Flat 8, 26 - 27 Egerton Crescent, London, Kensington And Chelsea, Greater London, SW3 2EB

Flat
775 sq ft
47%
PROPERTY VALUATION
£
Price change: +£491,000
Since last sold: August 2022
VALUATION RANGE
£1.48M - £1.59M
LOW OFFER | HIGH OFFER
Confidence: Medium
Good
Condition
Reasonable
Condition
Poor
Condition

At a sale price of £1.53M, we expect this property to be in good condition.

UPDATE CONDITION

Property summary Last updated: 05/03/2024

Last updated: 05/03/2024

Flat 8, 26 - 27 Egerton Crescent is a 3rd floor flat spread over 775 square feet, making it one of the smaller properties here - it is ranked as the 17th most expensive property* in SW3 2EB, with a valuation of £1,531,000.

Since it last sold in August 2022 for £1,040,000, its value has increased by £491,000.

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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 £1.48M and £1.59M.

  • The property turned out to be a reasonably good investment for the previous owner - returning on average 4.5% per annum.

  • 23 flats have sold at an average price of £1,956,043 over the last 12 months (in the area coverring SW3 2).

  • Built between 1900 and 1929, the property has sold twice over the last 29 years.

  • At a sale price of £1.53M, we expect this property to be in a significantly worse condition than the neighbouring properties.
  • This property has a lower cost per square foot than other properties in the area, which is why we think it is more likely to be in worse condition. This can be caused by a lack of general upkeep but it can also arise if the property has had a low quality extension. Typically houses with conservatory's often have a lower cost per square foot as whilst these make the property bigger, they tend to be cheaper to build and less usable.
  • At a valuation of £1.53M it has a cost per square foot of £1,975, which is substantially less than the average for the area. The average cost per square foot for property here is £2,884.
  • If we valued this property using the average cost per square foot (CPSF) - it would be worth £2.24M. 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:
£1.25M
Average house price:
£8.13M
Most expensive:
£21.14M
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47%
This property has increased in price by 47% since it last sold 20 months ago
81%
This property is 81% less expensive than average in Egerton Crescent, SW3 2EB

Sale history

The most paid for a property in Egerton Crescent, SW3 2EB was £14,650,000 in 2014.

Date Price Change
Today's value* £1,531,000 47.2%
01 Aug 2022 £1,040,000 184.9%
03 Nov 1998 £365,000 -
Flat 8, 26 - 27 Egerton Crescent, London is a flat with 775 square feet of internal space built between 1900 and 1929.
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Valuation details

The most likely sale price is £1,531,000 but at the lower end we think it should fetch a minimum of £1,477,000.

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

This property has increased in price by £491,000 since it last sold in 2022 - this equates to a 26.3% 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 lower cost per square foot can indicate that the property is in a worse condition and needs more refurbishment work or that it has a smaller 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 £2,061,000.

Note: If the lease has less than 82 years remaining, the property valuation will start to drop rapidly (due to the cost of the lease renewal increasing significantly at this point).

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Investment Performance
Annual change: 4.5%

Was It A Good Investment?

The previous owner had the property for 23 years, having purchased it in November 1998 for £365,000.

During this time, the price rose by £675,000 (184.9%), which equates to it increasing in value by 4.5% each year.

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

The sale on 01 August 2022 was recorded as a non-residential transaction. This can be because a commercial mortgage was used, the property was repossessed or the owner extended the lease etc.

How does this property compare?

  • Most likely sale price: £1,531,000.
    • Offers likely to be accepted between £1,477,000 and £1,585,000.
    • Cost per squre foot: £1,975 (at a valuation of £1,531,000) - the average cost per square foot for this postcode is £2884.
  • Leasehold flat.
    • 775 square feet.
  • Property energy rating: 48.
    • This is below average for this postcode.
    • A score of 100 is the best energy rating a property can be given.

The local market - SW3 2EB

  • The average property price for this postcode is £8,130,000.
    • Prices here range from £1,251,000 to £21,138,000.
    • Expect to pay £2,451 to £3,316 per square foot for property in SW3 2EB.
  • 5 properties have sold in SW3 2EB over the last 5 years.
  • Egerton Crescent has 2 postcodes associated with it.
    • The average price of property in Egerton Crescent is £9,811,583.
    • Property in Egerton Crescent typically sells for between £2,422 and £3,277 per square foot.
    • Properties in Egerton Crescent are currently valued at an average cost per square foot of £2,850.

The property market across SW3 2

  • The average price paid for a flat in the area SW3 2 over the past year is £1.96M.
  • Flats have been selling for £1,854 per square foot across SW3 2.
  • 23 flats have sold over the last 12 months (in the area coverring SW3 2).
What does it cost to live in this area?

Valuation accuracy

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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.