At a sale price of £940k, we expect this property to be in poor condition based on its price per square foot.
Apartment 3, 22 Patcham Terrace is a top floor flat spread over 1,130 square feet, making it one of the bigger properties here - it is ranked as the 5th most expensive property* in SW8 4EY, with a valuation of £940,000.
Since it last sold in March 2020 for £960,000, its value has decreased by £20,000.
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 £907k and £973k.
The property turned out to be a amazing investment for the previous owner - returning on average 45.1% per annum.
33 flats have sold at an average price of £523,682 in SW8 4 over the last 12 months.
The most paid for a property in Patcham Terrace, SW8 4EY was £1,157,065 in 2019.
| Date | Price | Change |
|---|---|---|
| Today's value* | £940,000 | 2.1% |
| 23 Mar 2020 | £960,000 | 14.0% |
| 15 Nov 2019 | £841,750 | - |
Apartment 3, 22 Patcham Terrace is a fraction bigger than the average property in this postcode.
This property has a lower cost per square foot than other properties in the road, which is why we think it is more likely to be in worse condition.
However, a lower CPSF can also be caused by a low quality extension (or conservatory), a smaller garden, a lack of parking or if the property was previously sold through a partial ownership scheme etc.
At a valuation of £940k this property has a cost per square foot of £831 - this is substantially less than the average for the area (which is currently £2,867).
The most likely sale price is £940,000 but at the lower end we think it should fetch a minimum of £907,000.
On a cost per square foot basis, this property is valued at 14% 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 £1,249,000.
UPDATE VALUATION| Property | Valuation | ||
|---|---|---|---|
|
Apartment 3, 22 Patcham Terrace
1130 sq.ft. |
£940,000 | ||
|
Apartment 4, 22 Patcham Terrace
1119 sq.ft. |
£1,019,000 | ||
|
20 Patcham Terrace, London
|
£1,033,000 | ||
|
Apartment 2, 18 Patcham Terrace
1711 sq.ft. |
£1,109,000 | ||
|
24 Patcham Terrace, London
|
£1,131,000 |
The previous owner had the property for 4 months, having purchased it in November 2019 for £841,750.
During this time, the price rose by £118,250 (14%), which equates to it increasing in value by 45.1% each year.
The property turned out to be a amazing 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.
