Only three viewings on our flat in a month - critique welcome!!

[BasilsDad]

Hi, have had our flat on the market for a month now and have only had 3 viewings with no offers. Flat market is slow in general but there are some that have sold in our building recently.

Happy to hear any thoughts and what we could do to improve the listing!!

www.rightmove.co.uk/properties/149966219#/?channel=RES_BUY

Thanks for the responses! Inclined to agree on price, we bought for £418k and never really expected to make money on it as a new build. I have floated with the estate agent and he said another in the block with smaller sqft went for £450k recently so maybe will leave it a little longer.
Loving the office hallway idea!! Never known what to do with that huge space, will def stage it like that so thanks :)

Your flat is very similar to ones nearby to me, in a completely different city and around £150k less.

Location, location, location doesn't always justify the price.

I think it looks well presented but I would pull the kitchen table out from the wall and turn the other way , it just feels like it's a corridor rather than a room , there's no definition to the space so the table feels like an after thought.
The hallway area feels like a waste of a large space and the second room feels cluttered so would move a desk into the hallway somehow to create more of a room , maybe a snuggly chair with the bookcase to show a second area to relax away from the lounge? This would show the second bedroom as just that rather than a mixed use room ? Good luck

its a lovely flat but it’s a new build with service charges so it’s going to be a difficult sell. Flat prices have stagnated or dropped the last few yrs in London so there’s a fair bit more competition.

I really like it but what would put me off is the price and location. For half a million pounds, I could get a 2 bed flat somewhere more central and on a tube line. The maintenance costs and ground rent are also significant and off-putting and there seems to be a fair few flats in that building up for sale. Given that it seems to be a new build, I'd worry that there was something wrong with it.

I like it, Bathroom especially is lovely I'm just in a little bit of shock as a northerner of how much a flat in London costs 😲

Theres 3 under offer at the same price in the same block so may not be the price. Perhaps its just a waiting game. You could drop a bit to look more attractive, perhaps 440k?

Generally nice presentation. I found the hall pic confusing as it has a wardrobe, so looks like a bedroom. I couldn't work out why there was such a big door to the living room, or if it was all supposed to be living room and you were trying to pass a 1 bed off as a 2. The floor plan shows seemingly big storage, but there is no picture.

Mainly though, I was trying to work out how an area that was famous for being a bit dodgy when East 17 were famous has a flat going for nearly half a million quid!

Look at Rightmove and shop like a buyer.
If I wanted to buy there and had that money I’d go for the immaculate and bigger 2 bathroom one just reduced to 425 or the maisonette with outside space. all within minutes of yours. Nothing wrong with it except the price.

There is literally one in the same development that is £25k less and has ensuite:
https://www.rightmove.co.uk/properties/148015157#/media?id=media4&channel=RES_BUY

If you can justify why a buyer should buy your place over this then that needs to be in the listing. That place is also unsold so chances are £425k is too high for that as well.

I just think it's the price. There are loads of these blocks all over London which were priced up to £450k for the HTB limit and sellers are trying to sell for what they paid for it despite there being no government schemes and high interest rates making things unviable for investors.

Bang for the buck it's poor value compared to some houses which are £50k more but offer more outdoor space and no high service charges.

Not directly comparable- that one is a much worse flat.

It doesnt have the great hall and the flow that the OPs flat has.
It is also considerably smaller

Its 2nd floor (or maybe 3rd the agent doesnt seem sure) and the OPs is 1st floor
1st floor is generally more desirable.

Without repeating what others have already said…
Given the absence of a window in the kitchen area, I would have taken the photo with the under cupboard lights on.

Is there a tall cat play thing in the bedroom? Signs of animals having been in the bedroom is a bit off putting.

Also the sink is right at the end of the worktop - so there’s nowhere to put dirty pots for washing.

Op the photos are lovely and emphasises space which in your neck of the woods is a selling point . If I was being picky maybe I would maybe green up your balcony or add a few soft furnishings to make it look a but more cosy.

If it's not getting many viewings it maybe price although I don't know the area so wouldn't want to speak to that.

It could also well be the service charge my mums looking to down size into a flat and a service charge and ground rent combined the amount of your is a lot and maybe putting people off.

