What’s happening with flats in W1/WC1/NW1/W9

[TintyMinty]

Looking for a 3 bed flat Marylebone/St John’s Wood / Maida Vale / Bloomsbury - anyone have any ideas what the market is doing?

We are selling one at the moment by chance. It's slow going, definitely more of a buyers market. There's been a bit more new stock recently - some crazily priced - but buyers are definitely expecting a lot for their money and don't even appear to be making offers to test out the market.

It seems people are pricing higher expecting buyers to offer 10% less but then the sellers just look out of touch and unrealistic so buyers won't even look. It's a bit of a standstill at the moment

That’s helpful - do you have a sense of how the actual sold prices are stacking up against say 2016 prices etc? Or any particular stock that is holding its own - eg new build vs mansion block?

I'd say there hasn't been a massive rise in prices over the last few years. It's an area that was relatively badly hit by Brexit. Mansion blocks still seem to be in favour but we've had some weird feedback from buyers which suggests that they want a mansion block but not the actual reality of it eg we had someone complain that people could put their rubbish outside the front door of the flat and it would be collected and they didn't want that yet it's happened in almost every mansion block I've lived in.

A friend of mine has been trying to sell a top floor 2 bed flat with a share of freehold in Maida Vale for two years in a mansion block.

She had 3 offers during that period and all of them fell through. She reduced the price already but I think she is not quite being realistic about the market as her property looks a bit dated although it is on a lovely road.

So you might find that it is a buyers' market at the moment.