Valentine’s Day is just around the corner, and there is plenty of love in the air.
Unfortunately, love is in rather short supply when it comes to this three-bed terraced house in Wakefield which has been on the market for almost SEVEN years and still hasn’t attracted a buyer.
Online estate agents Housesimple.com has researched property markets in 100 major towns and cities, to find the UK’s most unloved properties.
The house, on Wesley Street, which is chain free, was first listed for sale on August 11, 2012 for £119,950 and even a price drop of £5,000 in September 2012 and another £5,000 in October to £109,950 still hasn't tempted any buyers to date.
And it’s not just the cheaper properties that are struggling to find buyers. A five-bedroom house in Sandbanks, Poole, known for being one of the most expensive coastal real estates in the world, has been on the market for almost five years. It was reduced in price by half a million pounds in December 2018. While, a castle in Edinburgh, first listed over four years ago, has failed to find a buyer, even though it had its asking price reduced by £1m last July.
According to research by Housesimple, the UK’s 20 most unloved properties* have been on the market between 57 months and just under nine years.
Seven properties have been on the market since 2010 and nine of the ten homes that have been listed for the longest period of time, are located in the north of England.
Sam Mitchell, CEO of online estate agents HouseSimple.com, said: “There are a number of reasons why a home might not sell quickly; from macroeconomic factors to the condition of the property and the initial marketed price.
"There is not much a seller can do about the economic climate. All they can do is give themselves the best possible chance of finding a buyer whatever is happening in the wider property market and the global economy. And a property should sell in any climate if it is marketed correctly.
“Don’t forget, it’s vital your property views well both online and offline. You need high-quality photos online as scrolling through pages on a property portal is likely to be the first time a potential buyer will see your property. And make sure your home is clean and tidy, and free of clutter when people actually come round to view.
"Potential buyers make quick decisions on a property, and you want the first impression to be a positive one.
“If you have a buyer who is considering making an offer, but is wavering on the price, then be willing to negotiate to push the sale over the line. If it’s a matter of a few thousand pounds to secure a sale, then weigh up whether you can afford to take a lower offer. It’s likely that you will be able to cover it by negotiating a lower price on the home you’re buying."
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