Bromley

London Borough of Bromley

Pros and ConsFind the details below (Summary of All Pros and Cons)

Pros and Cons

Location ValuationBased on future RealMy Core Engine of Growth Rating - to reveal the ward is currently undervalued / fairly valued / overvalued.

B+RealMy Overall Rating

Last rated: Quarter 2, 2020

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Summary

Boundary

Pros and Cons

Transport

C+

Safety

A-

School

B+

Neighbour

B+

Environment

A+

Living

B-

Potential for Property Price Growth

B

Potential Rental Return

B

ProsCons

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Real Estate

Potential for Property Price GrowthB

Potential for Property Price Growth is one of the two crucial considerations in investing properties. Location with a high rating on this usually has high potential of return in property price growth compared to other areas in London. A Ward with a higher RealMy Potential for Property Price Growth rating has – compared to other London Wards – stronger price growth momentum, higher demand, limited property supplies and a higher CAGR forecast.

A strong evidence for the property price to go up in the future

A weak evidence for the property price to go up in the future

Explain

In our research, we discover four core elements (Transport, School, Neighbour and Living) which we believe are pivotal to house price growth. The higher this rating, the greater the potentials in this location’s house price growth.

Core Engine of GrowthC

Core Engine of GrowthB

Core Engine of GrowthA

Core Engine of Growth
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Strong purchase demand for properties here

Weak purchase demand for properties here

Explain

The demand level of properties in this location, which includes successfully sold properties% and the length of time to sell a property. The higher the rating, the stronger the demand for properties in this location.

Property DemandC

Property DemandB

Property DemandA

Data
Advertised sold%Total number of properties sold as a % of total properties being advertised on the market.
Days before under offer (Sold)
Property Demand
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Properties for sales are of limited supply here

Properties for sales are of oversupply here

Explain

The supply of properties in this location, including turnover rate of sales% and number of new homes on the market. A high rating indicates a limited number of properties available on the market.

Limited Property SupplyC

Limited Property SupplyB

Limited Property SupplyA

Data
New build
Turnover for salesThe number of properties for sale (in last year) over the total number of properties.
Limited Property Supply
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Property prices are forecasted to increase significantly in the next decade

Property prices are forecased to change little in the next decade

Explain

The Compound Annual Growth Rate (CAGR) for a property forecasted in the next 10 years. The higher this rating, the higher the CAGR in this location.

House Prices CAGR ForecastC

House Prices CAGR ForecastB

House Prices CAGR ForecastA

Data
Forecast CAGR (Next 10 years)CAGR:Compound annual growth rate
Last year house price growth
CAGR (Past 10 years)CAGR:Compound annual growth rate
House Prices CAGR Forecast
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Summary of Pros and Cons

ProsCons

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Potential Rental ReturnB

Properties in a location with a high Potential Rental Return rating are more easily to be rent out. RealMy Potential Rental Return Ratings include 4 sub-ratings: Core Engine of Rental Market, Rental Yield, Rental Demand and Limited Supply of Rental Properties. A Ward with a higher RealMy Potential Rental Return rating has – compared to other London Wards – stronger rental growth momentum, higher rental yield, stronger rental demand and more less supply of rental properties.

Attractive to potential tenants

Not attractive to potential tenants

Explain

This is the fundamental of the prosperity of rental market in this location. We discover two core elements (Transport and Living) to this. The higher those ratings, the more prosperous the rental market in this location.

Core Engine of Rental MarketC

Core Engine of Rental MarketB

Core Engine of Rental MarketA

Core Engine of Rental Market
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A high rental yield

A low rental yield

Explain

This is calculated as the annual rental income divided by property value (sales price), expressed as a percentage. The higher the rating, the higher the rental yield.

Rental YieldC

Rental YieldB

Rental YieldA

Data
Rental yield%It is calculated as the 1 year rental income over the initial cost of buying the property.
Last year rental growth%
Rental Yield
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A high demand for rental properties

A low demand for rental properties

Explain

Rental demand is measured by successfully-let properties as a % of properties on the market, as well as the length of time taken to rent out a property. The higher the rating, the stronger the demand for property rent in this location.

Rental DemandC

Rental DemandB

Rental DemandA

Data
Advertised rentedPercentage of successfully let properties in the total let properties on the market.
Days before under offer (Rent)
Rental Demand
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Limited supply of To-Let properties

Oversupply of To-Let properties

Explain

This considers the turnover rate for renting and the number of new homes for rent on the market. The higher the rating, the more limited the supply.

