Bedford Park might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of London.
Before looking for a house for sale in the city of Bedford Park we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Bedford Park.
In Bedford Park, what is the asking price in general for a house for sale?
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 Bedford Park is £665,258.
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 Bedford Park is useful when negotiating and knowing what to expect for every type of house for sale.
In the city of Bedford Park, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£423,801|
|Average asking price (2 bed)||£619,470|
|Average asking price (3 bed)||£757,654|
|Average asking price (4 bed)||£1,201,042|
|Average asking price (5 bed)||£1,705,333|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Bedford Park 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 £8,330 should also give you an overview of what the asking price for houses for sale are in general.
Always consider average rental yield when searching for houses for sale in Bedford Park
Are there new houses being built in Bedford Park 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 Bedford Park at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Bedford Park growth rate||-12%||5%||8%|
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 Bedford Park 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 Bedford Park.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Bedford Park this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (Greater London) alongside London then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Bedford Park.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Bedford Park.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (21) will be useful.
In general, what do houses for sale sell for in Bedford Park?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Bedford Park. In Bedford Park, this sale price works out to be £731,161. As an example, a factor like population growth over the last 10 years which works out to be 2% in Bedford Park and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||no relevant data for this city|
|Average sold price (semi-detached)||£1,485,385|
|Average sold price (terraced)||£1,023,233|
|Average sold price (flat)||£616,872|
Above, the exact type of house is also shown to vary in price in a table in Bedford Park. 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||£7,870|
|Average sold price/sqft (new build)||£12,110|
|Average sold price/sqft (old stock)||£7,630|
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 Bedford Park which is £8,100. 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.
What kind of demographics does the city of Bedford Park have?
What salary does the community in Bedford Park 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 Bedford Park. Compare the area’s average household income of £49,600 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 28% for more conclusive data on the affluence of the area.
In Bedford Park, what is the social grade score?
In the city of Bedford Park, the social grade score of the area is 28%. 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 Bedford Park.
|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 is the population of Bedford Park?
In total, the number of people in Bedford Park is 48,273. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Bedford Park, depending on where exactly you are.
How has Bedford Park changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Bedford Park has changed by 1%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 1% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Bedford Park?
2% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Bedford Park have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
In the city of Bedford Park, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of London for example.
These demographics for Bedford Park may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Bedford Park in Greater London.
Is there sufficient green space in Bedford Park?
Whether you view green space in Bedford Park 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 Bedford Park, the number of acres of green space for every 1000 people currently is 5.3 which can be measured against the UK average of 1.7.
For the city of Bedford Park, what is the education level?
In the city of Bedford Park, 43% 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 Bedford Park is £49,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Is the city of Bedford Park deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bedford Park, currently, 29% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
Is the crime rate bad in the city of Bedford Park?
In Bedford Park, for every 1000 people, there is currently a crime rate of 184. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (184 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
Who can help you buy a house for sale in Bedford Park?
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Bedford Park.
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.
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to Bedford Park.
Reading these analysis will help you evaluate the different houses for sale currently listed in Greater London:
- Chalk in Greater London
- Tottenham in Greater London
- Becontree in Greater London
- Purfleet in Greater London
- Chigwell in Greater London
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.