According to the public record, Flat 12, Drake Point, Erith is a modern leasehold apartment with 656 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
The apartment is in Drake Point, Chichester Wharf, Erith, DA8.
Chichester Wharf, Erith, DA8 is located in the borough of Bexley within the DA8 postal district.
Flat 12, Drake Point, Erith has 21 entries in the Land Registry database, most recently in October 2022 and a single entry in the EPC database dated June 2020.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for Flat 12 Drake Point Erith as £221,526 and the rental value as £1,362 per month giving an expected gross yield of 7.4%.
Over the last 12 months the sale value of Flat 12 Drake Point Erith has increased by £3,639 (1.6%) and its rental value has increased by £86 per month (6.3%).
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 Flat 12, Drake Point, Erith is in very good condition we estimate a sale value of £232,603 and rental value of £1,430 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £206,020 and a rental value of £1,266 per month.
If you were able to purchase this property for the estimated value of £221,526, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,089 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, Flat 12, Drake Point, Erith was last sold on 14 Oct 2022 for £220,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Oct 2022, the market for similar properties has dropped 1.2%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 12, Drake Point, Erith within a radius of 560 metres over the last 2 years.
The most recent example is Flat 21, Drake Point, Chichester Wharf, Erith, DA8 1BG, a Leasehold flat which sold for £226,500 in Dec 2023.
Read more about house prices in DA8.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Chichester Wharf, Erith, DA8 has a total of 158 addresses. According to our analysis of all the public data, Flat 12, Drake Point, Erith is the 120th largest and the 145th most expensive property on the street.
When compared to the postcode district it is £117k less expensive than the average property in DA8.
Flat 12, Drake Point, Erith has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 13 Jun 2020.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to Flat 12, Drake Point, Erith is Erith station which is 300 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 Flat 12, Drake Point, Erith, 45.2% of property is privately rented and 27.6% is privately owned with a mortgage.
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 Flat 12, Drake Point, Erith, 26.6% of residents are recorded as possessing school level qualifications and 46.0% 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 Flat 12, Drake Point, Erith, the average age was 34.2 and the most common age was 7.
The graph below shows how this compares to Greater London 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 Flat 12, Drake Point, Erith, 0.0% of property was a second home.
Comparison figures for Greater London 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 Flat 12, Drake Point, Erith, there are an average of 0.7 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.