22 properties are sold from Rightmove and other listing platforms every single month in the UK. In this article we plan to go over how to buy one of these properties and also how to rent from the platform of Rightmove too.
Greenwich contains a lot of information so read carefully and start to consider how to make sure you are involved in a beneficial property deal, whether you are buying or renting.
How much outdoor space is there in Greenwich?
Green space is something that is recommended to everyone to have but then again, it is often compromised in a lot of locations. For instance, in cities, the amount of green space is often well below the recommended figure of 6 acres of green space for every thousand people. In Greenwich, this is 13.1. Compare this figure of 6 which is recommended to have and the data for Greenwich to tell how much green space is around.
On Rightmove and in Greenwich, how many HMOs are licenced?
In Greenwich, of the total number of licensed HMOs (nan) that are legally registered as a House of Multiple Occupancy, the average asking rent is no relevant data for this city. If you are trying to find a cheap way to rent but also don’t want to share the entire property with other renters, you also have the option to rent a room with a bathroom attached. These are known as ensuites and the cost to rent one in Greenwich is currently £1,042, usually slightly above what is asked to rent a normal room without an ensuite in a HMO.
Properties for sale in Greenwich on Rightmove
It is worth noting that the more homes sell on a monthly basis, the more buyers and competition there tend to be. This figure for Greenwich is talked about below and in the following headings.
From Greenwich’s Rightmove data, what are the number of planning permission applications?
In the UK, planning applications result in a success rate of 82% most of the time. In Greenwich, people plan to make modifications to their properties and apply for planning permission with a planning success rate of nan.
This is interesting data for investors in particular. An above average success indicates renovations are tried and tested and likely an investment from landlords. This is a great opportunity for investors to model what works in the area and do the same. On the other hand, a lower approval indicates there are more ambitious proposals in the area and of the 11 monthly planning applications in Greenwich, property here is more difficult to conduct improvements on.
If you don’t want to deal with planning permission, consider buying a property as a leaseholder which means you don’t own the land and any planning permission is done by the freeholder who owns the land.
If you do this, you will have to look at when a leasehold expires as well as other disadvantages though. However, there are pros and cons of being a leaseholder or a freeholder. For instance, as a freeholder, you may have to evict a leaseholder in a process known as a forfeiture of lease. So, pay attention to the advantages and disadvantages and what path you actually want to go down.
What is a commons purchase price for property on Rightmove?
The average sold price of properties in Greenwich, UK, available on Rightmove is £420,967. See the below table to work out what the sold price is based on detached housing, semi-detached housing, terraced housing and flats.
|Category of property||Average price|
Property investment opportunities presented on Rightmove in Greenwich
In Greenwich, the average asking rent in the area is £1,804 and there is a table below that goes over the asking rent for every type of property there is. Also, in Greenwich, the average yield of properties is £0. A figure that can be used as a metric to gauge how profitable an investment is and compared to the national average of 4.4%.
See the table for a more extensive breakdown of how average asking rent is distributed.
|Number of bedrooms||Average asking rent|
|5||no relevant data for this city|
A closer look at rental yield on Rightmove in Greenwich
Rental yield is simply the annual amount of rent that is made from a property after expenses calculated as a percentage. As of 2023, the yield of Greenwich is £0.
It is a wise idea to compare this figure to the rest of the UK. Areas with extremely high yields can get as high as 10% but on the low end where property is very expensive such as in Chelsea, London, yields can be as low as 1%. So use the figure of £0 for comparison.
Usually, when looking to invest in Greenwich, landlords look for a mix of appreciation and high yields but the gains from capital appreciation aren’t realised until the property is sold.
Exploring Greenwich’s real estate investment potential on Rightmove
When contemplating an investment property, you can look at the figures of turnover, the number of sales there are every month in the area, and the population change over ten years. The below table is related to the city rather than the wider area of Greater London. However, you can find data for the wider region here.
|Data for Greenwich||Average for the UK|
|Property sales per month||22||576,000|
|Population growth over 10 years||16%||6.5%|
It is worth noting that the figures above will be useful if you compare them to the wider region of the UK of Greater London.
Properties to Rent in Greenwich on Rightmove
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
Greenwich’s demographics and income insights based on Rightmove data
If you are renting or looking to rent, it is good practice to recognise if in the area you are searching, the people have higher incomes. The average household income in this area is £54,216.99 and this figure on a nationwide level has an average of £34,000. It is important to understand this because you want to be in a location that suits your taste and budget.
Greenwich’s demographics also reveal a population of 129100 individuals and a percentage of people with degrees falling at 38%. Keep this in mind too and compare it to the average percentage of degrees in the UK which is 22.6%. You don’t necessarily want to be around people you aren’t like or have nothing in common with.
In Greenwich, here’s what Rightmove data says about social rent and affordable housing
It is well researched and understood that humans like to associate themself with similar people and this is why it’s important to find an area where people are earning a similar amount to you. The percentage of people who are renting from the government is 18% in Greenwich. And they have an average household income of £54,216.99. If you think these numbers are similar to your financial situation or reflect an area you want to live in, then this is a good sign.
Frequently Asked Questions by Rightmove users
What is the average property price in Greenwich on Rightmove?
The average property price for the UK currently stands at £286,000. In the local area of Greenwich, the average price of a house for sale in the area is £420,967
In the process of property hunting on Rightmove in Greenwich, do hidden costs come into play?
Costs that landlords should look out for include the rate of stamp duty, costs of renovation and also what the landlord deductible expenses are in a property based on if the property is a limited company or listed in your personal name.
Based on Rightmove’s information, what’s the level of criminal activity in the Greenwich area?
The current crime rate in Greenwich is such that 15967% incidents are recorded for every 1000 residents.
What’s the frequency of property sales per month in Greenwich as reported by listing portals?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, consider that 22 properties are being sold every month.
What’s the average cost of a three-bedroom property in Greenwich as per Rightmove data?
The average price for a property that has three bedrooms is £2,230. This can be compared to average property prices