Property update-East Dulwich
Last week a local property owner came into our office; he owns two properties, one on Hindmans Road and the other on Darrell Road. Both of his properties are 3 bed properties and he wanted to discuss which property would be most worth selling by the end of the year.
So I thought it be quite interesting to investigate capital growth for both roads.
The average sales value of a 3 bedroom property on Hindmans Road is £668,000 whereas on Darrell Road is it 640,000. Hindmans Road has seen a steady increase in its sales value. The average sales value of a 3 bedroom property on Hindmans Road was 320,000 in 2004 whereas in 2014 it was £640,000. This results in a significant increase of 100% and a value upturn of £2456 per month from 2004 to 2014.
When I compared this to Darrell Road I noticed that over the last 10 years the sales price on Darrell Road have increased from an average sales value of £296,000 to £640,000 from the year 2004 to the year 2014. This results in an increase of 116% over the given period for a 3 bed property. Equally this marks a rise of £2641 per month over the 10 year period- good news for property owners on both roads in my opinion.
Generally speaking both roads are reflective of the East Dulwich property market itself and how its average property values are steady and most importantly growth.
The capital growth on both roads is quite healthy and in my opinion he would be well placed to sell any one of his properties given their steady capital growth.