Property prices in HA5 – an analysis

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Exploring property prices when buying property in HA5 is a vital part of the process of buying and the purpose of this article is to give you an overview. This article by Cozee aims to tell you how the house prices over time in HA5 have changed and then give you an indication of what the key elements are that shape property price at the moment and will into the future.

How are average prices of different property types calculated in HA5?

In order to calculate the average price for a house, a flat or a maisonette in HA5 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 113 sold for a total amount of £43,277,757. So when we divide £43,277,757 by 113 we land on an average price of £382,989 for houses in the area.

How has the cost of property changed in HA5?

In this article, you will be able to find out how the rent and sale prices of properties in HA5 have changed. Please see below these charts showing how the property prices have evolved over time and how the rental prices have changed as well

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It is useful to note that as you read this article, you will be able to find the average prices in the graph below that is based solely on data provided by the Land Registry. This means you shouldn’t consider this as an accurate valuation for your property in HA5 at all and only use this information to form an understanding of how the property market has changed in your area and the wider area of London too.
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Looking at the significance of average prices of property transactions in the area of HA5

The average price serves as a tool to guide your property purchasing decisions or provide an estimate for potential selling prices. It offers a swift overview of the local property market in your area, but it's essential to understand that this figure doesn't necessarily dictate your property's selling price. Avoid basing your offer solely on the average price, as you must consider the unique characteristics of the specific property you are interested in. Further details below outline various factors that play a role in influencing property prices and should be carefully taken into account.
Before engaging in property transactions, Cozee strongly recommends considering the median price as a vital metric. The median price provides insight into the price at which 50% of the properties in HA5 were sold for a higher value and 50% were sold for a lower sum. This crucial metric goes beyond the average, offering a nuanced understanding of the diverse range of house prices in the local market. It ensures a more comprehensive assessment of property values, guiding both buyers and sellers in making informed decisions on property purchases and sales.
Take a closer look at property dynamics in HA5 during 2019, where 116 Flat changed hands. The median price, standing at £340,000, signifies that 50% of these Flat transactions in 2019 occurred at values surpassing £340,000, while the other 50% were completed at prices below £340,000. This data reveals a balanced distribution of sold house prices, offering a valuable perspective for both buyers and sellers navigating the vibrant property market in the HA5.

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What are the factors influencing the property price in HA5?

When evaluating the cost of a property, we typically consider seven primary factors, encompassing both economic and demographic aspects.

Location

It is common knowledge that the property's value is heavily impacted by its location, whether it leads to an increase or decrease. Certainly, the attractiveness of the neighbourhood and the overall safety conditions in HA5 are essential for understanding the property's price dynamics. Hence, when involved in property transactions, keeping the crime rate of the area in mind becomes imperative. It is recommended that you take a glance at Police.uk In HA5, the crime rate is around 61 per thousand people. This rate can be considered as mediumand will have a small impact on the price of a property in HA5%. It's crucial to emphasise that a higher crime rate doesn't necessarily equate to lower property prices, as other contributing factors come into play. Take central London, for instance, where despite a relatively higher crime rate, property prices remain elevated compared to the rest of the UK. Additionally, the proximity to key amenities like schools, hospitals, shopping centres, and public transportation significantly contributes to the fluctuations in property prices in HA5. Understanding how these factors interplay is vital for those contemplating property transactions. For a concise overview of the potential impacts on property prices in HA5, refer to the summarised table below:

Amenity No. in HA5
Hospitals 0
Doctor surgeries 78
Pharmacies 16
Schools 15
Shopping centres located within 5 miles 10
Public transport stations 1 (for exact details see the website)

What is the economy like in HA5?

The office for National Statistics seen here provides an economic overview of how the wider changes in the economy impact the price of property in the UK. The employment rate, the income level in HA5 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 within the years of 2019-2024 according to the Bank of England By looking at the map below you will be able to work out the level of income around HA5. It is important to pay attention to the data on income levels as you can use it to estimate how much you can ask for your property where higher salaries indicate more buying power. Looking at the income level of the area is not all that you can look at to make an informed decision. 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. In correlation with income levels, regions boasting elevated employment rates are inclined to draw higher property values.

Analysing supply and demand

The concept of supply and demand is true in every type of business and when it comes to property, a low supply and a high demand means property prices grow. This implies that selling a property in a high-demand area could potentially lead to a price increase and allow you to take advantage of the principle. In order to analyse what the supply and demand is in HA5, Cozee recommends you to search property listing portals such as Zoopla and Rightmove which will give you an up to date, live forecast of property prices. To use listing portals in the best way, consider which type of maisonette flat or house is currently listed and then consider how long it has been on the market for. Properties that sell quickly are not on the market for long and this would indicate the price was right for the level of demand.

