Evening ladies, looking for a little advice please!
We have seen a flat we’d like to offer on - it’s in a riverside apartment in London. On the market for approx 5 mths & reduced recently to £500k OIEO. A similar flat in neighbouring identical complex but in much better condition (new kitchen, modern bathroom etc) has gone under offer - it was on at £500k. Nothing had been going for asking in our neck of the woods, so will be very surprised if actually sold for £500k.
Looking at sold prices for that development the most recent sold prices were 6 months ago for 2 flats that were on at £450k. Both sold for £435k. Floorsize the same - the only difference is that they were ground floor (river facing) and did not have the small balcony our flat has.
How much of a premium would you say the (small) balcony / not being on ground floor is & what should we offer?
The asking price feels high relative to the most recent sales a surely a dinky balcony is not worth an extra £80k?!