The demographics of Woolwich’s population

Woolwich is a historic town located in the south-east of London. It has a rich military history and is known for its vibrant community and cultural diversity. In this blog post, we will explore some of the most important factors to consider when investing in a buy-to-let property in Woolwich.

Population size and growth:

Woolwich has a population of approximately 79,000 people, and this number is growing. The population of Woolwich has increased by around 4% over the last decade, which is slightly higher than the average growth rate for London boroughs. This growth can be attributed to the increasing popularity of the area, which is due to its affordability, excellent transport links, and attractive local amenities.

Age of the population:

The average age of the population in Woolwich is 32 years old, which is much younger than the average in the UK. This can be attributed to the growing student population in the area, as well as the number of young professionals who are attracted to the area. The youthfulness of the population is reflected in the vibrant and dynamic community of Woolwich.

Employment rate:

The employment rate in Woolwich is 70%, which is slightly lower than the national average of 75%. This can be attributed to the growing number of businesses and job opportunities in the area, which has led to an increase in the demand for housing. Woolwich is home to a number of major employers, including the Royal Arsenal, the Woolwich Centre, and the University of Greenwich.

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Education level:

The education level of the population in Woolwich is comparable to the national average, with around 47% of the population holding a degree-level qualification or higher. Woolwich is home to a number of primary and secondary schools, as well as the nearby University of Greenwich, which has attracted a number of students to the area. 

Volume of renters versus homeowners:

Woolwich has a higher proportion of renters than homeowners, with around 56% of the population living in rented accommodation. This is higher than the national average of 49%. The high demand for rental properties in the area can be attributed to the growing student population and the increasing number of young professionals who are choosing to live in the area.

Crime rate:

The crime rate in Woolwich is comparable to the national average, with a crime rate of around 80 crimes per 1,000 people. While crime is an unfortunate reality in any area, the overall crime rate in Woolwich is relatively low compared to other areas in London. The area benefits from a strong police presence and a vibrant and active community.

In conclusion, Woolwich is an area with a growing population, a youthful community, and a strong employment rate. The education level is comparable to the national average, with a growing student population and the presence of the University of Greenwich. The high proportion of renters in the area reflects the increasing demand for rental properties, making it an attractive location for buy-to-let investors. The crime rate in the area is relatively low, which is reassuring for both residents and investors. Overall, Woolwich is an area that offers a wealth of opportunities for buy-to-let investors, making it an excellent choice for those looking to invest in London’s property market.

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