Limited Supply of Rental PropertiesC

Limited Supply of Rental PropertiesB

Limited Supply of Rental PropertiesA

Data
New build
Turnover for rentalThe number of advertised properties to let (in last year) over the number of properties.
Limited Supply of Rental Properties
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Summary of Pros and Cons

ProsCons

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RealMy ValuationOur independent powerful property database generates unique Current MARKET VALUE data based on price per m² of different types of property.

£

££

Boost / Reduce"RealMy Overall Rating" and "Number of select type properties available on the market" are Boost/Reduce value factors. These are overlaid on the current market value to calculate the Range.RealMy Overall Rating:
This factor is considered as Boost (positive%) or Reduce (negative%) value to the property.
This type properties available on the market:
This factor is considered as Boost (positive%) or Reduce (negative%) value to the property.
Enter the gross internal floor area (m²) of the property (you may find this information on the floorplan).

Current market value:

£

|

Some possible reasons if the current asking price of the property is below the valuation range:

  • Retirement property, Cash buyer only or Shared Ownership property
  • Ex-council property
  • Property needs renovation
  • Low EPC rating
  • Very close to the noise source (e.g. close to railway or main road)
  • Property in the chain
  • Flat with a short lease (e.g. Less than 80 years)
  • Flat above a shop
  • House with a small garden

If none of these above applies, this property may be undervalued.

Some possible reasons if the current asking price is above the valuation range:

  • New Home
  • Luxury interior design
  • South-facing garden or river view
  • Flat with private garden
  • Freehold Flat or Flat with a share of freehold
  • House has a very large garden

If none of these above applies, this property may be overvalued.

1 Bed

Median Price
£275000
Median Price per m²
£6190
Properties available on the market
Few

2 Bed

Median Price
£375000
Median Price per m²
£5664
Properties available on the market
Average

3 Bed+

Median Price
£595000
Median Price per m²
£5286
Properties available on the market
Many

Flat

Median Price
£349995
Median Price per m²
£6096
Properties available on the market
Few

Terraced

Median Price
£450000
Median Price per m²
£5173
Properties available on the market
Average

Semi-detached

Median Price
£557500
Median Price per m²
£5238
Properties available on the market
Many

Detached

Median Price
£895000
Median Price per m²
£5592
Properties available on the market
Many

For Sale:

Median price

Total number of properties

For Rent:

Median price
Rental yield

TransportC+

Transport has been one of the most important considerations for renting. It is also a truth universally acknowledged that good transport links have a positive effect on house prices.
Transport is one of RC4.RealMy Core 4, aka RC4, are our most important factors impacting the house price growth.

Convenient to travel by public transport

Inconvenient to travel by public transport

Explain

PTAL hinges on the distance from any point to the nearest public transport stop, and service (e.g. train) frequency at those stops. It is essentially a way of measuring the density of public transport in a location.

PTALC

PTALB

PTALA

PTAL
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Less time to go to central London

Long time to go to central London

Explain

This simply means the length of time needed to travel to central London during peak time. The higher the rating, the relatively less the time needed to go to central London from here.

Less Travel TimeC

Less Travel TimeB

Less Travel TimeA

Data
Public travel timeTime taken to get to Central London during peak times by public transport (the fastest routes).
Driving timeTime taken to go to Central London by driving during peak time.
Less Travel Time
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Delay or/and ‘over-crowed situation’ happens less frequently

Delay or/and ‘over-crowed situation’ happens more frequently

Explain

This includes frequency of delay on the public transport and frequency of congestion on the road. The higher this rating, the better travel experience you would have.

Travel ExperienceC

Travel ExperienceB

Travel ExperienceA

Data
Delay by public transportPublic transport average delay minutes.
Traffic (Hours wasted)Extra time (per Month) caused by road congestion.
Crowd by public transportAverage millions passengers travelling by public transport from this area per year.
Travel Experience
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Cost a little to travel from this area

Cost relatively more to travel from this area

Explain

This score simply refers to the cost spent on travel, and it is arrived using the average figure of driving (Fuel) and taking public transport (Oyster card). A higher rating means a relatively less travel cost.

Low CostC

Low CostB

Low CostA

Data
Monthly public travel costCost per month travelling by public transport to central London.
Monthly petrol spendCost per month for petrol cost of driving to central London.
Low Cost
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Summary of Pros and Cons

ProsCons

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SafetyA-

Safety is a critical consideration of living in an area. RealMy Safety Ratings incorporate 4 sub-ratings: Crime Rate, Fire & Ambulance Incidents, Road Casualty and Anti-social behaviour.

