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All you need to know – houses for sale in Greenwich

by | Nov 15, 2022

Home $ House for sale in the UK $ All you need to know – houses for sale in Greenwich

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Greenwich can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Greenwich.

On top of this, keep reading for detailed information on the demographics of Greenwich in London. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

In Greenwich, what is the asking price in general for a house for sale?

In the city of Greenwich, what is the average asking price for the houses for sale?

Average asking price (1 bed) £314,941
Average asking price (2 bed) £423,592
Average asking price (3 bed) £561,593
Average asking price (4 bed) £839,211
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Greenwich, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £6,220 will help them to have a more holistic understanding.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Greenwich is £436,910.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Greenwich is useful when negotiating and knowing what to expect for every type of house for sale.

What kind of demographics does the city of Greenwich have?

Are the deprivation levels of the UK any different to Greenwich?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of £0 for Greenwich should give you a nice idea of the deprivation in the area.

Located in London is the city of Greenwich, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Greenwich has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Greenwich which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

In Greenwich, what is the crime rate?

For every one thousand people living in Greenwich, 15967% commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 15967% is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

In the city of Greenwich, is there a lot of green space?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Greenwich, 9 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Greenwich.

In the city of Greenwich, has the population grown or shrunk?

The city of Greenwich has a total population of 129100. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Greenwich is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Greenwich

Over time, in the last five years, the population of the city of Greenwich has changed by 5%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 5% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Greenwich?

In the last 10 years, there has been a shift in the population of 16%.

Comparing this to the 5 year figure of Greenwich can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

How much do people in Greenwich earn?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£52,000.00 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 27% for Greenwich.

In Greenwich, what is the social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Greenwich in grades A or B which are the highest skilled roles in the country is 27%.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £52,000.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 27%.

What is the education level like in Greenwich?

Interestingly, the percentage of people who have a degree in the city of Greenwich is 38%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Greenwich is £52,000.00.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

Finding the ideal house for sale for you

Many criteria impact the price of houses for sale in Greenwich.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

Are you considering other cities with houses for sale?

If you are looking for a list of cities that are different to the City of Greenwich and in different UK region to Greater London. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

How are rental yields of the houses for sale different to the rest of the UK in Greenwich?

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Greenwich this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Greater London) alongside London then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Greenwich.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Greenwich £0 £1,804 £1 £0
London 3.96% £2,001.05 129.93% 12.05%
Greater London 0.04 1,898.58 £1 13.30%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Greenwich.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (22) will be useful.

Are there more or fewer houses being built in Greenwich?

Before committing to Greenwich to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Greenwich growth rate -1% 0% 9%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Greenwich is building housing to find your answer.

In Greenwich, what do houses for sale tend to sell for?

In Greenwich, houses for sale are sold at an average of £420,967. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Greenwich. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £761,029
Aerage sold price (semi-detached) £555,357
Aerage sold price (terraced) £489,460
Aerage sold price (flat) £375,920

As you can see above, for Greenwich, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 16% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £5,380
Aerage sold price/sqft (new build) £5,367
Aerage sold price/sqft (old stock) £4,997

Looking at the second table about Greenwich, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Greenwich is £5,800.

Professional advice for houses for sale in Greenwich

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

Frequently Asked Questions

Are there opportunities for property renovation in Greenwich?

Every single month in Greenwich, there are 11 planning applications, of which nan result in a success. Look at this in terms of the population size of 129100 to work out if you think you’d have good planning success if you were to renovate.

In Greenwich, how many property sales per month are there?

In the city of Greenwich, there are 22 and in the total for the UK, there are around 1.1 million property sales.

What’s the year-over-year population change in Greenwich or similar cities?

Calculating the evolution of Greenwich’s population requires an examination of the population transformation over a decade, amounting to 16%, and the five-year adjustment at 5%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

What are the asking rates for houses for sale in the surrounding area of Greenwich?

The current average price per square foot for a house in Greenwich stands at £6,220, considering the mean cost for each square foot of houses for sale there.

Is a house for sale in Greenwich an expensive choice?

To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Greenwich, the value is £420,967, whereas the UK’s mean is £286,500

Find an estate agent in the city of Greenwich

In order to buy a house in Greenwich you might need the service of an estate agent. To simplify the pain of looking for the nearest agent we have built a list of estate agents in your area, taking you straight to their website

Name of the Agent Email Address Address Phone Number
Maritime Properties Ltd Phone number only 193 Trafalgar Road, Greenwich, SE10 9TX 442035894051
Banff Real Estate Phone number only 3-4 Nelson Road, London, SE10 9JB 442036417398
Truepenny’s Property Consultants nan 1A The Village, Charlton, London, SE7 8UG 442036413365
changingproperty.com Kalpesh Patel (kalpesh@changingproperty.com) 35 BEAUFORT CT 442088558999
Lebern Lee Anderson (lee@lebern.co.uk);Finance LeBern (finance@lebern.co.uk);Shereen Anderson (shereen@lebern.co.uk);Pasindu Withanage (pasindu@lebern.co.uk) 6 Mitre Passage nan

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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