Property trends for PE38

The average property price of £290,000 sits below the national midpoint, placing it in the lower half of the market nationally. Over the past decade, prices have grown at 4.5% annually — a notably stronger performance than most of the UK, putting growth here in the upper tier nationally. Transaction activity has softened recently, with 248 sales in the latest full year compared to a 10-year average of 312, suggesting a modest slowdown in market turnover.

Average monthly rent of £912 is below the national average, reflecting the more affordable rental market typical of this region. Rental growth has been steady at 4.2% annually over the past decade, outpacing most other areas. The flat yield has expanded to 6.1%, up from a 10-year average of 5.0%, indicating improving returns for buy-to-let investors as rents have risen relative to purchase prices.

Average net household income of £35,342 sits below the national average, placing the area in the lower third nationally. The price-to-income ratio of 7.9x has worsened since 2016, when it stood at 6.1x, reflecting stronger price growth than income gains — a squeeze that affects first-time buyer affordability. Rental affordability has also tightened: the rent-to-income ratio has risen from 22.5% in 2016 to 24.7% today, though it remains manageable.

The population skews significantly older, with nearly 30% aged 65 and over — well above the national average of 19.6% — while those aged 16–24 are notably underrepresented at 7.6% against the national norm of 11%. Outright home ownership is substantially higher than average at 42.9%, reflecting the prevalence of older residents who own without mortgages. Employment is weighted towards trades (13%), elementary work (11.9%), and caring roles (10.4%), while professional occupations are underrepresented at 14.6%.