- by Admin
- in Property Prices
You’ve made the decision to sell your home – the next step is to find out for how much. Prices are growing at their fastest rate in 18 years, including in and around Camberwell and Denmark Hill, so there’s never been a better time to uncover the potential of your home.
Head online
Sites like Rightmove and Zoopla are great places to start as they’re full of information that you can use to determine house prices, as well as discover trends. However, for something more in-depth, the Land Registry is ideal, as it is a comprehensive database on almost every property in the country.
Understanding what’s driving local property prices is a vital part of the selling process – especially in London. In SE5, most terraced properties sold for just under £1 million on average last year, 6% higher than the last market peak in 2018. Begin your search online to learn more about your local area instantly, but if you want deep insight, you need to ask the experts.
Ask your estate agent
Estate agents have a keen eye – they’re trained to value homes based on their experience and on the latest market trends. You can gain their expertise at no extra cost as they offer free valuations.
This valuation is based on a number of details:
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- Their research on the area
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- Previous selling prices, and how they’ve changed
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- What amenities are nearby, like schools and shops
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- How big each room is within your home
The answers to these details can vary between agents, depending on their experience in the field, and their knowledge of the area. For example, a big chain agent won’t hold as much local expertise as an independent estate agent, who lives and breathes one area, and one area only.
It’s always worth gathering as many opinions as you can to solidify your average and find any outliers. This is especially so if you have a mortgage. Your mortgage lender may send out their own surveyor, and as they follow strict criteria, they may come back with a different cost.
All are helpful to discovering the average house price in your area, and if there’s a way to increase it.
Boost your valuation
Once you’ve gathered several prices and valuations, you can start to improve them. One way to do that is by building extensions. Space is in high demand, and a single room can add just over £46,000 to your property’s value. Here are just a few of the increases you could expect with each extension:
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- An extra bathroom can add 5%
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- More living space could increase val