Please tell me why this flat isnt selling?

[curiouscat1987]

Posting this for a family member. Flat has been on the market for months and not only hasnt had any offers but hasnt even had a single viewing! The price was in line with the area, but has been dropped twice and agent changed too with new photos but still no viewings. Its a lovely little place, not the biggest but lovely and bright and quite modern. Im not the best at design etc so would appreciate any thoughts on what they could do to improve the desireability or improve for the photos etc to get some more interest?

Obviously they know they can drop the price, however if they drop it much more they'll be selling for what they bought for 10 years ago!

https://www.rightmove.co.uk/properties/156450941#/?channel=RES_BUY

Thanks everyone ☺️

Oh!
Then the photos of the “view” (which is presumably thought to be a huge selling point considering the quantity of photos) are ridiculous.
You don’t see that from the top floor of a normal sized house

The images make the sloped ceilings look very limiting on height. I feel like I’d be crouching in every room and I’m short!

Strange windows.

Phenomenally expensive for a small flat with what could come with a hefty service charge - I’d worry about cladding, building maintenance costs and all the other charges these buildings come with on top of a heavy mortgage payment. A flat in a period conversion would be a much more attractive option even with refurb costs.

Replacing those velum windows with proper dormers would do wonders for the sense of space and attractiveness inside, but that may not be worth the investment on terms of local ceiling price.

£320k for that! 😱 Tiny flat with sloped ceilings. The mind boggles.

Previous posters have highlighted the main issues. I'd add that there doesn't seem to be space for a shower. It's only really suitable for a single person IMO, probably a first purchase, so the price is offputting.

Also, you only have to look a short distance from the centre of Brighton to find bungalows with gardens for that sort of price.

It's close to the station, so it might suit someone commuting to London, but not at that price.

It is completely miniscule. The sloping ceilings are so off-putting. Anyone of average height or above would be stooping to do the washing up! It would be like living in a motor home or caravan.

? Parking space?
?Annual maintenance charge?

These are critical to know from the outset.

its just seen as tricky atm because service charges are jumping up crazy amounts. They only ever increase so people are put off with the added stress to your mortgage payments.

i was looking at somewhere up north reasonably priced and the service charge was 4k a year. Loads of people in the building were trying to get rid.

They might prefer share of leasehold with all leaseholders being shareholders and a management committee. This set up makes it easier to decide who pays what and when. Share of freehold can be a bit of a free for all of one owner decides some work isn't necessary but others want it done.

Other things. Poor photos and description. I have no idea if there is a shower over the bath or not. I also agree with reducing the amount of grey and either setting the second bedroom up as a bedroom or a better photo so you can get .ire of an idea of the dimensions.

On top of what everyone has already said, I wouldn’t make the decision to buy a place like this, ever, maybe rent it if it was just me and DH but it’s not exactly a forever home. I don’t know anyone that has bought a flat, but im not a city girl.

The price is eye watering, I don’t understand why anyone with that amount of money to spend would go for a pokey flat.

Looks to be high rise?…. Does it have cladding?! If so has it been declared fire safe/have the right certificates? Separately I have a flat in a great location (not high rise and no cladding) which I’ve owned for 13 years and the value hasn’t risen - the days of making easy money off property are sadly gone!…

You only needed to read as far as OP's second sentence .

It's obviously an attic conversion in a period building.

It IS a period conversion. And there’s no service charge because it’s share of freehold. Obviously these important benefits aren’t apparent to people browsing RightMove

That's really expensive, even for Brighton.
You can get much bigger flats with sea views and possibly a balcony for less than that. Further out you can get houses with a garden and parking.
Also agree about the photos, they're not great and the kitchen would put me off even viewing it.
I think the only way you'll get people in is by dropping the price. I'd also add some colour, plants, anything to make it look more vibrant - lots of natural light so adding some 'energy' to the flat should work well in the photos.
Sorry OP, that all sounded negative. I can sympathise - it's miserable when you face the prospect of either not selling or taking a financial hit.
Any chance they could rent it out if they can't sell?

Yeah, I feel like I wouldn't be able to stand up straight while I was using the sink.

Easy. Price.

It's pretty rare to fully own the freehold of a flat. Share of freehold can come with it's own issues but it's generally preferable over leasehold, which most flats are.

I'd worked out the house in the picture is the actual property but agree with others that it's not glaringly obvious and would be a selling point.

It's definitely small and lack of storage would put me off, but I don't know prices in that area so can't comment if/how much it's overpriced. Apart from that it's well presented - just needs pictures taken from better angles.

I'm familiar with this area and it is a lovely area to live in - little village type environment with trendy shops etc . I've been in other ones too in this area and they can be as awkward. I actually like it but the sloping roof does have its limitations. They always say you only need one person who loves it. Is there on street parking with permit? Or off street? Mind you Brighton is not traffic friendly . It's also one of the most ridiculously priced places for property. I suggest a photo upgrade and more details.

You need better pictures

Also I thought there was no picture of bedroom but I’ve just realised there is but it’s just a picture of the corner of the room with what looks like two office chairs in it. Very odd pictures. Tbh the only thing your relative could do is dress the second bedroom as an actual bedroom. The rest is down to the agent marketing it badly.

Unfortunately, the price is far too high for the usable square footage of the property. Very surprised it’s been valued at £320k, £230k would be generous. I honestly thought there was a typo.

Where about on Ditchling Rd is it? It needs a picture of the outside of the building

I would think given the pictures it was in one of the high rise blocks and that would put a lot of people off at that price and those weird pictures make it look like it is

That is why they haven’t had a viewer

The price.
It's always the price.
The price is far too high.

320,000 for that!
Ridiculous.
They were stupid to buy it for that price 10 years ago.
Stick it on for 200,000 and it will sell.

I think the confusion over what the building actually is speaks for itself!

Imo, you need more (and better) photos of inside, especially 2nd bedroom and bathroom. And the master, unless it actually is that small. Loose all but one "view" shot and move to the end. Include a clear, marked up photo of the outside of the building.

Info needs to include costs.

We've just sold a flat, the EA said flat prices have basically flat lined, so I wouldn't be surprised if it hasn't really increased in price for 10 years. COVID, lack of investors wanting property and greedy property maintenance fees have basically killed the market around us.