Barry Island can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Barry Island.
On top of this, keep reading for detailed information on the demographics of Barry Island in Glamorgan. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
What kind of demographics does the city of Barry Island have?
Do the people of Barry Island get to enjoy green space?
In the city of Barry Island, there are 17.3 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Barry Island is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Barry Island within Glamorgan is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Barry Island will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Wales). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Barry Island.
What does the population of Barry Island look like?
The city of Barry Island has a total population of 41,719. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Barry Island is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Barry Island
Over time, in the last five years, the population of the city of Barry Island has changed by 6%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 6% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Barry Island?
In the last 10 years, there has been a shift in the population of 7%.
Comparing this to the 5 year figure of Barry Island can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
In general, do people commit a lot of crime in Barry Island?
The crime rate of Barry Island must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 89, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (89) is both useful and is recommended to be compared to the average.
How deprived is the population of Barry Island?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Barry Island is 28% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
What is the city of Barry Island’s social grade score?
In the city of Barry Island, the social grade score of the area is 17%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Barry Island.
|Social Score||Category||The proportion of the UK population (%)|
|A||Professional, managerial or administrative||4|
|B||Intermediate managerial or professional jobs||23|
|C1||Supervisory, junior managerial or professional jobs||29|
|C2||Skilled manual workers||21|
|D||Semi and unskilled manual workers||15|
|E||State pensioners, casual & lowest grade workers||8|
How much do people in Barry Island earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (17%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Barry Island, this works out to be £41,200. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In Barry Island, how educated are people in general?
In the city of Barry Island, 22% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Barry Island is £41,200.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Always consider average rental yield when searching for houses for sale in Barry Island
Are there more or fewer houses being built in Barry Island?
Before committing to Barry Island to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Barry Island growth rate||-2%||18%||28%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Barry Island is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Barry Island to Glamorgan and the broader suburb of the UK; Wales.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Barry Island for profit in the future, in this case, looking at the data for the number of houses sold per month in Barry Island would give you an idea of whether the area is actively getting new investors. This figure is 34.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Barry Island. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What is the final sale price of a house in Barry Island?
In Barry Island, the average sale price of a house for sale is in fact £205,839. This is dependent on the 10 year population growth of Barry Island being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Barry Island.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£285,691|
|Aerage sold price (semi-detached)||£192,891|
|Aerage sold price (terraced)||£170,302|
|Aerage sold price (flat)||£119,225|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Barry Island.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,140|
|Aerage sold price/sqft (new build)||£2,190|
|Aerage sold price/sqft (old stock)||£1,970|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,140. This means if you are just looking out the houses sold in Barry Island in general and didn’t take into consideration the type of build. For example, a new build.
What are the asking prices for the houses for sale in the city of Barry Island?
The average asking price for the houses for sale in the city of Barry Island
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£200,780|
|Average asking price (3 bed)||£277,343|
|Average asking price (4 bed)||£387,708|
|Average asking price (5 bed)||£524,608|
After looking at this table about prices of houses for sale in Barry Island, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Barry Island is £290,353.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Barry Island is useful when negotiating and knowing what to expect for every type of house for sale.