If 302 Dawson House, 11, Circus Road West were put on the market today, we calculate that without any home improvements it will sell for between £512,000 and £560,000, with the most likely sale price being around £536,000.
Automated valuations utilise a property's sale history along with other local sale data to calculate the expected sale price.
We will only provide a valuation where we are satisfied we have enough data to be reasonably accurate, however, anomolies can still occur.
When a property is valued at a higher cost per square foot than average, it can be because it:
Below we show the cost per square foot that each property would sell for today and how it compares to the average for this postcode.
Address | Market value | Cost per square foot** | CPSF** |
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A property that is in better condition would typically have a higher cost per square foot.
** Cost per square foot is based on today's market value. Percentage values show the CPSF compared against the average CPSF in this property's postcode.
Conservatories are included as part of the property's habitable space but as they are less usable (and desirable) than a full extension, they often drag the cost per square foot of the property down.
Distressed sales (bankruptcy and probate), bad sold price data (errors in the data at Land Registry) and partial property sales (shared ownership schemes), can all cause automated valuation models to lose accuracy and lead to a valuation that is not at a level that it should be.
Lastly, leasehold properties can sometimes be even harder to value due to the uncertainty around lease expiry dates as the data available around lease renewal is limited. A flat with a renewed lease can be worth substantially more than one with only a short lease left.
Properties in a bad state of repair, as well as properties that have need to be sold quickly, will often achieve a cost per square foot at the lower end of the range. Conversely, those that have been renovated or where the seller is able to wait for a better offer to come in, will often manage to achieve a higher cost per square foot.
Keep reading to find out more on how to get an accurate market valuation and what other alternative valuation methods are available.
Using the cost per square foot as a valuation method is an excellent way to compare valuations of nearby properties even if they aren't the same size.
However, it isn't perfect.
It only takes the internal habitable space into account, so it ignores outbuildings and differences in garden dimensions (a.k.a. plot size).
For flats (and other leasehold properties), using the cost per square foot won't take account of the length of the lease remaining, which can also make a substantial difference to a property's value. If an owner has renewed the lease, the property would be worth substantially more than an identical property that had a much shorter lease left.
Properties bought through shared ownership schemes can skew the average cost per square foot in a postcode (as HM Land Registry don't release the additional data on what proportion of the property was purchased).
The cost per square foot not only relies on the previous transaction data (price paid data) but also the internal floor area being accurate (and up-to-date) - if the generated cost per square foot falls well outside of an expected range, it may indicate that some of the underlying data isn't correct.
We offer a few different methods for valuing property - pricing property often still needs some human input to ensure that you're arriving at a sensible price. Make sure you compare local properties and use your judgement to produce a more accurate valuation.
To get the best valuation, sometimes it's best to:
* Excluding properties that we've been unable to calculate a valuation for.
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Mortgage FAQ'sWe use data from a number of trusted sources including HM Land Registry, Royal Mail as well as Ordnance Survey data. This helps us provide estimates for over 15 million properties in the UK.
When we know the internal property dimensions, we also calculate the cost per square foot which allows you to compare property valuations more easily.
A higher price per square foot can imply the property is in better condition.
Data is updated monthly. Our estimate is a guide only and should not be used in place of a valuation by an estate agent. They can view your property and consider factors not included in our data to give you a more accurate price.