North Woolwich 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 North Woolwich 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 North Woolwich.
On average, what is the figure for the asking price of a house for sale in North Woolwich?
The average asking price for the houses for sale in the city of North Woolwich
| Average asking price (1 bed) | £375,493 |
| Average asking price (2 bed) | £475,699 |
| Average asking price (3 bed) | £592,560 |
| Average asking price (4 bed) | no relevant data for this city |
| Average asking price (5 bed) | no relevant data for this city |
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 £6,320. 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 North Woolwich has a lack of supply of housing in certain categories.
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 North Woolwich 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 £449,627.
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 North Woolwich.
What’s the rental yield in general for the city of North Woolwich?
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 North Woolwich, 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) | |
|---|---|---|---|---|
| North Woolwich | 5.5% | £2,050 | 140% | 6.0% |
| 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 North Woolwich you might be interested in the number of sales per month (23) that happen in the local housing market. Comparing this figure for North Woolwich with the above table gives you a good understanding of the profitability of the area.
What is the growth in the housing market of North Woolwich?
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 North Woolwich at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| North Woolwich growth rate | -15% | -3% | no relevant data for this city |
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 North Woolwich 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 North Woolwich.
Are there any important statistics about the population of North Woolwich?
How much green space is available to residents of North Woolwich?
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 North Woolwich, 3.3 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 North Woolwich.
What salary does the community in North Woolwich take home?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in North Woolwich. Compare the area’s average household income of £49,100 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 25% for more conclusive data on the affluence of the area.
Is the crime rate bad in the city of North Woolwich?
In North Woolwich, for every 1000 people, there is currently a crime rate of 152. 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 (152 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 North Woolwich, how educated are people in general?
In North Woolwich, the proportion of people who have a degree is 30%. 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 North Woolwich is £49,100.
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.
Are the people of North Woolwich 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 36% for North Woolwich should give you a nice idea of the deprivation in the area.
The city of North Woolwich, 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 North Woolwich 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 North Woolwich. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What does the population of North Woolwich look like?
In total, the number of people in North Woolwich is 44,874. 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 North Woolwich, depending on where exactly you are.
How has North Woolwich 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 North Woolwich has changed by 6%. 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 6% 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 North Woolwich?
19% 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 North Woolwich 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.
What is the social grade score of North Woolwich?
In the city of North Woolwich, the social grade score of the area is 25%. 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 North Woolwich.
| 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, what do houses for sale sell for in North Woolwich?
In North Woolwich, houses for sale are sold at an average of £435,551. 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 North Woolwich. 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) | £419,118 |
| Aerage sold price (terraced) | £420,599 |
| Aerage sold price (flat) | £425,038 |
As you can see above, for North Woolwich, 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 19% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £5,610 |
| Aerage sold price/sqft (new build) | £6,250 |
| Aerage sold price/sqft (old stock) | £5,300 |
Looking at the second table about North Woolwich, 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 North Woolwich is £5,960.
Advice from experts on properties for sale in North Woolwich
Thinking about other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in Greater London, the same UK region as North Woolwich:
- Maida-Vale in Greater London
- Chalk in Greater London
- East-Bedfont in Greater London
- Green-Street-Green in Greater London
- West-Thurrock in Greater London
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Choose the right house for sale that suits your needs
When browsing houses for sale in North Woolwich you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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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.
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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.
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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
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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.
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Internet speed in the area of the house for sale – 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
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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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.
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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.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
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