The features and size of property

As you begin taking a guess of the property price in HA5, you may find that estate agents do it differently to you and will begin taking an estimate based on square foot. This means that the bigger the property is, the higher the price will reach. NOTE: The price per square foot in HA5 may be influenced by the overall condition of the property. Poorly maintained properties are likely to experience a decrease in the price per square foot. At Cozee, we've streamlined this process for your convenience and aim to furnish you with the average price per square foot in your area according to the type of property.

Type of property 2020 2021 2022
Flat £5,410 £5,369 £5,794
House £5,671 £5,922 £5,922
Maisonette £4,974 £4,904 £5,373

Ultimately, a property boasting an array of features tends to command a higher price. This translates to multiple bathrooms, a generous number of bedrooms, and the presence of a garden—elements that contribute to elevating the property's value.

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If you are interested in buying or selling a home with many bathrooms, bedrooms, outdoor space, or other premium features, contact our property sale experts. We can provide a comprehensive property valuation and schedule viewings so you can make the most informed decision with Cozee.

Housing and other developments in HA5

If developers in HA5 think that there is a lot of potential in an area, they will tend to develop there. These developments, such as new housing developments can show that there is potential for growth and the value of land will go up. It can also come in the form of things like new places to do shopping for residents and new transport links. We have streamlined the process of researching upcoming developments planned for HA5 over the next few years. As our table below goes into all of the details.

Development type Applications
Residential 0
In progress planning permission 0
Non residential 0
Transportation 0
Other applications 0
Recycling 0
Green belt 0

The applications listed below were submitted to the Mayor of London for review by the local planning authority, typically the Council planning department in HA5. Under regulations, the Mayor's office must evaluate proposals that exceed certain thresholds. Specifically, developments with over 150 residential units, buildings taller than 30 metres, or structures larger than 1000 square metres on protected Green Belt or Metropolitan Open Land are eligible. This extra layer of oversight applies to major projects that could impact London more broadly.

Demographic data

A key factor influencing property values in HA5 is demographic data. Things like population growth and the impact of this growth on property data will be looked at below. Household income being another factor. In HA5, over the past years the median household income has grown between 2011 and 2021 by 4.71%. The population went from 44,985 to 47104 in 10 years. This type of income growth would usually have a positive impact on the price of the properties you are trying to buy or sell. Note:If you notice a very large increase in growth, it could be because there was limited or no previous data for your postcode area in 2011. Therefore, the growth may appear greater than it actually is. Finally, population levels are good because a growing population and a large population would indicate that the property you’re listing for rent will be able to be rented fairly easily.

Other variables that change how much property is sold for in HA5

At last, additional factors may sway pricing on property you are targeting. Elements worth evaluating include:

  • Crime levels: Lower crime rates make neighbourhoods safer and more appealing to buyers. High crime deters interest.
  • Amenities: Things like parks, shopping, restaurants make an area attractive. Lack of amenities can discourage potential buyers.
  • Noise levels: Quieter areas are preferred over those affected by major roads, airports etc. Noise pollution reduces desirability.
  • Green spaces: Access to nature, trails, gardens enhances a property's value. Lack of green spaces can deter some buyers.

Find the difference in property price between HA5 and other neighbouring areas

If you plan to buy or sell property in HA5, researching sales in surrounding neighbourhoods can provide useful market insights. Comparing home values in nearby vicinities gives better context for pricing trends influencing HA5. This helps set realistic offer or list prices (note: professional appraisals are always recommended for accurate valuations).

Nearby area Average property price in 2021 Rental prices (pcm) 2022 for a 2 beds Check our properties
HA2 £ 489887 £ 1332 See rental properties in SE20

check our properties for sale in SE20

HA3 £ 516003 £ 1318 See rental properties in SE20

check our properties for sale in SE20

HA1 £ 507922 £ 1394 See rental properties in SE20

check our properties for sale in SE20

HA4 £ 548839 £ 1353 See rental properties in SE20

check our properties for sale in SE20

HA6 £ 853403 £ 1355 See rental properties in SE20

check our properties for sale in SE20

HA7 £ 660105 £ 1417 See rental properties in SE20

check our properties for sale in SE20

UB5 £ 383672 £ 1322 See rental properties in SE20

check our properties for sale in SE20

HA0 £ 478808 £ 1387 See rental properties in SE20

check our properties for sale in SE20

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