Whenever looking for a house for sale in the UK or in East Central London, 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 Central London.
In this article, we will be looking at the city of East Central London in detail so you know how to navigate the area and have a better understanding on where to invest.
In general, what do houses for sale sell for in East Central London?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in East Central London. In East Central London, this sale price works out to be £802,396. As an example, a factor like population growth over the last 10 years which works out to be 27% in East Central London and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||no relevant data for this city|
|Average sold price (semi-detached)||no relevant data for this city|
|Average sold price (terraced)||£1,622,732|
|Average sold price (flat)||£801,650|
Above, the exact type of house is also shown to vary in price in a table in East Central London. 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||£11,750|
|Average sold price/sqft (new build)||£13,820|
|Average sold price/sqft (old stock)||£9,970|
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 East Central London which is £11,390. 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.
Are there any important statistics about the population of East Central London?
In East Central London, 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 26% for East Central London should give you a nice idea of the deprivation in the area.
Are the people in East Central London earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In East Central London, the average income is £52,500. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 38% to decide on what the demographics are like in the area.
What is a social grade score and how does this relate to East Central London?
In the city of East Central London and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of East Central London has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 38%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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|
In the city of East Central London, how much green space remains for residents?
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 Central London, 1.1 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 Central London.
Is the education level of East Central London important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 51%. The ability to buy a home is greatly influenced by the number of people who have degrees. £52,500 is the amount people in East Central London are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in East Central London, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
Located in London is the city of East Central London, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of East Central London has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of East Central London which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
In the city of East Central London, 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 East Central London if 27,051 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 East Central London such as rental yield or house appreciation.
How has the population size of East Central London adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of East Central London by 16%. 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 16% 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 East Central London?
In the last decade, the population of East Central London has been adjusted by 27%. 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.
Is the crime rate bad in the city of East Central London?
Within East Central London, the number of people committing crimes is 232 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 232 figure carefully.
Always consider average rental yield when searching for houses for sale in East Central London
What is the growth in the housing market of East Central London?
Before committing to East Central London 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|
|East Central London growth rate||-11%||-15%||-15%|
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 East Central London is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares East Central London to London and the broader suburb of the UK; Greater London.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|East Central London||3.9%||£2,809||138%||5.0%|
Let’s assume you want to sell the house you’re looking to buy in East Central London for profit in the future, in this case, looking at the data for the number of houses sold per month in East Central London would give you an idea of whether the area is actively getting new investors. This figure is 16.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in East Central London. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What are the asking prices for the houses for sale in the city of East Central London?
On average, in East Central London, the asking price for a house for sale in the area is £863,948.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in East Central London. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
In the city of East Central London, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£649,108|
|Average asking price (2 bed)||£982,944|
|Average asking price (3 bed)||£1,373,043|
|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 £11,020. 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 East Central London has a lack of supply of housing in certain categories.
Invest in houses for sale in East Central London with the right professional advice
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
House for sale in the same UK region
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 Central London:
- Camden-Town in Greater London
- Bulphan in Greater London
- Avery-Hill in Greater London
- Forest-Hill in Greater London
- Tottenham in Greater London
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in East Central London
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.