Silvertown

Area Guide For Silvertown

Silvertown is an industrialised district on the north bank of the Thames in the London Borough of Newham. All of Silvertown was severely damaged by bombing in World War II; at the time the central suffered the worst damage losing what seemed like almost all the population making it an abandoned community. Silvertown and the neighboring suburb of North Woolwich developed during the second half of the nineteenth century. Before that time it had been marshland, subject to flooding at high tide. In the 1840s, however, a railway line was built across it to connect to the ferry that crossed the Thames at North Woolwich. The area acquired additional significance in 1844 when the Metropolitan Building Act was passed. The Act banned toxic industries within most of the area covered by London at that time, but Silvertown was just outside the restricted area.

 
 

Silvertown Map

Estimated Price: £381,974
Average Asking Price: £423,947
Price change in last one year: £46,475
Average Price Paid: £257,756
Average Rent Rates: £1,613

 
 

Property Prices Breakdown in Silvertown

Average Price for property in Silvertown is around £381,974 which varies based on type of property you are interested in and ranges from £466,747 for detached house to around £349,619 for semi-detached. Similarly terraced house is around £342,705 and a flat is worth £389,185. Values have been changing and have risen £4,561 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £10,146 in last 6 months, £46,475 in last 1 year, £78,506 in last 2 years, £89,620 in last 3 years, £89,689 in last 4 years and £97,257 in last 5 years.

Currently average asking price of a property in Silvertown is around £423,947 based on approximately 143 properties for sale. Same is the case with rental options based on 141 properties up for rent, average asking rent is around £1,613 per month.

Estimated property value in Silvertown is £381,974. Average asking price is £423,947 while average price paid is £265,862 which is up by £46,475 and Avg. asking rent £1,613.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Silvertown area. In last 1 year alone average price buyer paid is around £265,862 based on approximately 143 sales in Silvertown area alone. If you compare it to last 3 years sales of 361 properties where buyers paid around £261,779. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £257,756 for 576 and average amount paid for purchase of approx. 778 properties sold in last 7 years comes to about £262,656 per sale.

 
 

Properties For Sale in Silvertown

 
 

Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £275,000, £376,665 for a 2 bedroom house, £537,500 for a 3 bedroom house, £840,082 for a 4 bedroom house and £465,000 for a 5 bedroom house. For a flat similarly the prices varies from £352,962 for a single bedroom to £402,675 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £685,834. To sum up the asking prices for properties in Silvertown it comes to around average £351,229 for 1 bedroom property, £401,687 for 2 bedroom, £657,124 for 3 bedroom, £840,082 for 4 bedroom and £465,000 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £1,018 for 1 bedroom to £1,950 for 2 bedrooms, £1,699 for 3 bedrooms, £1,842 for 4 bedrooms and £2,058 for 5 bedrooms house. But if you are interested in renting a 1 bedroom flat then rent per month can be around £1,183. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £1,501 and £2,714 for 3 bedroom. You should be generally be expecting around average £1,177 rent per month for single bedroom property, £1,508 for 2 bedroom, £2,447 for 3 bedroom, £1,842 for 4 bedroom and approximately £2,058 for a 5 bedroom property in Silvertown area.

Popular Houses in Silvertown

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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