Valuation review
Flat 43, Riverside 1 Albert Wharf, 22, Hester Road, London, Wandsworth, Greater London, SW11 4AN
Leasehold
Flat
Estimated price
£2.125M
Low
£2,582,000
Compared to average: -45%
£3.193M
High
74.5% confidence
If Flat 43, Riverside 1 Albert Wharf, 22 was put on the market today, we calculate that without any home improvements it will sell for between £2,125,000 and £3,193,000, with the most likely sale price being around £2,582,000 with a confidence of 74.5%.
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Automated valuations

Automated valuations utilise a property's sale history to calculate how much it will have changed, by using the average price of properties in the surrounding area.

However, sometimes properties are sold in distressed situations, for instance where a person can no longer afford their mortgage, their home may need to be sold quickly and therefore at a discount to its real market value.

This in turn, can cause its future valuation to be lower than it should be (as really the previous buyer got a bargain and caused the historic sale price to be distorted).

Another common distortion to the average property price (and automated valuations) happens when a lot of new housing development takes place. This can dramatically increase the average price of property temporarily but after all the newly built properties have sold, it tends to drop back down just as dramatically, which leads to a brief spike in local prices.

Valuation sanity check

Similar priced properties sold recently in postcode?
Valuation similar to multiple properties in same postcode?
Cost per square foot within expected range?
Property transaction history - sold multiple times?
Similar sized properties sell frequently?
Latest sales went for expected market value?

Cost per square foot

By looking at the cost per square foot (CPSF) we can benchmark a property against many properties in the local area, even if they aren't identical - as the CPSF ignores the difference in a buildings size.

How does this property compare against the others here?

This property is currently valued between £1,379 and £2,073 per square foot*, whilst the average cost per square foot in SW11 4AN is £1,856.

At a valuation of £2,582,000, this property has a CPSF of £1,676, which is 10% cheaper than average for this postode.

This shows the the cost per square foot for each valuation and then compares it against the average cost per square foot that houses in this postcode are worth today. *

Lower valuation
£2.125M
Cost per square foot
£1,379
Against average: -£477 (26%)
£2.582M
Cost per square foot
£1,676
Against average: -£180 (10%)
Upper valuation
£3.193M
Cost per square foot
£2,073
Against average: +£217 (12%)

A higher cost per square foot can arise for a few reasons, including:

  • a better condition property than average.
  • a bigger garden than average.
  • a better location than other houses in the postcode (maybe it is set further back from the road or has better views).
  • a house that is architecturally more attractive.

*Based on it having 1,540 square feet of habitable internal space and a price band of £2,125,040 to £3,193,132.

2 properties in this postcode have a similar cost per square foot to this property - the higher this number, the more likely the automated valuation is accurate.

Constructed
1991-1995
Total floor area
1540 square feet

Comparing against similar properties

The cost per square foot is an excellent way to double check that a property hasn't been incorrectly valued as it allows you to compare it against more properties in the local area, even though they may not be identical.

Calculating the cost per square foot

The cost per square foot is calculated by taking the price (or valuation) and dividing it by the size of the property. Strictly speaking, it only includes internal habitable floor space - for example, floorspace associated with a garage should be excluded from the calculation.

Comparable properties
The average cost per square foot in SW11 4AN is £1,856

This shows the cost per square foot that each property would sell for today and how it compares to the average for this postcode.

Last sold Address
2017 Flat 53, Riverside 1 Albert Wharf, 22 £1,303 (-30%)
2014 Flat 43, Riverside 1 Albert Wharf, 22 £1,676 (-10%)
2016 Flat 75, Riverside 1 Albert Wharf, 22 £1,805 (-3%)
1996 Flat 62, Riverside 1 Albert Wharf, 22 £1,926 (+4%)
1999 Flat 71, Riverside 1 Albert Wharf, 22 £1,963 (+6%)
2010 Flat 31, Riverside 1 Albert Wharf, 22 £2,080 (+12%)
2011 Flat 34, Riverside 1 Albert Wharf, 22 £2,239 (+21%)

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.

The average cost per square foot in SW11 4AN is £1,856.

We recommend using the cost per square foot as a way to compare the valuations of similar properties in the area.

Issues to be aware of around valuations based on cost per square foot

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.

Cost per square foot paid on latest sale

Recent sales near here

Scanning for recent sales near here

How can I improve the accuracy of my valuation?

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:

  • base it on a few similar properties and adjust for minor differences (make sure you create a 'Valuation Report').
  • refine the property price to take account for home improvements and extensions (see the 'Refine Valuation' button above).
  • use the average cost per square foot multiplied by the size of the property.
  • check what the other properties in the road are valued at (be aware a road can have more than one postcode).
  • check what's sold recently in the local area.

* Excluding properties that we've been unable to calculate a valuation for.

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 (including reliability, currency or suitability) of the data and information contained on this website and accepts no liability (including without limitation, liability in negligence) for any loss or damage or costs (including consequential damage) arising in connection with the data and information contained on this website. The estimate of current value ranges provided on the website are based on a proprietary automated valuation estimate provided by The Move Market. Any estimated values ranges are current at the date of the publication only. It is computer generated and is not a professional appraisal of the subject property and should not be relied upon in lieu of appropriate professional advice. The accuracy of the methodology used to develop the valuation, the existence of the subject property, the accuracy of the estimate and all rule sets provided are estimates based on available data and are not guaranteed or warranted. The Move Market excludes all liability for any loss or damage arising in connection with the estimated value provided in this report.