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A guide on houses for sale in Gospel Oak

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ A guide on houses for sale in Gospel Oak

Gospel Oak might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of London.
Before looking for a house for sale in the city of Gospel Oak we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Gospel Oak.

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

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Gospel Oak. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Gospel Oak.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (London), a regional level (Greater London) and finally on the level of the city talked about in this article, Gospel Oak.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Gospel Oak 3.5% £3,382 113% 3.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

You may also find it useful to compare the data above to the number of properties sold per month Gospel Oak experiences. This figure for house sales per month is 30. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Are there more or fewer houses being built in Gospel Oak?

Whenever you are thinking about looking for houses for sale in Gospel Oak, 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
Gospel Oak growth rate 17% 15% 14%

As the population of Gospel Oak 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.

What are the demographics like in the city of Gospel Oak?

What is the city of Gospel Oak’s social grade score?

In the city of Gospel Oak, the social grade score of the area is 52%. 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 Gospel Oak.

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

The city of Gospel Oak, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Gospel Oak and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Gospel Oak. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What is the education level like in Gospel Oak?

The number of people as a percentage who have been through university and gained a degree is 60%. The ability to buy a home is greatly influenced by the number of people who have degrees. £62,200 is the amount people in Gospel Oak 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 Gospel Oak, 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.

Do the people of Gospel Oak get to enjoy green space?

In the city of Gospel Oak, there are 16.7 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 Gospel Oak is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What’s crime like in Gospel Oak?

For the city of Gospel Oak, crime rate is at 110. So for every 1000 people in the area, 110 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 city of Gospel Oak deprived?

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 20% for Gospel Oak should give you a nice idea of the deprivation in the area.

How much do people in Gospel Oak earn?

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 Gospel Oak, the average income is £62,200. 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 52% to decide on what the demographics are like in the area.

What does the population of Gospel Oak look like?

Population growth in Gospel Oak 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 Gospel Oak, 51,741 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 Gospel Oak 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 Gospel Oak, this change has been 14%. 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 14%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Gospel Oak?

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 30% in Gospel Oak.

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 general, for the city of Gospel Oak, what are the final purchase prices for the houses for sale?

In Gospel Oak, the average sale price of a house for sale is in fact £1,092,755. This is dependent on the 10 year population growth of Gospel Oak being 30%. Growing populations are more likely to inflate the prices of houses for sale in the city of Gospel Oak.

Housing category Total final sale price
Aerage sold price (detached) £4,281,038
Aerage sold price (semi-detached) £3,678,523
Aerage sold price (terraced) £2,147,014
Aerage sold price (flat) £876,096

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Gospel Oak.

Housing category Sale price per square foot
Aerage sold price/sqft £10,680
Aerage sold price/sqft (new build) £10,860
Aerage sold price/sqft (old stock) £10,770

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £10,750. This means if you are just looking out the houses sold in Gospel Oak in general and didn’t take into consideration the type of build. For example, a new build.

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

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 Gospel Oak 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 £1,155,506.

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 Gospel Oak.

Average price of houses for sale in Gospel Oak

Average asking price (1 bed) £552,012
Average asking price (2 bed) £874,712
Average asking price (3 bed) £1,540,894
Average asking price (4 bed) £2,529,500
Average asking price (5 bed) £4,214,215

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 £10,820. 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 Gospel Oak has a lack of supply of housing in certain categories.

Get professional help on the houses for sale in Gospel Oak

A house for sale appropriate to your needs

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

House for sale in the same UK region

Examine this short list of cities belonging to Greater London, the same region where Gospel Oak is located.

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

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