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

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 Bow?

Bow 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 Bow 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 Bow.

What kind of demographics does the city of Bow have?

Are the people of Bow deprived?

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 Bow is 34%.

What salary does the community in Bow 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 Bow. Compare the area’s average household income of £50,400 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 24% for more conclusive data on the affluence of the area.

Have the people of Bow grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bow if 103,862 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 Bow such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Bow by 9%. 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 9% 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 Bow?

In the last decade, the population of Bow has been adjusted by 26%. 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 is the social grade score of Bow?

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 Bow in grades A or B which are the highest skilled roles in the country is 24%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £50,400 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 24%.

How educated are the people in Bow?

The number of people as a percentage who have been through university and gained a degree is 37%. The ability to buy a home is greatly influenced by the number of people who have degrees. £50,400 is the amount people in Bow 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 Bow, 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.

Is the crime rate bad in the city of Bow?

The crime rate of Bow must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 207, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (207) is both useful and is recommended to be compared to the average.

The city of Bow, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Bow and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Bow. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Is there sufficient green space in Bow?

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 Bow, 6.4 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 Bow.

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

As well as looking at the asking price for house for sale in Bow, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Bow.

Houses for sale, are sold on average in Bow, after the influence of these factors, at £455,168 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 26% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) no relevant data for this city
Aerage sold price (semi-detached) £490,308
Aerage sold price (terraced) £671,886
Aerage sold price (flat) £416,926

This table above shows the average sale price for each variation of houses for sale in Bow.

Housing category Sale price per square foot
Aerage sold price/sqft £6,285
Aerage sold price/sqft (new build) £6,715
Aerage sold price/sqft (old stock) £5,850

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Bow is £6,325.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Asking price in Bow for a house for sale

Table showing the asking prices for houses for sale in Bow

Average asking price (1 bed) £345,210
Average asking price (2 bed) £445,581
Average asking price (3 bed) £618,560
Average asking price (4 bed) £1,190,385
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 (£6,370) for houses for sale with this table to get a good idea as to whether Bow is the right area to buy a house in for you.

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Bow determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £452,084.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Bow.

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

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Bow.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (London) as well as the broader region; Greater London.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bow 5.1% £1,933 140% 10.5%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

Also, you can compare other data to the table above such as the number of houses sold per month in Bow which is 56 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Bow is to invest in. Both in terms of rental yield and capital appreciation.

Is the housing market in Bow growing?

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 Bow that shows the growth in recent years.

1 year 3 years 5 years
Bow growth rate 1% 3% 12%

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 Bow is important.

Get professional help on the houses for sale in Bow

Other cities you can consider looking for with houses for sale

See here below a list of cities in the same UK region of Bow which is Greater London. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Invest in a house for sale that meets your demands

What parameters impact the final price of a house for sale in Bow?
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.

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