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Ex-council period property

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  • Ex-council period property

    Hi all,

    I was wondering if anyone could give me advice on the following matter:

    I am considering purchasing a flat in a period property in West London - stucco period terrace block. However, the freeholder is the local council (RBKC), as in the past they had bought several blocks in the area to use as council housing.

    In this particularly block 3 out of 5 flats have been privatized, with the other 2 still council owned.

    We are of course concerned about resale value, as homebuyers interested in period properties may be put off (rightly or wrongly) by the notion that it is technically an ex-council property.

    I think our question essentially comes down to this:

    Is the majority of value of a period property essentially down to the features, or to the type of neighbours?

    Does anyone have any experience with this?

    P.S. We do recognize there is a significant element of snobbery here, but that it may have a tangible effect on property valuation.

    Kind regards,

    Alastair

  • #2
    I think its the whole neighbourhood personnally. We currently live in an ex-council house with some houses on the street still council owned. It definatly has reduced the value of our house but not over time. Its paid off for us as our road is going up in price whilst the rest of the area is devaluing. We sold within 3 months of going on the market and averaged 1 viewer a week which in an area where the average of selling is 12months thats pretty good if you ask me!

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