Property prices in EN7 – an analysis

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Cozee has made a tremendous effort to provide you with the evolution of house prices, flat prices and other types of properties in EN7. In this article we will first present to you how prices have changed over the years and give an overview of what impacts the properties prices in EN7.

How are average prices of different property types calculated in EN7?

In order to calculate the average price for a house, a flat or a maisonette in EN7 we have analysed the Land Registry dataset over the past 12 years. To come up with this average number we calculated the sum of all the prices paid in the area per property type and divided this amount by the number of properties of this specific type.
Let’s take a look at the average price for a Flat in 2021. In our area there were 15 sold for a total amount of £3,597,000. So when we divide £3,597,000 by 15 we land on an average price of £239,800 for houses in the area.

How have property prices changed in EN7?

This article will allow you to check the rental and sold prices of properties in EN7.

Looking to buy or sell your property in EN7?

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Note for the readers. The data we present in the graph is an average price based on the price paid data provided by the Land Registry. At no point should you consider this as valuation for your property in EN7 but can help you understand how the property market evolves in London and especially your area.
For a reliable valuation of your property we recommend that you reach out to our team.

Why is the average price important when buying or selling your property in EN7?

The average price serves as a useful tool in determining the appropriate purchase price or providing an estimate for potential property sales. It offers a swift overview of the local property market in your area. However, it's crucial to understand that this figure doesn't necessarily represent the exact selling price, and it's not advisable to make an offer based solely on the average. Specific property details must be taken into account, considering the unique features of the property you are interested in. Further details regarding the various factors influencing the price are provided below for a more comprehensive understanding.
Prior to delving into property endeavours, Cozee emphasises the importance of exploring the median price as an invaluable indicator. By revealing the price at which 50% of the properties in EN7 were sold for more and 50% for less, the median price adds depth to the understanding of house prices. Distinguished from the average, this metric provides a clearer picture of the distribution of property values in the local market. It serves as a strategic tool for buyers and sellers, aiding in well-informed decisions regarding property transactions and contributing to a more transparent and dynamic property market.
In the property market during 2019, observe the exchange of 18 Flat units. The median price, marked at £239,000, signifies a pivotal point where 50% of these Flat transactions surpassed £239,000, and the remaining 50% fell below. This detailed breakdown of £239,000 illuminates the diverse spectrum of house prices in EN7 during 2019, providing essential insights for those considering property purchases or sales. For a comprehensive understanding of your property's worth, Cozee's expert team is at your service, boasting unparalleled knowledge and connectivity to the contemporary market trends in EN7.

Looking to buy or sell your property in EN7?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

What are the factors influencing the property price in EN7?

When it comes to assessing the price of a property we tend to look at 7 main factors. These factors can be economic as well as demographic factors.

Location

We are all aware that the location of a property plays a crucial role in driving up or down the price of a property. Indeed the desirability of the neighbourhood and overall safety of EN7 is key to understanding the price. That is why, when buying or selling a property it is important to have in mind the crime rate of the area.
We recommend that you have a look at Police.uk In EN7, the crime rate is around 52 per thousand people. This rate can be considered as mediumand will have a small impact on the price of a property in EN7. Note: it is important to note that there is not a good correlation between a higher crime rate and the price of a property. If this can have an impact, this is not the only factor. A quick example is in central London. The property price are higher than the rest of the UK but property prices are still high.
Then comes the proximity with different amenities such as schools, hospitals, shopping centres and public transportations. These elements have a significant impact on the price of the property you might want to buy or sell. To help you get an idea of how this could affect the price of a property in EN7 we have summarised these factors in the table below:

Type of amenities Number in EN7
NHS Trusts (hospitals) 0
Practitioners 17
Pharmacies 3
Schools 9
Shopping centres (within a 5mi radius) 3
Public transports (number of train or underground stations) 0 (for more details we recommend that you have a look at tlf

Economic conditions in EN7

In 2023, we are now all aware that the overall economic environment has a consequent impact on the property price. The Office for National Statistics provides a macroeconomic view of these factors.
The employment rate, the income level in EN7 and the overall interest rates will either have a positive or negative impact on the prices you will be able to list your property for or the price you might end up paying. Please find below these indicators provided by the Bank of England and the ONS

Interest rates from the Bank of England over the period 2019-2024 The map below shows you in a very few clicks the income level of around EN7. If you are looking to sell your property this indicator might be very helpful to gauge how much you could ask for. The higher the income is in a certain area, the higher the affordability of the households will be. Finally, on top of the income level, you can also have a look at the employment rate within the neighbourhood of the property you want to buy or sell. The map below shows the percentage of usual residents aged 16 years and over who were economically active and in employment in local authorities, 2011 and 2021. As for the income level, an area with a higher employment rate will most likely fetch higher property prices.

