Flats haven't been this good value in thirty years

Flats haven't been this good value in thirty years

The price gap between flats and houses in the UK has never been wider in the past three decades and for buyers that's an opportunity worth paying attention to. Zoopla's analysis, published in July 2026, shows the average house now costs 1.7 times the price of the average flat nationally. In cash terms, the typical flat is priced at £193,000 against £327,000 for a typical house, a gap of £134,000. That gap has widened steadily since 2016, when the ratio stood at 1.3 times, as house prices climbed 43% over the decade to 2026 while flat prices rose just over 10%. For anyone priced out of houses, flats have quietly become the more accessible route into ownership.

Where the value is strongest

The best value is outside London. Excluding the capital, a house costs 2.3 times the price of a flat, up from 1.8 times in 2016. The West Midlands leads the way, with houses costing 2.5 times as much as flats, up from 1.8 times in 2016 making flats there a particularly strong buy. The East Midlands and Northwest both sit at 2.3 times, and Yorkshire and the Humber at 2.4 times.

London tells a different, steadier story: a healthy supply of flats and high house prices keep the ratio lower, at 1.9 times. Scotland matches that ratio too and has barely moved in a decade, up just 0.1 times since 2016. That stability comes down to one structural difference: Scotland doesn't have long leasehold, and it shows in how consistently its market performs.

What the selling data tells us

Nationally, flats take an average of eight days longer to sell than houses. In England and Wales, a flat sells in 42 days on average against 33 for a house. In Scotland, both sell in an identical 15 days - a useful benchmark. It shows that flats themselves aren't the reason for slower sales in England and Wales; it's the leasehold system around them. That's a solvable problem, not a fixed feature of flat ownership, and it points directly to where improvement is already underway.

Where buyers should focus their due diligence

Knowing what to check makes leasehold flats straightforward rather than daunting. The main things worth a buyer's attention are the lease length, the service charge and ground rent costs, and the pace of conveyancing. Around a fifth of leasehold listings currently have fewer than 100 years remaining, which is the figure to watch, as it affects both mortgage approval and extension costs. Lenders also look closely at running costs relative to property value, generally wanting combined service charges and ground rent to stay under 1% of the property's price. None of this makes a flat a weaker purchase - it simply means the details are worth understanding upfront, and a good agent or solicitor can talk a buyer through exactly what a specific lease means in practice.

Reform is already on the way

Momentum is building to make leasehold simpler and fairer. The Commonhold and Leasehold Reform Bill is progressing through Parliament, with Royal Assent targeted for as soon as 2027. The proposed changes include a £250 annual ground rent cap, a simplified route from leasehold to commonhold ownership, a requirement for new flats to be built as freehold going forward, and the end of the forfeiture regime. These reforms are not yet law, but their direction is clear, and they're designed to remove exactly the friction that currently makes leasehold flats feel more complicated than they need to be.

The value case for buyers

Flats are 40% cheaper to buy than houses - the best relative value they've offered in thirty years. For buyers priced out of houses, or who'd rather prioritise location over property type, that gap changes the affordability equation significantly. And the ingredients of a good flat purchase are well understood: a well-managed building, a long lease, stable service charges, and transparent ground rent terms. Get that right, and a leasehold flat is a strong, straightforward buy in today's market.

Talk to our team about how much further your budget could go with a flat.