New Build Investor Guide – Bexley
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 Bexley? 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 Bexley 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?
Bexley, London
Bexley is one of 20 outer London boroughs and is located in south east London. Spanning over 23 square miles, it is the 7th largest borough by area. The borough is south of the river Thames and borders the county of Kent to the south, the river Thames to the north and the London boroughs of Greenwich and Bromley. It includes the districts Thamesmead East, Sidcup, Erith and Bexleyheath. It is within the Thames Gateway, which is an area earmarked as being a priority for regeneration.
Demographics
Bexley’s population is forecast to grow by nearly 11% by 2030
| Population (2018) | 249,099 |
| Forecast Population 2030 | 276 493 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 63% |
| Under 15 | 21% |
| Over 65 | 16% |
| Martial Status: | |
| Single | 34% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Bexley between 2016 and 2018 are below.
| Males | 80 (UK average is 79). Males in Bexley have the 25th longest life expectancy of all London boroughs. |
| Females | 84 (UK average is 83). Females in Bexley have the 19th longest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Bexley has 4,099 people per km2. Lower than the London average of 5,701 people per km2 and the 6th lowest density of all London boroughs.
Source: ons.gov.uk
International Migration (2018-19)
1,171 new residents from overseas moved to Bexley in 2018 -2019. The second lowest of all London boroughs.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 87% |
| EU | 3% |
| Other countries | 10% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 14,517 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 59 |
| Bexley has the 3rd lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 73 (10 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 23 (3 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 19 (3 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
None
Hospitals
Erith and District Hospital
Queen Mary’s Hospital
General Wellbeing
| Population considering themselves in very good health | 48% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
76% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Public administration, education and health | 30% |
| Finance, banking and insurance | 23% |
| Distribution, hotels and restaurants | 16% |
| Construction | 10% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 20 companies in the borough employing more than 250 people and 10 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 41,218 residents of Bexley also work in the borough. 26,239 people travel into the borough each day for work and 62,403 residents work outside the borough. The daytime population of the borough therefore decreases by 36,164 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 Bexley | 97,850 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 35% |
| own property with mortgage | 39% |
| rent from a Housing Authority or the Local Authority | 13% |
| rent from a private landlord (representing approximately 12,400 private rentals) | 13% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 24% |
Source: nomisweb.co.uk
Household Composition
| One person households | 28% |
| One family households | 65% |
| Other (sharers / students etc) | 7% |
Source: nomisweb.co.uk
Average House Prices
Average house prices in Bexley are the 2nd cheapest of all London boroughs and rose by nearly 7% between January 2020 and January 2021.
| Average achieved price January 2020 | £336,664 |
| Average achieved price January 2021 | £359,197 |
| Increase/Decrease | +6.7% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 18%, the 9th largest fall of all London boroughs.
| Number of residential sales to year ending September 2019 | 2,980 |
| Number of residential sales to year ending September 2020 | 2,454 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Bexley (per calendar month) |
|
| Studio | £950 | £700 |
| 1 bedroom | £1,200 | £850 |
| 2 bedrooms | £1,450 | £1,100 |
| 3 bedrooms | £1,750 | £1,300 |
Source: london.gov.uk
New Build Developments in Bexley
There are only three large new build apartment developments in Bexley currently available for sale.
Eastside Quarter (Bellway)
| Total Number of Apartments | 518 (408 private) |
| First launched | May 2019 |
Average Prices – Eastside Quarter
| Minimum | Average | Maximum | |
| Price | £219,995 | £321,104 | £421,995 |
| Price per ft² | £427 | £487 | £562 |
| Area (ft²) | 429 | 672 | 940 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £219,995 | £220,495 | £220,995 |
| 1 Bedroom | £273,995 | £284,633 | £303,995 |
| 2 Bedroom | £354,995 | £370,870 | £413,995 |
| 3 Bedroom | £400,995 | £408,439 | £421,995 |
source: Molior
Abbey Wood – Southmere Village – (Peabody)
| Total Number of Apartments | 525 (290 private) |
| First Launched | February 2021 |
Average Prices – Abbey Wood – Southmere Village
| Minimum | Average | Maximum | |
| Price | £299,000 | £411,687 | £558,900 |
| Price per ft² | £499 | £542 | £581 |
| Area (ft²) | 549 | 762 | 1,066 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £299,000 | £319,800 | £345,800 |
| 2 Bedroom | £429,900 | £456,860 | £498,200 |
| 3 Bedroom | £542,700 | £550,800 | £558,900 |
source: Molior
Boomtown (HWDW)
| Total Number of Apartments | 27 |
| First Launched | October 2020 |
Average Prices – Boomtown
| Minimum | Average | Maximum | |
| Price | £250,000 | £298,333 | £455,000 |
| Price per ft² | £389 | £563 | £702 |
| Area (ft²) | 388 | 558 | 1,130 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £250,000 | £264,615 | £320,000 |
| 2 Bedroom | £320,000 | £348,333 | £380,000 |
| 3 Bedroom | £440,000 | £442,500 | £445,000 |
source: Molior
Environment & Leisure
Bexley has over 4 square miles of greenbelt land and is home to:
Over 100 parks and open spaces
3 leisure centres
12 libraries
Transport
Bexley’s overground stations are in Zones 4, 5 and 6 .
Overground Stations
| Abbey Wood | Albany Park |
| Barnehurst | BelvedereBarnet |
| Bexley | Bexleyheath |
| Crayford | Erith |
| Falconwood | Sidcup |
| Slade Green | Welling |
Underground Stations
There are no underground stations in the London Borough of Bexley
Local Government
The Conservative Party
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