Low crime rate in this area

High crime rate in this area

Explain

We consider these in assessing if an area has a low crime rate factor – violence against the person, sexual offences, robbery, burglary, and others. The higher the rating, the lower the crime rate.

Low Crime RateC

Low Crime RateB

Low Crime RateA

Data
Residential burglaryper thousand residents.
Violence against the personper thousand residents.
Low Crime Rate
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Little fire & ambulance incidents happened

A Lot of fire & ambulance incidents happened

Explain

This measures both the number of ambulance incidents (caused by assault) and fire incidents. The higher the rating, the less the number of both incidents.

Low Fire & Ambulance IncidentsC

Low Fire & Ambulance IncidentsB

Low Fire & Ambulance IncidentsA

Data
Fire incidentsTotal number of fires per thousand residents.
Ambulance incidentsThe number of assault incidents per thousand residents.
Low Fire & Ambulance Incidents
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Traffic accidents happen less frequently

Traffic accidents happen more frequently

Explain

This factor considers both the number and severity of casualties on the roads. The higher the rating, the less the number of casualties as well as the lower level of severity of these casualties on the roads.

Low Road CasualtyC

Low Road CasualtyB

Low Road CasualtyA

Low Road Casualty
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Low level of anti-social behaviours here

High level of anti-social behaviours here

Explain

Anti-social behaviour is virtually any intimidating or threatening activity that negatively affects the quality of life. The higher the rating, the less and less frequent the anti-social behaviours recorded in this area.

Less Anti-Social BehavioursC

Less Anti-Social BehavioursB

Less Anti-Social BehavioursA

Data
Anti-social behaviourper thousand residents.
Bicycle theftper thousand residents.
Less Anti-Social Behaviours
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Summary of Pros and Cons

ProsCons

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SchoolB+

School is a key factor for most families, as finding a ‘dream’ property is inextricably linked to the property’s proximity to a good school. People who are renting out their properties would also find that properties in a good catchment area are more attractive to potential tenants.
School is one of RC4.RealMy Core 4, aka RC4, are our most important factors impacting the house price growth.

Lots of excellent primary schools for choice here

Few excellent primary schools for choice here

Explain

Ratings measure the number of top-performing primary schools in school catchment areas. The higher the rating, the more high-achieving (Ofsted and KS2 results) primary schools are available in the catchment areas.

Primary SchoolC

Primary SchoolB

Primary SchoolA

League Table
Primary School in catchment
RankNameOfsted RatingKS2 High Score%Pupils achieving at a higher standard in reading, writing and maths (KS2)
1Lock Lock Lock Lock??%
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Data
Outstanding% primary school
Primary School% meet high KS2 Expected Standard"High" means at least 80% of pupils meet expected standard in reading, writing and maths.
Primary School% meet high KS2 Higher Standard"High" means at least 20% of pupils achieve at a higher standard in reading and maths and working at greater depth in writing.
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Lots of excellent secondary schools for choice here

Few excellent secondary schools for choice here

Explain

Ratings measure the number of top-performing secondary schools in school catchment areas. The higher the rating, the more high-achieving (Ofsted, KS4 & KS5 results) secondary schools are available in the catchment areas.

Secondary SchoolC

Secondary SchoolB

Secondary SchoolA

League Table
Secondary School in catchment
RankNameOfsted RatingA Level A*AB%Percentage of pupils achieving A*AB in A-Level exams
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Data
Outstanding% secondary school
Secondary School% achieve high GCSE A*A%"High" means at least 20% of students obtain A*A (and grade 7,8,9 for new standard) in GCSE exams.
Secondary School% achieve high A-level A*AB%"High" means at least 40% of students obtain A*AB in A-Level exams.
Secondary School
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Students have good academic performance

Students do not have good academic performance

Explain

This refers to the overall KS2, KS4 and KS5 results obtained by students who live in this location. The higher the rating, the higher the result obtained by students in this location.

Student PerformanceC

Student PerformanceB

Student PerformanceA

Data
Pupils% meeting KS2 Expected Standard
Pupils% achieving KS2 at a Higher Standard
Students% achieving A*A in GCSE exams
Students% achieving A*AB in A-Level exams
Student Performance
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Few children living here suffer from obesity

Many children living here suffer from obesity

Explain

This considers the percentage of child obesity among children under the age of 11 in this location. The higher the rating, the lower the percentage of obese children found at this location.

Children’s HealthC

Children’s HealthB

Children’s HealthA

Data
% obesity (Age 4-5 years)
% obesity (Age 10-11 years)
Children’s Health
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Summary of Pros and Cons

ProsCons

Other Info

Pupils% whose first language is not EnglishData NOT related to 'good' or 'bad'.
Pupils% eligible for free school mealsData NOT related to 'good' or 'bad'.

