New Build Investor Guide – Barking and Dagenham

May 2021

Buying a new build property off plan? Check out our Area Guide first

Are you considering purchasing a new build, off plan property in Barking and Dagenham? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?

Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.

Read on for investor details specifically about Barking and Dagenham but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:

1 Is investing in UK residential property still worth it?

2 If so, where are the best opportunities for property investors and why?

Barking and Dagenham, London

Barking and Dagenham is one of 20 outer London boroughs and is located in east London. Spanning nearly 14 square miles, it is the second smallest outer London borough by area. The borough is north of the river Thames and borders the River, Havering, Redbridge and Newham. It includes the districts Barking, Becontree, Dagenham and more. Aproximately 2 square miles are designated as green belt.


Demographics

Barking and Dagenham’s population is forecast to grow by nearly 23% by 2030

Population (2018) 212,773
Forecast Population 2030 260,560

Source: data.london.gov.uk

Economically Active Population

A largely young, diverse, mobile population.

Age Range Percentage of population
16 – 64 62%
Under 15 29%
Over 65 9%
Martial Status:  
Single 39%

Source: data.london.gov.uk

Average Life Expectancy

The average life expectancy for those born in Barking and Dagenham between 2016 and 2018 are below. Life expectancy in the borough is the lowest of all London borough’s for both males and females.

Males 78 (UK average is 79)
Females 83 (UK average is 83)

Source: ons.gov.uk

Population Density (2011)

Barking and Dagenham has 5,898 people per km2. Slightly higher than the London average of 5,701 people per km2.

Source: ons.gov.uk

International Migration (2018-19)

3,760 new residents from overseas, the 10th lowest of all London boroughs.

Source: ons.gov.uk

Country of Birth

Location of Birth Proportion of Population
UK and Ireland 70%
EU 7%
Other countries 23%

Source: data.london.gov.uk

Crime & Safety

Crime Numbers (April 2017 – March 2018)   18,262
Crime rate per 1,000 population (April 2017 -March 2018) 89
Barking and Dagenham has the 16th highest crime rate per 1,000 people of all London boroughs.  

Source: data.london.gov.uk

Education

Schools

Primary Schools 57 (8 of which have an Ofsted rating of outstanding)
Secondary Schools      20 (2 of which have an Ofsted rating of outstanding)
Schools and Colleges (16-18 years) 17 (2 of which have an Ofsted rating of outstanding)

Source: compare-school-performance.service.gov.uk

Universities

Coventry University Group – Dagenham Campus

Hospitals

Barking Hospital

General Wellbeing

Population considering themselves in very good health 47%
Population considering themselves in very bad health 1%

Source: data.london.gov.uk

Employment & Economy

68% of working aged people employed (compared to 75% across England 74% across London).

Top 4 Sectors of Employment

Public administration, education and health    25%
Distribution, hotels and restaurants 24%
Finance, banking and insurance 16%
Construction 10%

Source: data.london.gov.uk

Major Employers

In 2020, there were 10 companies in the borough employing more than 250 people and 50 companies employing between 50 and 249 people. (source: nomisweb.co.uk)

Jobs and Job density

Aproximately 24,444 residents of Barking and Dagenham also work in the borough. 27,804 people travel into the borough each day for work and 47,3902 residents work outside the borough. The daytime population of the borough therefore decreases by 13,586 people each day. (source: data.london.gov.uk).

Median Gross Annual Pay for full-time employee jobs (2017) £31,365
Number of jobs in the borough (2019)            92,000
Jobs per resident        0.49 (London average 1.03 and UK average 0.87)

Source: nomisweb.co.uk and data.london.gov.uk

Housing

Number of residential properties in Barking and Dagenham 74,610

Source: data.london.gov.uk

Property Ownership (2018)

own property outright (no mortgage) 20%
own property with mortgage 32%
rent from a Housing Authority or the Local Authority 29%
rent from a private landlord (representing approximately 13,200 private rentals) 19%

Source: data.london.gov.uk

Household with no car or van (2011) 40%

Source: nomisweb.co.uk

Household Composition  

One person households    28%
One family households     60%
Other  (sharers / students etc)   12%

Source: nomisweb.co.uk

Average House Prices

House prices in Barking and Dagenham are the cheapest of all London boroughs.

Average achieved price January 2020 £303,087
Average achieved price January 2021 £316,257
Increase/Decrease  +4%

Source: www.gov.uk

Volume of Sales

During the COVID pandemic, the number of property transactions fell by 30%.

Number of residential sales to year ending September 2019 1,610
Number of residential sales to year ending September 2020    1,131

Source: ons.gov.uk

Achieved Rents (January to December 2020)

Mean monthly average rents in the borough:

  London Median Rents
(per calendar month)
Barking and Dagenham
(per calendar month)
Studio     £950 £800
1 bedroom £1,200 £1,000
2 bedrooms £1,450 £1,200
3 bedrooms £1,750 £1,400

Source: london.gov.uk

New Build Developments in Barking and Dagenham

Just three new build large developments in Barking and Dagenham are currently available for sale.

Construction PropTech Pioneer

Bream Park (Countryside / L&Q)

Total Number of Apartments 2,900 (1,812 private)
First Launched May 2019

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Average Prices – Bream Park

  Minimum Average Maximum
Price £235,000 £379,697 £545,000
Price per ft² £361 £456 £545
Area (ft²) 541 856 1,442

source: Molior 

  Minimum Average Maximum
1 Bedroom £235,000 £276,875 £295,000
2 Bedroom £335,000 £355,357 £380,000
3 Bedroom £420,000 £428,000 £440,000

source: Molior

Fresh Wharf (Countryside)

Total Number of Apartments 531
First Launched October 2019

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Average Prices – Fresh Wharf

  Minimum Average Maximum
Price £299,000 £378,360 £455,000
Price per ft² £500 £564 £655
Area (ft²) 547 676 803

source: Molior

  Minimum Average Maximum
1 Bedroom £299,000 £337,900 £370,000
2 Bedroom £390,000 £408,571 £455,000

source: Molior

Abbey Quay (Weston Homes)

Total Number of Apartments 12,189 (737 private)
First Launched April 2021

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Average Prices – Abbey Quay

  Minimum Average Maximum
Price £299,000 £399,319 £452,700
Price per ft² £445 £539 £607
Area (ft²) 547 747 1,001

source: Molior

  Minimum Average Maximum
1 Bedroom £299,000 £327,417 £338,500
2 Bedroom £394,500 £417,783 £437,600
3 Bedroom £445,000 £448,850 £452,700

source: Molior

Environment & Leisure

Barking and Dagenham is home to:

Eastbrookend Country Park and Dagenham Washlands – the largest nature reserve managed by the London Wildlife Trust
Over 100 local sports clubs
8 Leisure Centres
12 parks and 12 open spaces
6 locations with football pitches
Several places for permitted fishing
6 libraries

Transport

Barking and Dagenham’s overground and underground stations are in Zones 4 and 5 .

Overground Stations

Barking Dagenham Dock

Underground Stations

Barking (District and Hammersmith & City lines) Becontree (District line)
Dagenham East (District line) Dagenham Heathway (District line)
Upney (District line)  

Local Government

The Labour Party

UK market report 1536x768 1 PropTech Pioneer