As a landlord, whenever you are looking at houses for sale in North Yorkshire, you could find varying prices throughout an area like Bilton. 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 Bilton 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 Bilton will be revealed. Keep reading.
What is the asking price on average of houses for sale in Bilton?
Average prices for the houses for sale in Bilton
|Average asking price (1 bed)||£163,971|
|Average asking price (2 bed)||£244,653|
|Average asking price (3 bed)||£327,885|
|Average asking price (4 bed)||£522,016|
|Average asking price (5 bed)||£787,410|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Bilton is £3,213. This should show you the general prices overall and for individual types of houses too.
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 Bilton is £339,976.
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 Bilton is useful when negotiating and knowing what to expect for every type of house for sale.
In general, what do houses for sale sell for in Bilton?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Bilton. In Bilton, this sale price works out to be £285,665. As an example, a factor like population growth over the last 10 years which works out to be 6% in Bilton and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£452,762|
|Average sold price (semi-detached)||£260,902|
|Average sold price (terraced)||£225,076|
|Average sold price (flat)||£181,356|
Above, the exact type of house is also shown to vary in price in a table in Bilton. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,860|
|Average sold price/sqft (new build)||£3,267|
|Average sold price/sqft (old stock)||£2,757|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Bilton which is £3,037. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
What kind of demographics does the city of Bilton have?
What does the population of Bilton look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bilton if 103278 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 Bilton such as rental yield or house appreciation.
How has the population size of Bilton adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Bilton 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 Bilton?
In the last decade, the population of Bilton has been adjusted by 6%. 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.
What salary does the community in Bilton take home?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £45,000.00.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Bilton this figure is 29%.
How deprived is the population of Bilton?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Bilton, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Do the people of Bilton get to enjoy green space?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Bilton, the city has 10 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Bilton.
How educated are the people in Bilton?
The number of people as a percentage who have been through university and gained a degree is 32%. The ability to buy a home is greatly influenced by the number of people who have degrees. £45,000.00 is the amount people in Bilton are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Bilton, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
Bilton in the county of North Yorkshire 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 Bilton is located in; North East.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Bilton, 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’s crime like in Bilton?
For every one thousand people living in Bilton, 8567% 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 8567% 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.
What is a social grade score and how does this relate to Bilton?
In the city of Bilton and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Bilton has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 29%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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|
Are you considering other cities with houses for sale?
You can consult our list below that goes over a list of cities not necessarily in North East, allowing you to find similar places to Bilton:
- aberdeen in North East
- bonehill in North East
- chalgrove in North East
- adeney in North East
- flackwell-heath in North East
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
Finding the ideal house for sale for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Bilton.
- Affordability – check this article from the UK government to find out (see what house for sale you can afford)
- Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
- Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
- Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
- EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
- Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
- Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
- Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Invest in houses for sale in Bilton with the right professional advice
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Always consider average rental yield when searching for houses for sale in Bilton
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. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.
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 into all the details of Bilton.
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 (North Yorkshire) as well as the broader region; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Also, you can compare other data to the table above such as the number of houses sold per month in Bilton which is 20 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 Bilton is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Bilton?
Before committing to Bilton 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|
|Bilton growth rate||1%||11%||15%|
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 Bilton is building housing to find your answer.