Britain’s most unwanted homes have been identified – some of which have been on the market for more than 14 years, still struggling to find buyers despite a pandemic-inspired property boom.
Research by Moverly analysed property stock on Rightmove to identify homes that have been listed for the longest time across each area of the British housing market.
According to the digital property pack provider, the UK’s longest-active listing is a two-bed ground floor maisonette in East London, which has been on the market for a staggering 5,139 days since February 2009.
Although the UK housing market experienced a remarkable boom during the pandemic, the market has cooled off in recent months. However, many sellers were able to sell their homes quickly and at high prices.
Unfortunately, some have not been so lucky and have been waiting for a buyer for over a decade. The unlucky sellers of the least wanted homes in each region include a one-bed retirement flat in Havant, Hampshire, a two-bed terrace in Peterlee, Durham, a one-bed flat in Bury, and a two-bed flat in Galashiels. Despite accessible asking prices, some of these homes have been sitting on the market for over 4,000 days.
Even the South West’s least loved home, a one-bed flat in Bristol, has been waiting for a buyer for 1,659 days.
While the UK’s housing market may have been cooling off, the sellers of these unwanted homes are still waiting for a buyer, said Moverly.
The company’s co-founder Ed Molyneux, commented: “It’s been long understood and just as long maligned that Britain’s homebuying process is utterly archaic and, therefore, takes far too long to complete, leaving both sellers and buyers frustrated and leading to all manner of unwanted occurrences such as broken chains and fall-throughs.
“But in order to even start this old-fashioned transaction process, you’ve actually got to find a buyer which is something that the owners of these unwanted homes are no doubt desperate to do by now.”
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