How much will you pay for a house for sale in Ilford?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much will you pay for a house for sale in Ilford?

Ilford 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 Ilford 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 Ilford.

What are the asking prices for the houses for sale in the city of Ilford?

When speaking about the city of Ilford, £612,733 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Ilford.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Table showing the asking prices for houses for sale in Ilford

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £428,279
Average asking price (3 bed) £600,487
Average asking price (4 bed) £835,294
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 (£0) for houses for sale with this table to get a good idea as to whether Ilford is the right area to buy a house in for you.

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

Are there new houses being built in Ilford to make it grow?

The growth of an area like Ilford can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Ilford growth rate -2% 9% 10%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Ilford if you want to find out the exact reasons for the housing change.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Ilford, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as London, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Ilford 3.5% £1,710 no relevant data for this city 16.7%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

Assuming that in the future you want to re-sell the house you will eventually purchased in Ilford you might be interested in the number of sales per month (21) that happen in the local housing market. Comparing this figure for Ilford with the above table gives you a good understanding of the profitability of the area.

What is the final sale price of a house in Ilford?

In Ilford, the average sale price of a house for sale is in fact £542,992. This is dependent on the 10 year population growth of Ilford being 10%. Growing populations are more likely to inflate the prices of houses for sale in the city of Ilford.

Housing category Total final sale price
Aerage sold price (detached) £723,225
Aerage sold price (semi-detached) £598,125
Aerage sold price (terraced) £542,302
Aerage sold price (flat) £276,342

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 Ilford.

Housing category Sale price per square foot
Aerage sold price/sqft £4,877
Aerage sold price/sqft (new build) £3,660
Aerage sold price/sqft (old stock) £4,847

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 £4,877. This means if you are just looking out the houses sold in Ilford in general and didn’t take into consideration the type of build. For example, a new build.

What are the people like in Ilford?

The city of Ilford, 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 Ilford 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 Ilford. So, taking a good look at the data is essential to understand the area you are considering to buy in.

How much do people in Ilford earn?

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 (31%). 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 Ilford, this works out to be £53,033. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Do the people of Ilford get to enjoy green space?

Whether you view green space in Ilford 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 Ilford, the number of acres of green space for every 1000 people currently is 21.3 which can be measured against the UK average of 1.7.

In Ilford, how educated are people in general?

The number of people as a percentage who have been through university and gained a degree is 35%. The ability to buy a home is greatly influenced by the number of people who have degrees. £53,033 is the amount people in Ilford 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 Ilford, 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 does the population of Ilford look like?

Population growth in Ilford 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 Ilford, 39,022 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 Ilford 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 Ilford, this change has been 3%. 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 3%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Ilford?

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 10% in Ilford.

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.

Are the deprivation levels of the UK any different to Ilford?

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 Ilford, in particular, the deprivation levels are 23%.

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

What’s a social grade score and how does it relate to Ilford?

In the city of Ilford, the social grade score of the area is 31%. 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 Ilford.

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 general, do people commit a lot of crime in Ilford?

For every one thousand people living in Ilford, 84 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 84 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.