To sell my house to buy a flat in a falling market?

[Biwurlu]

I'm currently in a house and moving to a more expensive area.

Only thing I've really liked has been a flat.

The house price index shows that prices are falling in that area (5% in the last year and with brexit I guess this could continue).

I've had several family members say it's a mistake to move to a flat from a house especially with a falling market. But it's the only half decent thing I've seen (although worried about neighbours).

Do you think it could be a disastrous financial decision to move to a flat?

I currently own my apartment and I can't get it sold. Its been on the market close to a year, I have two small children so it's a bit of a nightmare. My neighbours where a nightmare and thankfully after 6 years I have new nice neighbours.
Also as well as land and property fees we pay ground fees which vary from £67.96 to £106.50 per month.
Make sure you do a bit of research before you move into a neighbourhood/apartment block.

I’ve lived in a share of freehold flat for about 30 years and I love it. It’s a small block and we agree our maintenance strategy between us. We all recognise the value of our property and want to protect it. I’ve had no noise issues, my neighbours have helped out whenever needed eg I got stuck in traffic so they signed for my food delivery and put the frozen stuff in their freezer until I got home. I like the security of knowing my neighbours will be protecting the building with their presence whenever I go travelling. I’d happily live in a share of freehold flat forever.

I wouldn't do it. You will be at the mercy of the people who decide the maintenance costs and the mercy of your neighbours with no outside space. The right house will come along if you are patient. I think you should wait anyway, Brexit uncertainty and all that.

I find the English antipathy towards flats as bizzare, in urban Scotland it's totally normal to live your entire life in a flat and many older people wlil move to a ground floor tenement as they get older and can't manage the stairs in a house any more.

Go for it op

Just to give you a bit more info regarding the flooring.
My upstairs neighbour moved in a couple of years ago and fitted laminate flooring throughout her flat and it's noisy, very noisy especially if she drops something or has her high heels on clip clopping across the floor.
I am fortunate that I can remove my hearing aids so I don't hear her but my friends when they cannot believe how much noise comes from upstairs floors.
They also disturbed a water pipe when doing the flooring and it eventually leaked through into my bedroom ceiling. But as it's a HA apartment the issue was sorted by the HA.