‘The market is dead’: why aren’t flats in England selling?
Figures show most leasehold flats in England do not find a buyer within six months, despite slashed prices
‘The market is dead for flats,” says Susan Young*, who has been trying for some time without success to sell her two-bed flat in a popular Devon seaside resort.
The first-floor property is in “immaculate condition”, Young says, thanks to the £15,000-£20,000 spent on renovations. It has “superb views” across the beach. And, perhaps most crucially, it is a freehold flat, so is untainted by the controversies associated with the discredited leasehold system.
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