As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like West central London. 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 West central London 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 West central London will be revealed. Keep reading.
In general, what do houses for sale sell for in West central London?
In West central London, the average sale price of a house for sale is in fact £1,101,593. This is dependent on the 10 year population growth of West central London being 29%. Growing populations are more likely to inflate the prices of houses for sale in the city of West central London.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | no relevant data for this city |
| Aerage sold price (semi-detached) | no relevant data for this city |
| Aerage sold price (terraced) | £2,199,072 |
| Aerage sold price (flat) | £1,124,642 |
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 West central London.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £15,295 |
| Aerage sold price/sqft (new build) | £18,235 |
| Aerage sold price/sqft (old stock) | £12,905 |
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 £14,355. This means if you are just looking out the houses sold in West central London in general and didn’t take into consideration the type of build. For example, a new build.
What are the asking prices for the houses for sale in the city of West central London?
When speaking about the city of West central London, £1,220,676 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 West central London.
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.
Average price of houses for sale in West central London
| Average asking price (1 bed) | £713,251 |
| Average asking price (2 bed) | £1,366,256 |
| Average asking price (3 bed) | £2,271,123 |
| Average asking price (4 bed) | no relevant data for this city |
| 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 West central London 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 £13,410 should also give you an overview of what the asking price for houses for sale are in general.
What’s the rental yield in general for the city of West central London?
In West central London, how has the number of houses changed?
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 West central London at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| West central London growth rate | -23% | -18% | -14% |
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 West central London 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 West central London.
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 West central London. 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 West central London.
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, West central London.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| West central London | 3.7% | £3,578 | 89% | 3.5% |
| London | 3.96% | £2,001 | 129.93% | 12.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
You may also find it useful to compare the data above to the number of properties sold per month West central London experiences. This figure for house sales per month is 12. 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 kind of demographics does the city of West central London have?
Have the people of West central London grown in numbers?
Population growth in West central London 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 West central London, 34,816 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 West central London 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 West central London, this change has been 15%. 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 15%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in West central London?
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 29% in West central London.
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.
How much do people in West central London earn?
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 West central London, the average income is £50,550. 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 35% to decide on what the demographics are like in the area.
In the city of West central London, how much green space remains for residents?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about West central London, the city has 2.1 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in West central London.
West central London 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 West central London 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 West central London, 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.
What’s a social grade score and how does it relate to West central London?
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 West central London 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 West central London, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 35%.
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 West central London, what are the deprivation levels like?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of West central London is 28%.
How educated are the people in West central London?
In West central London, 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 West central London is £50,550.
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’s the crime rate in West central London?
For every one thousand people living in West central London, 908 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 908 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.
Get professional help on the houses for sale in West central London
Choose the right house for sale that suits your needs
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in West central London.
-
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
-
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
-
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
-
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
-
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
-
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
-
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
-
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
houses for sale in other cities in the UK
We have prepared a list of cities in Greater London, the same UK region of West central London that can help you evaluate the different houses for sale listed in the region:
- Redbridge in Greater London
- Hampton in Greater London
- Chelsea in Greater London
- Balham in Greater London
- Bow in Greater London
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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
Recent Comments