What is it like buying a house in Bermondsey?

As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Bermondsey. 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 Bermondsey 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 Bermondsey will be revealed. Keep reading.

What is the asking price on average of houses for sale in Bermondsey?

The average asking price for the houses for sale in the city of Bermondsey

Average asking price (1 bed)	£456,471
Average asking price (2 bed)	£687,019
Average asking price (3 bed)	£1,027,943
Average asking price (4 bed)	£1,233,108
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 (£8,295) for houses for sale with this table to get a good idea as to whether Bermondsey is the right area to buy a house in for you.

When investors make offers for houses for sale in Bermondsey, the average price asked by the homeowners works out to be £626,356.

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 Bermondsey 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.

In general, what do houses for sale sell for in Bermondsey?

In Bermondsey, the average sale price of a house for sale is in fact £593,804. This is dependent on the 10 year population growth of Bermondsey being 13%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bermondsey.

Housing category	Total final sale price
Aerage sold price (detached)	no relevant data for this city
Aerage sold price (semi-detached)	£683,272
Aerage sold price (terraced)	£768,802
Aerage sold price (flat)	£587,505

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 Bermondsey.

Housing category	Sale price per square foot
Aerage sold price/sqft	£7,940
Aerage sold price/sqft (new build)	£9,575
Aerage sold price/sqft (old stock)	£7,650

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 £8,120. This means if you are just looking out the houses sold in Bermondsey in general and didn’t take into consideration the type of build. For example, a new build.

What are the people like in Bermondsey?

Located in London is the city of Bermondsey, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Bermondsey has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Bermondsey which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What is the social grade score of Bermondsey?

In the city of Bermondsey, the social grade score of the area is 35%. 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 Bermondsey.

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

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

In the city of Bermondsey, there are 2.7 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 Bermondsey is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

How much are those living in Bermondsey earning?

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 Bermondsey. Compare the area’s average household income of £55,750 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 35% for more conclusive data on the affluence of the area.

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

For every one thousand people living in Bermondsey, 212 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 212 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.

For the city of Bermondsey, what is the education level?

The number of people as a percentage who have been through university and gained a degree is 42%. The ability to buy a home is greatly influenced by the number of people who have degrees. £55,750 is the amount people in Bermondsey 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 Bermondsey, 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.

In Bermondsey, how has the population changed?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bermondsey if 112,697 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 Bermondsey such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Bermondsey by 4%. 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 4% 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 Bermondsey?

In the last decade, the population of Bermondsey has been adjusted by 13%. 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 Bermondsey, what are the deprivation levels like?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 29% for Bermondsey should give you a nice idea of the deprivation in the area.

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

In Bermondsey, how has the number of houses changed?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Bermondsey that shows the growth in recent years.

	1 year	3 years	5 years
Bermondsey growth rate	-6%	-11%	-11%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Bermondsey is important.

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 Bermondsey, 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)
Bermondsey	4.6%	£2,388	139%	5.5%
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 Bermondsey you might be interested in the number of sales per month (68) that happen in the local housing market. Comparing this figure for Bermondsey with the above table gives you a good understanding of the profitability of the area.

Advice from experts on properties for sale in Bermondsey

Are you considering other cities with houses for sale?

Examine this short list of cities belonging to Greater London, the same region where Bermondsey is located.

• East-Horsley in Greater London
• Ilford in Greater London
• Croydon in Greater London
• Hounslow in Greater London
• Feltham in Greater London

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

Choose the right house for sale that suits your needs

What parameters impact the final price of a house for sale in Bermondsey?
Here below is our list with the most important ones:

• House for sale affordability – check out the (see house affordability guide)

  on the UK gov website to know more

• House Location – the actual location of a house for sale drastically changes the final price of a property

• Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

• Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

• Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

• Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

• Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

• Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

• Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

• Banks – Lend you the cash
• Insurance companies – Insure your new real estate investment
• Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
• Surveyor – Carries out an independent and complete property valuation of the house for sale
• Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
• EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city