How much will you pay for a house for sale in Blackheath?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much will you pay for a house for sale in Blackheath?

Blackheath 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 Blackheath.

On top of this, keep reading for detailed information on the demographics of Blackheath 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.

Asking price in Blackheath for a house for sale

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

Average asking price (1 bed) £317,184
Average asking price (2 bed) £349,274
Average asking price (3 bed) £489,697
Average asking price (4 bed) £944,386
Average asking price (5 bed) £1,702,500

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Blackheath is £2,307. This should show you the general prices overall and for individual types of houses too.

When speaking about the city of Blackheath, £418,100 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 Blackheath.

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.

How are rental yields of the houses for sale different to the rest of the UK in Blackheath?

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 Blackheath 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 Blackheath.

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)
Blackheath 4.2% £1,822 136% 20.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

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 Blackheath.

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 (63) will be useful.

Is the housing market in Blackheath growing?

Before committing to Blackheath 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
Blackheath growth rate 6% 20% 22%

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 Blackheath is building housing to find your answer.

In Blackheath, what do houses for sale tend to sell for?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Blackheath. In Blackheath, this sale price works out to be £371,477. As an example, a factor like population growth over the last 10 years which works out to be 12% in Blackheath and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £882,830
Average sold price (semi-detached) £463,657
Average sold price (terraced) £407,685
Average sold price (flat) £280,150

Above, the exact type of house is also shown to vary in price in a table in Blackheath. 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 £4,357
Average sold price/sqft (new build) £4,907
Average sold price/sqft (old stock) £4,260

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 Blackheath which is £4,477. 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 Blackheath have?

What salary does the community in Blackheath take home?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £48,100.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Blackheath this figure is 26%.

Is there sufficient green space in Blackheath?

Whether you view green space in Blackheath 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 Blackheath, the number of acres of green space for every 1000 people currently is 13.9 which can be measured against the UK average of 1.7.

Have the people of Blackheath grown in numbers?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Blackheath is 82,245.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Blackheath.

In Blackheath, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 4%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Blackheath is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (4%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Blackheath population difference over 10 years?

The population has adjusted in the area of Blackheath by 12% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Blackheath.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

How deprived is the population of Blackheath?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Blackheath is 29%.

Blackheath in the county of London is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Blackheath is located in; Greater London.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Blackheath, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

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

In Blackheath, the proportion of people who have a degree is 30%. 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 Blackheath is £48,100.

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.

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

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 Blackheath in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £48,100 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 26%.

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

In Blackheath, for every 1000 people, there is currently a crime rate of 105. 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 (105 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.