Property prices in N1C – an analysis

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Cozee is dedicated to offering comprehensive insights into the fluctuations of sold house prices, property prices, and various property options in N1C. Within this text, we aim to present to you simply and easily how historical shifts in house prices have occurred and then present an analysis of the factors influencing property values in N1C too. So, read on for all of the information you require.

What are the factors influencing the property price in N1C?

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 N1C 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 Unfortunately we were not able to gather sufficient data regarding crimes in N1C%. 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 N1C. Understanding how these factors interplay is vital for those contemplating property transactions. For a concise overview of the potential impacts on property prices in N1C, refer to the summarised table below:

Amenity No. in N1C
Hospitals 0
Doctor surgeries 0
Pharmacies 3
Schools 3
Shopping centres located within 5 miles 18
Public transport stations 1 (for exact details see the website)

What is the economy like in N1C?

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 N1C 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 N1C. 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 N1C, 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 N1C, 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 N1C 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 £15,773 £15,097 £15,657
House unfortunately we have no data here unfortunately we have no data here unfortunately we have no data here
Maisonette unfortunately we have no data here £17,348 £18,959

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 N1C?

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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 N1C

If developers in N1C 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 N1C 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 N1C. 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 N1C 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 N1C, over the past years the median household income has grown between 2011 and 2021 by 240400.00%. The population went from 1 to 2405 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 N1C

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 N1C and other neighbouring areas

If you plan to buy or sell property in N1C, researching sales in surrounding neighbourhoods can provide useful market insights. Comparing home values in nearby vicinities gives better context for pricing trends influencing N1C. 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
N5 £ 929022 £ 2202 See rental properties in SE20

check our properties for sale in SE20

E8 £ 690560 £ 1653 See rental properties in SE20

check our properties for sale in SE20

E2 £ 868865 £ 2047 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

N7 £ 642796 £ 1809 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

How has the cost of property changed in N1C?

This article will allow you to check the rental and sold prices of properties in N1C.

Looking to buy or sell your property in N1C?

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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 N1C 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 N1C?

The data below was calculated by doing the calculation for creating averages, adding up all the prices paid for a given property type and then dividing by the number of sales for the same property type over the past 12 years in N1C. Therefore giving you the average price for a house and flat.
Let's examine the average price for a Maisonette in 2021. There were 2 sold for a total amount of £5,289,500. So when we divide £5,289,500 by 2 we land on an average price of £2,644,750

A look into the crucial role of average property prices when buying or selling a house

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 N1C 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 58 Flat units. The median price, marked at £1,288,000, signifies a pivotal point where 50% of these Flat transactions surpassed £1,288,000, and the remaining 50% fell below. This detailed breakdown of £1,288,000 illuminates the diverse spectrum of house prices in N1C 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 N1C.

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