New Build Investor Guide – Sutton

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 the London borough of Sutton? 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 Sutton 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?

Sutton, London

Sutton is one of 20 outer London boroughs and is located in south London. Spanning nearly 17 square miles, it is the 14th largest London borough by area. South of the river Thames, it borders the county of Surrey, and the London boroughs Kingston upon Thames, Merton and Croydon. The main districts in Sutton include Carshalton, Cheam, Sutton and Worcester Park.

Demographics

Sutton’s population is forecast to grow by more than 7% by 2030

Population (2018) 207,378
Forecast Population 2030 222,186

Source: data.london.gov.uk

Economically Active Population

A largely young, diverse, mobile population.

Age Range Percentage of population
16 – 64 64%
Under 15 21%
Over 65 15%
Martial Status:  
Single 35%

Source: data.london.gov.uk

Average Life Expectancy

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

Males 81 (UK average is 79). Males born in Sutton have the 16th longest life expectancy of all London boroughs.
Females 84 (UK average is 83). Females born in Sutton have the 10th shortest life expectancy of all London boroughs.

Source: ons.gov.uk

Population Density (2011)

Sutton has 4,706 people per km2. Lower than the London average of 5,701 people per km2 and the 10th lowest density of all London boroughs.

Source: ons.gov.uk

International Migration (2018-19)

1,001 new residents from overseas moved to Sutton in 2018 -2019, the lowest number of new residents from overseas of all London boroughs.

Source: ons.gov.uk

Country of Birth

Location of Birth Proportion of Population
UK and Ireland 82%
EU 4%
Other countries 14%

Source: data.london.gov.uk

Crime & Safety

Crime Numbers (April 2017 – March 2018)   11,971
Crime rate per 1,000 population (April 2017 -March 2018) 59
Sutton has the 2nd lowest crime rate per 1,000 people of all London boroughs.  

Source: data.london.gov.uk

Education

Schools

Primary Schools 50 (12 of which have an Ofsted rating of outstanding)
Secondary Schools      24 (7 of which have an Ofsted rating of outstanding)
Schools and Colleges (16-18 years) 22 (7 of which have an Ofsted rating of outstanding)

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

Universities

None

Hospitals

St Helier
St Anthony’s Hospital
Royal Marsden Hospital – Sutton
Sutton Hospital

General Wellbeing

Population considering themselves in very good health 49%
Population considering themselves in very bad health less than 1%

Source: data.london.gov.uk

Employment & Economy

79% of working aged people employed (compared to 75% across England 74% across London).

Top 4 Sectors of Employment

Public administration, education and health  
Finance, banking and insurance 27%
Distribution, hotels and restaurants 13%
Transport and communications 10%

Source: data.london.gov.uk

Major Employers

In 2020, there were 25 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

Aproximately 38,225 residents of Sutton also work in the borough. 28,477 people travel into the borough each day for work and 52,076 residents work outside the borough. The daytime population of the borough therefore decreases by 23,599 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 Sutton 82,510

Source: data.london.gov.uk

Property Ownership (2018)

own property outright (no mortgage) 31%
own property with mortgage 39%
rent from a Housing Authority or the Local Authority 11%
rent from a private landlord (representing approximately 14,800 private rentals) 19%

Source: data.london.gov.uk

Households with no car or van (2011) 23%

Source: nomisweb.co.uk

Household Composition

One person households    30%
One family households     62%
Other  (sharers / students etc)   8%

Source: nomisweb.co.uk

Average House Prices

Average house prices in Sutton are the 4th cheapest of the 32 London boroughs.
 
Average achieved price January 2020 £371,413
Average achieved price January 2021 £385,231
Increase/Decrease  +3.7%

Source: www.gov.uk

Volume of Sales

During the COVID pandemic, the number of property transactions in the borough of Sutton fell by 25%. Only nine London boroughs saw greater falls in transaction volumes than Sutton.
 
Number of residential sales to year ending September 2019 2,553
Number of residential sales to year ending September 2020    1,923

Source: ons.gov.uk

Achieved Rents (January to December 2020)

Mean monthly average rents Sutton:

  London Median Rents
(per calendar month)
Sutton
(per calendar month)
Studio     £950 £775
1 bedroom £1,200 £925
2 bedrooms £1,450 £1,175
3 bedrooms £1,750 £1,500

Source: london.gov.uk

New Build Developments in Sutton

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

Construction PropTech Pioneer

New Mill Quarter (Barratt / David Wilson)

Total Number of properties 725 (575 private)
First launched May 2017

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Average Prices – New Mill Quarter

  Minimum Average Maximum
Price £282,955 £445,859 £659,995
Price per ft² £447 £541 £593
Area (ft²) 540 687 1,478

source: Molior

  Minimum Average Maximum
1 Bedroom £282,995 £331,355 £320,995
2 Bedroom £339,995 £3.68,143 £414,995
3 bedroom £539,995 £590,000 £634,995

source: Molior

Greenside Views (Sitac Developments)

Total Number of properties 48
First Launched December 2018

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Average Prices – Greenside Views

  Minimum Average Maximum
Price £250,000 £321,775 £430,000
Price per ft² £469 £504 £531
Area (ft²) 395 628 848

source: Molior

  Minimum Average Maximum
1 Bedroom £250,000 £287,200 £320,000
2 Bedroom £320,000 £333,750 £350,000
3 Bedroom £420,000 £427,500 £430,000

source: Molior

Arc (Parkside Property)

Total Number of apartments 20
First Launched January 2020

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Average Prices – Arc

  Minimum Average Maximum
Price £295,000 £419,667 £525,000
Price per ft² £559 £643 £813
Area (ft²) 399 665 937

source: Molior

  Minimum Average Maximum
1 Bedroom £295,000 £322,500 £340,000
2 Bedroom £365,000 £403,333 £460,000
3 Bedroom £500,000 £517,000 £525,000

source: Molior

Environment & Leisure

The borough has 89 parks and open spaces, covering an area of 2.3 square miles, this includes 11 nature reserves.

Facilities in the borough include:

5 leisure centres

8 libraries

2 Theatres

The main location for shopping in the borough is Sutton High Street.

Transport

Sutton’s overground and underground stations are in Zones 4 and 5

Overground Stations

Belmont Carshalton
Carshalton Beeches Cheam
Hackbridge Sutton (London)
Sutton Common Wallington
West Sutton

Underground Stations

There are no underground stations in Sutton.

Local Government

The Liberal Democrats

UK market report 1536x768 1 PropTech Pioneer