New Build Investor Guide – Newham

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 Brent? 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 Brent 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?

Newham, London

Newham is one of 20 outer London boroughs and is located in east London. Spanning nearly 14 square miles, the borough has a population of 353,245, the third highest of the London boroughs. Situated on the borders of inner and outer east London, it is 5 miles (8 km) east of the City of London, north of the River Thames. Newham was one of the six host boroughs for the 2012 Summer Olympics and contains most of the Olympic Park including the London Stadium.


Demographics

Newham’s population is forecast to grow by over 22% by 2030

Population (2018) 353,245
Forecast Population 2030 443,657

Source: data.london.gov.uk


Economically Active Population

A largely young, diverse, mobile population.

Age Range Percentage of population
16 – 64 70%
Under 15 23%
Over 65 7%
Martial Status:  
Single 40%

Source: data.london.gov.uk


Average Life Expectancy

The average life expectancies for those born in Newham between 2016 and 2018 are below.

Males 80 (UK average is 79). Males born in Newham have the 13th shortest life expectancy of all London boroughs.
Females 83 (UK average is 83). Females born in Newham have the 5th shortest life expectancy of all London boroughs.

Source: ons.gov.uk


Population Density (2011)

Newham has 9,756 people per km2. Higher than the London average of 5,701 people per km2 and the 10th highest density of all London boroughs.

Source: ons.gov.uk

International Migration (2018-19)

11,707 new residents from overseas moved to Newham in 2018 -2019. Three London borough’s welcomed more new residents from overseas than Newham.

Source: ons.gov.uk

Country of Birth

Location of Birth Proportion of Population
UK and Ireland 47%
EU 11%
Other countries 42%

Source: data.london.gov.uk

Crime & Safety

Crime Numbers (April 2017 – March 2018)   33,758
Crime rate per 1,000 population (April 2017 -March 2018) 99
Newham has the 4th highest crime rate per 1,000 people of all London boroughs.  

Source: data.london.gov.uk


Education

Schools

Primary Schools 87 (25 of which have an Ofsted rating of outstanding)
Secondary Schools      31 (9 of which have an Ofsted rating of outstanding)
Schools and Colleges (16-18 years) 15 (7 of which have an Ofsted rating of outstanding)

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


Universities

University of East London

Hospitals

Newham University Hospital
Gateway Surgical Centre

General Wellbeing

Population considering themselves in very good health 49%
Population considering themselves in very bad health 2%

Source: data.london.gov.uk


Employment & Economy

69% 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 25%
Finance, banking and insurance 21%
Transport and communications 11%

Source: data.london.gov.uk


Major Employers

In 2020, there were 35 companies in the borough employing more than 250 people and 85 companies employing between 50 and 249 people. (source: nomisweb.co.uk).

Jobs and Job density

Approximately 31,322 residents of Newham also work in the borough. 35,873 people travel into the borough each day for work and 55,001 residents work outside the borough. The daytime population of the borough therefore decreases by 19,128 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 Newham 112,560

Source: data.london.gov.uk


Property Ownership (2018)

own property outright (no mortgage) 12.2%
own property with mortgage 22.6%
rent from a Housing Authority or the Local Authority 26.5%
rent from a private landlord (representing approximately 43,400 private rentals) 38.7%

Source: data.london.gov.uk

Households with no car or van (2011) 52%

Source: nomisweb.co.uk


Household Composition

One person households    26.1%
One family households     48.5%
Other  (sharers / students etc)   25.4%

Source: nomisweb.co.uk


Average House Prices

Average house prices in Newham are the 3rd cheapest of the 32 London boroughs.

Average achieved price January 2020 £365,657
Average achieved price January 2021 £378,023
Increase/Decrease  +3.4%

Source: www.gov.uk


Volume of Sales

During the COVID pandemic, the number of property transactions in the borough of Newham fell by 52%. Only the City of London saw larger falls in transaction volumes than Newham.

Number of residential sales to year ending September 2019 2,283
Number of residential sales to year ending September 2020    1,344

Source: ons.gov.uk


Achieved Rents (January to December 2020)

  London Median Rents
(per calendar month)
Newham
(per calendar month)
Studio     £950 £1,161
1 bedroom £1,200 £1,175
2 bedrooms £1,450 £1,450
3 bedrooms £1,750 £1,700

Source: london.gov.uk


New Build Developments in Newham

There are fifteen large new build developments in Newham with apartments currently available for sale. Average asking prices for three of these developments are set out below.

Construction PropTech Pioneer

Royal Wharf – Phase 3 (Ballymore / Oxley)

Total Number of properties 326
First launched May 2016

Visit Website


Average Prices – Royal Wharf

  Minimum Average Maximum
Price £335,000 £577,400 £955,000
Price per ft² £479 £746 £923
Area (ft²) 457 780 1630

source: Molior

  Minimum Average Maximum
Studio £335,000 £370,425 £335,000
1 Bedroom £405,000 £435,724 £405,000
2 Bedroom £570,000 £644,533 £570,000
3 Bedroom £614,250 £798,032 £614,250

source: Molior


Royal Eden Docks (Mount Anvil)

Total Number of properties 854 (626 private)
First Launched September 2019

Visit Website


Average Prices – Royal Eden Docks

  Minimum Average Maximum
Price £417,000 £428,500 £727,000
Price per ft² £518 £793 £904
Area (ft²) 549 719 1,390

source: Molior

  Minimum Average Maximum
Studio £417,000 £428,500 £440,000
1 Bedroom £470,000 £502,308 £518,500
2 Bedroom £590,000 £636,000 £679,000
3 Bedroom £678,000 £708,333 £727,000

source: Molior


Twelve Trees Park (Berkeley)

Total Number of apartments 3,810 (2,466 private)
First Launched February 2020

Visit Website


Average Price – Twelve Trees Park

  Minimum Average Maximum
Price £385,000 £698,125 £935,000
Price per ft² £795 £907 £1,056
Area (ft²) 476 707 1,018

source: Molior

  Minimum Average Maximum
Studio £385,000 £450,833 £502,500
1 Bedroom £535,000 £581,000 £605,000
2 Bedroom £735,000 £795,000 £855,000
3 Bedroom £875,000 £905,000 £935,000

source: Molior


Environment & Leisure

Sport within the Borough of Newham:

The Borough of Newham also has:

Transport

Newham’s overground and underground stations are in Zones 2, 3 and 4.

Overground Stations

Stratford Station Wanstead Park
Woodgrange Park  

Underground Stations

Canning Town (Jubilee line) East Ham (District and Hammersmith & City lines)
Plaistow (District and Hammersmith & City lines) Stratford (Jubilee & Central lines)
Upton Park (District and Hammersmith & City lines) West Ham (Jubilee, District and Hammersmith & City lines)

Local Government

The Labour Party

UK market report 1536x768 2 PropTech Pioneer