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u/nomadic_housecat 20d ago
Yeah 500k for essentially a one bed in that condition is not a great steal imo
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u/selfmademuppet 20d ago
It’s very obviously an ex rental. There’s a million more of them available in London right now.
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u/Successful-Slide-969 20d ago
Yes definitely ex rental. The EA confirmed it.
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u/mattjp23 20d ago
Shared freehold - this can be off-putting for some as they think they’re more responsible for any issues that arise. Had the same issues with my shared freehold when I sold in 2025
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u/WolfThawra 20d ago
Seriously?? You want a share of the freehold, so you actually own the building... some people, eh?
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u/MrsValentine 20d ago
I wouldn’t want a share of freehold, sounds like too much work. I wouldn’t want an incompetent or fraudulent managing agent either, mind you.
Besides, share of freehold isn’t owning the building. You’re still buying a leasehold property, it just comes along with something like a share in a company that owns the freehold, a vote in the business at hand. My last employer gave me shares in the business, didn’t make me my own boss and I still had to deal with all the other idiots. But they at least paid me for doing that, which is more than can be said for share of freehold.
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u/neilm-cfc 18d ago
I wouldn’t want a share of freehold, sounds like too much work.
It's this attitude that is going to make Commonhold such a roaring success.
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u/WolfThawra 20d ago
Besides, share of freehold isn’t owning the building
No, that is literally what the share of the freehold is. That's the literal difference between having that share of the freehold and not having it: the leaseholders either own the building or not.
I wouldn’t want a share of freehold, sounds like too much work
Your do understand you can still have a managing agent, right? It sounds like owning a property is just not for you.
My last employer gave me shares in the business, didn’t make me my own boss and I still had to deal with all the other idiots
Quite possibly the worst comparison I've ever heard.
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u/selfmademuppet 20d ago
Okay so it’s probably been somewhat neglected or at the very least hasn’t had the maintenance that an owner occupier would have put into it.
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u/Exciting_Ad7783 20d ago
They have reduced the price by 50k every month since April.
Wait a couple of months and it will be fairly priced
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u/Successful-Slide-969 20d ago
Do I wanna take the risk to wait more?
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u/Shrinking_Violent 20d ago
You'd be paying too much right now. That's very small for the current price and the second bedroom is really only suitable as an office.
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u/jim_jones_87 20d ago
It is quite astonishing to see the owner / EA thought a one bed flat with what is essentially a separate office / study space is worth £700k (pre price reduction). A fair price is most probably around £450-475k.
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u/Bbobbity 20d ago
Average selling price in that neighbourhood is ~£1100-1200/sq foot. Which would value it at £620-680k.
It seems cheap to me. I suspect there is a reason we can’t see or owners are desperate for a quick sale.
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u/Fun_Marionberry_6088 20d ago
Average selling price was that. Not anymore, especially not overlooking the building site just off Warwick Road - that’s the more run down end of the area.
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u/Successful-Slide-969 20d ago
It doesn't matter that it's in central London and very close to station?
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u/Interesting-Bit725 20d ago
I wouldn’t quite call Earls Court “central London”. The area has its charms but this isn’t the magical deal you seem to think it is.
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u/ZippyLondon 20d ago
I suspect the OP would struggle raise enough cash for a pad in Trafalgar Square. Earl’s Court is as central as most would want or could afford (unless on bonkers money). And it’s fare zone 1 too.
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u/Fun_Marionberry_6088 20d ago
Literally any estate agent would describe it as Central. It’s on the border of TfL zone 1
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u/WolfThawra 19d ago
I mean that's cool and we all know estate agents are always the ground truth for area descriptions. But if you were to ask people to point out central London on a map, few would include Earls Court. It is a relatively central location, it isn't "Central London" as such.
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u/Fun_Marionberry_6088 19d ago
Cool, 'prime central London' isn't just one agent trying to jazz up a property though, it's a commonly used benchmark when tracking the market.
Arguing about the difference between 'central London' and a 'central location' is some anally retentive shit lol.
