Similar properties, huge discrepancy in prices

verytired11

The main difference I can see is parking and decor.  I am always surprised about how big a difference decor seems to make to price.  Parking in London is a nightmare so having a car park is a definite plus.  However, I think your flat is way nicer than the other one.  The most likely explanation though is location. As others have said, in London sometimes 100 yards can make a huge difference.  It could be school catchment or backing on to something undesirable or any number of things.

verytired11

Just noticed Harrow High School is nearby - an Ofsted rated good state school. It could be that, although usually agents mention it on the listing if it's a selling point.

theoretica

The cheaper one has the kitchen off in a corner in a way that seems to be considered less desirable nowadays. 

Cakeguts

knitmare said:

Keswick1uk said:

Have you checked out the local area to your flat on that street checker thingy which gives all sorts of data on an area?

Could it be length of lease remaining? Ground rents? Service charges? Cladding ? View? Close by tube? Has the expensive one actually sold? What are other sale prices like in that area,  close to yours or closer to theirs?

Just some thoughts!

Well my lease has 986 years on it, so I had thought you can't get much better than that. No cladding, views are similar, one side looks out to the street and one to communal gardens. The more expensive one does has an allocated parking space. 
Distance to the tube - the difference is minimal. *Scratches head*

The side that looks out on communal gardens has Halfords on the otherside of the garden and there was a recent planning application put in by a developer to build a block of flats on the Halfords site.  I am also aware that some of the flats in that block are council owned because a ground floor one recently became available and was on a council property bidding site. 

As you can see there is no parking which isn't a problem if you never intend to own a car. If you do own a car even with a parking permit there is no guarantee that you will be able to park a car anywhere near that flat as parking in Harrow is terrible. 

The more expensive flat is in a block that isn't owned by the council so they will have better financial arrangements regarding repairs and it has private offstreet parking as well as being newer and better insulated.  Some people who buy ex council flats get huge bills running into £1000s for repairs.  You aren't going to get this kind of nasty surprise if you live in a block that has never been owned by the council.  You will need to know if there are likely to be any big repair bills coming up and also the affect of the new block of flats on the site that Halfords is currently occupying.

It isn't actually a puzzle that the newer one is more expensive. It is much more appealing to most people than an ex council flat with no offstreet parking.

knitmare

Keswick1uk said:

Your choice appears to be in a more industrial area and an older block. Quite high service charge but maybe they all are?

The other block appears to be located in an upmarket residential area. The parking is obviously useful. 

The decor doesn't look much different in either. 

I went and had a look, the two sets off flats are visible from each other, so hardly a difference in area.
I'm planning to redecorate anyway. 

Neil49 said:

Congratulations and I hope you enjoy life in your new home. 

Thank you!

Cakeguts said:

I hope you don't have a car?  Harrow has got very restricted parking.  

I'd be entitled to a permit.Crashy_Time said:

First one looks like value might be creeping into London, or is there something that you are missing, maybe a serial killer used to live there or something? The second one is just kite flying IMO, and maybe Covid is a factor (especially as it doesn`t seem to have gone away) might not be too pleasant locked down in either of these flats?

Lol if a previous serial killer is all it is, then I'll take that. Being locked down isn't particularly fun, but its all my budget comfortably stretches to for now. 

knitmare

verytired11 said:

However, I think your flat is way nicer than the other one.  The most likely explanation though is location. As others have said, in London sometimes 100 yards can make a huge difference.  It could be school catchment or backing on to something undesirable or any number of things.

I thought so too The 2 properties aren't 5 mins apart as I initially thoughts, more like 2. Theyre visible from each other. 
In either case, the plan isn't for it to be a forever home, but a step in the right direction. 

theoretica said:

The cheaper one has the kitchen off in a corner in a way that seems to be considered less desirable nowadays. 

I had noticed, but I actually prefer a separate kitchen than open plan. I'm a keen cook, but it means I prefer my living area not to smell garlic / onions / cooking smells.

Cakeguts said:

I am also aware that some of the flats in that block are council owned because a ground floor one recently became available and was on a council property bidding site. 

It isn't actually a puzzle that the newer one is more expensive. It is much more appealing to most people than an ex council flat with no offstreet parking.

I have it in writing that it isn't ex-council but it may be that I'm just naive. How do I confirm this? 
I mean to be fair, they're within eyesight of each other, so this factor alone wouldn't put me off and its eligible for a parking permit, but yes I take your points on board.