Flats offer ‘growing value’ amid falling demand, says Zoopla
Summary
Zoopla says flats are currently offering better relative value than houses, but demand remains weak because buyers are sensitive to price, running costs and leasehold-related uncertainty. The article also notes that government leasehold reforms are intended to improve transparency and strengthen leaseholder protections, although campaigners argue progress has been too slow.
Why it matters
Surveyors advising on flat sales, valuations and leasehold issues need to understand the market pressure on this sector and the factors affecting buyer confidence. The mention of forthcoming leasehold reforms is relevant to reporting, due diligence and client advice on service charges and ownership structure.
Key points
- Zoopla says flats are offering 'growing value' relative to houses.
- Buyer demand for flats remains subdued due to price sensitivity, running costs and high supply.
- The 'race for space' and post-pandemic buying patterns have pushed some buyers toward houses instead of flats.
- Leasehold uncertainty and extra ownership costs are cited as factors weighing on the flats market.
- Government leasehold reforms are expected to improve transparency around service charges and challenge unfair costs.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
