How property prices evolved in WC1E?

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Exploring property prices when buying property in WC1E 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 WC1E 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.

For houses and flats and other properties, how are the average prices in WC1E 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 WC1E. 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 13 properties sold in our area for a total amount of £12,693,226. So we’ll need to divide £12,693,226 by 13 to get a figure of £976,402 for the average price of a house.

What are the factors influencing the property price in WC1E?

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 WC1E 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 WC1E%. 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 WC1E. Understanding how these factors interplay is vital for those contemplating property transactions. For a concise overview of the potential impacts on property prices in WC1E, refer to the summarised table below:

Amenity No. in WC1E
Hospitals 0
Doctor surgeries 26
Pharmacies 0
Schools 4
Shopping centres located within 5 miles 20
Public transport stations 0 (for exact details see the website)

What is the economy like in WC1E?

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 WC1E 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 WC1E. 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 WC1E, 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 WC1E, 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 WC1E 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 £13,320 £12,910 £12,993
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 unfortunately we have no data here unfortunately we have no data here

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 WC1E?

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

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 WC1E

If developers in WC1E 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 WC1E 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 WC1E. 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 WC1E 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 WC1E, over the past years the median household income has decreased between 2011 and 2021 by -24.32%. The population went from 2,282 to 1727 in 10 years. This type of income growth would usually have a negative 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 WC1E

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 WC1E and other neighbouring areas

If you plan to buy or sell property in WC1E, researching sales in surrounding neighbourhoods can provide useful market insights. Comparing home values in nearby vicinities gives better context for pricing trends influencing WC1E. 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
NW1 £ 1294503 £ 2355 See rental properties in SE20

check our properties for sale in SE20

W2 £ 1363848 £ 2618 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

SE11 £ 647925 £ 1868 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 WC1E?

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 WC1E were sold for a higher price and 50% of the properties were sold for a lower price.
For example in WC1E in 2019 there were 10 Flat sold. The median price was £670,000. This means that 50% of the Flat sold in 2019 were sold for more than £670,000 and also that 50% of them were sold for less than £670,000.
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 WC1E.

Looking to buy or sell your property in WC1E?

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How has the cost of property changed in WC1E?

This article will allow you to check the rental and sold prices of properties in WC1E.

Looking to buy or sell your property in WC1E?

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 WC1E 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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