The subject of a lack of East Dulwich property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in East Dulwich since the late 1990 ‘s, so I’m able to give an objective and unbiased opinion on what does (and what does not) make a good property deal / investment.
Knowing in detail about what has happened to the property market in the different areas of South London (East Dulwich, Nunhead, Herne Hill and Peckham for example) enables me to spot any trends and therefore opportunities for buy to let landlords.
Here is a bargain that I spotted a couple of years ago and made a note of. It’s obvious other people thought the same as it has resold a few months ago. Back in the Spring of 2012 one of those lovely 3 bed period houses on Bassano Street was put on the market with an asking price of £540,000. This sold in the Summer of 2012 for £520,000.
Just after Christmas 2013 the property was put back on the market with an asking price of £899,950. The new owners had converted the loft, replaced the bathroom suite and redecorated throughout, spending somewhere in the region of £60,000 – £70,000. The property completed in the Summer just gone for £880,000, a rise of 69.23% which when you consider the market only grew by 30.5% during that time, even after spending a sum on the improvements, is still an excellent return.
Whether you are a landlord of ours or not or someone thinking of investing in rental market for the first time, drop by our offices for any advice and opinion on where the bargains are in East Dulwich. Please come and see me at our office on The Parade, Dog Kennel Hill, East Dulwich.