As a landlord, whenever you are looking at houses for sale in Essex, you could find varying prices throughout an area like West Thurrock. 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 Thurrock 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 Thurrock will be revealed. Keep reading.
Are there any important statistics about the population of West Thurrock?
What is the city of West Thurrock’s social grade score?
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 Thurrock 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 Thurrock, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 11%.
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|
How deprived is the population of West Thurrock?
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 West Thurrock, in particular, the deprivation levels are 22%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
How much green space is available to residents of West Thurrock?
In the city of West Thurrock, there are 5.1 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where West Thurrock is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Is the crime rate bad in the city of West Thurrock?
For every one thousand people living in West Thurrock, 486 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 486 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.
In West Thurrock, how educated are people in general?
The number of people as a percentage who have been through university and gained a degree is 25%. The ability to buy a home is greatly influenced by the number of people who have degrees. £47,700 is the amount people in West Thurrock 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 West Thurrock, 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.
West Thurrock within Essex is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, West Thurrock will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Greater London). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in West Thurrock.
In West Thurrock, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of West Thurrock if 4,982 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 West Thurrock such as rental yield or house appreciation.
How has the population size of West Thurrock adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of West Thurrock by 6%. 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 6% 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 West Thurrock?
In the last decade, the population of West Thurrock has been adjusted by 12%. 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.
How much do people in West Thurrock earn?
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 West Thurrock. Compare the area’s average household income of £47,700 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 11% for more conclusive data on the affluence of the area.
What is the final sale price of a house in West Thurrock?
For the city of West Thurrock, the average price a house sells for is £277,411. This value usually depends on the exact location of the house within West Thurrock as well as other factors like the population growth in West Thurrock which is 12% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£422,663|
|Aerage sold price (semi-detached)||£329,218|
|Aerage sold price (terraced)||£299,023|
|Aerage sold price (flat)||£193,826|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of West Thurrock.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,610|
|Aerage sold price/sqft (new build)||£3,780|
|Aerage sold price/sqft (old stock)||£3,280|
Generalising the bottom table, the average value per square foot of a house for sale is £3,610. This value averages all of the types of houses for sale in West Thurrock. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of West Thurrock.
How are rental yields of the houses for sale different to the rest of the UK in West Thurrock?
In West Thurrock, how has the number of houses changed?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for West Thurrock that shows the growth in recent years.
|1 year||3 years||5 years|
|West Thurrock growth rate||no relevant data for this city||7%||29%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in West Thurrock is important.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in West Thurrock this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (Greater London) alongside Essex then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout West Thurrock.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|West Thurrock||no relevant data for this city||no relevant data for this city||no relevant data for this city||19.0%|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in West Thurrock.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (5) will be useful.
Asking price in West Thurrock for a house for sale
When speaking about the city of West Thurrock, £284,651 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 Thurrock.
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 asking prices for houses for sale in West Thurrock
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£280,577|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in West Thurrock, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.