Is it difficult to sell a flat?

Selling a flat can be more challenging than selling a house. Flats tend to attract first-time buyers and buy-to-let investors – but interest alone doesn't guarantee a sale. At Sell House Fast, we offer an alternative to the uncertainty and waiting around: a quick and straightforward sale, with no fees.

Why are flats so difficult to sell?

In the last couple of years, the cladding scandal and a pandemic-inspired desire for outdoor space have made things tricky for those wanting to sell flats.

How long does a flat take to sell?

The entire end-to-end home selling process will usually be between 18-34 weeks, from listing the property to the completion. According to recent data from Zoopla, the average home takes 185 days on the market to sell.

Are leasehold flats difficult to sell?

Is it harder to sell a leasehold property? No, it isn't usually harder to sell a leasehold property as long as you have over 90 years remaining on the lease. Basically anyone looking to live in a flat is likely to end up looking at buying a leasehold property, so securing an offer shouldn't be difficult.

Are apartments hard to sell in the UK?

In 2023, flats and apartments in London took the longest to sell – an average of 246 days. In 2022, on average, flats and apartments would take 14 fewer days to sell – 232 days. Detached properties in London took an average of 195 days to sell in 2023. This is an increase of 27 days compared to the year prior.

What to Do When Your House Doesn't Sell

Why are flats not selling at the moment?

Interest Rates Are Smashing Buyer Budgets

Let's not sugar-coat it: the economy's doing your flat no favours. The Bank of England's base rate has shot up from a rock-bottom 0.1% (in 2021) to over 5% in 2024. That's made mortgages brutally expensive, and first-time buyers are feeling the squeeze.

How to make a flat more sellable?

Fix and clean

Many buyers want to move in without making changes, so allow for this. Clean everything until it sparkles. Get rid of limescale, clean and repair tile grout, wax wooden floors, get rid of odours, hang up fresh towels. This will make the place more appealing and allow viewers to imagine living there.

Do leasehold flats lose value?

Why does leasehold property lose value? If a property has less than 80 years left before its lease expires it is known as a 'short leasehold'. In becoming a short lease property your home may lose 10-20% of its value, while premiums are also likely to rise dramatically.

Can a freeholder refuse to sell a freehold?

If the freeholder decides to sell their freehold interest in the block of flats on the open market then they must provide the leaseholders with the right of first refusal. For the right of first refusal to apply, both the building and the leaseholders must meet the qualifying conditions.

Why are leasehold properties not selling?

These include selling properties with short leases (under 80 years), increased paperwork, high-ground rents that may escalate, and various landlord fees, such as administration and exit/transfer fees. Additionally, high service charges and strict compliance with lease terms can deter potential buyers.

What is the best month to sell a flat?

To conclude, March is typically the best time to sell a house. While the worst months are reserved for the winter months. However, if you're looking to sell a house fast, you're in the right place.

Do flats sell quicker than houses?

Flats generally take longer to sell than houses. This is despite being more affordable and appealing to first-time buyers and investors. Selling a flat can also come with unique challenges, such as: The need for consent from the freeholder.

How long should you live in a flat before selling?

It is widely recommended by property experts that you live in your flat for at least five years before you sell it. If you sell your flat fast after purchasing it, you are unlikely to make a significant return on your investment (if any at all) because it won't have increased in value.

Why are people not buying flats?

The cost of owning a flat in London has soared

Almost two thirds of London's flats are leasehold properties, which have been ravaged by issues over the past decade, including soaring service charges, rising ground rents and sudden costs due to unsafe cladding that must be replaced.

Does flat have good resale value?

Premium constructions with quality materials typically maintain 85-90% of their relative market value after a decade, while standard constructions might retain only 70-75% of their relative value. This directly affects the resale value of flat after 10 years.

How long do flats stay on the market?

How Long Will My House Stay On The Market? The average time it takes to find a buyer is usually quoted as between five weeks and 14 weeks, depending on how hot or cold the market is.

What adds the most value to a flat?

What to do if a flat won't sell?

How to dress a flat for sale?

Is now a bad time to sell a flat?

A number of factors have converged to make right now a great time to sell your London property. While spring is always a popular time for buyers, the activity this year has soared meaning demand is sky high. Some factors that are pushing demand in London so high right now are: Traditional spring property buying season.

Why do flats take so long to sell?

Conveyancing for flats/apartments takes longer as there is, quite simply, more work to do. The documentation is more complicated and there are more checks to be carried out.

Why isn't my house selling in 2025?

If your house isn't selling in 2025, it's usually down to a few fixable issues like price, presentation, weak marketing, or choosing the wrong agent. By identifying the main blocker and acting quickly, you can get your sale back on track and attract serious buyers fast.

Will leasehold flats be banned?

Following the introduction of a comprehensive new legal framework for commonhold, new leasehold flats will be banned, and in the meantime the government will continue to implement reforms to help millions of leaseholders who are currently suffering from unfair and unreasonable practices at the hands of unscrupulous ...

How long does a leasehold flat take to sell?

The average time for leasehold conveyancing can range between 8 to 15 weeks, but this is dependent on various factors. The requirement to deal with both the managing agent and the seller's solicitor can make the process longer.

What is the 20 year lease rule?

What is the 20-year lease rule? The 20-year lease rule applies to properties with long leases. The rule means that if a lease has less than 80 years remaining and the term of the lease is for more than 21 years, the leaseholder has the right to extend the lease for another 90 years.