{"id":41494,"date":"2025-08-03T18:59:14","date_gmt":"2025-08-03T18:59:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/41494\/"},"modified":"2025-08-03T18:59:14","modified_gmt":"2025-08-03T18:59:14","slug":"is-this-britains-most-overpriced-flat-apartment-in-trendy-north-london-compared-to-a-shed-after-being-put-on-sale-for-1m-can-you-spot-why","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/41494\/","title":{"rendered":"Is this Britain’s most overpriced flat? Apartment in trendy North London compared to a SHED after being put on sale for \u00a31m – can you spot why?"},"content":{"rendered":"

London<\/a>‘s property market has always been an enigma and one ‘optimistic’ listing perhaps perfectly encapsulates this – for all the wrong reasons.\u00a0<\/p>\n

Although, properties that would struggle to sell for\u00a0\u00a3200,000 in other parts of the country are routinely snapped up for three times that in the capital.\u00a0<\/p>\n

Demand has exploded in areas of London’s commuter belt – or on the outer verges of the capital itself in recent months, bucking the trend of the rest of the nation where prices have dipped.\u00a0<\/p>\n

The average UK home was worth \u00a3265,497 in April which was down 2.7 per cent on the previous month but up 3.5 per cent compared to the previous year.<\/p>\n

Meanwhile the average London property was priced at \u00a3566,614 in April, following a rise of 2.6 per cent month-on-month, and a 3.3 per cent gain annually.<\/p>\n

But house-hunters on Reddit<\/a> this week were aghast at one property which has been advertised for a cool one million pounds suggesting that there is indeed a limit to some buyers’ patience.\u00a0<\/p>\n

The listing in question is a studio attic flat in trendy Dalston, which has been described as an ‘exceptional Victorian warehouse conversion’.<\/p>\n

Estate agents\u00a0Savills<\/a> were certainly pleased with the property, writing: ‘This authentic conversion retains a wealth of original features, including exposed timber beams, skylights, wooden flooring, and a striking open-plan layout encompassing the kitchen and bedroom.<\/p>\n

\"A <\/p>\n

A studio attic flat in trendy Dalston, which has been described as an ‘exceptional Victorian warehouse conversion’<\/p>\n

\"Prospective <\/p>\n

Prospective owners of the flat however were less impressed, criticising the layout of the apartment<\/p>\n

\"An <\/p>\n

An estate agent from the firm told the Daily Mail the property had been on the market for eight weeks with no offers made<\/p>\n

‘A unique highlight is the original winch, a remnant from the building’s history as a spice factory. The apartment enjoys a large window with views over the canal and the city.’<\/p>\n

Prospective owners of the flat however were less impressed, criticising the layout of the apartment and the fact it was listed as a one bedroom when it was a studio and, of course, the price.\u00a0<\/p>\n

In a scathing thread titled ‘Slapped a kitchen and chair in an attic, and put a one mil \u00a3 price tag’, many house hunters ridiculed the ‘cheek’ of the listing.\u00a0<\/p>\n

One said: ‘Truly. Truly unhinged. Who is paying a mill to live in an attic in Dalston?’<\/p>\n

Another proffered: ‘Does anyone else remember when being a millionaire was a big deal? Now apparently all it gets you is a shed. A shed in the sky.’<\/p>\n

‘The price is wildly ambitious,’ scoffed another.\u00a0<\/p>\n

According to property aggregator Houses for sale and to rent<\/a>, the average cost of a one-bedroom flat in the trendy London enclave is\u00a0\u00a3466,348 – making the property more than \u00a3500,000 over the odds.\u00a0<\/p>\n

\"\" \"\" \"It <\/p>\n

It would be fair to say reaction to the listing was very mixed on social media\u00a0<\/p>\n

The property was last sold in 2002 for the sum of\u00a0\u00a3325,000, a price that many on the thread were also incredulous of.\u00a0<\/p>\n

One said: ‘As a single guy I like this. Kinda cool, nice location, decent size for one person and looks like fun, though maybe a bit noisy in the rain.<\/p>\n

‘But a million quid….Last sold in 2002 for \u00a3325k which even then sounds way over the top.<\/p>\n

