Is a freehold property worth more than leasehold?

Mallotum_X

Bananamilk wrote: »

As a general rule of thumb, should I expect our 1 bed terraced house (unusual I know) to be worth more than a 1 bed leasehold flat in the local area?

There are very few similar properties to ours in the area and none have sold in the past 5 years as far as I can see. (We're currently letting it, so haven't discussed selling with our tenants yet.)

I was thinking it might be worth about 10% more than a comparable leasehold flat?

Any ideas?

I would always expect a premium on a 1 bed house to a 1 bed flat. But then you are probably getting more - i.e. a private garden on top of the lack of mgt fees.

Bananamilk_2

Thanks everyone. You clearly all know your salt:T, because 3 EAs have valued, and valuations came in at between 10 and 20% more than a decent 1 bed flat in the area - although I thought the middle ground (12 - 15%) was about right when I compared with other similar places on the market at the moment.