40 Ovington Square, London, Kensington And Chelsea, Greater London, SW3 1LR

Terraced
3434 sq ft
406%
PROPERTY VALUATION
£
Price change: +£8,096,000
Since last sold: March 2001
VALUATION RANGE
£9.74M - £10.44M
LOW OFFER | HIGH OFFER
Confidence: Medium
Good
Condition
Reasonable
Condition
Poor
Condition

At a sale price of £10.09M, we expect this property to need a little bit of work.

UPDATE CONDITION

Property summary Last updated: 05/03/2024

Last updated: 05/03/2024

40 Ovington Square, London is a terraced house spread over 3,434 square feet, making it one of the largest properties here - it is ranked as the 2nd most expensive property* in SW3 1LR, with a valuation of £10,091,000.

Since it last sold in March 2001 for £1,995,000, its value has increased by £8,096,000.

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Essential buying details

  • If no refurbishment work has been carried out since it was last purchased, we expect the property to sell for between £9.74M and £10.44M.

  • The property turned out to be a amazing investment for the previous owner - returning on average 16.2% per annum.

  • 1 terraced house have sold at an average price of £11,100,000 over the last 12 months (in the area coverring SW3 1).

  • At a sale price of £10.09M, we expect this property to be in a substantially better condition than the neighbouring properties.
  • This property has a higher cost per square foot than other properties in the area, which is why we think it is more likely to be in good condition. This can be caused by it having recently been refurbished to a high standard although particularly pretty properties can also sell for a premium.
  • At a valuation of £10.09M it has a cost per square foot of £2,938, which is substantially more than the average for the area. The average cost per square foot for property here is £2,230.
  • If we valued this property using the average cost per square foot (CPSF) - it would be worth £7.66M. For it to sell for this amount, we would expect it to be in a similar state decoratively to the average property here and also have a similar sized plot of land.
  • We use survey data provided by RICS qualified surveyors to obtain the property's size. This is calculated in a slightly different way to how an estate agent will measure a property as it only includes habitable space.
  • To calculate the price per square foot, you divide the property's sale price by its total square footage.
Prices start at:
£1.18M
Average house price:
£4.02M
Most expensive:
£10.75M
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406%
This property has increased in price by 406% since it last sold 23 years ago
151%
This property is 151% more expensive than average in Ovington Square, SW3 1LR

Sale history

The most paid for a property in Ovington Square, SW3 1LR was £7,500,000 in 2017.

Date Price Change
Today's value* £10,091,000 405.8%
01 Mar 2001 £1,995,000 73.5%
02 Jul 1997 £1,150,000 -
40 Ovington Square, London is a terraced house with 3,434 square feet of internal space.
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Valuation details

The most likely sale price is £10,091,000 but at the lower end we think it should fetch a minimum of £9,738,000.

On a cost per square foot basis, this property is valued at 32% more than the other houses in this postcode.

This property has increased in price by £8,096,000 since it last sold in 2001 - this equates to a 7.3% rise each year.

If the property has been refurbished or extended since it was last purchased, tell us about any home improvements to get a revised valuation.

A higher cost per square foot can indicate that the property is in a better condition than the other properties or that it has a bigger garden (for more information see our valuation review) of this property.

If the property was previously purchased in a bad state of repair, making home improvements could increase its sale price to £24,063,000.

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Investment Performance
Annual change: 16.2%

Was It A Good Investment?

The previous owner had the property for 3 years, having purchased it in July 1997 for £1,150,000.

During this time, the price rose by £845,000 (73.5%), which equates to it increasing in value by 16.2% each year.

The property turned out to be a amazing investment for the previous owner.

How does this property compare?

  • Most likely sale price: £10,091,000.
    • Offers likely to be accepted between £9,738,000 and £10,444,000.
    • Cost per squre foot: £2,938 (at a valuation of £10,091,000) - the average cost per square foot for this postcode is £2230.
  • Freehold terraced house.
    • 3,434 square feet.
  • Property energy rating: 73.
    • This is above average for this postcode.
    • A score of 100 is the best energy rating a property can be given.

The local market - SW3 1LR

  • The average property price for this postcode is £4,017,000.
    • Prices here range from £1,176,000 to £10,746,000.
    • Expect to pay £1,895 to £2,564 per square foot for property in SW3 1LR.
  • 3 properties have sold in SW3 1LR over the last 5 years.
  • Ovington Square has 4 postcodes associated with it.
    • The average price of property in Ovington Square is £3,247,362.
    • Property in Ovington Square typically sells for between £2,173 and £2,939 per square foot.
    • Properties in Ovington Square are currently valued at an average cost per square foot of £2,556.

The property market across SW3 1

  • The average price paid for a terraced house in the area SW3 1 over the past year is £11.1M.
  • Terraced house have been selling for £3,233 per square foot across SW3 1.
  • 1 terraced house have sold over the last 12 months (in the area coverring SW3 1).
What does it cost to live in this area?

Valuation accuracy

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Things to check before buying a new home

Working out a property's valuation can be tricky but we are here to help you get the information you need to know before putting in an offer.

* Excluding properties that we've been unable to calculate a valuation for. ** Excludes property transactions that occurred before 1995.

Whilst all reasonable effort is made to ensure the information in this website is current, The Move Market does not warrant the accuracy or completeness and accepts no liability for any loss or damage or costs.

Contains HM Land Registry data © Crown copyright and database right 2023. This data is licensed under the Open Government Licence v3.0.

The latest HM Land registry data covers property transactions up until 31/01/2024 - this was released on the 28/02/2024.