According to the Land Registry, how has the NW7 area evolved?

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Cozee has made a tremendous effort to provide you with the evolution of house prices, flat prices and other types of properties in NW7. 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 NW7.

Looking at the significance of average prices of property transactions in the area of NW7

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 NW7 were sold for a higher price and 50% of the properties were sold for a lower price.
For example in NW7 in 2019 there were 224 Flat sold. The median price was £369,000. This means that 50% of the Flat sold in 2019 were sold for more than £369,000 and also that 50% of them were sold for less than £369,000.
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 NW7.

Looking to buy or sell your property in NW7?

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For houses and flats and other properties, how are the average prices in NW7 calculated?

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 NW7. 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 112 properties sold in our area for a total amount of £51,198,784. So we’ll need to divide £51,198,784 by 112 to get a figure of £457,132 for the average price of a house.

What are the factors influencing the property price in NW7?

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 NW7 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 NW7, the crime rate is around 101 per thousand people. This rate can be considered as highand will have a negative impact on the price of a property in NW7. 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 NW7. 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 NW7, we’ve compiled a summarised table below:

Type of facility The number in NW7
Hospitals 0
GP surgeries 50
Chemists 6
Schools 19
Shopping centres within five miles 9
Number of train and underground stations 1 (for exact details see the website)

The economic conditions in NW7

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 NW7 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 NW7 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 NW7, 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 NW7, 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 NW7 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 £5,246 £5,525 £6,018
2021 £7,285 £5,987 £5,164
2022 £6,320 £5,987 £5,956

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 NW7?

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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 NW7

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 NW7 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 NW7 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 1
Residential 1
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 NW7.

Population data

It is important not to forget about the demographic indicators that affect the price of a property in NW7 too. Things like employment levels you may not have thought about and in NW7, over the past few years, the number of people has in fact grown between 2011 and 2021 by a factor of 11.45%. This has resulted in the population going from 25,670 to 28609 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 NW7?

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 NW7 and nearby When targeting the NW7 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
NW9 £ 447688 £ 1444 See rental properties in SE20

check our properties for sale in SE20

HA8 £ 545100 £ 1405 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

N3 £ 794740 £ 1480 See rental properties in SE20

check our properties for sale in SE20

N20 £ 916779 £ 1461 See rental properties in SE20

check our properties for sale in SE20

EN5 £ 648749 £ 1339 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

NW11 £ 1092658 £ 1682 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

N2 £ 1233616 £ 1546 See rental properties in SE20

check our properties for sale in SE20

How property prices have evolved in NW7?

This article will allow you to check the rental and sold prices of properties in NW7.

Looking to buy or sell your property in NW7?

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 NW7 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.

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