I own a flat on a nearby council estate. I used to live there, then moved and have had tenants in for the last 6 years. Mostly its been fine. I have good neighbours on my corridor, and I've had good tenants too. It was always a nice place to live when I was there. Re council charges: When I bought the place the seller told me the council had done all the major works he could think of, so I shouldn't be bothered by further major works for a while. However, they do cyclical repairs, I think every 8 years, and that is truly a blank check as they don't know what hidden problems they will find once the scaffolding is up. And they chose the same year (roughly) to refurbish the lift and sort out the drainage problems on the estate. So it was an expensive year. To make it worse, although they bend over backwards to help owner-occupiers with their payments, private landlords are supposed to pay the full whack as the bills roll in (because as we all know landlords are all fatcat millionaires who can fish out a wadge of ?1000 notes from their back pockets whenever asked). Then again, when I called them and explained my situation they allowed me to spread the payments over a year. The normal service charge is usually not too bad. However, one year the final bill was just about double the estimate, and another year I got several hundred pounds back from them! However, if you think about a typical scenario of an old victorian house divvied up into flats, you get a different set of problems - people arguing over what does/doesn't need to be done, nothing being done at all, people not paying their share, neighbours being a nuisance or storing their stuff in communal parts etc. So just like in a council block, you might end up lucky, or you might not. I think my flat has been a reasonable buy, it was well affordable at the time and has risen in value along with every other property in London, though maybe less than a Victorian flat would have. It will always have a bit of a stigma attached as it's a council block and 5 floors high, and that will always be reflected in the buying and selling price. Having said that though I have had 3 sets of tenants and only 3 days' void period in 6 years, so it can't be that bad!