6 minute read posted by If you're currently trying to sell a flat in Bromley, you may have noticed that the market feels very different to the one we experienced a few years ago.
While well-presented and correctly priced houses are still attracting buyers, the market for flats has become considerably more challenging.
At Mark Hart Real Estate, we're seeing a much more selective buyer than we have in previous years. Properties can still sell, but buyers have more choice, are doing far more due diligence and are increasingly cautious about taking on properties with high ongoing costs.
So, what's happening?
The Bromley property market isn't one single market
One of the biggest mistakes homeowners can make is looking at a headline saying that "house prices are up" or "house prices are down" and assuming that applies equally to every property.
It doesn't.
A three-bedroom family house in Petts Wood is being bought by a completely different type of purchaser to a one-bedroom leasehold flat in Bromley town centre.
Different property types, price ranges and locations can therefore perform very differently at exactly the same time.
That's particularly noticeable in the current market.
Why are flats proving harder to sell?
There isn't one single reason.
1. Service charges have become a major consideration
Buyers are paying far more attention to service charges than they perhaps did historically.
A flat might initially appear affordable, but a substantial annual service charge changes the monthly cost of owning it.
Buyers are increasingly asking:
- How much is the service charge?
- How much has it increased?
- What does it actually cover?
- Are there major works planned?
- Is there a reserve fund?
- Could the service charge increase significantly again?
That means two seemingly identical flats can attract very different levels of interest depending on the lease and running costs.
2. Mortgage affordability remains important
Higher borrowing costs have inevitably changed what buyers can afford.
Someone who could previously stretch their budget to a certain purchase price may now be looking lower, particularly once mortgage repayments, service charges and other living costs are taken into account.
For first-time buyers, traditionally a hugely important part of the flat market, affordability is particularly important.
3. Buyers have become much more aware of leasehold issues
Ground rent, remaining lease length, service charges and management arrangements are increasingly being scrutinised before buyers commit.
We've previously written about why certain ground rent clauses can cause difficulties with mortgage lenders.
These aren't necessarily reasons a flat can't be sold, but sellers need to understand that buyers and their solicitors are looking much more carefully at the details.
4. Flats face competition from houses
This becomes particularly noticeable at certain price points.
If a buyer can purchase a flat for £400,000 but can stretch slightly further and buy a small freehold house, some will choose the house.
They may get a garden, their own front door, no service charge and greater control over the property.
That creates a ceiling on what buyers are prepared to pay for some flats.
Price is becoming increasingly important
This is probably the biggest conversation we're having with sellers in the current market.
You cannot price a property based solely on what another property sold for several years ago.
You also cannot necessarily price it based on what another flat in the building is currently advertised for.
An asking price isn't evidence of market value. A completed sale is.
The question isn't:
"What would I like to achieve?"
It's:
"At what price will today's buyers choose my property over everything else currently available?"
There is an important difference.
The danger of starting too high
A common strategy is:
"Let's try £425,000 and if we don't get any interest, we'll reduce it."
That can sometimes work.
But in a difficult market, it can also have the opposite effect.
The first few weeks of marketing are incredibly important. That's when a property is new to Rightmove and buyers who already have alerts set up see it for the first time.
If those buyers believe it's overpriced, they don't necessarily make a lower offer.
Often, they simply don't view it.
Several weeks later the price is reduced, but by then buyers have already seen the property multiple times and start wondering why it hasn't sold.
Correct pricing from day one has therefore become increasingly important.
Does this mean flats aren't selling?
Absolutely not.
Flats are still selling across Bromley.
Current sold-price data shows flats continue to account for a significant proportion of transactions in the borough.
What has changed is the level of competition.
The flats performing best tend to be those that combine several things buyers currently want:
- Sensible pricing
- Good presentation
- Reasonable service charges
- A healthy remaining lease
- Good transport links
- Outside space or a balcony where available
- Parking where relevant
- Good natural light
- A straightforward leasehold position
When those fundamentals are right, there are still buyers.
Houses are experiencing a different market
We're seeing much stronger demand for certain family houses, particularly where there is limited comparable stock available.
Good family homes in desirable parts of Bromley remain attractive because there is naturally a more limited supply of them.
This demonstrates why describing something simply as "the Bromley property market" can be misleading.
There are multiple markets operating simultaneously.
A seller of a family house and a seller of a modern leasehold apartment may have completely different experiences despite living half a mile apart.
Our advice to Bromley sellers in 2026
If you're considering selling, don't base your expectations entirely on online estimates or what a neighbour's property is advertised for.
Look at:
- What has actually sold
- How recently it sold
- Current competing properties
- How long those properties have been available
- Whether asking prices have been reduced
- Your property's condition
- Lease and service-charge information where applicable
- What buyers are actually telling agents
Most importantly, be realistic about the market you're entering.
There are buyers out there.
But particularly when selling a flat, pricing and presentation matter more than ever.
At Mark Hart Real Estate, we'd rather have an honest conversation about the market at the beginning than promise an unrealistic price simply to win an instruction.
Ultimately, our job isn't to put your property on Rightmove.
It's to get you moved.
If you're thinking of selling a property in Bromley and would like an honest assessment of its value and the current level of buyer demand, speak to the team at Mark Hart Real Estate.
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