Supply and demand in EN7 and how to assess it

This is a basic economic principle but whenever the supply is low and the demand high, asking prices are growing accordingly and vice versa. This is true in your area. This means that if you are selling a property in a highly demanded area you might be able to benefit from an increase in price due to this principle. To assess the supply and demand of properties for sale in EN7, we recommend you to have a look at the number of listings on Rightmove, Zoopla and other listing platforms

Looking to buy or sell your property in EN7?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

Check how many properties are currently listed and check for how long they have been listed for. This will give you an idea of how long it takes to sell a flat, house or maisonette in your area.

Property size, features and overall state

When it comes to estimate the price of a property in EN7, estate agents are usually estimating the price per square foot. This means that the bigger the property is, the higher the price will reach. NOTE: this price per square foot in EN7 can be impacted by the overall state of the property. A badly maintained property will see a lower price per square foot.
At Cozee we have simplified this for you and we want to provide you with the average price per square foot in your area depending on the property type.

Property Type 2020 2021 2022
Flat £5,450 £3,975 £4,029
House £4,534 £4,527 £4,527
Maisonette £4,994 £4,015 £3,945

Finally a property offering several features will often reach a higher price. This means several bathrooms, a large number of bedrooms and a garden are factors driving the price up.

Browsing the features of your next place in EN7?

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Ongoing or Upcoming developments in EN7

Whenever an area welcomes new developments, it means that the area is attractive and that developers and public decision makers see a growing potential for the area. These developments such as new housing developments but also new train stations and shopping centres can drive the price of a property in EN7 up. We have simplified you the task of finding out how many developments will come up in the coming years in EN7.

Type of development Number of planning applications
Residential 0
Transportation 0
Non residential 0
Planning proposal in progress 0
Green belt 0
Recycling 0
Other applications 0

Note: the applications below are the applications referred to the London Mayor by the local planning authority (usually EN7 ‘s Council planning authority). These applications are for: development proposing more than 150 residential units, buildings over 30m in height or buildings over 1000 square metres on Green belt or Metropolitan Open Land)

Demographic indicators in EN7

One of the last major impacting factors of the price of a property in EN7 will be the demographic indicators.
Population growth being the first. In EN7, over the past years the population has decreased between 2011 and 2021 by -0.58% going from 22,050 to 21923. This type of population growth would usually have a negative impact on the price of the property you are trying to buy or sell. Note: if you see an incredible growth, this might either mean that your postcode did not have previous or enough data for 2011.
Finally the population growth is a good indicator for you if you are looking to buy a property with the intention of renting it out. A high population growth is usually a good indicator of how easy a property will be let.

Other factors impact the value of a property in EN7

At last, there are a few other factors that can have an impact on the price of the property you are looking to buy or sell. These additional factors to take into account are as follow:

  • Environmental factors: floods, droughts but also the overall climate.
  • Governmental factors: is there a specific regulation to facilitate/limit the access to property
  • Market trends: some neighbourhoods in London will see a rise in demand some years due to trends or housing booms while in economic turmoils the prices within the same neighbourhood might decrease more significantly

Compare the average property prices in EN7 versus nearby locations

If you are looking to buy or sell in EN7, it might be a good idea to check how the prices are going in nearby neighbourhoods. This will help you get a better idea of the property market in EN7 and help you make an offer or help you set your prices (note: we always recommend to get a professional valuation).

Nearby area Average property price in 2021 Rental prices (pcm) 2022 for a 2 beds Check our properties
EN8 £ 357449 £ 0 See rental properties in SE20

check our properties for sale in SE20

EN2 £ 503448 £ 1389 See rental properties in SE20

check our properties for sale in SE20

EN9 £ 407400 £ 0 See rental properties in SE20

check our properties for sale in SE20

EN1 £ 455727 £ 1308 See rental properties in SE20

check our properties for sale in SE20

EN6 £ 612529 £ 0 See rental properties in SE20

check our properties for sale in SE20

EN3 £ 358534 £ 1296 See rental properties in SE20

check our properties for sale in SE20

EN4 £ 749167 £ 1369 See rental properties in SE20

check our properties for sale in SE20

N21 £ 723069 £ 1356 See rental properties in SE20

check our properties for sale in SE20

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