Buying a two bedroom flat.

If you’re in the market for a two bedroom flat then it’ll probably come as no surprise that to get into the market you’ll need a hefty whack of cash. They’ll typically set you back between £400k for the most basic to over £900k if you want a top spec pad in Parsons Green or with river views. Whatever level you’re buying at though you’ve got to do your research and make sure you know what’s a fair deal, getting a great deal is unfortunately unlikely - unless you’re prepared to brave the auction rooms or do some of your own leafletting on your days off. Even then you’ll be up against others just like you clamering for a bargain which may take sometime and never materialise. You will however have no problem picking up a stinker if you’re not careful.

Because the two bed flat market bridges a wide range of prices, it is large. It’s probably the largest market in Fulham, dwarfing one beds or even houses. In this vast spectrum of flats there lurks the good, the bad and the ugly. Supporting the pyramid of available properties are the ugly - these flats are the unsaleable, usually put on the market at the wrong price by agents trying to win instructions or very optimistic sellers. It’s not that they’re bad flats parsé but that you’ll get more for your money, so best stay away. The bad are the ones that on the face of it appear like a good deal until further digging reveals that they’re actually compromised by size, location, lease length or worse still dodgy neighbours. Which brings us to the good. These are the ones that are snapped up after only a couple of days on the market or even before they reach the market in some cases. It’s not that they’re under priced - it’s just that they’re the ones at the right price and shine through the mass of the others like a diamond in the rough. You don’t have to be a mineral expert to spot these, once you know the market in your price bracket they’ll be as obvious to you as pyrite to a gold digger.

The flat market in Fulham can loosly be divided into three levels, depending on cost, location, size and whether it’s a wreck inside or not. Your budget will determine where you can buy but if you’re after more space or a nice finish you should always be able to find what you’re looking for provided you compromise on the location.

The closer you get to parsons green the more you’ll need to fork out

AFFORDABLE
£400-550k (500-750sq ft)

If you’ve got between £400k and just over the 3% stamp duty threshold at £500k then you’ll be able to pick up a two bed, but it’ll be further from the edges of Parsons Green (the vortex from which prices spiral up to - see infographic). Assuming you’re after something a little bigger than 500sq ft then I’d recommend the roads running off the north end of Munster Road, such as Bronsart Road, Rowallen and Allestree. This little block of roads currently represent good value in comparison to the hefty prices achieved only a few roads to the South.

The other place you should consider is Sands End. The area has traditionally been thought of as a grade below the usual Fulham stock, however with the increase in prices elsewhere, the new overground station at Imperial wharf coupled with the grand re-development plans across the Southern section of the river it has a rosy future ahead of it. Here you’ll be able to get a good sized flat up to 750sq ft for your money, many also still have potential for extension. The better roads are located within the ‘Bury Triangle’, so named because all the roads end in ‘bury’. Houses sell here for over £1.2m and it is increasingly on developers hot lists which is a sure sign for future price increases.

MID-RANGE
£550-750k (600-1,100sq ft)

If you’ve got a bit more buck then you’ll be looking at a similar size property but in a superior location. Parsons Green will still be out of reach, but you’ll likely be within under a 10 minute walk from the underground. Expect to buy on a good road and to be able to move quickly, desirable locations are the first to go. You’ll be able to get a good sized garden flat, but anything larger, even the upper maisonettes in Munster Village (Danehurst Street and Wardo Avenue) may just be out of reach. The block of roads running off the Fulham Road (from Felden to Clonmel) are a great choice if you can find one. If you’re after more space (1,000 sq ft) then you’ll be able to get an extended upper flat in the Bury Triangle for around £600k. Another good bet are the various mansion blocks including the idylic Queens Club Gardens in Barons Court and West Brompton (the area between Fulham Broadway and West Brompton underground stations). Prices here have increased dramatically even though the rather unsightly Northend Road fueled by the enormous Clematlee council estate borders the western edge. Although you can’t beat the transport links and Northend road does have a superb market selling fresh fruit and vegetables on most days.

TOP-END
£750-900k (up to 1,300sq ft)

Expect nothing short of the best locations in Fulham, think central Parsons Green with it’s immaculate residential streets, the glimmering Imperial Wharf on the river and the Moore Park estate with it’s proximity to Chelsea. In these locations you’ll be asked to fork out up to £1000 a sq ft for the privelage. If you want more space then a good compromise is the converted split level maisonettes (with their own front doors) on Wardo Avenue and Danehurst Street complete with roof terraces. Here you’ll get over 1,000 sq ft with either a large master suite in the loft space or a mezzanine kitchen with double height ceilings in the reception room. Another option is to buy a delapidated flat for a price out of reach of the developers (who are looking for a margin) and still have enough money to extend it and do it up in your own style. Both the upper and lower un-extended garden flats in Fulham start off at being up to 650 sq ft but there’s potential to increase both by up to 400 sq ft or more if you’re clever.

Whatever your price range make sure that you’re buying on a good road or not overpaying on a road that’s inferior. You’ll be surprised how many flats come on to the market at an inflated price - at the lower end the listed price is often not the price the property sells for. Whereas at the upper end of the market the demand for location is so great that you may have to pay over the odds to secure the perfect buy. Happy hunting.