According to the public record, Flat 22, Drake Point, Erith is a modern leasehold apartment with 828 ft2 of internal area.
Apartments of this size in this area normally have 3 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 22, Drake Point, Erith has 2 entries in the Land Registry database, most recently in March 2021 and a single entry in the EPC database dated March 2013.
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 22 Drake Point Erith as £252,087 and the rental value as £1,494 per month giving an expected gross yield of 7.1%.
Over the last 12 months the sale value of Flat 22 Drake Point Erith has increased by £4,916 (2.0%) and its rental value has increased by £99 per month (6.6%).
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 22, Drake Point, Erith is in very good condition we estimate a sale value of £264,692 and rental value of £1,569 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £234,441 and a rental value of £1,390 per month.
If you were able to purchase this property for the estimated value of £252,087, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,239 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 22, Drake Point, Erith was last sold on 12 Mar 2021 for £253,500 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Mar 2021, the market for similar properties has risen 4.9%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 22, Drake Point, Erith within a radius of 560 metres over the last 2 years.
The most recent example is Flat 14, Drake Point, Chichester Wharf, Erith, DA8 1BG, a Leasehold flat which sold for £265,000 in Feb 2024.
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 22, Drake Point, Erith is the 50th largest and the 61st most expensive property on the street.
When compared to the postcode district it is £86k less expensive than the average property in DA8.
Flat 22, Drake Point, Erith has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 23 Mar 2013.
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 22, 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 22, 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 22, 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 22, 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 22, 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 22, 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.