At a sale price of £3.73M, we expect this property to be in a reasonable condition based on its price per square foot.
56 First Street, London is a 3 bedroom terraced house spread over 1,421 square feet, making it one of the smaller properties here - it is ranked as the 10th most expensive property* in SW3 2LD, with a valuation of £3,726,000.
Since it last sold in March 2021 for £2,900,000, its value has increased by £826,000.
If home improvements have been made, ensure you update the valuation.
UPDATE VALUATIONIf no refurbishment work has been carried out since it was last purchased, we expect the property to sell for between £3.6M and £3.86M.
The property didn't turn out to be a great investment for the previous owner - returning on average -2.3% per annum.
18 terraced houses have sold at an average price of £4,398,990 in SW3 2 over the last 12 months.
The most paid for a property in First Street, SW3 2LD was £4,600,000 in 2017.
| Date | Price | Change |
|---|---|---|
| Today's value* | £3,726,000 | 28.5% |
| 24 Mar 2021 | £2,900,000 | 15.3% |
| 21 Feb 2014 | £3,425,000 | 45.7% |
| 18 Sep 2009 | £2,350,000 | 30.6% |
| 21 Sep 2006 | £1,800,000 | 140.0% |
| 04 Nov 1999 | £750,000 | - |
56 First Street is a fraction smaller than the average property in this postcode.
This property has a similar cost per square foot as other properties in the road, which is why we think it is in a reasonable condition.
At a valuation of £3.73M this property has a cost per square foot of £2,622 - this is comparable with the average for properties for the area (which is currently £2,475).
The most likely sale price is £3,726,000 but at the lower end we think it should fetch a minimum of £3,596,000.
On a cost per square foot basis, this property is valued at 7% more than the other houses in this postcode.
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 £4,842,000.
UPDATE VALUATION| Property | Valuation | ||
|---|---|---|---|
 |
52 First Street, London
3 bed | 1356 sq. ft. |
£3,443,000 | |
 |
44 First Street, London
3 bed | 1442 sq. ft. |
£3,579,000 | |
 |
56 First Street, London
3 bed | 1421 sq. ft. |
£3,726,000 | |
 |
36 First Street, London
2 bed | 1221 sq. ft. |
£3,927,000 | |
|
14 First Street, London
1625 sq.ft. |
£4,312,000 |
The previous owner had the property for 7 years, having purchased it in February 2014 for £3,425,000. They then sold it in March 2021 for £2,900,000
During this time, the price fell by £525,000 (-15.3%), which equates to it falling in value by -2.3% each year.
The property didn't turn out to be a great investment for the previous owner.
Our property valuation model calculates the latest property prices using data from trusted external sources in combination with available user-submitted information - this includes HM Land Registry which is the UK's official register for ownership of land and property in England and Wales.
The model takes into account what has sold, when and how prices have changed over time. It also brings in multiple datasources to cross reference accuracy with the latest sales data and cost per square foot benchmarks.
In addtion to this, we filter out bad data where we are able to identify it so we can improve accuracy.
If home improvements have been made or the property has been extended after it was last purchased, these improvements won't be taken into account if we don't know about them. For properties that have had home improvements made, you can get an updated valuation here.
A number of things can make a property more desirable and sell for more money per square foot than others in the area.
Some of the things that can cause a property to be worth more per square foot include:
We use multiple data sources to provide reliable property information to you.
Some of the data sources we use are:
* 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 29/02/2024 - this was released on the 28/03/2024.
