As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Aldgate. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Aldgate to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Aldgate will be revealed. Keep reading.
In general, for the city of Aldgate, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Aldgate, 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 Aldgate.
Houses for sale, are sold on average in Aldgate, after the influence of these factors, at £1,126,299 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 48% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | no relevant data for this city |
| Aerage sold price (semi-detached) | no relevant data for this city |
| Aerage sold price (terraced) | no relevant data for this city |
| Aerage sold price (flat) | £1,056,107 |
This table above shows the average sale price for each variation of houses for sale in Aldgate.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £14,900 |
| Aerage sold price/sqft (new build) | £15,870 |
| Aerage sold price/sqft (old stock) | £9,750 |
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 Aldgate is £14,900.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What is the asking price on average of houses for sale in Aldgate?
When investors make offers for houses for sale in Aldgate, the average price asked by the homeowners works out to be £1,095,925.
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 Aldgate 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.
The average asking price for the houses for sale in the city of Aldgate
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | no relevant data for this city |
| Average asking price (3 bed) | no relevant data for this city |
| Average asking price (4 bed) | no relevant data for this city |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Aldgate is the right area to buy a house in for you.
What are the demographics like in the city of Aldgate?
Is the education level of Aldgate important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Aldgate is 73%. 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 Aldgate is £66,300.
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.
What’s crime like in Aldgate?
The crime rate of Aldgate 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 2,987, 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 (2,987) is both useful and is recommended to be compared to the average.
In the city of Aldgate, has the population grown or shrunk?
The city of Aldgate has a total population of 395. 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 Aldgate 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 Aldgate
Over time, in the last five years, the population of the city of Aldgate has changed by 61%. 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 61% 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 Aldgate?
In the last 10 years, there has been a shift in the population of 48%.
Comparing this to the 5 year figure of Aldgate 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 Aldgate earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Aldgate, the average income is £66,300. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 65% to decide on what the demographics are like in the area.
Is there sufficient green space in Aldgate?
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 Aldgate, 8.2 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 Aldgate.
In Aldgate, what are the deprivation levels like?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Aldgate, in particular, the deprivation levels are 10%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What’s a social grade score and how does it relate to Aldgate?
In the city of Aldgate and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Aldgate has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 65%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| Social Score | Category | The proportion of the UK population (%) |
|---|---|---|
| A | Professional, managerial or administrative | 4 |
| B | Intermediate managerial or professional jobs | 23 |
| C1 | Supervisory, junior managerial or professional jobs | 29 |
| C2 | Skilled manual workers | 21 |
| D | Semi and unskilled manual workers | 15 |
| E | State pensioners, casual & lowest grade workers | 8 |
Aldgate 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, Aldgate 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 Aldgate.
How are rental yields of the houses for sale different to the rest of the UK in Aldgate?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Aldgate, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as London, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Aldgate | no relevant data for this city | no relevant data for this city | no relevant data for this city | no relevant data for this city |
| London | 3.96% | £2,001 | 129.93% | 12.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Aldgate you might be interested in the number of sales per month (0) that happen in the local housing market. Comparing this figure for Aldgate with the above table gives you a good understanding of the profitability of the area.
Are there new houses being built in Aldgate to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Aldgate at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Aldgate growth rate | no relevant data for this city | no relevant data for this city | no relevant data for this city |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Aldgate gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Aldgate.
Professional advice for houses for sale in Aldgate
A house for sale that is right for you
When browsing houses for sale in Aldgate 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.
Other cities you can consider looking for with houses for sale
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 Aldgate:
- Crockenhill in Greater London
- Stanmore in Greater London
- Redbridge in Greater London
- Cranford in Greater London
- Byfleet in Greater London
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
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