Chelsea 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 Chelsea.
On top of this, keep reading for detailed information on the demographics of Chelsea 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.
Are there any important statistics about the population of Chelsea?
What’s a social grade score and how does it relate to Chelsea?
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 Chelsea, the percentage of people in the two highest categories, A and B is 46%. 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 £57,050. This income will generally get bigger as the percentage of people in the A and B categories go up too (46%).
What does the population of Chelsea look like?
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 Chelsea is 40,607.
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 Chelsea.
In Chelsea, how has the population changed over the last five years?
In the last five years, over time, the change in population size was -1%. 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 Chelsea 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 (-1%) 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.
Chelsea population difference over 10 years?
The population has adjusted in the area of Chelsea by -2% 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 Chelsea.
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.
In the city of Chelsea, how much green space remains for residents?
Whether you view green space in Chelsea 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 Chelsea, the number of acres of green space for every 1000 people currently is 2.1 which can be measured against the UK average of 1.7.
How much do people in Chelsea earn?
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 £57,050.
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 Chelsea this figure is 46%.
Is the crime rate bad in the city of Chelsea?
For every one thousand people living in Chelsea, 148 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 148 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
What is the education level like in Chelsea?
In Chelsea, the proportion of people who have a degree is 53%. 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 Chelsea is £57,050.
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.
The city of Chelsea, 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 Chelsea 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 Chelsea. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How deprived is the population of Chelsea?
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 Chelsea is 19%.
What’s the rental yield in general for the city of Chelsea?
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 Chelsea.
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)|
Also, you can compare other data to the table above such as the number of houses sold per month in Chelsea which is 34 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 Chelsea is to invest in. Both in terms of rental yield and capital appreciation.
In Chelsea, 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 Chelsea that shows the growth in recent years.
|1 year||3 years||5 years|
|Chelsea growth rate||3%||6%||-2%|
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 Chelsea is important.
What is the final sale price of a house in Chelsea?
As well as looking at the asking price for house for sale in Chelsea, 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 Chelsea.
Houses for sale, are sold on average in Chelsea, after the influence of these factors, at £1,374,383 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 -2% 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)||£7,033,462|
|Aerage sold price (terraced)||£3,299,554|
|Aerage sold price (flat)||£1,001,247|
This table above shows the average sale price for each variation of houses for sale in Chelsea.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£14,480|
|Aerage sold price/sqft (new build)||£23,160|
|Aerage sold price/sqft (old stock)||£14,520|
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 Chelsea is £14,800.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What is the asking price on average of houses for sale in Chelsea?
On average, in Chelsea, the asking price for a house for sale in the area is £1,500,650.
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 Chelsea. 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.
Average price of houses for sale in Chelsea
|Average asking price (1 bed)||£733,423|
|Average asking price (2 bed)||£1,266,330|
|Average asking price (3 bed)||£2,406,793|
|Average asking price (4 bed)||£4,236,471|
|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 £15,125. 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 Chelsea has a lack of supply of housing in certain categories.
Advice from experts on properties for sale in Chelsea
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
House for sale in the same UK region
We have prepared a list of cities in Greater London, the same UK region of Chelsea that can help you evaluate the different houses for sale listed in the region:
- Hayes in Greater London
- Coulsdon in Greater London
- Weybridge in Greater London
- Beddington in Greater London
- Anerley in Greater London
Alternatively, you can visit our webpage dedicated to houses for sale in 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 Chelsea?
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.