If it's a new build (maybe emphasise if the flat is very energy efficient? (I know some new builds are very eco friendly)

Summer time is always a slow period.

OP I think your flat looks lovely and is presented well.

It has to be the price.

Good luck I hope you can work it out to your benefit.

@WestminsterWanderer
usertaken
There is literally one in the same development that is £25k less and has ensuite:
https://www.rightmove.co.uk/properties/148015157#/media?id=media4&channel=RES_BUY

If you can justify why a buyer should buy your place over this then that needs to be in the listing. That place is also unsold so chances are £425k is too high for that as well.

I just think it's the price. There are loads of these blocks all over London which were priced up to £450k for the HTB limit and sellers are trying to sell for what they paid for it despite there being no government schemes and high interest rates making things unviable for investors.

Bang for the buck it's poor value compared to some houses which are £50k more but offer more outdoor space and no high service charges.

Not directly comparable- that one is a much worse flat.

It doesnt have the great hall and the flow that the OPs flat has.
It is also considerably smaller

Its 2nd floor (or maybe 3rd the agent doesnt seem sure) and the OPs is 1st floor
1st floor is generally more desirable.

I disagree. I prefer higher flats and I'd much prefer the shapes of the rooms in that flat rather than those in the OPs flat. The hall in the OPs flat is great but having the space in the main rooms and as an en-suite is more useful. The full width balcony is good too.

I'm not sure as I can't be bothered working it out but I think they are similar sizes. I think The OPs estate agent has included the size of the balcony but it hasn't been included in the first flat.

I still think OPs flat is lovely but I'd definitely look at both flats if I was interested.

TBH the difference is c.80sqft which is basically the foyer.

While it looks nice, to me it's not really that practical, whereas an ensuite is (my own opinion of course).

Someone might also point out that the other flat has a full length balcony which is accessible from the bedroom and the lounge, that is a plus.

Assuming the better balcony cancels out the smaller hall then it just boils down to paying £450k for a one-bathroom flat to a £425k for one with two bathrooms, that is how I would look at it as a buyer.

The pricing doesn't make sense to me for either place and tbf if you paid £418k in 2021 at the top of the market for these things (when lower interest rates, HTB and stamp duty holidays were a thing) I think most people would suggest it's unrealistic to be asking for more money in this market particularly as you can't really add value to a new build.

It looks lovely so I guess it is the price/service charge. I would probably have taken down the washing line though 😂 I might not mention Screwfix either, it sounds like you live next to an industrial estate.

The wide wheelchair access doors confused me when I looked at the photos. It looks like the distortion you get when EAs use wide angle lenses to make the place look a lot bigger. My initial thought was it must be tiny in reality. Obviously it made sense once I read the blurb. I wonder if people are thinking the same and not getting as far as reading the description? If there is a lot of competition on the market, people do reject on just photos.

My flat has a hall (fits a small table and chairs)- but most in our blocks don't
Here those with the halls always sell the best as they have a better flow and more of a feeling of space.

Which balcony is best would depend on direction rather than size for me. You ideally want evening sun on a flat balcony.

Also, I wonder if the apartment having disabled access is putting people off or confusing them? Maybe they feel they shouldn’t be buying a property with disabled access if they don’t need it.

This is a very good point, it is a bit confusing.

Beautiful flat, very nicely presented. Having viewed what else is available in the area, there a a few flats with 2 bathrooms the same price or less. Could you reduce the price a little to simulate interest? Summer school hols are always a bad time for selling tbh, when you also factor in the GE,COL. It’s now a buyers market, not a sellers. There is so much availability now,buyers can choose to be fussy. Good luck OP, I hope you get a buyer soon.

It’s a well presented flat, lovely & bright, nothing about the decor/layout is ‘offensive’ & it looks modern & homely, in a good way.

Its probably a mixture of price and it being a flat in a block. The service charges p/a would be enough to make me think twice.

It's August.
Give it til mid September before you adjust price

It looks like a nice flat but realistically if you bought it new for 418 less than four years ago and now:

• no help to buy available
• no longer new / incentives / choice of finish available
• interest rates 5% higher

I think it's going to be difficult to reach 450.