Abbey Wood 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 Abbey Wood.
On top of this, keep reading for detailed information on the demographics of Abbey Wood in London. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
In Abbey Wood, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of Abbey Wood
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £328,250 |
| Average asking price (3 bed) | £464,893 |
| Average asking price (4 bed) | no relevant data for this city |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Abbey Wood and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
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 Abbey Wood is £424,667.
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 Abbey Wood is useful when negotiating and knowing what to expect for every type of house for sale.
In general, for the city of Abbey Wood, what are the final purchase prices for the houses for sale?
In Abbey Wood, the average sale price of a house for sale is in fact £362,532. This is dependent on the 10 year population growth of Abbey Wood being 14%. Growing populations are more likely to inflate the prices of houses for sale in the city of Abbey Wood.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £519,417 |
| Aerage sold price (semi-detached) | £398,963 |
| Aerage sold price (terraced) | £369,597 |
| Aerage sold price (flat) | £243,030 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Abbey Wood.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £4,060 |
| Aerage sold price/sqft (new build) | £3,670 |
| Aerage sold price/sqft (old stock) | £4,030 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £4,060. This means if you are just looking out the houses sold in Abbey Wood in general and didn’t take into consideration the type of build. For example, a new build.
What are the people like in Abbey Wood?
What is the population of Abbey Wood?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Abbey Wood if 26,663 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Abbey Wood such as rental yield or house appreciation.
How has the population size of Abbey Wood adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Abbey Wood by 5%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 5% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Abbey Wood?
In the last decade, the population of Abbey Wood has been adjusted by 14%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Are the deprivation levels of the UK any different to Abbey Wood?
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 Abbey Wood is 32% 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.
For the city of Abbey Wood, what is the education level?
In the city of Abbey Wood, 24% 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 Abbey Wood is £45,100. 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.
What’s the crime rate in Abbey Wood?
For every one thousand people living in Abbey Wood, 122 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 122 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.
How much do people in Abbey Wood earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £45,100.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Abbey Wood this figure is 13%.
What’s a social grade score and how does it relate to Abbey Wood?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Abbey Wood, the percentage of people in the two highest categories, A and B is 13%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £45,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (13%).
The city of Abbey Wood, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Abbey Wood and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Abbey Wood. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Do the people of Abbey Wood get to enjoy green space?
Whether you view green space in Abbey Wood as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Abbey Wood, the number of acres of green space for every 1000 people currently is 8.4 which can be measured against the UK average of 1.7.
Always consider average rental yield when searching for houses for sale in Abbey Wood
Is the housing market in Abbey Wood growing?
The growth of an area like Abbey Wood 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 | |
|---|---|---|---|
| Abbey Wood growth rate | 9% | 14% | 13% |
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 Abbey Wood if you want to find out the exact reasons for the housing change.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Abbey Wood. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Abbey Wood.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (London), a regional level (Greater London) and finally on the level of the city talked about in this article, Abbey Wood.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Abbey Wood | 4.3% | £1,509 | no relevant data for this city | 13.0% |
| London | 3.96% | £2,001 | 129.93% | 12.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
You may also find it useful to compare the data above to the number of properties sold per month Abbey Wood experiences. This figure for house sales per month is 7. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Advice from experts on properties for sale in Abbey Wood
A house for sale appropriate to your needs
When browsing houses for sale in Abbey Wood you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
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House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
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Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
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energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
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Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
House for sale in the same UK region
You can assess the various houses for sale offered in the area by consulting this list of cities in Greater London, the same UK region as Abbey Wood:
- Dagenham in Greater London
- Purfleet in Greater London
- Enfield-Highway in Greater London
- Twickenham in Greater London
- Acton in Greater London
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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
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