Property Update- East Dulwich
Our home town East Dulwich has grown quite popular in recent years bringing with it a number of willing and able potential buyers. Generally speaking the property market in East Dulwich has started to flourish in general and more so since 2013.
Why East Dulwich? Well because East Dulwich was able to transform itself from something ordinary to a hotspot for young families by becoming a great place to live.
Over time East Dulwich started to develop through a wave of new restaurants, shops and café’s like our personal favourite the Blackbird!
What do these developments mean for local residents/home owners who would be looking to sell? Or someone who’s looking to invest? Well it means a number of things. Firstly prospective buyers are willing to pay good price for a property even if it is not very pleasing on the eyes or even slightly run-down.
This is because potential investors are aware that the location will yield favourable prices and a little investment in refurbishment will only add to the price buyers are willing to pay.
Secondly as prices in London have risen by 18.7% according to the Office of National Statistics, East Dulwich has been able to benefit from this. What this means is that East Dulwich property prices have gained even further value in their price tag.
This boom is quite visible in local property prices. Prospective sellers only have to look at local Lordship Lane where a 1 bedroom flat on Lordship Lane was sold at £225,000 in March 2013. Whereas in March 2014 the same property was sold at £322,000! In the space of nearly a year the property price had increased by 40%.
From flats to terraced houses there is an increase in price for each form of property.