What is it like buying a house in Chadwell Heath?

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 Chadwell Heath?

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 Chadwell Heath, London.

From the average asking price of houses for sale in Chadwell Heath to the growth of the population in the area, all will be talked about regarding the city of Chadwell Heath. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

In Chadwell Heath, what is the asking price in general for a house for sale?

In the city of Chadwell Heath, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £292,143
Average asking price (3 bed) £471,231
Average asking price (4 bed) £562,750
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 (£0) for houses for sale with this table to get a good idea as to whether Chadwell Heath 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 Chadwell Heath 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 £442,687.

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 Chadwell Heath.

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

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 Chadwell Heath, 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)
Chadwell Heath 4.1% £1,524 no relevant data for this city 18.0%
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 Chadwell Heath you might be interested in the number of sales per month (16) that happen in the local housing market. Comparing this figure for Chadwell Heath with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Chadwell Heath?

Before committing to Chadwell Heath 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
Chadwell Heath growth rate -1% 10% 14%

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 Chadwell Heath is building housing to find your answer.

What are the people like in Chadwell Heath?

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

Whether you view green space in Chadwell Heath 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 Chadwell Heath, the number of acres of green space for every 1000 people currently is 17.7 which can be measured against the UK average of 1.7.

What is the city of Chadwell Heath’s social grade score?

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 Chadwell Heath in grades A or B which are the highest skilled roles in the country is 20%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £45,700 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 20%.

In Chadwell Heath, how educated are people in general?

In the city of Chadwell Heath, 25% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Chadwell Heath is £45,700.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

Chadwell Heath 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 Chadwell Heath 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 Chadwell Heath, 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.

How much do people in Chadwell Heath 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 Chadwell Heath, this works out to be £45,700. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Are the deprivation levels of the UK any different to Chadwell Heath?

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 Chadwell Heath is 29%.

In Chadwell Heath, what is the crime rate?

The crime rate of Chadwell Heath 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 112, 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 (112) is both useful and is recommended to be compared to the average.

What does the population of Chadwell Heath look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Chadwell Heath if 32,912 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 Chadwell Heath such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Chadwell Heath 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 Chadwell Heath?

In the last decade, the population of Chadwell Heath has been adjusted by 14%. 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 general, what do houses for sale sell for in Chadwell Heath?

As well as looking at the asking price for house for sale in Chadwell Heath, 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 Chadwell Heath.

Houses for sale, are sold on average in Chadwell Heath, after the influence of these factors, at £377,494 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 14% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £447,036
Aerage sold price (semi-detached) £417,183
Aerage sold price (terraced) £392,947
Aerage sold price (flat) £232,167

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

Housing category Sale price per square foot
Aerage sold price/sqft £4,120
Aerage sold price/sqft (new build) £3,970
Aerage sold price/sqft (old stock) £4,060

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 Chadwell Heath is £4,120.

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