Jun 20, 2022 by HM
House prices in Wanstead (E11 2)
This article reveals price per square metre data and various charts to help you understand current housing market in Wanstead (E11 2).
Price per square metre
Knowing the average house price in Wanstead is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:
£ per sqm = price ÷ internal areaE.g. 49, Chestnut Drive, Wanstead, London, sold for £830,000 on Apr-2022. Given the internal area of 115 square metres, the price per sqm is £7,217.
England & Wales have been officially metric for many decades. However house price per square foot is sometimes prefered by those of sufficiently advanced age. They may want to convert metres on this page to square feet.
The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £6,500-£7,000, £7,000-£7,500, £7,500-£8,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 270 sales in Wanstead (E11 2) that took place in the last two years.
Distribution of £ per sqm for Wanstead (E11 2)
You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.
That said, the spread of prices will give you a feel of the typical range to expect in Wanstead (E11 2). Of the 270 transactions, half were sold for between £6,030 and £8,190 per square metre. Notably, only 25% of properties that sold recently were valued at more than £8,190m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.
For the average, we calculate the 'median' or middle price. The median price per square metre in 'E11 2' is £7,170. The table below shows how 'E11 2' compares to neighbouring postcode sectors.
|Postcode sector||Lower quartile||Middle quartile||Upper quartile|
|E11 2 Wanstead||£6,030m2||£7,170m2||£8,190m2|
|E11 3 Leytonstone||£5,530m2||£6,250m2||£7,150m2|
|E11 1 Leytonstone||£5,530m2||£6,260m2||£7,180m2|
|E11 4 Leytonstone||£5,510m2||£6,450m2||£7,430m2|
Will Wanstead house prices drop in 2022?
We cannot tell the future and don't believe anyone who says they can. We can however plot price trends - we have done this in the scatter plot below for E11 2 (Wanstead). From this one could infer a range of reasonable possible future price falls or rises. In the chart below, the red dashed line is the house price trend for E11 2 and the blue dots are the individual property sales that inform this trend.
Price per square metre in Wanstead (E11 2) over time
Click on any blue dot to see details of specific sales
Disclaimer: The data provided throughout this website about Wanstead and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information. Furthermore, we cannot guarantee the accuracy of any data shown. This information is based on sold prices and internal area data provided by Land Registry and other third parties - we do not verify the accuracy of the Wanstead data or any other data we are given.
Street level data
|Street||Avg size||Avg £/m2||Recent sales|
|Cowley Road, Wanstead, E11 2H||82m2||£8,587||22|
|Cambridge Road, Wanstead, E11 2P||72m2||£5,034||22|
|Halstead Road, Wanstead, E11 2A||85m2||£8,590||21|
|Grosvenor Road, Wanstead, E11 2E||72m2||£7,238||20|
|Hermon Hill, Wanstead, E11 2A||60m2||£7,321||18|
|Wellesley Road, Wanstead, E11 2H||93m2||£7,948||16|
|Gardner Close, Wanstead, E11 2H||75m2||£4,870||14|
|Cambridge Park, Wanstead, E11 2U||47m2||£4,466||13|
Search for your street here.
Our analysis of Wanstead is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.
|49, Chestnut Drive, Wanstead, London|| £830,000
|8, Raynes Avenue, Wanstead, London|| £1,300,000
|30, Chester Rd, Wanstead, London|| £757,500
HouseMetric is a hobby, created out of a desire to see data and analysis not present on any free to use website. It is still a work in progress and I'll add more stuff in the near future.