Discussing the different suburbs of Crawley we looked at how the market in Southgate compared with the general Crawley property market. Southgate could be the leafiest suburb of Crawley and parts of it pre-date much of the new town that has sprung up around it. The area has a property for everyone, from an impressive detached house close to the park for £450,000, Victorian red brick houses closer to the town centre in the mid £300,000 range and at the other end of the scale a terraced house could be purchased for around the £250,000 near the neighbourhood shopping parade.
Of the 87 properties for sale last week in Southgate, 52 of them are sold subject to contract, which shows that if you want to sell, the chances of finding a buyer are good. Also encouraging is that sales are evenly spread across the price ranges (from the period properties in Malthouse Road through to the 1970’s flats in the middle of the Southgate West by the Tesco Express).
Taking a general view on the property prices in Southgate we found average property values have risen by 20.87% in the last five years, compared to the Crawley average of only 19.53%. That means house prices in Southgate have outperformed Crawley as a whole by 7%.
As rental agents we have always known that Southgate properties are always in demand because of their proximity to the town centre and the station but it’s also good to know that we can advise any investor or home buyer that bought in Southgate five years ago that their capital value has outgrown the local average.