A one-bedroom flat for sale on an East London estate has sparked incredulity over the city's property prices. The first floor apartment at Sidney House in Bethnal Green is on sale for £350,000, and a video tour on TikTok gives us an insight into what that gets you.
Posted by estate agent Simon Taylor, who goes by the handle @propertywithsimon, the video starts with a walk along the raised walkway outside the flats looking out to the car park before diving inside to see a neat and smartly decorated flat with a reception hallway leading through to a living room described as a 'through reception space'.
There's room for a decent sized sofa and home working space as well as a keyboard - clearly lived in by a musician as a guitar hangs on the wall too. A small balcony next to the living room looks out over a green space with several more high rise housing blocks behind it.
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You can watch the video below
A 'dining table' which is a breakfast bar style flap attached to the wall that pulls down, separates the living room from the kitchen when in use. The bathroom is separated from the toilet, which is in its own room next door, and Simon describes how there is "loads of storage" in hallway cupboards.
The bedroom has space for a double bed, wardrobe and a dressing table with room to move around and get dressed. While it's clear the current owners have made good use of the space and kept the flat in good condition, the location, size and price are something of a mismatch in many people's eyes, according to the comments on the video.
One person simply commented: "Ex-council property shouldn't be that much!" While another said: "[You could] get a literal 5 bed with en-suites up north for that price."
Another added: "UK and in particular London prices are an absolute joke. That ought to be about £150K." There were plenty of similar comments but in reply to one asking how it could cost that much, estate agent Simon said: "It's next to Victoria Park, a premium location. Think Manhattan / Central Park."
He added that another one-bedroom flat at Sidney House "sold for £310k in April 2017. So £350k is in line with average house prices growth since then".
Properties in London had an overall average price of £709,010 over the last year, according to Rightmove. The majority of sales were flats, with an average price of £545,781. In Bethnal Green specifically the average sale price during that time was £600,812. Again it was flats that were the most common properties to change hands at an average of £534,141.
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