How property prices evolved in WC2R?

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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 WC2R. 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 WC2R.

What are the factors influencing the property price in WC2R?

When it comes to assessing the price of a property we tend to look at 7 main factors. These factors can be economic as well as demographic factors.

Location

We are all aware that the location of a property plays a crucial role in driving up or down the price of a property. Indeed the desirability of the neighbourhood and overall safety of WC2R is key to understanding the price. That is why, when buying or selling a property it is important to have in mind the crime rate of the area.
We recommend that you have a look at Police.uk Unfortunately we were not able to gather sufficient data regarding crimes in WC2R. Note: it is important to note that there is not a good correlation between a higher crime rate and the price of a property. If this can have an impact, this is not the only factor. A quick example is in central London. The property price are higher than the rest of the UK but property prices are still high.
Then comes the proximity with different amenities such as schools, hospitals, shopping centres and public transportations. These elements have a significant impact on the price of the property you might want to buy or sell. To help you get an idea of how this could affect the price of a property in WC2R we have summarised these factors in the table below:

Type of amenities Number in WC2R
NHS Trusts (hospitals) 0
Practitioners 4
Pharmacies 2
Schools 1
Shopping centres (within a 5mi radius) 20
Public transports (number of train or underground stations) 0 (for more details we recommend that you have a look at tlf

Economic conditions in WC2R

In 2023, we are now all aware that the overall economic environment has a consequent impact on the property price. The Office for National Statistics provides a macroeconomic view of these factors.
The employment rate, the income level in WC2R 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 from the Bank of England over the period 2019-2024 The map below shows you in a very few clicks the income level of around WC2R. If you are looking to sell your property this indicator might be very helpful to gauge how much you could ask for. The higher the income is in a certain area, the higher the affordability of the households will be. 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. As for the income level, an area with a higher employment rate will most likely fetch higher property prices.

Supply and demand in WC2R and how to assess it

This is a basic economic principle but whenever the supply is low and the demand high, asking prices are growing accordingly and vice versa. This is true in your area. This means that if you are selling a property in a highly demanded area you might be able to benefit from an increase in price due to this principle. To assess the supply and demand of properties for sale in WC2R, we recommend you to have a look at the number of listings on Rightmove, Zoopla and other listing platforms

Looking to buy or sell your property in WC2R?

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

Check how many properties are currently listed and check for how long they have been listed for. This will give you an idea of how long it takes to sell a flat, house or maisonette in your area.

Property size, features and overall state

When it comes to estimate the price of a property in WC2R, estate agents are usually estimating the price per square foot. This means that the bigger the property is, the higher the price will reach. NOTE: this price per square foot in WC2R can be impacted by the overall state of the property. A badly maintained property will see a lower price per square foot.
At Cozee we have simplified this for you and we want to provide you with the average price per square foot in your area depending on the property type.

Property Type 2020 2021 2022
Flat £17,350 £20,570 £12,889
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 £14,757 unfortunately we have no data here

Finally a property offering several features will often reach a higher price. This means several bathrooms, a large number of bedrooms and a garden are factors driving the price up.

Browsing the features of your next place in WC2R?

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Ongoing or Upcoming developments in WC2R

Whenever an area welcomes new developments, it means that the area is attractive and that developers and public decision makers see a growing potential for the area. These developments such as new housing developments but also new train stations and shopping centres can drive the price of a property in WC2R up. We have simplified you the task of finding out how many developments will come up in the coming years in WC2R.

Type of development Number of planning applications
Residential 0
Transportation 0
Non residential 0
Planning proposal in progress 0
Green belt 0
Recycling 0
Other applications 0

Note: the applications below are the applications referred to the London Mayor by the local planning authority (usually WC2R ‘s Council planning authority). These applications are for: development proposing more than 150 residential units, buildings over 30m in height or buildings over 1000 square metres on Green belt or Metropolitan Open Land)

Demographic indicators in WC2R

One of the last major impacting factors of the price of a property in WC2R will be the demographic indicators.
Population growth being the first. In WC2R, over the past years the population has grown between 2011 and 2021 by 35700.00% going from 1 to 358. This type of population growth would usually have a positive impact on the price of the property you are trying to buy or sell. Note: if you see an incredible growth, this might either mean that your postcode did not have previous or enough data for 2011.
Finally the population growth is a good indicator for you if you are looking to buy a property with the intention of renting it out. A high population growth is usually a good indicator of how easy a property will be let.

Other factors impact the value of a property in WC2R

At last, there are a few other factors that can have an impact on the price of the property you are looking to buy or sell. These additional factors to take into account are as follow:

  • Environmental factors: floods, droughts but also the overall climate.
  • Governmental factors: is there a specific regulation to facilitate/limit the access to property
  • Market trends: some neighbourhoods in London will see a rise in demand some years due to trends or housing booms while in economic turmoils the prices within the same neighbourhood might decrease more significantly

Compare the average property prices in WC2R versus nearby locations

If you are looking to buy or sell in WC2R, it might be a good idea to check how the prices are going in nearby neighbourhoods. This will help you get a better idea of the property market in WC2R and help you make an offer or help you set your prices (note: we always recommend to get a professional 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

For houses and flats and other properties, how are the average prices in WC2R calculated?

In order to calculate the average price for a house, a flat or a maisonette in WC2R we have analysed the Land Registry dataset over the past 12 years. To come up with this average number we calculated the sum of all the prices paid in the area per property type and divided this amount by the number of properties of this specific type.
Let’s take a look at the average price for a Flat in 2021. In our area there were 1 sold for a total amount of £580,000. So when we divide £580,000 by 1 we land on an average price of £580,000 for houses in the area.

How have property prices changed in WC2R?

Work out how the price of property and the average rents of property in WC2R have evolved by checking the price evolution and the rental price changes over time

Looking to buy or sell your property in WC2R?

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

In the illustration below, any data presented is based on data provided by the land registry which is an average of house prices. You can visit the Land Registry to search for land and property information yourself too. So, when reading this article, please consider the information provided as an inaccurate way of working out the valuation of your property and only use the following information as a way to see how the property market changed in WC2R and the rest of the capital.
For an accurate valuation you can rely on, speak to a member of our team instead.

A look into the crucial role of average property prices when buying or selling a house

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 WC2R 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 WC2R during 2019, where 6 Flat changed hands. The median price, standing at £1,750,000, signifies that 50% of these Flat transactions in 2019 occurred at values surpassing £1,750,000, while the other 50% were completed at prices below £1,750,000. 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 WC2R.

Looking to buy or sell your property in WC2R?

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

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