How the housing market has changed in NW11 – Analysis of the Land Registry

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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 NW11. 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 NW11 too. So, read on for all of the information you require.

How are average prices of different property types calculated in NW11?

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 NW11. 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 94 properties sold in our area for a total amount of £56,044,210. So we’ll need to divide £56,044,210 by 94 to get a figure of £596,215 for the average price of a house.

What are the factors influencing the property price in NW11?

In the process of gauging a property’s value, we usually take into account seven key factors, which may include both economic and demographic considerations.

Location

We all recognize that the property’s location significantly influences its value, either elevating or lowering it. Undoubtedly, the appeal of the neighbourhood and the overall safety of NW11 are pivotal factors in comprehending the price.
Therefore, when engaged in property transactions, it is crucial to consider the crime rate in the area. We advise that you read the Police.uk website for more information In NW11, the crime rate is around 107 per thousand people. This rate can be considered as highand will have a negative impact on the price of a property in NW11. It’s crucial to note that a higher crime rate doesn’t necessarily correlate with lower property prices. While it may exert some influence, other factors also play a significant role. Consider central London as an example, where property prices surpass those in other parts of the UK, even with a relatively higher crime rate.
The proximity to essential amenities such as schools, hospitals, shopping centres, and public transportation further shapes the property landscape in NW11. These factors wield considerable influence over the pricing of properties available for purchase or sale. To provide insight into how these elements can affect property prices in NW11, we’ve compiled a summarised table below:

Type of facility The number in NW11
Hospitals 0
GP surgeries 61
Chemists 9
Schools 15
Shopping centres within five miles 25
Number of train and underground stations 0 (for exact details see the website)

The economic conditions in NW11

Economic conditions have a large impact on property price. Just a simple Google search for the Office for National Statistics shows this change in real time. The level of employment, the income level in NW11 as well as the interest rates provided by banks at the current time all have an impact on property price. Hence, this will impact the amount that people buy and sell property for.
For a more in depth analysis, find out how interest rates have changed in the below chart based on data from the Bank of England and the Office for National Statistics.

Interest rates between 2019 and 2024 from the Bank of England In the map, the income levels of the area of NW11 are displayed. Consider the graph as another piece of information you can use to work out what the deprivation levels are in the area. The worse deprivation levels are and the lower the income is that people make, the more likely it is that house prices will be lower and so will the property offers that are put on property here. As well as the level of income, the employment rate of the area is another factor that is useful to take a look at. Find the area where the property is being bought and consider where it is on the map below that give an indication of the residents that are aged 16 years and over who were economically active and in employment in local authorities between 2011 and 2021. In relation to the income level, an area with a rate of higher employment is likely to attract higher property prices.

How to assess supply and demand

Supply and demand exists in your area and dictates the price of property. In general, the lower the supply and the higher the demand, the higher property prices will be. Hence, this will affect the price at which property is bought and sold for. This implies that when selling a property in a sought-after location, you could potentially capitalise on a price increase influenced by this.
In the area of NW11, you can take the name of where you live and put it into property listing sites such as Rightmove, Zoopla and OnTheMarket to get an accurate idea of property price at the moment. In order to use listing portals correctly, take a look at the number of properties that are currently listed as well as the time in which they have been listed for. If a property has been on the market for a quite a while, most of the time this indicates the price is too high for the flat, house or maisonette in your area.

Property size, features and overall state

When it comes to estimate the price of a property in NW11, estate agents are usually estimating the price per square foot. This means that the bigger the property is, the higher the price will reach.
It is useful to note that property values in NW11 are closely tied to the overall condition of the dwellings. For instance, a neglected home which is shrouded may find a lower price per square foot compared to a well maintained property. At Cozee, we’ve streamlined this process for your convenience below:

Type of property Flat House Maisonette
2020 £7,300 £7,632 £8,635
2021 £7,038 £8,246 £6,425
2022 £7,252 £8,246 £6,360

Properties with more amenities and features tend to command higher prices. Things like multiple bathrooms, numerous bedrooms, and outdoor space like gardens are desirable features that can increase a home’s value and sale price.

Browsing the features of your next place in NW11?

