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 Colliers Wood, London.
From the average asking price of houses for sale in Colliers Wood, to the growth of the population in the area, all will be talked about regarding the city of Colliers Wood. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Professional advice for houses for sale in Colliers Wood
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.
A house for sale that is right for you
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 Colliers Wood.
- 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.
What are the people like in Colliers Wood?
How much do people in Colliers Wood earn?
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 Colliers Wood. Compare the area’s average household income of £67,300.00 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 0.48 for more conclusive data on the affluence of the area.
What’s crime like in Colliers Wood?
In Colliers Wood, for every 1000 people, there is currently a crime rate of 91. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (91 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
What’s a social grade score and how does it relate to Colliers Wood?
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 Colliers Wood in grades A or B which are the highest skilled roles in the country is 0.48.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £67,300.00 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 0.48.
In the city of Colliers Wood, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of London for example.
These demographics for Colliers Wood may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Colliers Wood in Greater London.
In Colliers Wood, how educated are people in general?
In Colliers Wood, the proportion of people who have a degree is 56%. 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 Colliers Wood is £67,300.00.
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.
Have the people of Colliers Wood grown in numbers?
The city of Colliers Wood has a total population of 77439. 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 Colliers Wood 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 Colliers Wood
Over time, in the last five years, the population of the city of Colliers Wood has changed by 1%. 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 1% 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 Colliers Wood?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Colliers Wood 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.
In the city of Colliers Wood, how much green space remains for residents?
In the city of Colliers Wood, there are 20 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 Colliers Wood is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Colliers Wood, what are the deprivation levels like?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of £0 for Colliers Wood should give you a nice idea of the deprivation in the area.
In Colliers Wood, what do houses for sale tend to sell for?
For the city of Colliers Wood, the average price a house sells for is £667,223. This value usually depends on the exact location of the house within Colliers Wood as well as other factors like the population growth which is 5% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£2,855,267|
|Aerage sold price (semi-detached)||£1,146,780|
|Aerage sold price (terraced)||£830,927|
|Aerage sold price (flat)||£433,042|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Colliers Wood.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£7,170|
|Aerage sold price/sqft (new build)||£7,020|
|Aerage sold price/sqft (old stock)||£7,140|
Generalising the bottom table, the average value per square foot of a house for sale is £7,410. This value averages all of the types of houses for sale in Colliers Wood. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Colliers Wood.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.
Why you should consider the average rental yield when searching for houses for sale in Colliers Wood
Are there more or fewer houses being built in Colliers Wood?
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 Colliers Wood that shows the growth in recent years.
|1 year||3 years||5 years|
|Colliers Wood growth rate||1%||11%||15%|
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 Colliers Wood 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 Colliers Wood, 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)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Colliers Wood you might be interested in the number of sales per month (50) that happen in the local housing market. Comparing this figure for Colliers Wood with the above table gives you a good understanding of the profitability of the area.
Other cities in different locations you can consider to buy property
If you are looking for similar places to buy a house that are just like Colliers Wood, examine this short list of cities below from outside of the region of Greater London for some inspiration.
- barley in Greater London
- chalgrove in Greater London
- goodrington in Greater London
- bentley in Greater London
- eastoke in Greater London
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
In Colliers Wood, what is the asking price in general for a house for sale?
Table showing the asking prices for houses for sale in Colliers Wood
|Average asking price (1 bed)||£382,808|
|Average asking price (2 bed)||£554,066|
|Average asking price (3 bed)||£815,345|
|Average asking price (4 bed)||£1,306,622|
|Average asking price (5 bed)||£2,283,291|
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 £7,660. 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 Colliers Wood has a lack of supply of housing in certain categories.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Colliers Wood is £727,080.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Colliers Wood is useful when negotiating and knowing what to expect for every type of house for sale.