Oakley Property says ..

Property Oracle says ..

The property is located in Lewes, East Sussex, a historic market town with a range of amenities. Lewes Castle is nearby, adding to the area’s appeal. The proximity to several well-regarded schools, such as Southover Cofe Primary School and Western Road Community Primary School (both rated ‘Good’ by Ofsted), is a significant positive for families. Lewes railway station is also conveniently located, providing easy access to Brighton and other parts of the South East. This contributes to a positive location score.

Based on the provided images, the property is in need of significant renovation. The walls show signs of damp and damage, carpets are worn, and the overall condition appears dated and tired. The bathroom and kitchen also require modernisation. This suggests a low condition score.

The property benefits from a small garden, although it appears to be somewhat overgrown and in need of attention. The size of the garden is not specified, however, the presence of a garden is a positive aspect.

The list price of £400,000 is considerably lower than the average house price in the area (£868,846). However, considering the property’s condition and the need for extensive renovation, the price might be considered reasonable for a buyer willing to undertake a full refurbishment project. The average price per square foot in the area is £603, while this property is listed at a significantly lower price per square foot. While this may seem attractive, the substantial renovation costs should be factored into the overall assessment. Nearby comparable properties show a range of prices, reflecting the variability of condition and size. A comprehensive cost analysis of the necessary renovations is needed to determine the true value and whether the asking price is reasonable.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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