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What is it like buying a house in Deptford?

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 Deptford?

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As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Deptford. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Deptford to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Deptford will be revealed. Keep reading.

Are you considering other cities with houses for sale?

If you are looking for a list of cities that are different to the City of Deptford and in different UK region to Greater London. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

Get professional help on the houses for sale in Deptford

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.

What are the people like in Deptford?

Are the people in Deptford earning a lot?

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 £50,600.00.

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 Deptford this figure is 24%.

What’s a social grade score and how does it relate to Deptford?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Deptford compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Deptford, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 24%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

Deptford within London is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Deptford 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 Deptford.

Is there sufficient green space in Deptford?

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 Deptford, the city has 2 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 Deptford.

Are the people of Deptford deprived?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Deptford is £0 and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

What does the population of Deptford 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 Deptford if 52271 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 Deptford such as rental yield or house appreciation.

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

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

In the last decade, the population of Deptford has been adjusted by 13%. 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 Deptford, what is the crime rate?

For the city of Deptford, crime rate is at 13750%. So for every 1000 people in the area, 13750% commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Is the education level of Deptford important when buying a house?

In the city of Deptford, 41% 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 Deptford is £50,600.00.

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

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

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Deptford, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area and how much you can charge for rent in your ast (assured tenancy shorthold).

In Deptford, how has the number of houses changed?

The growth of an area like Deptford can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Deptford growth rate -3% 1% 3%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Deptford if you want to find out the exact reasons for the housing change.

Choose the right house for sale that suits your needs

What parameters impact the final price of a house for sale in Deptford?
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.

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

When investors make offers for houses for sale in Deptford, the average price asked by the homeowners works out to be £441,765.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Deptford is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Average prices for the houses for sale in Deptford

Average asking price (1 bed) £331,027
Average asking price (2 bed) £462,631
Average asking price (3 bed) £667,265
Average asking price (4 bed) no relevant data for this city
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 £6,485. 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 Deptford has a lack of supply of housing in certain categories.

In Deptford, what do houses for sale tend to sell for?

In Deptford, houses for sale are sold at an average of £444,829. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Deptford. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) no relevant data for this city
Aerage sold price (semi-detached) £967,876
Aerage sold price (terraced) £646,230
Aerage sold price (flat) £402,193

As you can see above, for Deptford, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 13% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £6,430
Aerage sold price/sqft (new build) £6,835
Aerage sold price/sqft (old stock) £6,090

Looking at the second table about Deptford, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Deptford is £6,455.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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