How property prices evolved in NW5?

Home » en » Resources » Properties prices in London – An evolution over time » How property prices evolved in NW5?

Modern residential unit at night in London

Cozee has made a tremendous effort to provide you with the evolution of house prices, flat prices and other types of properties in NW5. 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 NW5.

Looking at the significance of average prices of property transactions in the area of NW5

The average price is here to help you define how much you should be buying a property for or give you an estimate of how much you could sell it for. The average price gives you a very quick overview of the property market in your area. But this does not mean that your property will sell for this price nor should you put an offer for this price. You will have to factor in the specificities of the property you are looking at. Please see below to check in detail the different factors impacting the price.
Before considering buying or selling a property. Cozee recommends that you also have a look at the median price. The median price gives you the price for which 50% of the properties sold in NW5 were sold for a higher price and 50% of the properties were sold for a lower price.
For example in NW5 in 2019 there were 104 Flat sold. The median price was £525,000. This means that 50% of the Flat sold in 2019 were sold for more than £525,000 and also that 50% of them were sold for less than £525,000.
Finally if you want a clear picture of how much your property is worth, our team of experts at Cozee are here to help. Their knowledge of the area is a guarantee of quality as they are connected to today’s market in NW5.

Looking to buy or sell your property in NW5?

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

How property prices have evolved in NW5?

This article will allow you to check the rental and sold prices of properties in NW5.

Looking to buy or sell your property in NW5?

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 NW5 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 NW5?

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 NW5. Therefore giving you the average price for a house and flat.
Let's examine the average price for a Flat in 2021. There were 146 sold for a total amount of £87,648,034. So when we divide £87,648,034 by 146 we land on an average price of £600,329

What are the factors influencing the property price in NW5?

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 NW5 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 NW5, the crime rate is around 124 per thousand people. This rate can be considered as highand will have a negative impact on the price of a property in NW5. 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 NW5. 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 NW5, we've compiled a summarised table below:

Type of facility The number in NW5
Hospitals 0
GP surgeries 135
Chemists 9
Schools 14
Shopping centres within five miles 22
Number of train and underground stations 3 (for exact details see the website)

The economic conditions in NW5

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 NW5 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 NW5 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 NW5, 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 NW5, 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 NW5 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 £9,421 £9,953 £7,370
2021 £8,829 £10,581 £8,791
2022 £9,066 £10,581 £7,982

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 NW5?

Reach out to our property experts for a quick call, they will help you completing this life changing project

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 NW5

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 NW5 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 NW5 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 NW5.

Population data

It is important not to forget about the demographic indicators that affect the price of a property in NW5 too. Things like employment levels you may not have thought about and in NW5, over the past few years, the number of people has in fact decreased between 2011 and 2021 by a factor of -2.78%. This has resulted in the population going from 31,125 to 30260 in ten years, having a negative 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 NW5?

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 NW5 and nearby When targeting the NW5 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
N19 £ 738985 £ 1590 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

NW3 £ 1640134 £ 2384 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

NW1 £ 1294503 £ 2355 See rental properties in SE20

check our properties for sale in SE20

NW8 £ 1919428 £ 1986 See rental properties in SE20

check our properties for sale in SE20

N5 £ 929022 £ 2202 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

N4 £ 676294 £ 1787 See rental properties in SE20

check our properties for sale in SE20

Looking to buy or sell your property? Go with Cozee

  • Trusted estate agent
  • More than 25 years of experience combined
  • We help you focus on your objective (investment, 1st time buy)
Skyscrapers of London

Leave a Reply

Your email address will not be published. Required fields are marked *