Disclaimer

NIMS endeavours to ensure that datasets contained in this report are up-to-date and accurate. Update schedules may on occasions result in data being slightly out of date at the time of viewing. Should you have any queries regarding data accuracy please contact us directly (see the Contact Us page). No liability or responsibility will be accepted arising from dependence upon the information on this site. For more information see the legal's link at the bottom of this page.

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Average Mean Property Price

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Between 1991 and 2006 London experienced a 10% increase in its population compared to 5% increase nationwide.

Newham is no different and is predicted to have a significant increase in its population in the next census in 2011. Indeed, with the increase in population there is a knock on effect on demand for housing (privately owned or social housing). With the increase in demand prices have also been going up at a rapid pace. The statistical information below will show the trends in the housing market.

Housing supply has been steadily increasing in London. According to GLA figures there are currently around 100,000 net new units with planning permission but with construction not yet started. Demand for housing currently is at an all time high, especially in London, raising the question of affordability. It should also be noted that London has the highest proportion of potential first time buyers able to afford more than social rents yet unable to buy, even at the low end of the housing mark

Increasing house prices in Newham are no different from rapid increases throughout London and in some areas Newham has experienced a higher than average rise. For example in1996 a typical house in Newham was sold for £50,116, however, the same house increased its value by well over 400% in 2006, at £211,596. In contrast the average price of a house in London increased by nearly 300%, still lower than significant rises experienced in Newham.

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Annual Property Sales

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The number of property sales in Newham has been slowly reducing over the last six years with the exception of 2005 when the housing market took a big dip. In the last decade the London housing market has experienced a significant rise in property prices and this may have contributed to the reduction of property sales in Newham.

In 2001, the total number of property sales in London amounted to 165,022. And in comparison, Newham had 5,471 sales, just over 3% of the total sales. The period which had the lowest number of property sales was in 2005 and the trend was similar in Newham e.g. in 2005 a total of 3,649 properties were sold compared to 5,471 properties sold in 2001 – a reduction of 1,822 property sales.

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Housebuilding

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There are currently around 100,000 net new units with planning permission but with construction not yet started, and a further 60,000 under construction. Conventional housing supply has risen strongly in London since the turn of the century, up from 17,130 in 1999 to well over 20,000 in 2006/07. (Source: GLA Focus on London, 2008).

A total of 311 dwellings were started in Newham during 2006/07. There were 471 completions, an increase of 160 new homes for this period, representing a 51.45% increase. In 2005/06 a total of 645 dwellings were started and there were 796 completions, representing a 23.4% increase in new homes.

In London trend data show that in 1998/99 building started on 13,616 dwellings. In 2006/07 there were 19,032 dwellings started, a 39.8% increase. In Newham in 1998/99 building started on 440 dwellings. In 2006/07 311 dwellings were started representing a drop of 29%.

The total number of dwellings completed in London in 1998/99 was 12,283. In 2006/07 this figure had risen to 19,064, a 55% increase. In Newham in 1998/99 312 dwellings were completed rising to 471 in 2006/07 representing a 51% increase.

The total number of dwellings completed in London in 1998/99 was 12,283. In 2006/07 this figure had risen to 19,064, a 55% increase. In Newham in 1998/99 312 dwellings were completed rising to 471 in 2006/07 representing a 51% increase.

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Decent Housing

Non decent homes are those that fail to meet any of the following criteria: the current minimum standard for housing (the fitness standard), a reasonable state of repair, reasonably modern facilities and services, a reasonable degree of thermal comfort. Social sector housing includes local authority and RSL (housing association) owned dwellings. All counts are rounded to the nearest 1,000 dwellings.

It is not possible to produce aggregate data for areas larger than local authority districts because data on local authority-owned housing at district level does not include those authorities that have transferred housing stock. Therefore no data has been captured for London.

In Newham the percentage of Local Authority owned Non-decent dwellings has risen by 2 percentage points, from 48.6 % in 2003/04 to 50.5% in 2005/06.

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