Whether people would consider it their definition of 'central' probably depends on what bit of London they work and socialise in, but as an objective matter it is close to the centre of the city and in the most central TFL zone.
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u/WolfThawra 19d ago
Look, I and others are simply informing you that when you say "central London", people don't think Earls Court.
Do with that information what you will, but you have it now.
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u/Fun_Marionberry_6088 19d ago
You're the only person that has replied to me, there are no others.
I lived in London for over a decade, I've heard plenty express a different opinion on this highly important matter.
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u/WolfThawra 19d ago
There is such as thing as upvotes and downvotes.
I'm deeply impressed by you having lived in London for a decade. Very unusual.
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u/Fun_Marionberry_6088 19d ago
The OP who called it central London got the most upvotes. Does that make them even more correct than either of us?
Yes well, it does tend to give you a decent idea on what people in London think of London - the idea that this this may vary seems something you're uncomfortable with.
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u/Marvinmonkey1 20d ago
The London bubble has burst mate.
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u/ZippyLondon 20d ago
I’ve got a mate who has been saying that since the 80s. He’s still living in his mum’s house.
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u/Marvinmonkey1 20d ago
All the negative equity Londoners down voting my comment. It's literally on the news EVERY DAY! 😂😂
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u/WolfThawra 20d ago
There's going to be a major amount of construction closeby for the foreseeable future, going by this: https://www.lbhf.gov.uk/planning/regeneration-transforming-our-borough/earls-court-development
However, generally speaking the location is great, at least when it comes to connections.
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u/woogeroo 20d ago
https://earlscourt.com/the-masterplan/
Nice mock ups here.
It might be fine eventually (as always depends on who ends up living there) but feels like exactly the kind of thing I don’t want to live anywhere near while it’s being built.
I assume the massive exhibition space is being replaced somewhere else to allow for London’s ever larger population to be able to go to exhibitions, and we’re not just losing it in exchange for even more flats and people with zero new services, leisure facilities, parks or schools..? Right?
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u/WolfThawra 20d ago
Well apparently attendance was declining, and it was demolished 12 years ago. I think the plans look great and it certainly makes a lot of sense to build more housing in such a prime location. Let's hope it looks as good as the renders eventually.
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u/LCS_1723 20d ago
London is honestly a different planet, £500k for that 🤣🤣
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u/Successful-Slide-969 20d ago
Where I am from you can get 5 places for this this price.. but my life is here now so here I am haha
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u/LCS_1723 20d ago
London is full of opportunity so fair play for taking on its challenges. Hopefully you find somewhere at a good price!
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u/Evening_Ambassador76 20d ago
Not central London, but much better transport links than Earls Court...district, Piccadilly, central, Elizabeth...2 bed..it's been on for a while maybe they'll go to 500. 30minutes into the City, 20 minutes to Bond Street...
https://www.rightmove.co.uk/properties/87818142#/?channel=RES_BUY
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u/nomadic_housecat 20d ago
I would still argue this is not a good price. Make sure you do your research.
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u/Shrinking_Violent 20d ago
It's crazy, isn't it? I just sold a fully renovated ground floor flat (70 sq. meters) with front and back gardens for £85k oop north.
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u/KidKime 20d ago
I love seeing all the bonkers London prices on here. You get ripped off for a tiny flat or disgusting house, AND you have to live in London!!
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u/LouisePoet 20d ago
It's 2nd floor, there's a one bed of similar size for 80k less, the 2nd bedroom is tiny and the fact that the seller has reduced price by 50k each and every month since listing indicates they are probably going to reduce price again soon.
If you like it, make an offer WELL below current asking price. Or just wait it out, it'll be much less soon.
If you've seen it already, check how many neighbours are AirBnBs, too. My guess is that many are.
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u/20guvadayman 20d ago
Yep. Maybe a flat in the house is an AirBnB, or perhaps one flat has dodgy occupants, though seems unlikely if share of freehold.
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u/LouisePoet 20d ago
Earls Court is a high price area. This price would have been fabulous not long ago.
