Evolution of property prices in N17 provided by the Land Registry

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Exploring property prices when buying property in N17 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 N17 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.

What are the factors influencing the property price in N17?

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 N17 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 N17, the crime rate is around 178 per thousand people. This rate can be considered as highand will have a negative impact on the price of a property in N17%. 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 N17. Understanding how these factors interplay is vital for those contemplating property transactions. For a concise overview of the potential impacts on property prices in N17, refer to the summarised table below:

Amenity No. in N17
Hospitals 0
Doctor surgeries 73
Pharmacies 12
Schools 26
Shopping centres located within 5 miles 17
Public transport stations 4 (for exact details see the website)

What is the economy like in N17?

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 N17 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 N17. 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 N17, 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 N17, 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 N17 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 £5,343 £5,894 £5,422
House £6,158 £5,245 £5,245
Maisonette £3,993 £6,746 £4,681

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.

Browsing the features of your next place in N17?

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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 N17

If developers in N17 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 N17 over the next few years. As our table below goes into all of the details.

Development type Applications
Residential 5
In progress planning permission 1
Non residential 0
Transportation 0
Other applications 1
Recycling 1
Green belt 1

The applications listed below were submitted to the Mayor of London for review by the local planning authority, typically the Council planning department in N17. 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 N17 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 N17, over the past years the median household income has grown between 2011 and 2021 by 8.28%. The population went from 63,538 to 68798 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 N17

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 N17 and other neighbouring areas

If you plan to buy or sell property in N17, researching sales in surrounding neighbourhoods can provide useful market insights. Comparing home values in nearby vicinities gives better context for pricing trends influencing N17. 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
N15 £ 605880 £ 1453 See rental properties in SE20

check our properties for sale in SE20

N18 £ 371201 £ 1323 See rental properties in SE20

check our properties for sale in SE20

E17 £ 541442 £ 1425 See rental properties in SE20

check our properties for sale in SE20

N9 £ 423078 £ 1358 See rental properties in SE20

check our properties for sale in SE20

N22 £ 612216 £ 1491 See rental properties in SE20

check our properties for sale in SE20

N13 £ 563432 £ 1317 See rental properties in SE20

check our properties for sale in SE20

N4 £ 676294 £ 1787 See rental properties in SE20

check our properties for sale in SE20

N16 £ 726398 £ 1705 See rental properties in SE20

check our properties for sale in SE20

N8 £ 755042 £ 1602 See rental properties in SE20

check our properties for sale in SE20

E5 £ 622706 £ 1717 See rental properties in SE20

check our properties for sale in SE20

Why is the average price important when buying or selling your property in N17?

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 N17 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 147 Flat units. The median price, marked at £287,000, signifies a pivotal point where 50% of these Flat transactions surpassed £287,000, and the remaining 50% fell below. This detailed breakdown of £287,000 illuminates the diverse spectrum of house prices in N17 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 N17.

Looking to buy or sell your property in N17?

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How has the cost of property changed in N17?

This article will allow you to check the rental and sold prices of properties in N17.

Looking to buy or sell your property in N17?

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

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 N17 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.

How are the average price for houses, flats and other property calculated in N17?

Analysing the Land Registry dataset spanning the past 12 years, we have accurately calculated the average price for a house, a flat and a maisonette in N17. This involved adding up all prices paid in the area per property type and then dividing this total by the number of properties of that specific type.
Looking at the average price for a Flat in 2021. There were 81 properties sold in our area for a total amount of £25,528,608. So we’ll need to divide £25,528,608 by 81 to get a figure of £315,168 for the average price of a house.

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