Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Bexley, London.
From the average asking price of houses for sale in Bexley to the growth of the population in the area, all will be talked about regarding the city of Bexley. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What are the demographics like in the city of Bexley?
In Bexley, 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 24% for Bexley should give you a nice idea of the deprivation in the area.
For the city of Bexley, what is the education level?
In Bexley, the proportion of people who have a degree is 22%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Bexley is £50,200.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
How much do people in Bexley earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (20%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Bexley, this works out to be £50,200. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Bexley, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bexley if 128,353 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 Bexley such as rental yield or house appreciation.
How has the population size of Bexley adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Bexley by 3%. 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 3% 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 Bexley?
In the last decade, the population of Bexley has been adjusted by 8%. 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.
What’s the crime rate in Bexley?
In Bexley, for every 1000 people, there is currently a crime rate of 93. 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 (93 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.
Do the people of Bexley get to enjoy green space?
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 Bexley, 14.7 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 Bexley.
Located in London is the city of Bexley, 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 Bexley 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 Bexley 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’s a social grade score and how does it relate to Bexley?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Bexley, the percentage of people in the two highest categories, A and B is 20%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £50,200. This income will generally get bigger as the percentage of people in the A and B categories go up too (20%).
How are rental yields of the houses for sale different to the rest of the UK in Bexley?
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Bexley. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Bexley.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (London), a regional level (Greater London) and finally on the level of the city talked about in this article, Bexley.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bexley | 4.2% | £1,478 | no relevant data for this city | 25.4% |
| London | 3.96% | £2,001 | 129.93% | 12.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
You may also find it useful to compare the data above to the number of properties sold per month Bexley experiences. This figure for house sales per month is 92. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
In Bexley, 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 Bexley that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Bexley growth rate | 5% | 15% | 19% |
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 Bexley is important.
In general, what do houses for sale sell for in Bexley?
In Bexley, the average sale price of a house for sale is in fact £376,276. This is dependent on the 10 year population growth of Bexley being 8%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bexley.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £534,701 |
| Aerage sold price (semi-detached) | £417,699 |
| Aerage sold price (terraced) | £360,037 |
| Aerage sold price (flat) | £244,729 |
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 Bexley.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £4,164 |
| Aerage sold price/sqft (new build) | £3,742 |
| Aerage sold price/sqft (old stock) | £4,082 |
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 £4,224. This means if you are just looking out the houses sold in Bexley in general and didn’t take into consideration the type of build. For example, a new build.
On average, what is the figure for the asking price of a house for sale in Bexley?
Average price of houses for sale in Bexley
| Average asking price (1 bed) | £264,600 |
| Average asking price (2 bed) | £335,356 |
| Average asking price (3 bed) | £464,229 |
| Average asking price (4 bed) | £634,538 |
| Average asking price (5 bed) | £638,500 |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Bexley 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 £862 should also give you an overview of what the asking price for houses for sale are in general.
When investors make offers for houses for sale in Bexley, the average price asked by the homeowners works out to be £438,783.
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 Bexley 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.
Who can help you buy a house for sale in Bexley?
Finding the ideal house for sale for you
When browsing houses for sale in Bexley 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.
Thinking about other cities with houses for sale?
See here below a list of cities in the same UK region of Bexley which is Greater London. You might want to consider these as alternatives for your next real estate investment:
- Grays in Greater London
- Putney in Greater London
- Broxbourne in Greater London
- Acton in Greater London
- Avery-Hill in Greater London
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
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