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Whenever looking for a house for sale in the UK or in Hornchurch, 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 Hornchurch.
In this article, we will be looking at the city of Hornchurch 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 Hornchurch?
In Hornchurch, houses for sale are sold at an average of £384,172. 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 Hornchurch. 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) | £482,201 |
| Aerage sold price (semi-detached) | £397,843 |
| Aerage sold price (terraced) | £359,530 |
| Aerage sold price (flat) | £235,442 |
As you can see above, for Hornchurch, 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 10% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £4,140 |
| Aerage sold price/sqft (new build) | £4,315 |
| Aerage sold price/sqft (old stock) | £4,055 |
Looking at the second table about Hornchurch, 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 Hornchurch is £4,140.
Get professional help on the houses for sale in Hornchurch
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.
On average, what is the figure for the asking price of a house for sale in Hornchurch?
Average price of houses for sale in Hornchurch
| Average asking price (1 bed) | £255,417 |
| Average asking price (2 bed) | £350,036 |
| Average asking price (3 bed) | £471,681 |
| Average asking price (4 bed) | £570,795 |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Hornchurch and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
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 Hornchurch 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 £462,791.
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 Hornchurch.
Are you considering other cities with houses for sale?
If you are looking for similar places to buy a house that are just like Hornchurch, examine this short list of cities below from outside of the region of Greater London for some inspiration.
- furzedown in Greater London
- buxworth in Greater London
- gaywood in Greater London
- birley-carr in Greater London
- benington in Greater London
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
Choose the right house for sale that suits your needs
When browsing houses for sale in Hornchurch you should think about lots of different criteria:
- House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
- Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
- House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
- Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
- energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
- Internet speed in the area of the house for sale – it is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale. Especially if you are renting the property as this will impact your business costs. Whether that be in an excluded tenancy agreement or a more common, assured shorthold tenancy.
- Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
- Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
- 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.
Are there any important statistics about the population of Hornchurch?
What is the social grade score of Hornchurch?
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 Hornchurch 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 Hornchurch, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 16%.
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 |
What is the population of Hornchurch?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Hornchurch if 63019 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 Hornchurch such as rental yield or house appreciation.
How has the population size of Hornchurch adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Hornchurch by 5%. 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 5% 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 Hornchurch?
In the last decade, the population of Hornchurch has been adjusted by 10%. 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.
What’s crime like in Hornchurch?
In Hornchurch, for every 1000 people, there is currently a crime rate of 8250%. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (8250% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In the city of Hornchurch, how much green space remains for residents?
Whether you view green space in Hornchurch as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Hornchurch, the number of acres of green space for every 1000 people currently is 33 which can be measured against the UK average of 1.7.
What salary does the community in Hornchurch take home?
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 £47,650.00.
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 Hornchurch this figure is 16%.
Hornchurch in the county of London is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Hornchurch is located in; Greater London.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Hornchurch, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
How educated are the people in Hornchurch?
The number of people as a percentage who have been through university and gained a degree is 16%. The ability to buy a home is greatly influenced by the number of people who have degrees. £47,650.00 is the amount people in Hornchurch 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 Hornchurch, 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.
Are the people of Hornchurch deprived?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Hornchurch, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Always consider average rental yield when searching for houses for sale in Hornchurch
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Hornchurch.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (London) as well as the broader region; Greater London.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Hornchurch | £0 | £1,529 | £1 | £0 |
| London | 3.96% | £2,001.05 | 129.93% | 12.05% |
| Greater London | 0.04 | 1,898.58 | £1 | 13.30% |
Also, you can compare other data to the table above such as the number of houses sold per month in Hornchurch which is 22 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Hornchurch is to invest in. Both in terms of rental yield and capital appreciation.
Is the housing market in Hornchurch growing?
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 Hornchurch at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Hornchurch growth rate | 9% | 20% | 26% |
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 Hornchurch 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 Hornchurch.
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