Does this flat worth the premium

firstbuyer2015

Rightmove has an advertisement of a top(second) floor flat in Ashtead, surrey.
It is listed for 315K, which is pricey for a flat?

RM link ends with "property-50786039.html"(sorry cannot paste link here as I am a new user)


The last sale data is as follows
Feb 2015-262500(smaller flat)
Jan 2015-280000(slightly smaller)
Oct 2014-290000(pretty much same dimensions-but mid floor)

Anyone knows the area, is it worth 315K?

We are first time buyers(couple with kid), and could potentially buy this flat. However, we might need to move in a few years so would not want to pay a premium which could affect our equity in the future

bizzybee

Is it no. 12 that sold for £244,000 in November 2013?

An increase of nearly 30% in less than 18 months?

westernpromise

I would personally pay more for an upstairs flats than a downstairs one because the noise is likely to be worse from overhead than from below.

firstbuyer2015

bizzybee wrote: »

Is it no. 12 that sold for £244,000 in November 2013?

An increase of nearly 30% in less than 18 months?

That is correct. But does that matter?

lovinituk

Its kind of irrelevant what it sold for previously. If you like it then put an offer in for what YOU think its worth. If that's less than the asking price then be prepared to be told 'no thanks'.

bouicca21

Look at sold prices for other recently marketed properties in the area, that will help you decide whether the market has risen/is rising sufficiently to justify that increase.

AlexMac

I like Zoopla; not because it's values are gospel, but because it gives real past sale prices, local trend averages and bases estimates on these facts. Useful only if these are a number of comparable properties which seems the case here.

So if, as a buyer, I look at it and think the price is toppy (as I do) so might others. And while one in the block did sell at £290k late last year, the most recent; number 8, went for only £262.5k earlier this year - look at
http://www.zoopla.co.uk/home-values/ashtead/floral-court/?q=Floral%20Court%2C%20Ashtead%2C%20Surrey&results_sort=newest_listings&search_source=home

So I think they're being very optimistic; make an offer evidenced by research so they don't think you're being cheeky. They can only say no

tea-bag

Upstairs flats tend to have lofts and more space.

lostftb

firstbuyer2015 wrote: »

Rightmove has an advertisement of a top(second) floor flat in Ashtead, surrey.
It is listed for 315K, which is pricey for a flat?

RM link ends with "property-50786039.html"(sorry cannot paste link here as I am a new user)


The last sale data is as follows
Feb 2015-262500(smaller flat)
Jan 2015-280000(slightly smaller)
Oct 2014-290000(pretty much same dimensions-but mid floor)

Anyone knows the area, is it worth 315K?

We are first time buyers(couple with kid), and could potentially buy this flat. However, we might need to move in a few years so would not want to pay a premium which could affect our equity in the future

Is this flat worth the premium? Uhm.. Do some research on the area and follow your guts feelings

firstbuyer2015

I have read online that this is a municipal flat from 1961. What is municipal flat?

Paully232000

firstbuyer2015 wrote: »

I have read online that this is a municipal flat from 1961. What is municipal flat?

Is it an alternative name for an ex council flat?