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We can provide a fair market valuation for your property or arrange viewings of available listings that match your criteria so don’t hesitate to reach out.

Developments in NW11

The introduction of new developments in a neighbourhood indicates it is a desirable and growing area. Developers and city planners make investment decisions based on a location’s potential, so new construction in the area of NW11 is usually a good sign. This can also include things like new public transport stations and retail areas – not just new housing developments.
Below, there is a table of the number of new developments in NW11 so you can make a guess as to how desirable the area truly is.

Development No. of planning applications
Green belt 0
Transportation 0
Non residential 0
Planning proposal in progress 0
Residential 0
Recycling 0
Other applications 0

It is useful to note that these applications are only for developments that have more than 150 units and are over 30 m in height. So, the applications that are below are from the local planning authority provided by the london Mayor and the planning authority in the area of NW11.

Population data

It is important not to forget about the demographic indicators that affect the price of a property in NW11 too. Things like employment levels you may not have thought about and in NW11, over the past few years, the number of people has in fact grown between 2011 and 2021 by a factor of 3.07%. This has resulted in the population going from 32,684 to 33688 in ten years, having a positive impact on the price of property in the area.
Please note: If you notice an unexpectedly large increase in the data, it could be because there was limited or no previous data for your postcode area in 2011. The growth may appear bigger than it is due to the lack of earlier figures to compare against. Finally the employment levels are a good indicator for you if you are looking to buy a rental investment property. A high employment growth is usually a good indicator of demand for housing as more people move to the area for jobs, driving up rents.

What other things move property price in NW11?

Finally, some other elements can influence the value of properties you want to buy or sell. Things to consider include:

  • Economic factors: interest rates, inflation, recessions can all impact housing demand and prices. Low rates often boost prices. High inflation or a downturn can decrease values.
  • Development factors: new construction, renovations, infrastructure improvements can make an area more desirable and valuable. Lack of investment can deter buyers.
  • Commute factors: Access to transit and jobs impacts prices. Easy commutes to major employers is a plus. Difficult commutes can deter buyers and lower values.
  • School factors: Highly ranked schools drive up demand and prices. Struggling school districts often decrease interest in an area.

H2: Look at the difference between price of property in NW11 and nearby When targeting the NW11 housing market, studying sales and listings in adjacent communities is advised. Seeing what comparable properties fetch in neighbouring vicinities supplements your understanding of local drivers of price. Use this data to make informed offers or set strategic asking prices for your property as a result. (Note: consult a licensed appraiser for a true market valuation).

Nearby area Average property price in 2021 Rental prices (pcm) 2022 for a 2 beds Check our properties
N2 £ 1233616 £ 1546 See rental properties in SE20

check our properties for sale in SE20

N3 £ 794740 £ 1480 See rental properties in SE20

check our properties for sale in SE20

NW4 £ 682688 £ 1424 See rental properties in SE20

check our properties for sale in SE20

N6 £ 1354330 £ 1925 See rental properties in SE20

check our properties for sale in SE20

NW2 £ 682817 £ 1566 See rental properties in SE20

check our properties for sale in SE20

N10 £ 887995 £ 1567 See rental properties in SE20

check our properties for sale in SE20

NW3 £ 1640134 £ 2384 See rental properties in SE20

check our properties for sale in SE20

N12 £ 631189 £ 1443 See rental properties in SE20

check our properties for sale in SE20

NW9 £ 447688 £ 1444 See rental properties in SE20

check our properties for sale in SE20

NW6 £ 896965 £ 1897 See rental properties in SE20

check our properties for sale in SE20

How has the cost of property changed in NW11?

In this article, you will be able to find out how the rent and sale prices of properties in NW11 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 NW11 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.
Contact a member of our team for an accurate valuation.

Looking at the significance of average prices of property transactions in the area of NW11

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 NW11 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 119 Flat units. The median price, marked at £500,000, signifies a pivotal point where 50% of these Flat transactions surpassed £500,000, and the remaining 50% fell below. This detailed breakdown of £500,000 illuminates the diverse spectrum of house prices in NW11 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 NW11.

Looking to buy or sell your property in NW11?

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