For years, buying a flat in London was seen as a smart move. Prices soared, and it felt like a safe way to build wealth. But times have changed. Flat prices in the capital haven’t gone up in nearly a decade — and when you factor in inflation, many have actually lost value.
Meanwhile, the cost of owning a flat keeps rising. Service charges, ground rent, repairs, and cladding issues have hit leaseholders hard. Many didn’t realise the risks until it was too late. Some now face sky-high bills and can’t sell their properties.
Even with falling inflation, everyday homeowners are still being squeezed. While houses in London have held their value, flats are proving to be a gamble — especially leasehold ones. On top of all that, high mortgage rates mean people are paying thousands in interest, with little to show for it.
Bottom line? If you’re trying to sell a flat in London, you’ll need to face facts: prices aren’t what they used to be, and buyers are getting wise to the downsides.
