"It is not widely known that around one in ten properties currently for sale across the UK are, in fact, probate properties"
- Ryan Gregory - Finders International
In recent years, we have seen a striking rise in derelict, long-neglected houses entering the market through probate estates – and selling for sums in excess of £1 million.
From the vantage point of our work as probate genealogists, a professional service often more widely recognised by the public as heir hunters, we have noticed an increase in dilapidated, hoarded, or structurally unsound dwellings, many left empty for more than five years. Yet they still command eye-watering prices when finally brought to auction or private sale.
What is driving this? Two key forces are at play: the growing share of probate sales in the housing market and the remarkable transformation of once-overlooked neighbourhoods into highly desirable addresses.
It is not widely known that around one in ten properties currently for sale across the UK are, in fact, probate properties. Industry analysis, including reports from Today’s Wills & Probate and Ives & Co, highlights just how prevalent this area of the housing market has become.
The scope of values is broad, ranging from modest terraced houses to substantial period family homes. Those edging towards or beyond the million-pound mark are typically larger properties in locations that, over the decades, have undergone gentrification and seen soaring demand.
Take South London, for example. A probate case we handled most recently involved a large, stuccoed end-of-terrace on Asylum Road in Peckham. Despite its derelict condition and uninhabitable state, it sold for just under £1 million. This is far from isolated—across the capital and beyond, similar situations are emerging.
But there is a significant problem with probate properties in this state: they are notoriously difficult to sell on the open market. Mortgage lenders and banks are reluctant to finance purchases of homes that require major renovation, largely because of the many unforeseen costs. As a result, such sales often rely heavily on cash buyers, investors, or developers willing to take on the risk.
For families and executors managing estates, this can create a complex scenario. While the property itself may command a strong headline figure, the route to sale is rarely straightforward. Executors must balance the need to realise the asset quickly with the realities of securing a buyer who has both the resources and appetite to tackle the renovations.
There’s also a wider societal point to consider. The UK continues to face acute housing shortages, and yet tens of thousands of properties lie empty – many tied up in probate. Streamlining the process of bringing these homes back into use, whether through better access to finance, incentives for renovation, or improved estate management, could help ease housing pressures while preserving the architectural fabric of our towns and cities.
Probate properties will always be part of the housing market, but what we’re seeing now is a confluence of high demand, gentrified locations, and limited supply pushing even the most dilapidated homes to astonishing price levels. For those of us working in probate, these cases highlight both the opportunities and challenges inherent in managing estates in today’s property landscape.
