As a landlord, whenever you are looking at houses for sale in Essex, you could find varying prices throughout an area like Basildon. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Basildon to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Basildon will be revealed. Keep reading.
In Basildon, what are the rental yields?
In Basildon, how has the number of houses changed?
Before committing to Basildon 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 | |
|---|---|---|---|
| Basildon growth rate | 4% | 13% | 21% |
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 Basildon is building housing to find your answer.
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Basildon.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Essex) as well as the broader region; East of England.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Basildon | 3.3% | £1,247 | 132% | 22.4% |
| Essex | 3.51% | £1,237 | 125.97% | 17.61% |
| East of England | 3.49% | £1,148 | 126.76% | 16.58% |
Also, you can compare other data to the table above such as the number of houses sold per month in Basildon which is 159 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Basildon is to invest in. Both in terms of rental yield and capital appreciation.
What is the final sale price of a house in Basildon?
In Basildon, the average sale price of a house for sale is in fact £346,059. This is dependent on the 10 year population growth of Basildon being 8%. Growing populations are more likely to inflate the prices of houses for sale in the city of Basildon.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £496,469 |
| Aerage sold price (semi-detached) | £350,110 |
| Aerage sold price (terraced) | £287,540 |
| Aerage sold price (flat) | £197,425 |
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 Basildon.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,719 |
| Aerage sold price/sqft (new build) | £4,066 |
| Aerage sold price/sqft (old stock) | £3,603 |
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 £3,806. This means if you are just looking out the houses sold in Basildon in general and didn’t take into consideration the type of build. For example, a new build.
What kind of demographics does the city of Basildon have?
How educated are the people in Basildon?
Interestingly, the percentage of people who have a degree in the city of Basildon is 19%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Basildon is £44,863.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
Basildon in the county of Essex is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Basildon is located in; East of England.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Basildon, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
What is a social grade score and how does this relate to Basildon?
In the city of Basildon, the social grade score of the area is 20%. 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 Basildon.
| 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 are those living in Basildon earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Basildon. Compare the area’s average household income of £44,863 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 20% for more conclusive data on the affluence of the area.
In the city of Basildon, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Basildon if 179,535 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Basildon such as rental yield or house appreciation.
How has the population size of Basildon adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Basildon by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Basildon?
In the last decade, the population of Basildon has been adjusted by 8%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
In the city of Basildon, how much green space remains for residents?
Whether you view green space in Basildon as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Basildon, the number of acres of green space for every 1000 people currently is 14.6 which can be measured against the UK average of 1.7.
Are the deprivation levels of the UK any different to Basildon?
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 Basildon is 25% 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’s the crime rate in Basildon?
For every one thousand people living in Basildon, 132 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 132 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In Basildon, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of Basildon
| Average asking price (1 bed) | £209,555 |
| Average asking price (2 bed) | £333,042 |
| Average asking price (3 bed) | £408,533 |
| Average asking price (4 bed) | £585,479 |
| Average asking price (5 bed) | £1,085,278 |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Basildon and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £1,189 should also give you an overview of what the asking price for houses for sale are in general.
When investors make offers for houses for sale in Basildon, the average price asked by the homeowners works out to be £430,155.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Basildon is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Professional advice for houses for sale in Basildon
A house for sale that is right for you
When browsing houses for sale in Basildon you should think about lots of different criteria:
- House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
- Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
- House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
- Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
- energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
- Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
- Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
- Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
- Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Other cities you can consider looking for with houses for sale
Below are a list of towns with a similar location to Basildon.
Reading these analysis will help you evaluate the different houses for sale currently listed in East of England:
- All-Saints-South-Elmham in East of England
- Southchurch in East of England
- Ashwell in East of England
- Chapmore-End in East of England
- Church-End in East of England
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.
Here is a list of who to contact to get assistance when purchasing a house for sale:
- Banks – The ones that can lend you the money you need for the house for sale
- Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
- Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
- Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
- Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
- EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.
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