Any other sellers getting no viewings?

[sunhatfunhat]

House has been up since April, we had two viewings immediately and since then nothing. Both parties interested but waiting to sell their own properties, so no good to us right now. Have dropped the price this week... Still nothing.
Is anyone else finding it really slow? I want to drop the price again, DH against it.

The market has been awful for the past year, in most parts of the country. Did the estate agent not warn you?

This is the worst time in over a decade to sell.

We had five or six estate agents to the house before we chose one, none of them said anything about the market being bad 😥in fact all of them named the price we initially put it up at and said it would sell very quickly. I know that's typical estate agent talk, but we expected at least a regular viewing here and there.

Not a lot going on until after the general election.
My friend has had two viewings in two months. Beautiful cottage, good order, near to trains. Nothing. Mortgages are still high too.

We are having the same problem. Dropped the price last week and had 6 viewings suddenly and 3 more booked this week with one more wanting a second viewing but not until 13th after a work trip. This very much tells me our price was wildly wrong. Our house doesn't need any work doing and houses around us are selling so it really does come down to price. The estate agents can all think the same price but ultimately people will only offer what it's worth to them... if you're getting no offers at all then it's the price. If you're getting no viewings it's the price. If you're getting viewings but no offers it's the price.

I read the average amount of viewings before a house is offered on is 10. We've only just hit that number ourselves and as yet this week no offers. All positive feedback about the house but no offers yet.

Have you missed the whole interest rate crisis thing?

Also people do mention the election but from what I'm seeing around me it isn't stopping other properties selling...

It is hard to swallow when you have to lower your price as you do get excited when you're told a particular figure.

@Mrsredlipstick ”Mortgages are still high too.”
The new normal.

Property around here in the NW is still selling super fast if priced comparably to others on the market but there's also a core of older houses needing a lot of work that have been on RM for months at the same price as nicer properties without any reduction.

We have been on since April and had 13 viewers in that time but no offers. it’s rather disheartening but we haven’t found anywhere we are interested in so not really in a rush. Would love to sell just so I can stop cleaning 😁

Had the exact same experience, including same pricing from the various agents and reassurance that it’s a great property to sell, blah blah. Less than 3 weeks in we’d had 2 viewings and the agent was suggesting dropping the price.

No- going quickly here. Sold in a few days at asking (had 2 people want it and a 3rd not proceedable but went with strongest position rather that sealed bids)

One we are buying about 60 miles away had 2 people wanting it- so went fro asking as well.

Both a bit niche

Around here it seems to depend on the type of house- up to 340k ish selling super fast (ours took 4 days, our neighbours took 3)

350k-600k taking ages

Higher end houses still going fairly quickly

Yes - selling a relative's house (moved into care) so there's no chain - nice cottage in a lovely market town, pretty (manageable) garden, private parking, loads of character .... but only one viewing in a month.

@sunhatfunhat if you have only just reduced the price you need to give it time - a few weeks say - to see if that generates new interest.

Hopefully your EA will have advised you to reduce it by about 5% of the old purchase price

We have had our house on the market for 2 months now and only had 1 viewing. We have dropped the price by 5% and still nothing. Really want to sell as we have found the house we want to buy. But can't really afford to drop the price any further. Thought it would sell quickly as its a perfect first time buyer house, in really good condition and (we think) reasonably priced. It's tough!

We've been on the market for six weeks and zero viewings at all. We actually dropped the price by £25k last week but if we get no interest then I'm not going any lower.

We were lucky I guess.. our house went on in Jan and sold in 9 days for the full asking price. We’ve been in our new house for almost three weeks now. Having said that, a friend in a neighbouring village put theirs on during the same week and have has 4 viewings, but nothing more. Seems hit and miss depending on where you are and what you’re selling.

It's reassuring to hear other people in the same situation, thanks everyone. Some good advice too which I will take on board, and definitely look at dropping the price again but maybe in a few weeks.

I've been going through cancer treatment since December so we've both been quite distracted. The house sale has been a necessity rather than a leisurely option so it was done quite quickly. We probably should have done more research but as I said, none of the estate agents mentioned anything untoward so we were naively reassured.

I'm sorry about your health and I hope you sell quickly and recover soon too.
the interest rate crisis was precipitated by liz truss and kwasi kwarteng's budget in October 2022 and the cost of living crisis has been ongoing for longer than that. Both of these factors are key in why house selling is stagnating and prices are falling. The general election will absolutely be holding people back from making decisions too.

edit disclaimer may have been summer 22 not October I can't remember exactly

We've been on for 1.5 months, about 10 viewings and no offers. We've found our dream house so getting desperate. Already dropped once! :( x

On since 10th June and not a speck of interest (Greater Mcr). Had it valued by 4 agents, all of whom valued it at £400k or above so put it on at £400k - 3 bed detached cottage on a singletrack with parking.

Have been very disappointed by the agent tbh - got key details wrong on the listing and still don’t have a floor plan on Right Move despite asking several times. Let down by photos - kid turned up with an iPhone and you can tell. I don’t think they’ve done any marketing.

Plan to drop by 5% beginning of August and if no interest by end October will take it off until the Spring with a different agent.

I’ve seen similar here in SE.

There were two houses for sale in a road near me, big semi detached houses with huge gardens but I reckon both were probate and both looked like no updates since the 70s. Old bathrooms old kitchen etc
both on for 700k. The whole house would need redoing. Which I think is a a joke for a house needing that much of an update! Imagine spending £700k and the kitchen & bathroom was decades old!

Needless to say, one eventually sold after the price was reduced several times from 700k to £550k. The second one went off for a while and is now back on for about £580k. Still for sale.

Some sellers seem to be unrealistic about what they can get. Someone who could previously get a mortgage of a certain amount, will
now have had that amount potentially brought down by a huge amount.

@fashionqueen0123 Agreed. Some people have been lucky enough to get pay rises in the last few years, but those most likely won't have kept up with inflation. And the cost of everything, especially mortgages, have skyrocketed.

This is only really applicable to those who bought in the last 5-10 years, but if you have a FTB house think about what your salary was when you were a FTB. Has that salary for that type of work changed significantly? Would you have been able to afford the monthly payments on the house you are selling? If not, then the price probably isn't as reasonable as you think.

When interest rates were low you could live with your parents a bit longer save up a bigger deposit to counter rising prices. Higher monthly payments are likely be an affordability/income issue which is more difficult to overcome. People will move to cheaper areas to a point, but eventually we'll reach a stage where there are more expensive houses than there are buyers, and those houses will have to reduce to sell. And this inevitably needed to be reflected all the way down the chain. I think this is where we are right now.

It's ok, now you know.

If you're purchasing another home, then I find it best to remember that, yes, you'll have to accept a lower price but equally you'll likely pay less for your next home.

Have a good look on Rightmove at the houses that have "sold" on them and analyse where your house sits in comparison. I would change estate agent and remarket at the new price.

All the best with your cancer treatment and move!