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Original poster

Is anyone trying to sell a London flat at the moment?

211 replies

shesaidshesleavingonasunday · 25/08/2020 19:15

Specifically, a flat with no garden. Ours has been on since March just before lockdown with sporadic viewings and no offers. Price lowered as much as it can go. Totally de cluttered.

The problem is not the flat, the problem is the market. If you look at rightmove, no similar flats within a 3 mile radius of mine have sold since the beginning of August. None. We are talking about hundreds of flats.

I am honestly terrified and devastated in equal measure right now.

Please don't tell me oh everyone is moving out of London for the countryside, bla bla bla - I know that full well. It doesnt change how awful I feel about it.

Anyone in the same situation and want to commiserate?

OP posts:
Original poster
shesaidshesleavingonasunday · 25/08/2020 22:01

you can have a look at the others though. Hither green, 2 bedrooms, 350k. Nothing is selling - see for yourself.

OP posts:
Itscoldouthere · 25/08/2020 22:03

Not everyone want to live in the countryside, after 8 years in a village, I can't wait to get back to city living. It all depends on your life stage.

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:03

We actually aren't leaving for the countryside, I'm quite happy in the city. Plus all my family are here.

OP posts:
NotAnotherUserNumber · 25/08/2020 22:05

@summerday1975

Where are you in London? N10 is absolutely crazy currently with so many sales. We saw a flat a few minutes from ours, listed for £750k no garden and snapped up within days. It has to be completely refurbished inside. Like everything! A lot of other flats for sale with no garden equally going under offer. The agents valued ours at £800k - a lot more than we paid for 4 years ago. We have a large garden but can’t be accessed directly but it’s very quiet garden with no annoying neighbors. We thought to sell ours and buy something a little bigger in the same area but there are so many buyers/bidders on the flats we saw that we gave up.
Is N10 Muswell Hill? I had no idea it was that expensive up there!

Watching this thread with interest as we are thinking of selling our zone 1/2 border flat and trying to move up to somewhere bigger with a garden.

Itscoldouthere · 25/08/2020 22:07

N10 is expensive partly due to having good state schools.

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:07

I should think youll have no trouble in zone 1, it is cheaper flats in cheaper areas that seem to be struggling.

OP posts:
DespairingHomeowner · 25/08/2020 22:08

I’m also disappointed in my agent, but not sure they can do more...

Re second bedroom: if you turn into an office, where is your son going to sleep? Could you Just make the kiddie decor more neutral (eg paint it white) & put some kind of table in there?

You really have my sympathies: it’s hard enough keeping place viewing ready & decluttered as an adult, much tougher for a family

If you cannot sell in short term, are there things you can do to make space work better for you? Eg swapping rooms around or something... any furniture solutions etc

This is horrible to be trapped, but I sincerely believe it in will at worst be a year or two. Even if home working stays a big thing, young people (who are the market for flats) will want to live in cities for social life, and willl also need to be in offices to progress their careers. I expect lots of people are hanging on due to uncertainty

I’m also hoping the weather change may make some buyers less focused on a garden. I bought an upstairs conversion as a single woman as more secure: once we all start going to work or at least out again those considerations will be back

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:08

To be fair the state primaries in Lewisham are universally excellent.

OP posts:
Original poster
shesaidshesleavingonasunday · 25/08/2020 22:09

Re second bedroom: if you turn into an office, where is your son going to sleep? Could you Just make the kiddie decor more neutral (eg paint it white) & put some kind of table in there?

We have already done it - he is on the futon in there which to be fair he loves. All his toys and books are hidden but accessible to him. The room is a neutral colour

OP posts:
Original poster
shesaidshesleavingonasunday · 25/08/2020 22:10

we've made the space work as well as we possibly can but at the end of the day it is 500 sq ft and there are three of us...there is only so far clever space saving hacks can go really

OP posts:
Original poster
shesaidshesleavingonasunday · 25/08/2020 22:13

My fricking eyelashes are falling out over it, it is ridiculous

OP posts:
1990s · 25/08/2020 22:13

if you have been given the ability to work from home why would you sit in a flat when you could buy a house outside London or even the UK?

I can completely understand why Covid has made some people rethink their lifestyles, but the idea that everyone in a city ONLY lives there because their office is there is batshit.

Also, anyone moving out of the UK who's not self employed pretty quickly gives their employer a tax headache. Not popular.

Sadly I think the only thing to do may be to hang in there for a while OP.

DespairingHomeowner · 25/08/2020 22:15

In that case I’d be pushing agent to be a bit more specific in feedback. Also, are photos making it look better than it really is?

Just thoughts: I tend to think that that it’s the market as you say

Re the stress: is your child at school/ do you work locally? If not, is there any way you can go to stay elsewhere for even a little bit to get a mental break ? Other problems you can compartmentalise, but being in a home you can’t sell it will always be on your mind! I visit family/go on days out: this helps me relax as I’m not staring my problems in the face

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:17

I think we will probably give it til spring next year and if it still hasn't sold we will have to rent it out

OP posts:
OnlyFoolsnMothers · 25/08/2020 22:21

Hither green should fly off the market- so so strange!!!

Nightmanagerfan · 25/08/2020 22:22

That’s roughly our plan too. We could take most of the equity out in a buy to let mortgage and move that way. Is that an option for you?

Nightmanagerfan · 25/08/2020 22:23

PS Hither Green is one of the areas we are looking to move to!

OnlyFoolsnMothers · 25/08/2020 22:23

Hither green has some great primary schools, blackheath and lovely parks. I’m shocked for you OP- 350k in hither green is nothing

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:24

onlyfools

I promise I'm not lying - check out rightmove!

It was on at 375 initially.

OP posts:
Embracelife · 25/08/2020 22:25

If you want to sell put a lower pricd and take the hit.
What is worse
Living in a small flat
"Losing" 50k you thought you would have from flat

Go see gp you need to address your stress
Where will you move to?
What difference will that 50k or whatver k make?

Kipperandarthur · 25/08/2020 22:28

Are you on with a proper estate agent who actively is marketing your flat and not an on line agent?

titnomatani · 25/08/2020 22:29

I feel you pain OP. Have you considered a 'let to buy' mortgage?

Alexalee · 25/08/2020 22:30

500ft2 is very small for a 2 bed flat, new build 1 beds are probably bigger and with help to buy also more affordable
Also rent to rent isnt as easy as it used to be due to new tax implications

Original poster
shesaidshesleavingonasunday · 25/08/2020 22:32

500ft2 is very small for a 2 bed flat, new build 1 beds are probably bigger and with help to buy also more affordable
Also rent to rent isnt as easy as it used to be due to new tax implications

Yes yes thank you very much for your helpful advice

People actually like the victorian conversions over the new builds round here, even if the new builds are larger. Particularly as new build flats often come with massive service charges.

Are you on with a proper estate agent who actively is marketing your flat and not an on line agent?

We currently are not on the market but when we were we were with a local agent. I would never have gone with an online one.

OP posts:
Violetroselily · 25/08/2020 22:38

I'm not too far from you - Shooters Hill - and flats does seem to be shifting around here. I only bought my 1 bed last year and won't be thinking about selling for a few years but having looked on rightmove there is alot SSTC between £200k and £350k

Hang in there OP