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How much will you pay for a house for sale in East Barnet?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much will you pay for a house for sale in East Barnet?

Whenever looking for a house for sale in the UK or in East Barnet, it is vital you look at the market trends and house price fluctuations in the wider area of London too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of East Barnet.

In this article, we will be looking at the city of East Barnet in detail so you know how to navigate the area and have a better understanding on where to invest.

In East Barnet, what do houses for sale tend to sell for?

In East Barnet, houses for sale are sold at an average of £666,039. 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 East Barnet. 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) £951,046
Aerage sold price (semi-detached) £772,710
Aerage sold price (terraced) £587,895
Aerage sold price (flat) £378,075

As you can see above, for East Barnet, 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 9% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £5,800
Aerage sold price/sqft (new build) £6,580
Aerage sold price/sqft (old stock) £5,730

Looking at the second table about East Barnet, 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 East Barnet is £5,770.

What are the demographics like in the city of East Barnet?

Are the people of East Barnet deprived?

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 East Barnet is 20%.

How much green space is available to residents of East Barnet?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In East Barnet, 31.8 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in East Barnet.

In general, do people commit a lot of crime in East Barnet?

For the city of East Barnet, crime rate is at 78. So for every 1000 people in the area, 78 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.

How educated are the people in East Barnet?

In the city of East Barnet, 39% 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 East Barnet is £55,600.

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

In East Barnet, what is the social grade score?

In the city of East Barnet, the social grade score of the area is 35%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of East Barnet.

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

How much do people in East Barnet 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 £55,600.

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 East Barnet this figure is 35%.

East Barnet 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, East Barnet 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 East Barnet.

Have the people of East Barnet grown in numbers?

Population growth in East Barnet is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In East Barnet, 30,175 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In East Barnet in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In East Barnet, this change has been 2%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 2%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in East Barnet?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 9% in East Barnet.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

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

Table showing the asking prices for houses for sale in East Barnet

Average asking price (1 bed) £330,417
Average asking price (2 bed) £451,822
Average asking price (3 bed) £747,417
Average asking price (4 bed) £978,471
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in East Barnet, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £5,750 will help them to have a more wholistic understanding.

When investors make offers for houses for sale in East Barnet, the average price asked by the homeowners works out to be £717,332.

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 East Barnet 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.

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

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 East Barnet 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 East Barnet.

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)
East Barnet 3.0% £1,788 122% 10.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

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 East Barnet.

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 (14) will be useful.

Are there more or fewer houses being built in East Barnet?

Whenever you are thinking about looking for houses for sale in East Barnet, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
East Barnet growth rate -1% 15% 22%

As the population of East Barnet grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

Advice from experts on properties for sale in East Barnet

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.

Thinking about 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 East Barnet:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

A house for sale appropriate to your needs

Many criteria impact the price of houses for sale in East Barnet.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

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