More than a quarter of properties for sale on Rightmove have been on the market for longer than six months. The latest research shows that, so far this year, 28% of homes on Rightmove have been listed for more than half a year, with 8% listed for over a year.
The latest figures are still a big improvement from 2012, when 40% of properties had not been sold within six months, and one in five (29%) were still without a buyer after 12 months.
Increasing property appeal
According to Rightmove, most properties receive 70% of their interest in the first two weeks. Therefore, before launching your property ensure it is ready for viewings by de-cluttering, enhancing kerb appeal and completing any unfinished jobs in the house.
If you have the funds available, refitting the kitchen or bathroom are the two of the most impactful rooms from a buyer’s perspective.
Rightmove’s property expert, Miles Shipside, said: “If you’ve failed to find a buyer after several months of marketing, then it could be that overall demand in your area is low due to local market conditions. However, if some properties are selling and yours is not, then you either have a property with limited appeal or the price is too high. If you’re unlucky it could be both.”