‘And \u00a31500 a year service with unspecified ground rent.’<\/p>\n

An estate agent from the firm told the Daily Mail the property had been on the market for eight weeks and is yet to receive an offer.\u00a0<\/p>\n

The agent said the listing’s sky high price was due to its central position along the basin and the price per square foot of London properties.<\/p>\n

The online furore comes hot on the heels of another property storm that puzzled residents of Hove last week.\u00a0<\/p>\n

An elderly couple infuriated house hunters online after listing their home for almost \u00a32million over the average sale price of their street.\u00a0<\/p>\n

Residents\u00a0reacted with ‘shock’ and ‘disbelief’ after the ordinary looking property in Hove, East Sussex, was put on the market for a staggering \u00a32.5million.<\/p>\n

The asking price for the smartly presented property has caused consternation among potential buyers who have claimed it is ‘overpriced’.<\/p>\n

They claim that although the red brick home has a sought-after seaside location, it actually backs on to a block of high rise flats and sits on a busy road which has a high crime<\/a>\u00a0rate.<\/p>\n

The owners – who are in their late 80s – bought the property in East Sussex in 2010 for \u00a3750,000 but have now put it on the market for more than three times that amount.<\/p>\n

According to property experts Purplebricks<\/a>, the average cost of a house on the street where the couple are looking to sell is \u00a3600k.<\/p>\n

One resident told the Daily Mail: ‘I’m shocked. It’s incredible how much house prices have risen in the last 15 years but I’d never expect a house to be on the market for so much – it’s a King’s ransom.<\/p>\n

‘It’s unbelievable really. I understand it is in a desirable location but this road is very busy all the time and the back garden looks out over the flats – not exactly a beautiful view.’<\/p>\n

\"An <\/p>\n

An elderly couple looking to downsize from their three-bedroom home have drawn the ire of some house hunters online<\/p>\n

\"The <\/p>\n

The \u00a32.5million house sits on Third Avenue in the upmarket Hove and is just 100 yards from the pebble beach<\/p>\n

The house sits just 100 yards from the pebble beach.<\/p>\n

The elderly couple are understood to be selling it so they can downsize away from the seafront.<\/p>\n

Hove is a well-heeled and desirable location to live where the average price of a detached house is \u00a3846,600.<\/p>\n

Neighbour Barbara Crafts, said: ‘They are a lovely couple but they’re getting on.\u00a0<\/p>\n

‘Although the house only has three bedrooms it is deceptively large and the bedrooms are huge and have walk-in dressing rooms.’<\/p>\n

Mrs Crafts, who is in her 70s and lives in a spacious three-bedroom flat on the street, said: ‘Although it looks quite ordinary from the front it is a lovely house and very spacious and they’ve spent some money doing it up.<\/p>\n

‘I’ve lived here for around eight years and my children who live up north are always telling me to sell. They tell me I could buy a fantastic property near them for just a fraction.’<\/p>\n

Viewers checking the online listing questioned how the ‘modest’ home could command such a high price.<\/p>\n

One said: ‘Those flats overlooking the back would be an instant no for me even if dirt cheap. Half the house is the master suite. Seems unnecessary.’<\/p>\n

Another said: ‘\u00a32.5m is insane money for this. Surely its not worth even close to that. Even at half, it would be steep, no?’<\/p>\n

Another viewer said: ‘How much!? And why does that main bedroom need two dressing rooms and such a huge bathroom?! Should have just made one of the dressing rooms a guest room instead.’<\/p>\n

Yet another said: ‘Faaaaar too much.Front of property faces west, back faces east. Front faces a row of guest houses\/hotels including a God awful 60’s(?) 5 story guest house directly opposite.\u00a0<\/p>\n

‘Back faces an 11 story block of flats. So, no privacy and no sunlight in the morning or evening.’<\/p>\n","protected":false},"excerpt":{"rendered":"London‘s property market has always been an enigma and one ‘optimistic’ listing perhaps perfectly encapsulates this – for…\n","protected":false},"author":2,"featured_media":41495,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,97,59,50,621,56,54,55],"class_list":{"0":"post-41494","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-dailymail","10":"tag-gb","11":"tag-news","12":"tag-reddit","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/41494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=41494"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/41494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/41495"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=41494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=41494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=41494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}