Unlocking Property Insights in Rainham: A Comprehensive Analysis

 

Are you seeking to delve into the vibrant property market of Rainham? Look no further! Let's embark on an insightful journey through the key metrics and trends shaping this dynamic locale.

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Key Statistics Rainham Property Market:

These key statistics provide a comprehensive snapshot of Rainham's property market, encompassing sales prices, rental trends, demographic insights, and the dynamic changes in average sales prices throughout the year.

• Total transactions in past 12 months: 546
• The average sales price for the past 12 months: £320,344
• 19% increase in average sales price over the last 5 years
• Rolling 12-month change in average sales prices compared to the previous period, ranging from 11.11% in January to -2.89% in December 2023
• Average monthly rent for homes let in the last 12 months: £1,175
• 6% increase in average rent in the last 12 months

Sales Market Insights:

In Rainham, the property market is thriving, with a diverse range of options catering to various preferences and budgets. In the past year, the average sales price stood impressively at £320,344, reflecting a notable 19% increase in the average sales price over the last five years. With a total of 546 transactions recorded, Rainham remains a bustling hub for property enthusiasts.

Property Types and Prices:

Diving deeper, let's explore the breakdown of property types and their respective prices. In the past year, houses commanded an average price of £339,895, while flats boasted an average price of £164,119. Notably, detached properties led the market with an average value of £523,215, followed by semi-detached homes at £344,029, and terraced houses at £286,542. These figures paint a vivid picture of the diverse housing landscape in Rainham.

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The average prices by property type in Rainham showcase the varying price points across different housing options. From flats/apartments at £164,119 to detached properties commanding £523,215, this data highlights the diverse range of property types and their respective average prices in Rainham.

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The average prices by bedrooms and property type in Rainham provide insights into the varying price ranges based on accommodation size and housing type. From studio flats at £128,809 to 3+ bed houses averaging £370,975, this data illustrates the diverse pricing landscape across different property configurations in Rainham.

Market Trends:

Over the past year, Rainham witnessed a total of 546 transactions, with houses dominating the market with 505 transactions, while flats accounted for the remaining 41. With a sales price of £363 per square foot, Rainham continues to be an attractive destination for property investors and homeowners alike.

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The data illustrates Rainham's property market performance in 2023, showing a consistent annual percentage change in average sales prices. The year witnessed a gradual decline from double-digit growth in the early months to a slight decrease by year-end, reflecting market adjustments and seasonal variations.

Partnering with Estate Agents in Rainham:

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For those eager to explore properties in Rainham further, partnering with reputable estate agents in Rainham is paramount. Quealy & Co. offers invaluable expertise and guidance, ensuring a seamless property buying or selling experience. By leveraging their local knowledge and extensive network, they can help you navigate the market with confidence.

Now let’s shift our focus to the Rental Market Insights,

Rental Market Insights:

Over the past year, the average monthly rent for homes let in Rainham was £1,175, marking a notable 6% increase compared to the previous 12 months. This upward trend underscores the desirability of Rainham as a rental destination.

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The annual percentage change in average rents for Rainham showcases a consistent trend of growth, ranging from 5.1% to 9.7% throughout the year. This data illustrates a sustained increase in rental prices, indicating a demand and market dynamics driving the rental sector in Rainham.

Property Types and Rental Rates:

Delving deeper into the rental landscape, we find that flats accounted for 30% of homes let in the past year, commanding an average rental value of £907 per month. On the other hand, houses achieved an average rent of £1,310 per month, catering to a diverse range of preferences and needs.

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The average rents by property type in Rainham showcase the varying rental rates across different housing options. From detached properties commanding £1,548 per month to flats averaging £918, this data highlights the diverse range of rental prices based on property type in Rainham over the past 12 months.

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Over the past year, average rents in Rainham have gone up by 6.1%, while over the last five years, they've increased by a considerable 35%. This means renting a place in Rainham has become more expensive, showing a trend of rising rental prices over time.

Demographic Insights:

Understanding the demographics of renters is crucial for landlords and property investors. In Rainham, 24% of renters fall within the age bracket of 25 to 29 years old, highlighting the appeal of this vibrant locale to young professionals and families alike. With an average renter age of 38, Rainham offers a diverse and inclusive community for residents to thrive.

Conclusion:

In conclusion, Rainham offers a wealth of opportunities in both the sales and rental markets, making it an ideal destination for property Buyers and investors alike. Whether you're looking to buy, sell, or rent, Rainham's diverse property landscape, coupled with the expertise of estate agents, ensures a seamless and rewarding experience for all.

For personalised assistance and expert guidance, visit the Rainham Office Page or Contact our estate agents 01634 973063.