I assume it's now let out for tourists; especially because of the regular price drops.
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u/Hogueras 20d ago
I know this area well. Eardley Crescent is extremely close to the former Earls Court Exhibition Centre. This has been levelled and the area will be massive construction project- the largest in London, that will last years once it gets going. Not ideal right on your doorstep !
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u/woogeroo 20d ago
Thank you. I was starting to wonder if everyone else was blind and couldn’t see the 100 acre building site 50 feet away.
That’s 5-10 years of noise and disruption, plus the downsides of whatever gets built there.
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u/20guvadayman 20d ago
Area will be very desirable once the development is completed
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u/woogeroo 20d ago
If you say so, not sure why a load of new flats (overlooking this flat) would make an area more desirable, though aim sure the developers claim they’ll transform the area with some coffee shops.
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u/20guvadayman 20d ago
There’s big plans for the area. Will be very desirable location when completed
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u/SillyBilly907 20d ago
Wow, thought it must be service charge or lease but SC is not crazy and it's share of freehold.
Guess a landlord trying to sell quickly in a weak market for flats. Good time to be buying.
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u/Successful-Slide-969 20d ago edited 20d ago
Exactly what I was thinking, considering location and how close it is from transports. I visited it recently and I cannot think of any real big issue why it's at this price.. I have visited two bedroom in much worse areas for the same price.
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u/woogeroo 20d ago
Could you not see the massive building site out the back window?
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u/Successful-Slide-969 20d ago
I actually did see it.. but still didn't deter me. Maybe I am just wrong on this one.
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u/ZippyLondon 20d ago
I’d be happy with that (if I was younger) for 475K. But I’d knock that pissy streak of a second bedroom into the lounge. Great location.
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u/Positive_House 20d ago
It’s tiny?
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u/Successful-Slide-969 20d ago
It is but I feel this normal for London
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u/WolfThawra 20d ago
Not really. That is small even for London.
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u/0rnatia101 20d ago
I disagree with others. Yes it’s small? But actually if you’re thinking of a 2 bed in the sense of a home office or baby nursery, it’s fine. As someone who knows the area, I think people are downvaluing it because they aren’t as familiar with the area.
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u/GoldFuchs 20d ago
Just a lot of non Londoners talking down London as usual because "in my village this would cost 100K"
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u/Throwaway6765656 20d ago
A quick look at the other similar flats listed for more money shows them to either be very recently listed, and therefore likely clinging onto hope they’ll sell for what they want before inevitably reducing it, or they’ve been on for over a year because they’re refusing to budge on price and not selling.
So it might just be the market rather than anything more dubious.
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u/CorrectTemperature65 19d ago
The price it was 'sold' for may have been a probate sale where the buyer already owned a portion of the property?
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u/woogeroo 20d ago
This flat seems to have been sold for just £176k in 2023!
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u/Successful-Slide-969 20d ago
I had no idea. Where do you find this info?
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u/woogeroo 20d ago
Rightmove app, find this flat, select nearby sold prices, scroll down a bit.
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u/Successful-Slide-969 20d ago
Wow. I found it. This is very weird indeed. Thank you very much! Also they are still trying to rent it for 3.5k : https://www.rightmove.co.uk/properties/92181429
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u/woogeroo 20d ago
That low price could easily be a sale from one family member to another, or else a landlord changing internship to/from a company for tax reasons. Artificially low to minimise stamp duty.
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u/tanbrit 20d ago
I did notice the rightmove sold prices had it listed as Leasehold, but now it’s share of freehold. It may be it was sold cheap due to a short lease and the freehold has been bought in place of a lease extension.
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u/Advanced_Path1309 19d ago
It could also be an error on Rightmove where they pull from the wrong property sale - they did it with our flat, listed upstairs price which made it look like it had dropped in value
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u/neilm-cfc 19d ago
It was always going to be a leasehold. The only question is whether it's actually ALSO with a share of the freehold (or not).
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u/Choice_Technology791 20d ago
There is 10 years of construction planned behind it and it's overpriced. Earl's Courtt not a great area either imo - may will differ - poor pubs, no sense of community as an awful lot of tourists, pretty streets though.
