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The Royal Borough of Greenwich has a growing population of residents and is home to a collection of quirky shops and street markets, including the Greenwich Covered Market.
Greenwich provides a variety of great attractions throughout the borough, such as the Royal Observatory, the Prime Meridian, Eltham Palace, Severndroog Castle and the O2 Arena. While living in Greenwich is full of culture and entertainment, you may find yourself wanting to make a move from Greenwich. So what can you expect when selling your home in the borough?
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Looking to sell your Greenwich home?
Property prices in Greenwich have seen dramatic increases over the last year. Prices for the borough have risen by 23% overall, with the average property achieving the price of around £491,906.
Detached and semi-detached properties are least advertised in the area, but most in demand, meaning you can expect to get offers around £1,075,000 to £1,715,750 for your home.
Flats are the most advertised properties in the area and have seen a 19% increase in price over the last year. You can now expect to see offers of £413,526 on average for a flat in Greenwich. Terraced properties are also somewhat available in Greenwich, and will achieve an average of £681,368.
Looking to rent your home?
You may want to move from Greenwich but keep your property to rent out. So what can you expect with the rental market in Greenwich?
Houses are most sought after in the area and should bring in an average monthly income of around £2,252-£2,972 PCM.
Flats, which are most advertised in the area, will achieve an income of around £1,712 PCM, while individual rooms will bring in £777 on average.
Buyer demographic in Greenwich
The Royal Borough of Greenwich brings in a mixture of families and young professional singles working in the city. The average age for people moving into the area is 35 years old, which is in line with the standard for Greater London.
Due to the lack of detached houses in the area, these properties are most sought after and will be snapped up within 36 days of being advertised.
Semi-detached properties are also in high demand, with contracts being completed within 46 days. Terraced homes and flats, while being the most advertised, take the longest to sell at 84-94 days.
Similar locations to Greenwich
The Royal Borough of Greenwich is a great place to live with many national attractions and green spaces available for the public. If you are looking to move somewhere similar, consider moving to Merton or even Barnet in North London.
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