# House prices in DA8 1 (Erith)

## Defining 'DA8 1'

This analysis is limited to properties whose postcode starts with "DA8 1", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Erith.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

## Price per square metre

Knowing the average house price in Erith is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area
E.g. 283, Brook Street, Erith, sold for £300,000 on Apr-2024. Given the internal area of 66 square metres, the price per sqm is £4,545.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 249 sales in Erith (DA8 1) that took place in the last two years.

##### Distribution of £ per sqm for Erith
Distribution of £ per sqm house prices in Erith

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in Erith (DA8 1). Of the 249 transactions, half were sold for between £3,760 and £5,000 per square metre. The median, or 'middle', price per square metre in 'DA8 1' is £4,190. Notably, only 25% of properties that sold recently were valued at more than £5,000 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Erith

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring Erith. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values.

House price heatmap for Erith

## Comparison with neighbouring postcode sectors

The table below shows how 'DA8 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
DA8 1 Erith £3,760 sqm £4,190 sqm £5,000 sqm
DA8 2 Slade Green £3,860 sqm £4,400 sqm £4,950 sqm
DA8 3 Erith £3,900 sqm £4,520 sqm £5,190 sqm

## Will Erith house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the chart below for DA8 1 (Erith) compared with both the wider area DA8 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

##### Historic price per square metre in Erith,Erith
House price trends for Erith

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

##### Most recent DA8 1 sales
Recent trends for Erith

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Erith to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Erith and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information.

## Street level data

Street Avg size Avg £sqm Recent sales
Chandlers Drive, Erith, DA8 1L 49 sqm £4,037 31
Chichester Wharf, Erith, DA8 1B 68 sqm £3,621 26
Belmont Road, Erith, DA8 1L 89 sqm £4,448 26
Wharfside Close, Erith, DA8 1Q 58 sqm £3,452 21
Hengist Road, Erith, DA8 1E 83 sqm £4,165 19
Riverdale Road, Erith, DA8 1P 89 sqm £3,707 18
Holly Hill Road, Erith, DA8 1Q 72 sqm £4,331 16
Brook Street, Erith, DA8 1J 82 sqm £3,946 14

## New build activity

Street Avg size Avg £sqm New build sales
Ballast Road, Erith, DA8 1F 96 sqm £3,857 25

Ballast Road, Erith, DA8 1F has seen 25 new build sales in the last 4 years (average price £300,689). These new build homes typically have an internal area of 96 sqm, with an average price of £3,857 sqm. This £sqm average is £-333 below the average for DA8 1. New builds typically command a £ per sqm premium. In the case of Ballast Road the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

## Raw data

Our analysis of Erith is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.