According to the public record, Apartment 5, The Galleries 52, Hove is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a modern apartment with 756 ft2 of internal area and a balcony.
Apartments of this size in this area normally have 2 bedrooms.
The apartment is in The Galleries, Palmeira Avenue, Hove, BN3.
Palmeira Avenue, Hove, BN3 is located within the BN3 postal district.
Apartment 5, The Galleries 52, Hove has 21 entries in the Land Registry database, most recently in August 2016 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for Apartment 5 The Galleries 52 Hove as £471,559 and the rental value as £1,808 per month giving an expected gross yield of 4.6%.
Over the last 12 months the sale value of Apartment 5 The Galleries 52 Hove has decreased by £2,600 (0.6%) and its rental value has increased by £135 per month (7.5%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If Apartment 5, The Galleries 52, Hove is in very good condition we estimate a sale value of £495,137 and rental value of £1,899 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £438,550 and a rental value of £1,682 per month.
If you were able to purchase this property for the estimated value of £471,559, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,318 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, Apartment 5, The Galleries 52, Hove was last sold on 19 Aug 2016 for £415,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Aug 2016, the market for similar properties has risen 7.7%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Apartment 5, The Galleries 52, Hove within a radius of 310 metres over the last 2 years.
The most recent example is Apartment 20, The Galleries 52, Palmeira Avenue, Hove, BN3 3FH, a Leasehold flat which sold for £500,000 in Jun 2023.
Read more about house prices in BN3.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Palmeira Avenue, Hove, BN3 has a total of 391 addresses. According to our analysis of all the public data, Apartment 5, The Galleries 52, Hove is the 200th largest and the 152nd most expensive property on the street.
When compared to the postcode district it is £28k less expensive than the average property in BN3.
The closest station to Apartment 5, The Galleries 52, Hove is Hove station which is 800 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around Apartment 5, The Galleries 52, Hove, 55.5% of property is privately rented and 21.8% is privately owned outright.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around Apartment 5, The Galleries 52, Hove, 17.6% of residents are recorded as possessing school level qualifications and 53.0% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around Apartment 5, The Galleries 52, Hove, the average age was 40.7 and the most common age was 32.
The graph below shows how this compares to South East and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around Apartment 5, The Galleries 52, Hove, 1.0% of property was a second home.
Comparison figures for South East and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around Apartment 5, The Galleries 52, Hove, there are an average of 0.8 cars per household.
See below for how this compares to South East and the rest of England & Wales.