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 Cranford, London.
From the average asking price of houses for sale in Cranford to the growth of the population in the area, all will be talked about regarding the city of Cranford. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, for the city of Cranford, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Cranford. In Cranford, this sale price works out to be £466,039. As an example, a factor like population growth over the last 10 years which works out to be 9% in Cranford and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£677,996|
|Average sold price (semi-detached)||£507,155|
|Average sold price (terraced)||£436,274|
|Average sold price (flat)||£272,821|
Above, the exact type of house is also shown to vary in price in a table in Cranford. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£4,610|
|Average sold price/sqft (new build)||£4,130|
|Average sold price/sqft (old stock)||£4,510|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Cranford which is £4,670. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
In Cranford, what are the demographics like?
Is there sufficient green space in Cranford?
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 Cranford, the city has 14.0 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 Cranford.
How much do people in Cranford 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 Cranford. Compare the area’s average household income of £50,000 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 18% for more conclusive data on the affluence of the area.
What is the social grade score of Cranford?
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 Cranford in grades A or B which are the highest skilled roles in the country is 18%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £50,000 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 18%.
In the city of Cranford, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Cranford if 29,196 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 Cranford such as rental yield or house appreciation.
How has the population size of Cranford adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Cranford by 2%. 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 2% 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 Cranford?
In the last decade, the population of Cranford has been adjusted by 9%. 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 Cranford, how educated are people in general?
In the city of Cranford, 31% 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 Cranford is £50,000.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In Cranford, what are the deprivation levels like?
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 Cranford is 31%.
In the city of Cranford, 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 Cranford 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 Cranford in Greater London.
In Cranford, what is the crime rate?
Within Cranford, the number of people committing crimes is 109 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 109 figure carefully.
On average, what is the figure for the asking price of a house for sale in Cranford?
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 Cranford 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 £555,207.
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 Cranford.
Table showing the asking prices for houses for sale in Cranford
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£317,453|
|Average asking price (3 bed)||£569,689|
|Average asking price (4 bed)||£733,390|
|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 £4,740. 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 Cranford has a lack of supply of housing in certain categories.
In Cranford, what are the rental yields?
Are there new houses being built in Cranford to make it grow?
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 Cranford that shows the growth in recent years.
|1 year||3 years||5 years|
|Cranford growth rate||no relevant data for this city||10%||34%|
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 Cranford is important.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Cranford this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (Greater London) alongside London then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Cranford.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Cranford.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (7) will be useful.
Get professional help on the houses for sale in Cranford
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What parameters impact the final price of a house for sale in Cranford?
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.
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
Other cities you can consider looking for with houses for sale
See here below a list of cities in the same UK region of Cranford which is Greater London. You might want to consider these as alternatives for your next real estate investment:
- Putney in Greater London
- Chadwell-Heath in Greater London
- Charlton in Greater London
- Crockenhill in Greater London
- Bulphan in Greater London
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.