Full Breakdown
Family Raffles £325,000 Seaside Home Amidst Market Struggles
12/15/2025, 6:51:32 AM
Unique Selling Strategy for a Seaside Property
The Bailey family, originally from Manchester, has opted for an unconventional method to sell their two-bedroom seaside flat in Rhoscolyn, Anglesey, by launching a raffle priced at £5 per ticket. The property, valued at £325,000, had been on the market for a year without success, prompting Jennie Bailey, 43, to seek alternative solutions after reducing the asking price from £365,000 to £325,000. The family, which includes Jennie, her husband John, 45, their sons Henry, 11, and Sebastian, 9, and their cocker spaniel Dylan, found the flat increasingly cramped as they transitioned from using it as a holiday home to their permanent residence.
Raffle Details and Financial Considerations
The Baileys aim to sell 150,000 tickets by January 1, 2024, to meet their financial goals. As of the latest reports, they had sold over 50,000 tickets. However, they will not receive the full £750,000 from ticket sales, as 10% will go to the online platform facilitating the raffle, along with deductions for legal fees, stamp duty, and marketing costs. If the ticket sales do not meet the target, the family will retain ownership of the property, and the winner will receive half of the funds raised, with the remainder allocated to expenses.
Community Reaction and Personal Sentiments
Jennie Bailey faced skepticism from friends and community members regarding the raffle, with some labeling the idea as "bonkers." Despite this, she remains optimistic, stating that the raffle provides an opportunity for individuals who may not afford such a property. She emphasized, “If you don’t like it, just don’t enter.” The emotional weight of leaving the home, which holds significant sentimental value for her, is compounded by her father's recent passing, leading her to recognize the need for a new chapter in her life.
Insights from Industry Experts
Stelios Kounou, founder and CEO of Raffall, noted that while house raffles have gained some traction since their inception on his platform in 2020, the success rate remains low, with only 18 out of 54 attempts resulting in property exchanges. He acknowledged that those who pursue such raffles must be prepared for the challenges involved, stating, “People who do this know the probability of success might be low but... the time risk is worth the possible reward.”
Conclusion and Future Prospects
As the Bailey family continues their raffle campaign, they remain hopeful that ticket sales will increase as the deadline approaches. Jennie Bailey is committed to the process, balancing her time between the raffle and her handmade home decor business. She expressed her desire for the next owner to enjoy the property as much as her family has, stating, “It would be amazing to see someone else enjoy this like we've done.”
