What is it like buying a house in Avery Hill?

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 Avery Hill?

Avery Hill 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 Avery Hill.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Avery Hill. In Avery Hill, this sale price works out to be £419,884. As an example, a factor like population growth over the last 10 years which works out to be 12% in Avery Hill and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £684,211
Average sold price (semi-detached) £500,737
Average sold price (terraced) £392,153
Average sold price (flat) £272,998

Above, the exact type of house is also shown to vary in price in a table in Avery Hill. 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 £4,640
Average sold price/sqft (new build) £4,920
Average sold price/sqft (old stock) £4,560

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 Avery Hill which is £4,860. 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 Avery Hill, what is the asking price in general for a house for sale?

When speaking about the city of Avery Hill, £494,515 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Avery Hill.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Average asking prices for houses for sale in Avery Hill

Average asking price (1 bed) £265,000
Average asking price (2 bed) £378,529
Average asking price (3 bed) £507,971
Average asking price (4 bed) £696,851
Average asking price (5 bed) £818,077

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £2,735. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Avery Hill has a lack of supply of housing in certain categories.

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

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 Avery Hill to London and the broader suburb of the UK; Greater London.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Avery Hill 3.8% £1,539 140% 27.5%
London 3.96% £2,001 129.93% 12.05%
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 Avery Hill for profit in the future, in this case, looking at the data for the number of houses sold per month in Avery Hill would give you an idea of whether the area is actively getting new investors. This figure is 68.

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

Are there new houses being built in Avery Hill to make it grow?

Before committing to Avery Hill 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
Avery Hill growth rate 3% 15% 18%

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 Avery Hill is building housing to find your answer.

What are the people like in Avery Hill?

Avery Hill 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, Avery Hill 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 Avery Hill.

What is the education level like in Avery Hill?

The number of people as a percentage who have been through university and gained a degree is 23%. The ability to buy a home is greatly influenced by the number of people who have degrees. £52,600 is the amount people in Avery Hill are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Avery Hill, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

How much do people in Avery Hill earn?

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 Avery Hill. Compare the area’s average household income of £52,600 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 22% for more conclusive data on the affluence of the area.

In general, do people commit a lot of crime in Avery Hill?

Within Avery Hill, the number of people committing crimes is 81 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 81 figure carefully.

What is a social grade score and how does this relate to Avery Hill?

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 Avery Hill in grades A or B which are the highest skilled roles in the country is 22%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £52,600 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 22%.

Do the people of Avery Hill get to enjoy green space?

In the city of Avery Hill, there are 13.0 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 Avery Hill is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Are the deprivation levels of the UK any different to Avery Hill?

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 Avery Hill is 25% 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.

What is the population of Avery Hill?

The city of Avery Hill has a total population of 92,205. 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 Avery Hill 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 Avery Hill

Over time, in the last five years, the population of the city of Avery Hill has changed by 4%. 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 4% 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 Avery Hill?

In the last 10 years, there has been a shift in the population of 12%.

Comparing this to the 5 year figure of Avery Hill 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.