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Neighbour *B+

* RealMy Neighbour Rating is not equated to happiness, and only signifies the level of corresponding services and facilities available in a Ward due to groups of people gathering in this area. High RealMy Neighbour Rating indicates that if you have a higher income and qualification, you may feel more satisfied living here.

There are many areas in London where groups of people with similar background reside, and the community services in these areas have developed to serve the needs of those residents. If you are looking for places where you could live with a similar group of people, RealMy Neighbour rating does this for you.
Neighbour is one of RC4.RealMy Core 4, aka RC4, are our most important factors impacting the house price growth.

Neighbours found to be in high social classes

Neighbours not found to be in high social classes

Explain

It is simple – social grade refers to the socio-economic classification. The higher the rating, the higher the grade of the residents in this location.

Social GradeC

Social GradeB

Social GradeA

Data
AB social grade%
Social Grade
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Neighbours hold good academic qualifications

Neighbours do not hold good academic qualifications

Explain

This is the percentage of residents (over 16) who own higher education qualifications. The higher the rating, the higher the percentage of residents who have higher education qualifications living in this location.

QualificationC

QualificationB

QualificationA

Data
Level 4 qualification%Level 4 qualifications are similar in level to BTEC Professional Diplomas, Certificates and Awards, NVQs at Level 4, Key Skills Level 4 and Certificates of higher education.
Qualification
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High employment rate in this area

Low employment rate in this area

Explain

The higher the rating, the higher the employment rate found among residents living in this location.

EmploymentC

EmploymentB

EmploymentA

Data
Claim Jobseeker's Allowance%
Top 5 Resident Industry
Top 5 Resident Occupation
Employment
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Neighbours are at the high-income level

Neighbours are not at the high-income level

Explain

In simple terms, this factor considers the statistical median of household income in this location. The higher the rating, the higher the household income of residents in this location.

IncomeC

IncomeB

IncomeA

Data
Median annual household income
Income
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Other Info

Population
Mean age
Home owner%
Christain%
Married population%
Health(Very good%)
BAME%Black, Asian and Minority Ethnic population.
Ethnic groups

Summary of Pros and Cons

ProsCons

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EnvironmentA+

Environment is a key factor for health and happiness. RealMy Environment Rating incorporates 4 elements: Green Space, Crowdedness (population density), Air Quality and Quiet. An area with a higher RealMy Environment Rating indicates that, compared to other areas in London, this area has more green space, better air quality, less highway/airport/industrial noise, and that it is less ‘crowded’.

High % of green space here

Low % of green space here

Explain

This measures the percentage of green spaces (trees, parks, public open spaces, farmland etc.). The higher the rating, the higher the percentage of green spaces in this location.

Green SpaceC

Green SpaceB

Green SpaceA

Data
Green space%
Green Space
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Low population density in this area

High population density in this area

Explain

This indicates the density of population living in this area. A higher rating means a lower density of population.

UncrowdedC

UncrowdedB

UncrowdedA

Data
Population densityThousand residents per square kilometre.
Uncrowded
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Low level of air pollution in this area

High level of air pollution in this area

Explain

This component considers Nitrogen Dioxide (NO2), particle (PM10) and small particle (PM2.5).The higher the rating, the better the quality of air.

Air QualityC

Air QualityB

Air QualityA

Data
Nitrogen Dioxide (NO2)
Air Quality
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Low level of noise at the location

High level of noise at the location

Explain

Noise pollution in this location, including noise from roads, factories and planes. The higher the rating, the less the noise (thus quieter) in this location.

QuietC

QuietB

QuietA

Data
%Highway noise >60dB
%Industrial noise >60dB
%Airport noise >60dB
Quiet
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Summary of Pros and Cons

ProsCons

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LivingB-

Living rating is an indication of life convenience, thus a high Living rating is favourable for both renting and buying. RealMy Living Rating incorporates 4 elements: Internet Speed, Walkable Shops, Walkable Eateries and Walkable Services. An area with a higher RealMy Living Rating indicates that, compared to other areas in London, this area has faster internet speed, more walkable shops nearby and more walkable supermarkets, restaurants, pubs, banks, gyms as well as dentists.
Living is one of RC4.RealMy Core 4, aka RC4, are our most important factors impacting the house price growth.

Fast internet speed in this area

Slow internet speed in this area

Explain

This refers to internet connection, including download speed and availability of superfast & ultrafast broadband. The higher the rating, the better the internet experience in this location.

