Amid the green space of London’s Greater Bromley District, urban professionals and young families are finding Bromley an affordable option to the high prices of homes in London’s centre. The “small town” suburban lifestyle mixes the amenities of city life with pastoral green spaces and the countryside atmosphere. The trade-off is a few extra minutes travel-time. And yet, it’s not a bad commute. Bromley trains offer regular service and an average commute time of twenty minutes. When looking at the housing market it’s not hard to see why most flats for sale in Bromley are so popular. Close to conveniences, with short commute times and excellent-rated schools, Bromley offers the best of both worlds. If you click here you can see all our latest listings.
How to Value Flats for Sale in Bromley
How do you know what you should pay? The best way to calculate the value is to know what the general market is willing to pay for similar property. Look at prices the nearby homes sold for. If you’re interested in a flat, we can provide more detailed information about recent sales and comparable listings when you schedule a viewing, but for now, here is a general overview.
- The average price paid recently for flats in Bromley is around £330,000.
- The current average value of those flats averages to £335,998, or roughly £462 per square foot.
- One or two bedroom flats are the most common size available (1.9 bedrooms is the area average).
- We are currently seeing One Bedroom Flats with purchase prices around £256,400 -- or rental prices around £850 monthly.
- Two Bedroom Flats are currently selling at £365,600 -- to rent they're £1,300 monthly, on average.
When considering the cost of purchasing a flat and creating your budget it’s a good idea to take into consideration the price of rents in the area. Mortgage payments can be recovered by re-selling the flat. When contrasted with what you might expect to spend in rents, it can help put your decision in perspective. One way or another you will be paying for the shelter over your head.
Are you ready to Purchase a Flat?
Eminently sensible, some 80% of the British population owns or plans to own their own homes. When contemplating the purchase of your flat, the number one thing to consider is: Does it make you happy? While it is possible that fluctuating market values mean you could have saved a pound or two by waiting to purchase, you might also spend more by putting it off. If you’re happy with the flat, you like the location, your commute, and you’re comfortable with your payment -- then you are making the right decision.
Flat Buying Checklist
The ideal flat is different for each person but there are some common elements that we see and which, in general, give flats better resale value down the road.
- Proximity. Two main things that people like to be close to are public transport and good schools. Proximity to a shorter commute or a better school can make a difference in how quickly the flat sells. People also like to be near shopping, sports facilities, parks and playgrounds.
- Soundproofing. How well can you hear the neighbours? If the telly or stereo is on, ask to turn it off. Ask to see the flat at different times of day too, to gauge the noise levels from the street.
- Parking. While you may not have a car yourself, most people want off-street parking. Your visitors might appreciate it too.
- Gardens. In terms of resale value a garden flat is likely to have better prospects. We all love a garden; check for communal spaces that include gardens.
- Share of the Freehold. Having a share of the freehold in addition to the leasehold on your flat can give you an additional measure of security. It’s desirable, and so is a benefit if you decide to sell later. Shared equity “part-buy” options are also hot.
- Affordability. Most people look to buy at the top end of what they can afford – we all have great taste and want the best. However, it might be wise to look at a few modest options as well. Sometimes the diamond in the rough is a better choice in the end.
Whether you are looking for a conversion or purpose built apartment complex, Bromley has a number of great options to choose from. Here at Edward Ashdale we’re ready to answer your questions and help you find the perfect flat for your needs. Our high standards of service and specialized local knowledge of the latest flats for sale in Bromley will give you the edge in your search.