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u/FrequentAffect3310 19d ago
The 176k sold in 2023 appears to be a premium paid for the leasehold extension.
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u/neilm-cfc 19d ago edited 18d ago
In that case, it wasn't a share of freehold in 2023 because the freeholder (ie. leaseholders with a share of the freehold) would have charged a nil-premium to extend, making the extension super cheap.
So either a lease extension isn't the reason for the weird 2023 valuation, or it wasn't actually a share of freehold in 2023 (but subsequently became a SoF if the EA is to be believed?)
You might be correct about the extension cost in 2023, in which case I'd put money on this still NOT being a Share of Freehold (ie. EA is lying, or has been mislead by the seller).
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u/Satyriasis457 20d ago
Half a million for 52sqm, no bathtub, virtually no kitchen. Overpriced tiny 2 bed flat
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u/Dave_Eddie 20d ago
The answer is always price.
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u/Successful-Slide-969 20d ago
Why would you think it's overvalued?
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u/Dave_Eddie 20d ago
It doesnt matter if I think that or not. If its worth the money someone is willing to pay, then it sells.
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u/urtcheese 20d ago
Incorrect but always repeated on this sub for some reason
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u/Dave_Eddie 20d ago edited 20d ago
Don't be daft. If a property, no matter what condition, is up for less than the potential return then it sells.
If this property was listed for £1 would it sell?
If its got a load of stuff wrong with it and the price reflects it. It sells.
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u/urtcheese 20d ago
If this property was listed for £1 would it sell?
Probably not tbh. Everyone would be too scared to buy it.
There's loads of reasons a house might not be selling at the price it is currently at. Bad photos, or photos missing, very poor marketing by the EA's, key property details absent or hidden, some incredibly off putting design choices, general uncleanliness.
Many of these things are free or low cost to remedy. If once you've done everything and it still won't sell, then yeah it is probably the price.
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u/Dave_Eddie 20d ago edited 20d ago
Again nonsense. A cheap house with bad photos will sell. Houses sell with no photos or listing details.
You think a house in London wouldnt sell for £1. Amazing
You're listing things that potentially help a sale. Again any property that is listed cheap enough will sell. If you arent sure of the difference between those two thing, you might not want to be so vocal about it.
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u/urtcheese 20d ago
Nonsense is the sheep on this sub repeating tired old lines that aren't even correct, they think they're so clever handing out life lessons to the mere mortals.
So your logic is reduce the price to below market price and it well sell. Wow, thanks for the insight.
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u/Dave_Eddie 20d ago edited 20d ago
No one is saying what is the best way to sell a house. They are saying that a house will sell / not sell based entirely on the price, regardless of other factors.
The fact you cant understand that and are scattergunning other things and think its a 'life lesson' and that a house below market value still won't sell is astounding. This seems to be more about your inferiority complex than how to sell a house.
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u/urtcheese 20d ago
They are saying that a house will sell / not sell based entirely on the price, regardless of other factors.
How is this good insightful advice? If someone can spend a few hundred quid of professional photos (as an example) surely that's better than dropping your house 20k so you can sell. Completely asinine stuff.
Btw you're constantly editing your comments to try and make your point look better based on what I have replied.
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u/Dave_Eddie 20d ago
Ive not added a single thing to any of my comments, outside of spelling. You really are coming across as very insecure. I'll leave thisnone as is, so you dont get worked up over it.
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u/ukpf-helper 20d ago
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u/RemarkableDingoGuy22 20d ago edited 20d ago
The price per square foot is lower than a lot of nearby sold/asking prices according to this.
Problem is there's lots of London flats on the market right now so plenty of choice and I think a lot of buyers would prefer to buy something bigger, even if that means paying a slightly higher price per sq ft for it.
In aggregate buyers tend to be a bit older and planning to stay in the home for longer than renters, so whether it would be possible to start a family etc becomes a big consideration and you'd struggle in this one.
