How property prices evolved in WC2H?

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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 WC2H. 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 WC2H.

How are average prices of different property types calculated in WC2H?

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 WC2H. 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 £4,285,000. So when we divide £4,285,000 by 2 we land on an average price of £2,142,500

What are the factors influencing the property price in WC2H?

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 WC2H 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 Unfortunately we were not able to gather sufficient data regarding crimes in WC2H. 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 WC2H. 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 WC2H, we’ve compiled a summarised table below:

Type of facility The number in WC2H
Hospitals 0
GP surgeries 8
Chemists 0
Schools 0
Shopping centres within five miles 21
Number of train and underground stations 0 (for exact details see the website)

The economic conditions in WC2H

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 WC2H 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 WC2H 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 WC2H, 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 WC2H, 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 WC2H 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 £11,548 £15,060 £9,780
2021 £14,065 unfortunately we have no data here unfortunately we have no data here
2022 £14,516 unfortunately we have no data here £16,170

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 WC2H?

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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 WC2H

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 WC2H 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 WC2H 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 WC2H.

Population data

It is important not to forget about the demographic indicators that affect the price of a property in WC2H too. Things like employment levels you may not have thought about and in WC2H, over the past few years, the number of people has in fact decreased between 2011 and 2021 by a factor of -4.30%. This has resulted in the population going from 2,491 to 2384 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 WC2H?

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 WC2H and nearby When targeting the WC2H 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
SE11 £ 647925 £ 1868 See rental properties in SE20

check our properties for sale in SE20

SE1 £ 808499 £ 2025 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

SE17 £ 515859 £ 1721 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 WC2H?

The average price serves as a tool to guide your property purchasing decisions or provide an estimate for potential selling prices. It offers a swift overview of the local property market in your area, but it’s essential to understand that this figure doesn’t necessarily dictate your property’s selling price. Avoid basing your offer solely on the average price, as you must consider the unique characteristics of the specific property you are interested in. Further details below outline various factors that play a role in influencing property prices and should be carefully taken into account.
Before engaging in property transactions, Cozee strongly recommends considering the median price as a vital metric. The median price provides insight into the price at which 50% of the properties in WC2H were sold for a higher value and 50% were sold for a lower sum. This crucial metric goes beyond the average, offering a nuanced understanding of the diverse range of house prices in the local market. It ensures a more comprehensive assessment of property values, guiding both buyers and sellers in making informed decisions on property purchases and sales.
Take a closer look at property dynamics in WC2H during 2019, where 4 Flat changed hands. The median price, standing at £695,000, signifies that 50% of these Flat transactions in 2019 occurred at values surpassing £695,000, while the other 50% were completed at prices below £695,000. This data reveals a balanced distribution of sold house prices, offering a valuable perspective for both buyers and sellers navigating the vibrant property market in the WC2H.

Looking to buy or sell your property in WC2H?

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How have property prices changed in WC2H?

This article will allow you to check the rental and sold prices of properties in WC2H.

Looking to buy or sell your property in WC2H?

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 WC2H 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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