Woolwich’s Housing Market and Transport links

The housing market and transport links in Woolwich are making this South East London suburb an attractive prospect for buy-to-let investors. As a potential landlord, it is important to understand the type and volume of residential properties available in Woolwich, as well as the rental and ownership rates, average house prices, age of housing stock, and major housing development projects in the area.

The Volume of Residential Properties

Woolwich has a diverse range of residential properties, from modern apartments to period houses.The number of 1 bedroom flats is 6,435, 2 bedroom flats is 5,438, and 3 bedroom flats is 1,666. The number of 1 bedroom houses is 325, 2 bedroom houses is 3,238, and 3 bedroom houses is 5,878. The type and number of bedrooms can have a significant impact on rental yields and tenant demand. For example, the number of 1 bedroom flats is typically in high demand with young professionals, whereas families may require 2-3 bedroom properties.

Volume of renters versus homeowners:

Woolwich has a higher proportion of renters than homeowners, with around 56% of the population living in rented accommodation. This is higher than the national average of 49%. The high demand for rental properties in the area can be attributed to the growing student population and the increasing number of young professionals who are choosing to live in the area.

Average House Price

The average price for a one-bedroom house in Woolwich is around £300,000, while the average price for a two-bedroom house is around £430,000. For a three-bedroom house, the average price is around £575,000. These figures are lower than the London average, making Woolwich an attractive location for investors looking to enter the property market without breaking the bank.

Free Landlord Resources

Housing Stock

Woolwich has a mix of old and new housing stock. The age of the properties ranges from 19th century period houses to modern new build apartments. There are currently 9,728 new build properties in Woolwich. It’s important to consider the age of the housing stock when choosing a buy-to-let location as newer properties often require less maintenance and can attract higher rents.

Major Housing Developments

Woolwich is undergoing major housing development projects that will further enhance its desirability as a location for investment. Some of the major housing development projects in the area include Royal Arsenal Riverside, Trinity Walk, and Woolwich Central. Investors can find more information on these developments on the Greenwich Council website https://www.royalgreenwich.gov.uk/.  It’s important to consider the potential for future development as it can increase the value of the property.

Transport Links

One of the primary modes of transportation in Woolwich is the Docklands Light Railway (DLR), which connects Woolwich Arsenal to the City of London, Canary Wharf, and other parts of East London. The railway runs frequently and is an efficient and convenient way to get around the area.

In addition to the DLR, there are several bus routes that run through Woolwich, connecting it to other parts of London. These include routes 53, 54, 96, 122, 161, 177, 178, 244, 291, 380, 422, 469, and 472. The bus services are also frequent, making it easy to travel from Woolwich to other parts of London.

Woolwich is also served by the Woolwich Arsenal railway station, which provides connections to central London, North Kent, and the South East. The station is part of the National Rail network, and trains run regularly throughout the day.

Lastly, the Woolwich Ferry provides a direct link across the River Thames between Woolwich and North Woolwich. This service is free and runs every few minutes, making it a popular choice for pedestrians, cyclists, and motorists alike.

In conclusion, Woolwich is an attractive location for buy-to-let investors due to its diverse housing stock, strong rental market, affordable house prices, and major housing development projects. Overall, Woolwich benefits from an excellent transport infrastructure, making it easy for locals and visitors to get around the area and beyond.

Free Landlord Resources