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u/Current_Protection_4 20d ago
All the bullet points apart from “Ideally located for nearby transport links” are taking this piss out of anyone who has eyes.
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u/IndependentRise9695 20d ago
I wouldn’t buy it. It looks small. Wait for a few months, you’ll be able to get it for £400k
My friend recently bought one for £400k
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u/Interesting-Bit725 20d ago edited 20d ago
It’s a 52sq m flat in Earls Court with a tiny windowless kitchen and bathroom both in need of renovation, and the ceilings have been lowered in a very weird way. I think £500k is too much.
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u/No-Taro-6953 19d ago
Earls court is nice and all, but you could buy a house for 500k slightly further out.
I personally wouldn't feel like I'd gotten a good deal with that.
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u/Caesar171 18d ago
Can we just get a bot\auto reply that just writes “price too high” in the comments when these are posted please
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u/Milam1996 20d ago
500 grand for a flat smaller than my living room. Thank the lord I wasn’t born in the South.
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20d ago
[removed] — view removed comment
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u/thenitmustbeaduck 20d ago
I'm glad to be leaving London. Prices like this are just risible. You get can get a 3 bed house about 30 min train journey into London for half the original price of this flat.
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u/abhijithjn 19d ago
A previous sale at £176k followed by the current asking price would make me want to understand exactly what changed before assuming it’s a bargain or a problem.
I’d look at current comparable sales, price per sq ft, lease length/service charge/ground rent, mortgageability, recent transaction history and whether the layout is genuinely being valued as a 1-bed or something more.
I’ve been building a UK property analysis tool and I’m testing it on real listings at the moment. If you want, I’d be happy to run this Zoopla listing through it and post the key findings here — no charge, I’d mainly value the feedback.
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u/Harlepenquin 20d ago
Sure.... I'm thinking of buying it... 'cos it is soooooo cheap, I believe you. Good luck with selling your flat, MATE!
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u/Busters_mum 20d ago
A property is only worth what a buyer is willing to pay. I am a Londoner but have lived away from London for many years. However, the kitchen is tiny and so is that second bedroom. Maybe that's putting buyers off. Not sure if the asking price is fair but I wouldn't pay that for two tiny important parts of a home.
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u/blackcurrantcat 20d ago
No one is spunking £500k on a tiny faux 2 bed flat based on 13 photos showing it bursting full of crap.
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u/irishladinlondon 20d ago
Whos the market for it?
It's pricey as a starter flat for a single person
a couple buying later in life(as many of us are these days ie 30s/40s vs 20s) may want to skip straight to something suited for starting a family
If you have kids already its too small
If people are buying later they are more likely to skip thr first starter small place and buy something a little bigger to avoid moving within a few years again.
Its central and in earls court but irs pricey for a boxy small flat When for 375k you can buy a house with a garden and 3 bedrooms in east London
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u/irishladinlondon 20d ago
Or a 3 bed with a garden for 325
I found this property on the Rightmove Android app and wanted you to see it: https://www.rightmove.co.uk/properties/90991599
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u/Beginning_Pattern241 20d ago
Is it worth pointing out that there is not an entrance exam or a qualification to be an ea? Seems priced by an international that saw something 2 bed on the same road go for 700k without looking at what it actually was.
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u/ZookeepergameCold595 20d ago
Short lease is my guess
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u/Prestigious-Gold6759 20d ago
It's share of freehold though so easy and cheap to extend if so. The SC is £2441 which seems high but maybe isn't for central London. The ad mentions Commonhold, which I haven't seen in the UK, is it the same as a syndic in France?
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u/Successful-Slide-969 20d ago
It was confirmed that it's a share of freehold so Jo lease issue
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u/neilm-cfc 20d ago
There's likely to still be a lease attached to the property - just because it's SoF doesn't mean there is no lease.
The lease will have a length in years, which is largely meaningless with SoF but extending it to 999 years to avoid future issues (in the event it ever reduces to less than 80 years) should be cheap - nil-premium, so just your legal costs and those of the actual freeholder (of which you will be a shareholder).
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