Are houses slow selling at the moment?

[Nextdoor55]

We've got our house on the market & we're finding that it is very slow, no viewings at all - went on market about a month.
We live in the sticks & our property is very particular I think with another house attached to it but I'm wondering, are sales slow at the moment?
Anyone else?

@Farting looks ok to me- to be honest I wouldn't say most people's houses are inspiring - it was just anexample of an average kind of one that didn't really need loads of work and previously would have flown off the shelf here in that price range-we do have lots of very beautiful houses here that indeed are more inspiring I would say/ but they aren't always the most practical layout for a family or are bloody expensive.

This is another example- maybe less clunky and more aspirational- been on since last November and again in the past would honestly have just flown out- pretty village about 7 miles out of Bath - Rees Mogg used to live in the village but thankfully has moved on!

www.rightmove.co.uk/properties/138425996#/?channel=RES_BUY

That’s a nice house but it’s a lot for a terraced house with an odd layout.

@Crikeyalmighty that sort of area has been very popular for a long time right? It looks as if lots of sellers there either haven't realised that the market is falling or are not too fussed about selling. If (when) job losses rise, that may lead to more realistic pricing.

Is also leasehold with an annual charge. No info on what the charge is for!

Also, back garden is tiny, and overlooked by that huge house behind it. The neighbors also park just behind the garden. No garage. In the country side but neighbors side and back. On a B-road.

Yes this is our experience as well.

The houses hanging around on the market are overpriced. They’re usually in a state of disrepair that the owners can’t see, so assume they’re worth the same as another similar house that has been done up to a high standard.

Most of the houses still for sale months later have 90s kitchens, fake stone walls around the fire, very old bathroom suits, and the gardens have been pebbled and gravelled over even if massive!

There’s also an issue with the smallest bedroom of any house being so tiny as to be unusable. I have 2 children, it’s not fair for one to have a huge bedroom with more space than they need while the other squashes into a 2x2m without even room for a wardrobe. I’ve noticed houses where the smallest bedroom is still a decent size also go very quickly.

reducing I think because we want it priced to sell! will DM you if ok? let you know how it goes, and I would be interested in hearing how you do,

This house looks like it is traditional with a modern internal which I suspect will make it less attractive, I know this area as I used to live in Bath. I want to rip it all out and fill it with stuff from a reclamation yard 😂

Estate agent said to us ppl are waiting for the new government to perhaps reduce stamp duty or do anything to get houses moving. We have a viewing tmrw …1st in a month. We only want proceedable ppl - no time wasters. Fingers crossed for all of us

I think rural/isolated properties are struggling because people realise life out in the sticks isn’t that great if you’re used to the convenience of living near a town or city.

That attitude doesn't help, they may genuinely want to move and not be wasting time, they just haven't got a buyer.

By your own logic you're not proceedable because you don't have a buyer so you're a time waster.

I put my house on the market with complete overconfidence because I live in one of the most desirable roads in my town. It's not an affluent road but it's a tucked away in a cul de sac that's very popular with families. Houses on this road have always sold incredibly quickly. In one month of listing I had my first viewing yesterday.

I've got a viewing today too woooo, second one since we listed about three weeks ago 🤞🤞good luck to those who also have viewings this week and hope you all get some positive news soon

Well I will be keeping everything crossed for you that these positive changes make all the difference. Definitely DM me, that's fine, would love to see how you go with it.

@Nextdoor55 you see if I was looking I want trad exterior, modern interior - guess we are all different

Some people may be waiting for interest rate cuts later this year/ 2025 perhaps, although I don't think they will make much difference immediately. I think expecting SDLT cuts is v likely wishful thinking by people who simply can't afford the current prices. Unfortunately, many agents simply haven't adjusted their property valuations to the current market and keep making excuses about why their sales are so much lower and expecting them to pick up without any adjustment on their part.

We're relisting with another agent. He was v helpful with telling us what we need to do in order to tweak the house, simple things but hopefully will be effective.

Very slow in my area.

In this market its like trying to catch a falling knife

Not many people want to do that!

Huge gap in asking to sold price which supports what has been said about over valuing agents and sellers. @Nextdoor55 and other sellers in Wales- Wales reported as having the biggest gap.

https://www.mortgagefinancegazette.com/uncategorised/asking-to-sold-market-value-gap-increases-to-17-1-yopa-19-07-2024/

@rainingsnoring so people should be starting negotiations with an initial bid of 25% off asking?

@OneForTheToad I can't see that being taken too seriously! The data does support what several people have said about over valuing agents though. Smart buyers are waiting for reductions or bidding below asking price. If sellers sell below asking price, they can hopefully negotiate on their purchase too.

Neighbours have just sold their house, 13 days after listing. South Devon. When I (cheekily) asked, they said they had got within an ant's eyelash of what they expected.

Oh well that's depressing & reassuring at the same time!