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

Watford 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 Hertfordshire.
Before looking for a house for sale in the city of Watford 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 Watford.

Are there any important statistics about the population of Watford?

Watford within Hertfordshire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Watford 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 Watford.

How much do people in Watford earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £49,583.33.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Watford this figure is 28%.

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

Interestingly, the percentage of people who have a degree in the city of Watford is 33%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Watford is £49,583.33.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

In general, do people commit a lot of crime in Watford?

Within Watford, the number of people committing crimes is 11367% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 11367% figure carefully.

Do the people of Watford get to enjoy green space?

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 Watford, the city has 24 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 Watford.

What does the population of Watford look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Watford if 142263 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 Watford such as rental yield or house appreciation.

How has the population size of Watford adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Watford by 1%. 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 1% 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 Watford?

In the last decade, the population of Watford has been adjusted by 8%. 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.

In Watford, what is the social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Watford in grades A or B which are the highest skilled roles in the country is 28%.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £49,583.33 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 28%.

Are the people of Watford deprived?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Watford is £0 and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

A house for sale appropriate to your needs

What parameters impact the final price of a house for sale in Watford?
Here below is our list with the most important ones:

• House for sale affordability – check out the (see house affordability guide)

  on the UK gov website to know more

• House Location – the actual location of a house for sale drastically changes the final price of a property
• Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
• Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
• Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
• Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
• Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
• Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
• Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

Thinking of a different city and perhaps a different location?

You can consult our list below that goes over a list of cities not necessarily in Greater London, allowing you to find similar places to Watford:

• croydon in Greater London
• ball-haye-green in Greater London
• manchester in Greater London
• camelford in Greater London
• castell-y-bwch in Greater London

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

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

As well as looking at the asking price for house for sale in Watford, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Watford.

Houses for sale, are sold on average in Watford, after the influence of these factors, at £420,721 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 8% over the last 10 years.

This table above shows the average sale price for each variation of houses for sale in Watford.

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Watford is £5,003.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Advice from experts on properties for sale in Watford

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

What’s the rental yield in general for the city of Watford?

What is the growth in the housing market of Watford?

Before committing to Watford to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Watford is building housing to find your answer.

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Watford, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area and how much you can charge for rent in your ast (assured tenancy shorthold).

In Watford, what is the asking price in general for a house for sale?

Average prices for the houses for sale in Watford

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 £2,835. 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 Watford has a lack of supply of housing in certain categories.

On average, in Watford, the asking price for a house for sale in the area is £467,093.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Watford. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.