As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Hammersmith. 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 Hammersmith 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 Hammersmith will be revealed. Keep reading.
What are the asking prices for the houses for sale in the city of Hammersmith?
Average asking prices for houses for sale in Hammersmith
|Average asking price (1 bed)||£487,652|
|Average asking price (2 bed)||£770,971|
|Average asking price (3 bed)||£1,111,855|
|Average asking price (4 bed)||£1,873,353|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Hammersmith is £9,675. This should show you the general prices overall and for individual types of houses too.
When investors make offers for houses for sale in Hammersmith, the average price asked by the homeowners works out to be £821,191.
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 Hammersmith 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.
In Hammersmith, what do houses for sale tend to sell for?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Hammersmith. In Hammersmith, this sale price works out to be £789,583. As an example, a factor like population growth over the last 10 years which works out to be 2% in Hammersmith 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)||£1,616,789|
|Average sold price (terraced)||£1,560,316|
|Average sold price (flat)||£659,613|
Above, the exact type of house is also shown to vary in price in a table in Hammersmith. 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||£9,305|
|Average sold price/sqft (new build)||£13,595|
|Average sold price/sqft (old stock)||£9,160|
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 Hammersmith which is £9,490. 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.
Why you should consider the average rental yield when searching for houses for sale in Hammersmith
Are there more or fewer houses being built in Hammersmith?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Hammersmith at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Hammersmith growth rate||2%||3%||-2%|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Hammersmith gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Hammersmith.
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 Hammersmith. 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 Hammersmith.
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, Hammersmith.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Hammersmith experiences. This figure for house sales per month is 49. 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.
What are the people like in Hammersmith?
In Hammersmith, what is the crime rate?
For every one thousand people living in Hammersmith, 142 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 142 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
What salary does the community in Hammersmith take home?
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 Hammersmith, the average income is £55,450. 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 41% to decide on what the demographics are like in the area.
Is the education level of Hammersmith important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 54%. The ability to buy a home is greatly influenced by the number of people who have degrees. £55,450 is the amount people in Hammersmith 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 Hammersmith, 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.
What is a social grade score and how does this relate to Hammersmith?
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 Hammersmith 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 Hammersmith, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 41%.
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|
In the city of Hammersmith, is there a lot of green space?
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 Hammersmith, 2.4 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 Hammersmith.
Are the deprivation levels of the UK any different to Hammersmith?
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 Hammersmith is 23% 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.
In the city of Hammersmith, has the population grown or shrunk?
In total, the number of people in Hammersmith is 72,740. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Hammersmith, depending on where exactly you are.
How has Hammersmith changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Hammersmith has changed by 1%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 1% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Hammersmith?
2% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Hammersmith have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Hammersmith 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, Hammersmith 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 Hammersmith.