TV spotlight on flat sale

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TV spotlight on flat sale

Friday November 18, 2011

A ground floor flat in Shepherds Bush that was sold for £36,000 above market value has been featured on a BBC television programme.

“Homes under the Hammer” followed the sale of a council property on Coningham Road that was originally valued at £185,000 but was actually sold by auctioneers Savills for £221,000.

Cllr Andrew Johnson, Cabinet Member for Housing, said: “We are absolutely delighted to have received well above the market value for this property. This is a fantastic deal for taxpayers because the proceeds of this sale will go towards improving council housing across the borough as well as helping to create new supply for rent or low cost home ownership.

“The council is returning to housebuilding for the first time in more than 30 years, through the creation of a local housing company, so that local people who have priced out of the housing market can buy affordable homes in the borough and this cash windfall will help us to realise that ambition.”

You can watch “Homes under the Hammer” on the BBC iPlayer (opens new window) until 10.59am on Tuesday November 22.

» Send us your comments now

I am an estate agent working in one of the local offices in the area on King St. I have been working in the area for about a year and have sold many flats. Even with out seeing the details or knowing much about the property I think the council may have been ripped off!! An average small one bed flat on Coningham Road which requires total refurb can fetch in the region of 245K!
So I am not entirely sure what the council is happy about. Please make sure you speak to the local agents before putting anything on the market as in the current market we are sometimes able to achieve sales even quicker than Auction.
Ben
From BenP on 22/11/2011 at 14:38

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