While the majority of vendors are enjoying one of the best sellers’ markets in years, new research has revealed that some of Britain’s properties have been left on the shelf and failed to secure a buyer – with the longest property being up for sale since 2010, that’s over 4,300 days!
As we reported last week, the high demand from a large number of buyers chasing too few properties for sale has led to a spring price frenzy with month-on-month prices up by 1.6 per cent (+£5,537) to £360,101 and by £19,082 in the past three months. The property market has been on overdrive since the pandemic lockdowns eased. Over one million homes sold in 2021, with the average seller securing a buyer in just 33 days. However, unfortunately for some sellers, these favourable market conditions appear not to have helped them secure a buyer.
The new research looked at property listings on Rightmove to see which properties had been on the market the longest in each region of the country. Here’s what they found…
1. Britain’s Least Loved Property in the North East – £64,950
According to the research, the property that has remained unsold on Rightmove for the longest in Britain is in the North East region. The two-bed terraced home in Durham was originally listed on 13th July 2010 – over 4,300 days ago! The Rightmove listing states that the home has recently been renovated, so maybe its previous state was the reason for it failing to sell. We hope for the owner’s sake it sells soon!
2. The Longest Listed Property in the West Midlands – £180K
This two-bedroom apartment in Dickens Heath wasn’t listed long after the ‘winner’ (or loser) above. Hitting the market on 21st October 2010, it is the longest listed home in the West Midlands, having been on the market for over 4,200 days. The property offers easy access to the M42 and train stations so is ideal for families and commuters. The one thing that may be putting buyers off is the short lease with just 79 years remaining, but this issue should be countered when the Government’s planned 990-year leases come into force.
3. London’s Most Passed-on Property – £200,000
London’s longest listing is a one-bedroom apartment in Edgware that has been for sale on Rightmove since August 2011. The compact compartment is built into the eaves of the apartment block so headspace is severely restricted in the main living area and bedroom, which can put buyers (especially tall ones) off.
4. The North West’s Longest-Listed Property – £129,950
While in the North West this two-bed terrace that is in dire need of modernisation was first listed in 2012 – nearly 3,800 days ago. The three-storey, mid terraced house boasts two bedrooms, gas central heating, no onward chain and a town centre location.
5. East Midlands’ Most Unloved Property – £325K
The least-loved home in the East Midlands has been on the market since 2013. This three-bedroom property has lots of great features such as a fully fitted kitchen, a spacious lounge and a modern bathroom, however, being located next to a railway line will often put buyers off.
6. The Longest Property Listing in Wales – £299, 950
While in Wales, the property that has been listed for the longest on Rightmove is this four-bedroom family home in Blackwood. Offering excellent transport links to Cardiff, Newport and the surrounding areas, the property also benefits from an attractive Sigma kitchen and plenty of off-road parking.
7. Scotland’s Longest Listed property – £85,000
This spacious second floor flat, which boasts stunning views over the town from both sides of the property, is located just off the town centre in Galashiels, a Scottish border town with its roots in the textile industry. The flat is said to be in good order and has well-proportioned rooms throughout, including a spacious open plan kitchen/lounge.
8. Longest-Listed Property in the South East – £200K
The researchers found the property that has been listed for the longest time in the South East is this spacious two double bedroom apartment with fantastic views across Howard Park and the English Channel. The enormous bay window in the open plan living area takes advantage of those beautiful views and floods the room with natural sunlight.
The property has no chain, great views and is in a great location so we wonder why it has been on the market since 2014. Maybe it’s priced too high or the lease is too short or Rightmove simply failed to remove it from its pages…
9. The Longest Property Listing in the South West – POA
In the South West, this stunning nine-bed detached home was first listed in 2016 right around the Brexit vote, which completely stalled the housing market. The property, which is said to be located on one of the country’s most prestigious roads, boasts a hand-painted Chalon kitchen, two annexes, a swimming pool complex and six acres of grounds.
10. The Longest Property Listing in Yorkshire & The Humber
This one-bedroom flat in Hull city centre in Yorkshire and the Humber was also first listed in the Brexit vote year which was a very tough time for the property industry.
Key features are said to be:
- Close to public transport
- Shops and amenities nearby
- No Chain
- Available with tenant in situ
11. Britain’s Longest Property Listing in the East Midlands
According to the research, Britain’s tenth least-loved property is this end of bed terrace house in the East Midlands, which was first listed back in 2017, over 1,700 days ago. This rural property, which is in need of some modernisation, is sited on a large 280ft plot and boasts a 200-foot garden and no chain.
Chris Hodgkinson, Managing Director of HBB Solutions, the property purchasing company that conducted the research, commented: “It’s quite remarkable that in a market struggling for stock to meet such heightened buyer demand, there are homes that have sat dormant online for over a decade without managing to sell.
This can be for a range of reasons. They may be priced too high, they may be a little out of the ordinary or an acquired taste, or they may be far too large for the average buyer. They may even be ghost properties that agents have failed to remove, either by accident, or to bump up their listing numbers.
Whatever the reason, those looking to sell for such a lengthy period of time may want to consider the quick sale route. While they may have to adjust their price expectation, utilising a professional property purchasing platform will allow them to get sold in a shot and relieve them of the title of one of Britain’s least-loved homes.”
What’s the longest-listed property in your area? We’d love to hear.
