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 Chigwell, Essex.
From the average asking price of houses for sale in Chigwell to the growth of the population in the area, all will be talked about regarding the city of Chigwell. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What is the asking price on average of houses for sale in Chigwell?
Average price of houses for sale in Chigwell
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£395,058|
|Average asking price (3 bed)||£594,143|
|Average asking price (4 bed)||£954,998|
|Average asking price (5 bed)||£1,272,304|
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 (£5,610) for houses for sale with this table to get a good idea as to whether Chigwell is the right area to buy a house in for you.
When speaking about the city of Chigwell, £647,192 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 Chigwell.
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.
In general, for the city of Chigwell, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Chigwell, 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 Chigwell.
Houses for sale, are sold on average in Chigwell, after the influence of these factors, at £497,827 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 8% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£1,001,632|
|Aerage sold price (semi-detached)||£517,005|
|Aerage sold price (terraced)||£399,887|
|Aerage sold price (flat)||£304,687|
This table above shows the average sale price for each variation of houses for sale in Chigwell.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£4,720|
|Aerage sold price/sqft (new build)||£5,060|
|Aerage sold price/sqft (old stock)||£4,620|
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 Chigwell is £5,160.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Always consider average rental yield when searching for houses for sale in Chigwell
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Chigwell. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Chigwell.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Essex), a regional level (Greater London) and finally on the level of the city talked about in this article, Chigwell.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Chigwell experiences. This figure for house sales per month is 12. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Is the housing market in Chigwell growing?
Before committing to Chigwell 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|
|Chigwell growth rate||2%||7%||10%|
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 Chigwell is building housing to find your answer.
In Chigwell, what are the demographics like?
Is the crime rate bad in the city of Chigwell?
Within Chigwell, the number of people committing crimes is 106 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 106 figure carefully.
How educated are the people in Chigwell?
In Chigwell, the proportion of people who have a degree is 25%. 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 Chigwell is £48,600.
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 does the population of Chigwell look like?
In total, the number of people in Chigwell is 19,996. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Chigwell, depending on where exactly you are.
How has Chigwell changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Chigwell has changed by 2%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 2% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Chigwell?
8% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Chigwell have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Chigwell within Essex is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Chigwell will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Greater London). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Chigwell.
Are the people of Chigwell deprived?
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 Chigwell, in particular, the deprivation levels are 28%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In the city of Chigwell, how much green space remains for residents?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Chigwell, the city has 76.9 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Chigwell.
Are the people in Chigwell earning a lot?
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 (23%). 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 Chigwell, this works out to be £48,600. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
What is the city of Chigwell’s social grade score?
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 Chigwell, the percentage of people in the two highest categories, A and B is 23%. 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 £48,600. This income will generally get bigger as the percentage of people in the A and B categories go up too (23%).
Who can help you buy a house for sale in Chigwell?
A house for sale appropriate to your needs
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Chigwell.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Are you considering other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in Greater London, the same UK region as Chigwell:
- Romford in Greater London
- Egham-Hythe in Greater London
- Tottenham in Greater London
- Ilford in Greater London
- East-Central-London in Greater London
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK