Insights: property data
The J Scott Flat Market Index 2026: are flats falling behind houses?
In most of the towns we track, the answer is yes. Comparing like with like, the J Scott Flat Market Index 2026 found that resale leasehold flats lagged resale houses by between 8 and 15 percentage points between the first half of 2022 and the first half of 2026 in Slough, Luton, Milton Keynes, Canary Wharf (E14) and Windsor and Maidenhead. In Reading, flats kept pace.
Last updated November 2026 | By Tamseel Din, Director, J Scott & Co Solicitors
- Gap between flats and houses in Slough since 2022
- 15.3 points
- Fall in resale flat sales in Luton, 2022 to 2025
- -35.7%
- Fall in new-build flat sales in E14, 2022 to 2024
- -56%
- Reading resale flats, the one town where flats kept pace
- +2.3%
Flats versus houses, like for like
Resale homes only (homes that had been lived in before), January to June 2022 compared with January to June 2026. New builds are left out because the mix of new flats changed sharply and because new builds take longer to appear in Land Registry data.
| Area | Resale flat median 2022 | Resale flat median 2026 | Flats | Houses | Gap |
|---|---|---|---|---|---|
| Slough | £230,000 | £215,000 | -6.5% | +8.8% | 15.3 points |
| Luton | £162,500 | £155,000 | -4.6% | +7.4% | 12.0 points |
| Milton Keynes | £175,000 | £167,750 | -4.1% | +7.5% | 11.6 points |
| E14 (Canary Wharf, Isle of Dogs, Poplar) | £453,000 | £430,000 | -5.1% | +5.3% | 10.4 points |
| Windsor and Maidenhead | £318,500 | £290,000 | -8.9% | -0.8% | 8.1 points |
| Tower Hamlets | £450,000 | £435,000 | -3.3% | 0.0% | 3.3 points |
| Reading | £220,000 | £225,000 | +2.3% | +2.8% | 0.5 points |
| Area | Flats | Houses |
|---|---|---|
| Slough | -6.5 | 8.8 |
| Luton | -4.6 | 7.4 |
| Milton Keynes | -4.1 | 7.5 |
| E14 | -5.1 | 5.3 |
| Windsor and Maidenhead | -8.9 | -0.8 |
| Tower Hamlets | -3.3 | 0.0 |
| Reading | 2.3 | 2.8 |
Fewer flats are selling
Resale leasehold flat sales fell faster than house sales between 2022 and 2025 in Luton, Milton Keynes and Slough. In Tower Hamlets the opposite happened: flat sales held up better than houses.
| Area | Resale flat sales 2022 | 2025 | Flat sales change | House sales change |
|---|---|---|---|---|
| Luton | 333 | 214 | -35.7% | -10.0% |
| Milton Keynes | 693 | 484 | -30.2% | -4.3% |
| Slough | 378 | 277 | -26.7% | -9.2% |
| E14 | 871 | 747 | -14.2% | -11.8% |
| Reading | 675 | 593 | -12.1% | -8.0% |
| Windsor and Maidenhead | 519 | 471 | -9.2% | -8.4% |
| Tower Hamlets | 2,112 | 2,038 | -3.5% | -11.9% |
The new-build flat drought
The biggest change is not in resale flats but in new ones. New-build flat sales fell sharply between 2022 and 2024 across the areas we track.
| Area | New-build flat sales 2022 | 2024 | Change |
|---|---|---|---|
| Luton | 60 | 11 | -82% |
| Reading | 241 | 47 | -80% |
| E14 | 847 | 371 | -56% |
| Tower Hamlets | 1,505 | 661 | -56% |
| Slough | 141 | 74 | -48% |
| Windsor and Maidenhead | 211 | 138 | -35% |
| Milton Keynes | 161 | 132 | -18% |
Fewer new flats means most flat buyers are now buying a resale, where the lease, service charges and building safety paperwork matter more than ever.
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Why flats are struggling
The data shows what happened, not why. From our conveyancing work, the issues that most often slow or stop a flat sale are a short lease, ground rent that rises over time, high or uncertain service charges, and missing building safety documents for taller buildings. Each makes lenders more cautious, and a buyer who cannot get a mortgage cannot buy. Houses carry none of these issues, which is one reason the two have drifted apart.
Selling a flat: what to have ready
- The managing agent’s leasehold information pack, ordered when the flat goes on the market rather than after an offer.
- The lease, and the number of years left on it. Consider extending first if it is approaching 80 years.
- Three years of service charge accounts and budgets, and details of any major works planned.
- For a building at least 11 metres high or with at least five storeys, the leaseholder deed of certificate and any fire safety evidence a buyer’s lender may ask for.
Buying a flat: what to check
- How many years are left on the lease; many lenders want well over 80.
- How the ground rent can change over time.
- What the service charge covers, the size of the reserve fund and whether major works are coming.
- Whether the building needs remediation and who will pay for it.
How we worked this out
We analysed HM Land Registry Price Paid Data for standard residential sales (category A), January 2022 to September 2026. Price comparisons use resale homes only (not new builds) for January to June 2022 and January to June 2026. "Flats" are leasehold flats; "houses" are detached, semi-detached and terraced homes. Sales volumes compare full calendar years 2022 and 2025 for resale homes and 2022 and 2024 for new builds, because new builds take longer to be registered. Medians are not adjusted for size or location within each area. Contains HM Land Registry data © Crown copyright and database right 2026, licensed under the Open Government Licence v3.0.
Cite this data
J Scott & Co Solicitors, Flat Market Index 2026, jscottlegal.co.uk/insights/flat-market-index-2026.
Frequently asked questions
Are flats falling in value?
In most areas we track, resale leasehold flats have fallen while houses have risen. Between the first half of 2022 and the first half of 2026, resale flats fell 6.5% in Slough, 4.6% in Luton and 4.1% in Milton Keynes while houses rose between 7.4% and 8.8%. In Reading, flats rose 2.3%, in line with houses.
Why is my leasehold flat hard to sell?
The most common reasons are a short lease, rising ground rent, high service charges or missing building safety paperwork. Each can put lenders off, which shrinks the pool of buyers. Getting the leasehold pack early and dealing with lease length before you market the flat both help.
How much have Canary Wharf flat prices changed?
In E14, the median resale leasehold flat sold for £430,000 in the first half of 2026, down 5.1% from £453,000 in the first half of 2022, while resale houses rose 5.3%. New-build flat sales in E14 fell 56% between 2022 and 2024.
Should I extend my lease before selling?
Often, especially when the lease is getting close to 80 years. Many lenders are wary below that point, and the cost of extending rises as the lease gets shorter. Your conveyancer can tell you whether a buyer’s lender is likely to raise it.
Is it still worth buying a flat?
It can be. A lower price may be good value if the lease is long, the service charge is reasonable and the building has no safety issues. Your conveyancer should check all of these before you exchange.
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