The housing market is hard as hell, but spare a thought for the property owner who’s been waiting 14 years for their home to sell.
Yup, according to new research by digital upfront property pack provider Moverly, Britain’s ‘most unwanted’ home is this two-bed ground floor maisonette in East London.
With a current asking price of £349,995, the property was first put up for sale on February 16, 2009.
Despite its great location with solid transport links into central London, people just aren’t that interested in it.
The home’s listing describes the maisonette as “an ideal family home or investment opportunity” and from the images, it’s hard to understand why the property has had so little love.
Things are just as bad for the unlucky seller of this one-bed retirement flat in Havant, Hampshire. It’s been on the market since 4th July 2009 (5,001 days) and has a current asking price of £140K, making it the least wanted home in the South East.
The North East’s least loved property is a two-bed terrace in Peterlee, Durham. Despite an accessible asking price of just £64,950, it’s been sitting on the market for 4,627 days having been originally listed on July 13, 2010.
Moverly co-founder, Ed Molyneux, says: “It might come as a surprise to hear that, during our nation’s much-reported housing shortage, perfectly good homes can sit on the market for more than a decade without finding a buyer, but there are any number of reasons why this might be.
“The asking prices might be too high; the property itself might be too unique or quirky, requiring an acquired taste; or perhaps they’re in a state of such disrepair that nobody is willing to touch them.”
The issue with Britain’s most unwanted home? Its lease was renewed for 125 years on 29 September 2004, which could be a barrier for those looking to buy it as lease length can affect how easy it is to get a mortgage on a property.
So how do you avoid ending up with the same fate when selling your home?
Molyneux advises: “Anyone who wants to avoid becoming one of the unluckiest sellers in the nation needs to make sure that their home is being marketed in the right way, at the right price, and with the right information ready for potential buyers.
“Because, while you’re unlikely to be sat on the market for 14 years, a year or even two can easily come and go if your home is not being sold in the right way.”