What is it like buying a house in Aveley?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ What is it like buying a house in Aveley?

Aveley 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 Aveley.

On top of this, keep reading for detailed information on the demographics of Aveley in Essex. 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 general, what do houses for sale sell for in Aveley?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Aveley. In Aveley, this sale price works out to be £308,050. As an example, a factor like population growth over the last 10 years which works out to be 12% in Aveley and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £431,157
Average sold price (semi-detached) £336,210
Average sold price (terraced) £291,082
Average sold price (flat) £187,812

Above, the exact type of house is also shown to vary in price in a table in Aveley. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £3,620
Average sold price/sqft (new build) £3,900
Average sold price/sqft (old stock) £3,450

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Aveley which is £3,620. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

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

Average price of houses for sale in Aveley

Average asking price (1 bed) £182,000
Average asking price (2 bed) £317,961
Average asking price (3 bed) £399,787
Average asking price (4 bed) £515,833
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 Aveley is the right area to buy a house in for you.

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 Aveley is £373,670.

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 Aveley is useful when negotiating and knowing what to expect for every type of house for sale.

What are the people like in Aveley?

Aveley within Essex is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Aveley 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 Aveley.

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

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 Aveley is 34% 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 Aveley, how educated are people in general?

In the city of Aveley, 14% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Aveley is £39,500.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

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

Whether you view green space in Aveley 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 Aveley, the number of acres of green space for every 1000 people currently is 56.4 which can be measured against the UK average of 1.7.

What is the population of Aveley?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Aveley if 27,438 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 Aveley such as rental yield or house appreciation.

How has the population size of Aveley adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Aveley by 6%. 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 6% 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 Aveley?

In the last decade, the population of Aveley has been adjusted by 12%. 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.

In Aveley, what is the crime rate?

The crime rate of Aveley 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 139, 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 (139) is both useful and is recommended to be compared to the average.

What salary does the community in Aveley take home?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Aveley. Compare the area’s average household income of £39,500 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 11% for more conclusive data on the affluence of the area.

In Aveley, what is the social grade score?

In the city of Aveley, the social grade score of the area is 11%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Aveley.

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

What’s the rental yield in general for the city of Aveley?

Is the housing market in Aveley growing?

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 Aveley at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Aveley growth rate 7% 12% 20%

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 Aveley 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 Aveley.

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 Aveley to Essex and the broader suburb of the UK; Greater London.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Aveley no relevant data for this city no relevant data for this city no relevant data for this city 24.0%
Essex 3.51% £1,237 125.97% 17.61%
Greater London 3.88% £1,899 129.14% 13.30%

Let’s assume you want to sell the house you’re looking to buy in Aveley for profit in the future, in this case, looking at the data for the number of houses sold per month in Aveley would give you an idea of whether the area is actively getting new investors. This figure is 18.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Aveley. 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.