As a landlord, whenever you are looking at houses for sale in Durham, you could find varying prices throughout an area like Birtley. 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 Birtley 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 Birtley will be revealed. Keep reading.
In general, for the city of Birtley, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Birtley, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Birtley.
Houses for sale, are sold on average in Birtley, after the influence of these factors, at £150,484 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 4% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£245,811|
|Aerage sold price (semi-detached)||£152,334|
|Aerage sold price (terraced)||£101,695|
|Aerage sold price (flat)||£76,865|
This table above shows the average sale price for each variation of houses for sale in Birtley.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,615|
|Aerage sold price/sqft (new build)||£2,000|
|Aerage sold price/sqft (old stock)||£1,500|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Birtley is £1,615.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What are the people like in Birtley?
Are the people in Birtley earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Birtley, the average income is £36,500. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 18% to decide on what the demographics are like in the area.
How deprived is the population of Birtley?
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 Birtley is 27% 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 does the population of Birtley 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 Birtley if 56,377 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 Birtley such as rental yield or house appreciation.
How has the population size of Birtley adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Birtley 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 Birtley?
In the last decade, the population of Birtley has been adjusted by 4%. 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 Birtley, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Durham for example.
These demographics for Birtley may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Birtley in North East.
Is the crime rate bad in the city of Birtley?
For the city of Birtley, crime rate is at 102. So for every 1000 people in the area, 102 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
In the city of Birtley, is there a lot of green space?
Whether you view green space in Birtley 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 Birtley, the number of acres of green space for every 1000 people currently is 15.4 which can be measured against the UK average of 1.7.
Is the education level of Birtley important when buying a house?
In Birtley, the proportion of people who have a degree is 22%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Birtley is £36,500.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
What’s a social grade score and how does it relate to Birtley?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Birtley in grades A or B which are the highest skilled roles in the country is 18%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £36,500 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 18%.
What is the asking price on average of houses for sale in Birtley?
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 Birtley is £164,070.
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 Birtley is useful when negotiating and knowing what to expect for every type of house for sale.
The average asking price for the houses for sale in the city of Birtley
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£108,141|
|Average asking price (3 bed)||£171,105|
|Average asking price (4 bed)||£299,047|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Birtley is £0. This should show you the general prices overall and for individual types of houses too.
Always consider average rental yield when searching for houses for sale in Birtley
Are there more or fewer houses being built in Birtley?
Before committing to Birtley 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|
|Birtley growth rate||-3%||3%||6%|
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 Birtley 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 Birtley.
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 (Durham) as well as the broader region; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Birtley||4.5%||£614||no relevant data for this city||18.5%|
Also, you can compare other data to the table above such as the number of houses sold per month in Birtley which is 42 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 Birtley is to invest in. Both in terms of rental yield and capital appreciation.