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Known as the ‘leafy suburb’, more than a quarter of the London Borough of Redbridge is covered by forest and green space. While on the outskirts of London, Redbridge is home to some 12,000 businesses that provide services for the borough’s growing population. While Redbridge may have many benefits that come along with living in the area, you may find yourself wanting to move away. So what can you expect when selling your property in Redbridge?
Looking to sell your Redbridge home?
Property prices in Redbridge are a lot more affordable than other places in London.
Although prices are on the rise, a flat in the borough will achieve around £226,586 on average, while a terraced house should sell for £362,116.
Detached and semi-detached homes have seen the highest rise in price and will set buyers back between £407,405 and £842,398.
Looking to rent your home?
You may be wanting to move from Redbridge, but want to keep your property to rent out. So what can you expect on the rental market? Rent is generally a lot lower in Redbridge in comparison to the majority of London.
Primarily due to its distance from the city centre, a house will achieve an average monthly income of around £1,658 PCM. Flats are not too far behind and should bring in around £1,171 PCM, while individual rooms will make you roughly £565 per month.
Buyer demographic in Redbridge
The average age for people in Redbridge is slightly higher than the London average. Although the average for Redbridge is only 36, this might suggest that those older than that age might take interest in your property. The borough is of particular appeal to married couples and families.
Property in Redbridge will generally be sold within 65 days, although this is vastly dependant on the type of property you are able to offer. Flats, semi-detached, and terraced properties will generally sell within 62-67 days.
However, detached properties will take a lot longer to sell, at around 88 days on average. This is about average with the rest of London, but is higher for the borough, primarily due price.
Similar locations to Redbridge
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