A landlord who owns a few properties on Upland Road since 1999 came into our office. Having originally made contact with him through our newsletter he was doing some grocery shopping in the Sainsbury’s opposite our office and he felt he’d drop in for a little chat regarding Upload Road itself as he was thinking of selling one of his properties by next year.
He was very interested in capital growth.
So I researched and found that in 1999 when he purchased his first property on Upload Road, the average sales value of a property on Upland Road was £185,000. This average sales value however decreased the following year to £183,000 in 2000.
This doesn’t necessarily surprise me given the fact that this was the period in which East Dulwich started to grow as a property market, the effects of which started to be become visible following 2004. For instance as the market started to materialise the average sales on Upland Road increased by 96% to £359,000 in 2005. Capital growth being a very good indication that positive things started to happen within the area (this being something mentioned by me in previous newsletters and blog entries).
For next week I will analyse another road and see if it’s illustrative of East Dulwich and it’s rise.