every day. Your house is worth what you are asking. But the market for houses in that price bracket is very very slow at the moment. The only thing I would consider would be to use a more local agent. We used harpers and hurlingham in Cranbrook and found them very proactive. Good luck. It's a beautiful house.

Anything under 250k is selling but selling slowly!! And I mean slowly average house is on the market for 6/9 months.

Lots of houses with stupid asking prices 🤷‍♀️ Lots of price reductions. Still no real selling.

250k to 500k even slower than under 250k and anything above 500k all seems dead.

We sold ours in under 24 hours before it hit Rightmove but it was only on for £325. We bought at ~£500k and houses are selling in around 2-4 weeks in that price range as long as they’re “worth it” (a couple clearly overpriced have been on for months). We are in High Wycombe area.

My in laws who live in Marlow, Bucks put their house on for similar to your price and reduced twice but couldn’t sell for love nor money. All their competition houses seem to still be on market months later. I think it’s just that end of the market.

If people aren’t relocating, first time buyers, or downsizing - and are spending a chunk of capital - then the economic uncertainties will make them nervous.

I think your house is beautiful. I’d like better photos of the garden (looks like you have water there?!) though.

Also I think the photos are jumbled. I don’t get a good sense of the flow of the house from jumping about from dining room, reception rooms, back to dining room/kitchen, bedrooms, garden then back inside for bathroom?!

The best photo reels I’ve seen give you a sense of layout without looking at the floor plan.

Your main competition house is a monstrosity too big for its plot IMO. Blergh. But it does have another bedroom and I think the photos are slightly better.

I think I’d get a interior designer in and get it styled. It could look more aspirational. It shouldn’t matter, but I find buyers can’t see beyond the current presentation, which I think is a bit bland (real, but not aspirational)

Oh and the market here is slow. We got knocked down by £140k on our sale and knocked £270k off what we bought. We are in the same price bracket as you.

I am in the South East, seems like houses come on the market one day and are sold within a week. We are looking for property but everytime we like one and go to view, there is always some sort of offer in place

Its a lovely house - if you have already received some offers have you tried getting them to go up a bit? In this market i think you have to be prepared to drop a bit more than you otherwise would. If we brexit with no deal it could have a negative effect on a number of things including the housing market - i think you should try and work with the offers you have now. If you decide to wait the only thing i would change are the bright green and pink carpets in the childrens bedroom to sonething more neutral. Good luck.

@Jojo you don't need to do well in 11+ to get a place at Cranbrook - look at their website, just over a basic pass is all that's required for last three years, nothing like Judd, TGS etc...

We are in a desirable south east market town. We had 20 viewings booked in for the day it went on the market, 5 offers and agreed a price for £10K over the asking price. It was priced to sell. We didn't do anything to try and appeal to buyers. The price was the key in getting a buyer so quickly and the fact that is a house that would appeal to first time buyers. The lower end of the market is moving here but the next step up is dead

Absolutely stagnant. House prices have rocketed but nothing is selling. Go figure 🤷🏻‍♀️

@KarmaKhameleon I can see it isn’t as selective as some schools but you still need to pass the exam to get in. Should anything go wrong on exam date, you end up at a school with a failed Ofsted, very very poor progress and GCSE pass rate of 14%.
So not a great place to live unless you can afford private (often an option for owners of 1.2M homes).

little on the market but when they come on they sell very quickly. Yorkshire.