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The London Borough of Bexley is primarily a residential area, although there are more than 90 parks and woodlands, making it one of the greenest boroughs in the city.
The borough was also recently recognised as the second safest borough in the city, in terms of recorded crime. Residents are so happy with the area, that the borough was rated as ‘excellent’ by the Audit Commission; Bexley is one of only 26 local authorities in England to receive this rating.
Living in Bexley clearly has its benefits, but what if you wanted to move out? What can you expect when selling your home in Bexley?
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Looking to sell your Bexley home?
Property prices have been on the rise largely in line with the rest of London, and will now cost buyers roughly £341,582 to purchase a home in the area. Flats in Bexley have seen the highest increase in price (25%) but are still considerably lower than the majority of London, at just £217,986.
Terraced and semi-detached homes, which are both in high demand in Bexley, will achieve a price of around £338,620 to £405,821 on average. Detached homes have also seen an increase in the area, but at only 6% over the last year. Still, your detached property could sell for around £521,667 on average.
Looking to rent your home?
You may want to move from Bexley but still keep your property to rent out. So what can you expect when putting your property on the borough’s rental market?
Two bedroom flats are the most demanded property on the rental market, and should achieve an average monthly income of £973-£1,113 PCM. Three to four bedroom properties will also peak people’s interest and should rent out for £1,378-£2,025 PCM. If you’re considering renting out individual rooms, you can expect to achieve a monthly income of £482 a month.
Buyer demographic in Bexley
The London Borough of Bexley attracts an older demographic than the rest of London, at 39 years old on average. Although this may not seem that old, the number will have been raised above the London average of 35 by older generations. The area is popular among married couples and families.
Properties in Bexley will generally sell quite quickly at just 48 days on average. This amount of time is about the same across the board for flats, terraced and semi-detached properties. However, due to a higher price, detached properties are likely to take a little longer at around 60 days to sell.
Similar locations to Bexley
Bexley is a great place to live and within good distance to London city centre. If you are looking for somewhere of similar distance to London, but with more green space, consider moving to Barnet or Enfield.
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