What is it like buying a house in Hornsey?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ What is it like buying a house in Hornsey?

Hornsey can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Hornsey.

On top of this, keep reading for detailed information on the demographics of Hornsey in London. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

What are the people like in Hornsey?

In the city of Hornsey, 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 Hornsey, 2.2 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 Hornsey.

Located in London is the city of Hornsey, 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 Hornsey 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 Hornsey 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.

What’s the crime rate in Hornsey?

The crime rate of Hornsey must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 151, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (151) is both useful and is recommended to be compared to the average.

In Hornsey, what is the social grade score?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Hornsey, the percentage of people in the two highest categories, A and B is 30%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £50,400. This income will generally get bigger as the percentage of people in the A and B categories go up too (30%).

In Hornsey, what are the deprivation levels like?

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 Hornsey, in particular, the deprivation levels are 31%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

In the city of Hornsey, has the population grown or shrunk?

In total, the number of people in Hornsey is 33,784. 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 Hornsey, depending on where exactly you are.

How has Hornsey 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 Hornsey has changed by 9%. 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 9% 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 Hornsey?

24% 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 Hornsey 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.

For the city of Hornsey, what is the education level?

In Hornsey, the proportion of people who have a degree is 46%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Hornsey is £50,400.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

What salary does the community in Hornsey take home?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (30%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Hornsey, this works out to be £50,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

On average, what is the figure for the asking price of a house for sale in Hornsey?

When investors make offers for houses for sale in Hornsey, the average price asked by the homeowners works out to be £554,317.

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 Hornsey 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.

Average price of houses for sale in Hornsey

Average asking price (1 bed) £393,647
Average asking price (2 bed) £531,952
Average asking price (3 bed) £738,483
Average asking price (4 bed) £1,186,425
Average asking price (5 bed) no relevant data for this city

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£7,330) for houses for sale with this table to get a good idea as to whether Hornsey is the right area to buy a house in for you.

In Hornsey, what do houses for sale tend to sell for?

In Hornsey, houses for sale are sold at an average of £579,132. 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 Hornsey. 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) no relevant data for this city
Aerage sold price (semi-detached) £1,372,285
Aerage sold price (terraced) £1,087,305
Aerage sold price (flat) £478,535

As you can see above, for Hornsey, 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 24% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £7,390
Aerage sold price/sqft (new build) £10,010
Aerage sold price/sqft (old stock) £7,430

Looking at the second table about Hornsey, 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 Hornsey is £7,360.

Why you should consider the average rental yield when searching for houses for sale in Hornsey

What is the growth in the housing market of Hornsey?

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 Hornsey at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Hornsey growth rate no relevant data for this city 15% 10%

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 Hornsey 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 Hornsey.

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.

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 in to all the details of Hornsey.

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)
Hornsey 4.6% £2,128 140% 12.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

Also, you can compare other data to the table above such as the number of houses sold per month in Hornsey which is 16 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 Hornsey is to invest in. Both in terms of rental yield and capital appreciation.

Professional advice for houses for sale in Hornsey

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.

Invest in a house for sale that meets your demands

Many criteria impact the price of houses for sale in Hornsey.
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.

Are you considering other cities with houses for sale?

Below are a list of towns with a similar location to Hornsey.
Reading these analysis will help you evaluate the different houses for sale currently listed in Greater London:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.