One-bedroom flats are one of the most common types of flats in the UK.
They are a popular choice with many buyers, including first-time buyers.
So, there is both a high demand for them and a high supply of them on the market.
So, are one-bedroom flats difficult to sell?
Read on to find out.
What is a one-bedroom flat?
A one-bedroom flat is a flat with one bedroom that is separate from other spaces in the house.
In general, they are one of the least expensive types of property. However, they are popular in urban areas where property prices are at their highest.
One-bedroom flats vs studio flats
The main difference between one-bedroom and studio flats is that the former have separate bedrooms and living spaces.
One-bedroom flats are often larger than studio flats.
This is why, on average, studio flats are cheaper than one-bedroom flats. However, there are exceptions to this rule.
Rental prices for one bedroom flats
Between August 2023 and August 2024, Office of National Statistics data found that the median monthly rent for a one-bedroom flat in the UK is £720. This is considerably higher in London, at £1,280.
You will find one-bedroom flats in every part of the UK. They are not restricted only to major cities.
Who lives in one bedroom flats?
Data shows that 21.7% of people in the UK live in a flat. And over a quarter of these are expected to be one-bedroom flats.
Depending on location, they are an affordable type of property for people on smaller budgets, including first-time buyers.
Advantages of one-bedroom flats
You unlock several significant advantages when you live in a one-bedroom flat.
1. Privacy
Privacy is one of the most important benefits. You won’t be forced to live with anyone else.
2. Low cost to buy
Affordability is another huge advantage. One-bedroom flats are less expensive to buy than an equivalent property with more bedrooms.
3. Low maintenance costs
Your monthly expenses are usually lower in one-bedroom flats.
You have less space to heat up and electricity in.
It’s also easier to decorate or refurbish than most other property types.
And less maintenance and cleaning is needed.
Is it hard to sell one-bedroom flats?
On average, flats take longer to sell than other kinds of property.
Data from Zoopla suggests that one-bedroom flat are neither the easiest nor hardest type of property to sell.
On average, they take 37 days to sell, ranking sixth out of the ten property types they looked at.
Of course, this information applies to selling flats on the open market with estate agents…
Alternative sellers
Those looking to sell a flat quickly can consider alternative property selling channels, including:
- Cash property buyers
- Property auctions
- Private sales.
Each of these options comes with its own pros and cons.
For example, cash property buyers are the quickest and most guaranteed way of selling. But they offer a below-market value.
And property auctions offer relatively quick but not guaranteed sales.
Location matters
Your location significantly impacts how quickly you can sell a one-bedroom flat.
In London, a one-bedroom property’s median selling time is 74 days. Meanwhile, in Cardiff, it’s only 64 days. And other areas have widely difference averages:
- Edinburgh: 57 days
- Belfast: 80 days
- Manchester: 66 days
- Plymouth: 59 days
- Swansea: 116 days
- Inverness: 31 days.
As you can see, there’s a vast range depending on your location. You’ll also need to price your property fairly and select a proactive estate agent.
Make sure your lease length isn’t too short when you list it on the market. A short lease can deter buyers and delay the sale of your flat.
Will one-bedroom flats be hard to sell in the future?
Some experts predict that one-bedroom flats will be more ‘in demand’ in the future.
This is related to supply and demand.
Data collected by Unlatch shows that in a recent calendar year, one-bedroom properties accounted for just 6% of all homes built in the UK.
Other professionals in the industry think that demand for one-bedroom flats will decrease.
That’s because getting onto the housing ladder is most affordable when you move in with someone else, as your combined income increases the amount you can borrow.
Only a couple in a relationship would be willing to buy a one-bedroom flat under these circumstances.
Why are some people reluctant to buy one-bedroom flats?
Single buyers’ lack of purchasing power
It can be challenging to save up for a property when you aren’t moving in with someone else. Your combined incomes and deposits make it more affordable.
It’s rare to buy a one-bedroom flat with someone else. So, many people are finding someone else to own a two-bedroom flat with jointly.
Lack of space
One-bedroom flats are also smaller than almost all other types of property. It means that you need more space to move around in.
There’s likely to be fewer storage areas, which can be challenging if you’re downsizing.
Lack of privacy
There may be communal rules that come with a one-bedroom flat, which limit your choices. It’s also possible that you’ll be disturbed by neighbours through your shared walls, ceilings and floors.
If you are in a ground-floor flat, you might also find that other residents frequently pass your flat.
Leasehold drawbacks
Your one-bedroom flat will often be a leasehold with certain limitations and extra costs.
You’ll need to pay a service charge and ground rent. And it costs several thousand dollars to extend your lease.
Tips for selling a one-bedroom flat fast
The steps for selling a one-bedroom flat are largely similar to the steps for selling any kind of flat.
Asking price
Your asking price is one of the most essential steps in selling a property.
Don’t allow yourself to be tricked by estate agents exaggerating what’s realistic.
Do your research on similar one-bedroom flats in the area, and what these have sold for in recent months.
Choose an estate agent
You should also carefully choose your estate agent.
Check their online reviews and speak to them directly to understand the network of buyers they can contact.
Stage your flat well
Remove clutter and clean your flat before any viewings.
This is especially important when you take photos for listings and stage your flat for viewings.
Prepare documentation
You need to get the relevant property documentation sorted early on.
For instance, if your lease length is very short, this will considerably slow down a sale as a buyer will be hesitant or negotiate harder.
Make sure you have the Energy Performance Certificate (EPC) and all relevant gas and electrical documents.
Are some estate agents better than others at selling a one-bedroom flat?
Yes, some estate agents have a wider audience of potential one-bedroom flat buyers than others. They might also have more local experience in your area.
Of course, this isn’t just specific to one-bedroom properties: you should pick your estate agent carefully, no matter the size of your house.
Checks to make on estate agents
Speak to estate agents in-person and ask for proof of sales they’ve completed recently.
You should also check online reviews to see if any satisfied one-bedroom flat owners write about their experiences.
If they’ve still got one-bedroom flats listed on the market from over 6 months ago. If they do, this could be a warning sign.
