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chrismar

What Would Be A Realistic Price Now

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We have been watching a few properties for a while now - one of which would be for our son - and this is one of them.

It is a 2-bed first floor flat in a block that was built in 2001/2002 and was sold new by the developers mid-2002.

What I would be interested in from those of you who are more expert than I, is what would be realistic price for it now. Plus some advice on possibly what lies between the floors? ie concrete or just hot air!

Some facts about it.

Purpose built first floor flat in a block of 9. Total floor area is pretty accurately around 64-65 square metres.

2 bedrooms, 2 bathrooms - one is an ensuite, open plan kitchen/dining area with balcony and if you step out onto balcony then and only then you can then see the sea and anything sailing past. Plus two parking spaces. The kitchen area is nicely appointed and it has all integrated appliances.

The property sold from new in 2002 - so was built in 2001/2 and has not been resold since, nor have either of the flats above or below. (2 others in the block have both changed hands twice - they are much larger and have a full sea view so when they resold on last occasions one went last time for £230 and the other for £243 - however I realise we are not comparing like with like with this property as it is on other side of block from those - yet agents would pretend we are)

When the property we/my son is interested in sold from new it went for £161K in April 2002.

It has now been on market since January 2010. At that time it was marketed for £235 and has since had reductions downwards and is now asking £199,950.

What I would be grateful for is any advice on what it realistically might attract now. (I know it is only worth what someone will pay!) We told him to aim for and hold out around the £180 mark. Obviously we would like it still under that if possible.

We are concerned that the block could possibly be noisy though because it was built before the latest sound and noise regulations were brought in. We think from walking around that the floors - are hollow and we cannot find out if there is infact concrete between the floors - someone else said to my son that it was a timber frame construction and as such has no concrete between floors just a secondary layer of plasterboard. Would or could that infact be the case and be true?

I would be very grateful for any sensible replies and thank those who can take time to reply for doing so.

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We have been watching a few properties for a while now - one of which would be for our son - and this is one of them.

It is a 2-bed first floor flat in a block that was built in 2001/2002 and was sold new by the developers mid-2002.

What I would be interested in from those of you who are more expert than I, is what would be realistic price for it now. Plus some advice on possibly what lies between the floors? ie concrete or just hot air!

Some facts about it.

Purpose built first floor flat in a block of 9. Total floor area is pretty accurately around 64-65 square metres.

2 bedrooms, 2 bathrooms - one is an ensuite, open plan kitchen/dining area with balcony and if you step out onto balcony then and only then you can then see the sea and anything sailing past. Plus two parking spaces. The kitchen area is nicely appointed and it has all integrated appliances.

The property sold from new in 2002 - so was built in 2001/2 and has not been resold since, nor have either of the flats above or below. (2 others in the block have both changed hands twice - they are much larger and have a full sea view so when they resold on last occasions one went last time for £230 and the other for £243 - however I realise we are not comparing like with like with this property as it is on other side of block from those - yet agents would pretend we are)

When the property we/my son is interested in sold from new it went for £161K in April 2002.

It has now been on market since January 2010. At that time it was marketed for £235 and has since had reductions downwards and is now asking £199,950.

What I would be grateful for is any advice on what it realistically might attract now. (I know it is only worth what someone will pay!) We told him to aim for and hold out around the £180 mark. Obviously we would like it still under that if possible.

We are concerned that the block could possibly be noisy though because it was built before the latest sound and noise regulations were brought in. We think from walking around that the floors - are hollow and we cannot find out if there is infact concrete between the floors - someone else said to my son that it was a timber frame construction and as such has no concrete between floors just a secondary layer of plasterboard. Would or could that infact be the case and be true?

I would be very grateful for any sensible replies and thank those who can take time to reply for doing so.

Surely this depends on where the property is! If it was in Liverpool it may be a lot less than Brighton. I would not pay more than 100K for a 1/2 bed flat anywhere outside of London! Lived in one for 3 months of about the same age (built 2002), and the build quality was non existent. Given the numbers you're throwing around, and the length of time on the market, I'd say its unlikely they'll get the current asking price,and will continue to reduce.....

It's currently only had about a 15% reduction - realistically this is going to reduce further as interest rates bite (which they must, someday).

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I'd agree that the build quality on most, if not all modern build flats of rubbish for sound insulation. I have moved around for work for 4 years now, in 5 flats, all new build, and all have been rubbish for noise. Top end rentals too. I would never buy a new build flat, as all it takes is one neighbour out of 12 to be a noisy ******* and you are stuck.

If you HAVE to take one, at least make sure you are top floor so no one above you - the sound of high heels on floors is a killer! (if you arent in the same room, of course...)

Edited by wherebee

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  • 315 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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