Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Harrow, London.
From the average asking price of houses for sale in Harrow, to the growth of the population in the area, all will be talked about regarding the city of Harrow. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Who can help you buy a house for sale in Harrow?
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
What are the asking prices for the houses for sale in the city of Harrow?
Average prices for the houses for sale in Harrow
|Average asking price (1 bed)||£303,421|
|Average asking price (2 bed)||£417,372|
|Average asking price (3 bed)||£639,586|
|Average asking price (4 bed)||£843,894|
|Average asking price (5 bed)||£971,425|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Harrow is £5,724. This should show you the general prices overall and for individual types of houses too.
When investors make offers for houses for sale in Harrow, the average price asked by the homeowners works out to be £572,084.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Harrow is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In Harrow, what are the demographics like?
What’s the crime rate in Harrow?
The crime rate of Harrow must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 95, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (95) is both useful and is recommended to be compared to the average.
What’s a social grade score and how does it relate to Harrow?
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 Harrow in grades A or B which are the highest skilled roles in the country is 31%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £56,556 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 31%.
How much are those living in Harrow earning?
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.
£56,556 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 31% for Harrow.
Harrow within London is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Harrow will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Greater London). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Harrow.
In Harrow, how educated are people in general?
In the city of Harrow, 37% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Harrow is £56,556. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
Are the deprivation levels of the UK any different to Harrow?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Harrow is 24% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
In Harrow, how has the population changed?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Harrow is 442,103.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Harrow.
In Harrow, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Harrow is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (3%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Harrow population difference over 10 years?
The population has adjusted in the area of Harrow by 9% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Harrow.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
Do the people of Harrow get to enjoy green space?
In the city of Harrow, there are 11.8 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Harrow is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Why you should consider the average rental yield when searching for houses for sale in Harrow
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Harrow to London and the broader suburb of the UK; Greater London.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Harrow for profit in the future, in this case, looking at the data for the number of houses sold per month in Harrow would give you an idea of whether the area is actively getting new investors. This figure is 207.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Harrow. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
Is the housing market in Harrow growing?
The growth of an area like Harrow can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Harrow growth rate||2%||13%||12%|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Harrow if you want to find out the exact reasons for the housing change.
Are you considering other cities with houses for sale?
You can consult our list below that goes over a list of cities not necessarily in Greater London, allowing you to find similar places to Harrow:
- Battle Hill in Greater London
- Bridgwater in Greater London
- Barbrook in Greater London
- Kilbirnie in Greater London
- Avon Dassett in Greater London
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Harrow.
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.
What is the final sale price of a house in Harrow?
As well as looking at the asking price for house for sale in Harrow, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Harrow.
Houses for sale, are sold on average in Harrow, after the influence of these factors, at £519,444 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 9% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£817,454|
|Aerage sold price (semi-detached)||£593,839|
|Aerage sold price (terraced)||£505,515|
|Aerage sold price (flat)||£345,623|
This table above shows the average sale price for each variation of houses for sale in Harrow.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£5,332|
|Aerage sold price/sqft (new build)||£5,798|
|Aerage sold price/sqft (old stock)||£5,239|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Harrow is £5,527.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.