What is it like buying a house in Blackwall?

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 Blackwall?

Whenever looking for a house for sale in the UK or in Blackwall, it is vital you look at the market trends and house price fluctuations in the wider area of London too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Blackwall.

In this article, we will be looking at the city of Blackwall in detail so you know how to navigate the area and have a better understanding on where to invest.

On average, what is the figure for the asking price of a house for sale in Blackwall?

On average, in Blackwall, the asking price for a house for sale in the area is £571,254.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Blackwall. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

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

Average asking price (1 bed) £450,031
Average asking price (2 bed) £631,693
Average asking price (3 bed) £918,265
Average asking price (4 bed) £924,373
Average asking price (5 bed) no relevant data for this city

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 £8,380. 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 Blackwall has a lack of supply of housing in certain categories.

In general, for the city of Blackwall, what are the final purchase prices for the houses for sale?

In Blackwall, houses for sale are sold at an average of £542,900. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Blackwall. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) no relevant data for this city
Aerage sold price (semi-detached) £743,058
Aerage sold price (terraced) £664,460
Aerage sold price (flat) £511,463

As you can see above, for Blackwall, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 34% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £7,780
Aerage sold price/sqft (new build) £8,560
Aerage sold price/sqft (old stock) £6,770

Looking at the second table about Blackwall, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Blackwall is £8,080.

Why you should consider the average rental yield when searching for houses for sale in Blackwall

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

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 Blackwall that shows the growth in recent years.

1 year 3 years 5 years
Blackwall growth rate -14% 9% 10%

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 Blackwall 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 Blackwall, 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)
Blackwall 4.5% £2,151 140% 3.0%
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 Blackwall you might be interested in the number of sales per month (53) that happen in the local housing market. Comparing this figure for Blackwall with the above table gives you a good understanding of the profitability of the area.

In Blackwall, what are the demographics like?

How much are those living in Blackwall earning?

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 (40%). 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 Blackwall, this works out to be £60,500. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Is the crime rate bad in the city of Blackwall?

Within Blackwall, the number of people committing crimes is 185 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 185 figure carefully.

What does the population of Blackwall look like?

The city of Blackwall has a total population of 79,759. 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 Blackwall 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 Blackwall

Over time, in the last five years, the population of the city of Blackwall has changed by 13%. 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 13% 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 Blackwall?

In the last 10 years, there has been a shift in the population of 34%.

Comparing this to the 5 year figure of Blackwall 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.

How deprived is the population of Blackwall?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Blackwall, in particular, the deprivation levels are 29%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

What is the social grade score of Blackwall?

In the city of Blackwall and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Blackwall has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 40%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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 Blackwall, how educated are people in general?

Interestingly, the percentage of people who have a degree in the city of Blackwall is 45%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Blackwall is £60,500.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

Blackwall 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 Blackwall 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 Blackwall, 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.

Do the people of Blackwall get to enjoy green space?

In the city of Blackwall, there are 1.4 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 Blackwall is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Invest in houses for sale in Blackwall with the right professional advice

A house for sale that is right for you

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Blackwall

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • 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.

Are you considering other cities with houses for sale?

We have prepared a list of cities in Greater London, the same UK region of Blackwall that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.