Artificially low starting prices don't help.
In some places the buyers aren't around.
Over supply in some locations mean rents are falling and values are following suit. Think of the new waterfront developments in Glasgow and Edinburgh - these flats are difficult to give away with builders ever more creative in what they're offering by way of incentives.
Canny buyers and renters also know rental values are falling in secondary towns like Kilmarnock where a large number of properties have been bought by investors. It's all about supply and demand.
Where does house valuation in Scotland for a slow market leave you?
Particular care should be taken with valuing and pricing your home if:
- there are many similar properties for sale in your area for similar prices
- people selling average family homes who want to sell promptly
- people selling first time buyer properties including ex council properties in smaller towns and more rural locations
- individuals pricing their properties for a quick sale
When you contract with a estate agent (or solicitor) they don't guarantee to sell your property or find you a buyer.
House valuation in Scotland for a slow market means pricing your property attractively.
When the market is slowing down, the fact your neighbour sold a house similar to yours three months ago for £80,000 or 380,000 does not mean your property will fetch the same price now.
By all means test the water. This isn't a bad choice if you can wait until the right buyer comes along. No one wants to throw money away. But keep talking to your solicitor/agent and asking for feedback. Is the marketing of your property ok? Make sure your property is listed on Rightmove if it's listed with an agent. If selling with a solicitor they will give you the option of listing your property on the relevant regional solicitors property centre web site. Take it.
Still no viewings or far fewer than expected? Chances are your house valuation for a slow market is too high. This means your property is over-priced for current market conditions.
Wishful thinking won't sell your property. Your house valuation in Scotland for a slow market should be realistic. This might mean going the fixed price route but don't build all of the premium into the price. This means selling for less than a surveyor's maximum valuation.
At the end of the day solicitor and estate agents don't guarantee to sell your property or find you a buyer. When you have all the available information at your finger tips - make your own decision about your house valuation in Scotland for a slow market and how you price your property.