Internet SpeedC

Internet SpeedB

Internet SpeedA

Data
Ultrafast broadband%Percentage of premises that have Ultrafast Broadband (300Mbit/s or greater) coverage.
Internet Speed
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Many Shops within a short distance of walk

Few Shops within a short distance of walk

Explain

This is the convenience of walking to the closest shops (including furniture stores, electricals stores, clothes shops, household stores and etc.). The higher the rating, the more these shops within walkable distance in this location.

Walkable ShopsC

Walkable ShopsB

Walkable ShopsA

Data
#Walkable shopsTotal number of shops within 6 minutes of walk.
Walkable Shops
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Many supermarkets, restaurants and pubs nearby

Few supermarkets, restaurants and pubs nearby

Explain

This is the convenience of walking to the closest supermarkets, restaurants and pubs. The higher the rating, the more these eateries within walkable distance in this location.

Walkable EateriesC

Walkable EateriesB

Walkable EateriesA

Data
#Walkable local restaurantsTotal number of restaurants within 6 minutes of walk.
#Walkable local supermarketsTotal number of supermarkets within 6 minutes of walk.
#Walkable local pubsTotal number of pubs within 6 minutes of walk.
Walkable Eateries
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Many Banks, Gyms, Dentists and Post Offices within a short distance of walk

Few Banks, Gyms, Dentists and Post Offices within a short distance of walk

Explain

This indicates the convenience of living in an area, as well as the quantities of services (banks, dentists, gyms and post offices) within a walkable distance to residents. An area with a low rating implies a high hidden cost (both money and time) due to driving to the nearest services.

Walkable ServicesC

Walkable ServicesB

Walkable ServicesA

Data
#Walkable local banksTotal number of banks within 6 minutes of walk.
#Walkable local gymsTotal number of gyms within 6 minutes of walk.
#Walkable local dentistsTotal number of dentists within 6 minutes of walk.
Walkable Services
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Summary of Pros and Cons

ProsCons

Living - Better Choice

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Future

London Plan 2030

Transport Schemes

We consider those transport schemes with an expected completion date before 2030, which will have a significant impact on this Borough.

Plans that finish after 2030 will not be incorporated, e.g. Crossrail 2. We also exclude those that are not finalised yet, e.g. DLR extension from Gallions Reach to Thamesmead. Through the analysis of these future transport schemes, we are able to generate the estimate of the future travel time as well as RealMy Transport Rating - both severing as a good reference to living and investing.

Future transport schemes have little impact on this Borough.
??? Line
Proposed opening date by: ???
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Proposed opening date by:
Proposed opening date by:
Proposed opening date by:
Current
Public travel timeTime taken to get to Central London during peak times by public transport (the fastest routes).
56
PTAL RatingPTAL is essentially a way of measuring the density of public transport in a location.
C
Less Travel Time Rating
C+
Future 2030
Public travel timeTime taken to get to Central London during peak times by public transport (the fastest routes).
??
NO IMPACTPublic travel time to central London did not effect much by new transport scheme 2030
PTAL RatingPTAL is essentially a way of measuring the density of public transport in a location.
?
Less Travel Time Rating
?

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Location House Prices 2030

Brief explanation

Our database helps us analyse the London property market, and it is not surprising that London House prices distribution follows the power law distribution (Pareto distribution) model just like the wealth distribution. Even more exciting is that we have found the reverse order of our RealMy Core Engine of Growth Rating (also called RC4)* of each London Ward, together with the house prices they represent, also follows the power law distribution. We can employ this principle in valuing the location house prices, i.e. whether they are currently undervalued, fairly valued or overvalued.

*RC4 is RealMy Core Engine of Growth Rating, which combines RealMy Transport Rating, RealMy School Rating, RealMy Neighbour Rating and RealMy Living Rating (weighted differently).
Current
Average PriceAverage price of 1, 2 and 3 bed
£415000
CAGR (Past 10 years)*CAGR: Compound annual growth rate
5.7
Core Engine of Growth
B-
Future 2030
Average PriceAverage price of 1, 2 and 3 bed
£???,???
Forecast CAGR (Next 10 years)*CAGR: Compound annual growth rate
3.6
Core Engine of Growth
B
Based on future RealMy Core Engine of Growth Rating
This Ward is currently ?????????

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Trend Charts

Short-term:

Forecast is based on current properties demand and supply in this Ward.

Forecast

Next 3 years:

Forecast is based on London GVA (Gross Value Added) in the next three years.

Forecast