Lost - not sure what to do tbh

[Londonlost23]

Hi there,

I have owned a flat in Zone 3 East London since around 2016. Nice first floor two bed flat in a converted Victorian house. It shares of freehold, way room to convert the attic....only issue is no garden access.

Nice location too.
Near Walthamstow Village.

However, i no longer live in it so bit confused as what to do. Would love to know your thoughts.

• Would you hold on and rent it out for a while to ride out the market?ll in around £430k. Tbh it's been a terrible investment and the most I could sell it for now is around £475k max. However, im worried its only going to keep going down in value (do the no garden issue). I also kind of want to sell and leave London.

So...

• Would you hold on and rent it out for while to ride out the market?
• Or sell it for break evenish and look to get a better investment?

Overall i just think in almost eight years ive hardly made any money on this property/feels like a bad investment.

so currently lying vacant?

No currently rent it out for £1600pcm

How much are your mortgage repayments? Are they going to increase? By how much? You need to look at whether it is manageable. Is the rental set at the right amount?

Thanks so much for your response. Probs can get the rent up to £2kpcm i reckon.

My question tho is worht holding onto. And i flogging a dead horse a bit?

Long term value of flats with no garden in London have a cap. Would it be better to flip for a house etc?

You’d probably have to change area completely to flip for a house?

Yes thats right. Was looking south London. I just worry my flat is not worth holding onto tbh.

You have to pay tax on the income you get btw