Whenever looking for a house for sale in the UK or in Blackpool, it is vital you look at the market trends and house price fluctuations in the wider area of Lancashire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Blackpool.
In this article, we will be looking at the city of Blackpool in detail so you know how to navigate the area and have a better understanding on where to invest.
In general, for the city of Blackpool, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Blackpool. In Blackpool, this sale price works out to be £115,561. As an example, a factor like population growth over the last 10 years which works out to be -2% in Blackpool and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£207,958|
|Average sold price (semi-detached)||£128,086|
|Average sold price (terraced)||£92,644|
|Average sold price (flat)||£66,129|
Above, the exact type of house is also shown to vary in price in a table in Blackpool. 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||£1,230|
|Average sold price/sqft (new build)||£1,843|
|Average sold price/sqft (old stock)||£1,173|
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 Blackpool which is £1,267. 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.
Why you should consider the average rental yield when searching for houses for sale in Blackpool
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 Blackpool.
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 (Lancashire) as well as the broader region; North West.
|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 Blackpool which is 120 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 Blackpool is to invest in. Both in terms of rental yield and capital appreciation.
Are there new houses being built in Blackpool to make it grow?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Blackpool that shows the growth in recent years.
|1 year||3 years||5 years|
|Blackpool growth rate||2%||13%||14%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Blackpool is important.
In Blackpool, what is the asking price in general for a house for sale?
When investors make offers for houses for sale in Blackpool, the average price asked by the homeowners works out to be £136,546.
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 Blackpool 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.
The average asking price for the houses for sale in the city of Blackpool
|Average asking price (1 bed)||£72,561|
|Average asking price (2 bed)||£102,916|
|Average asking price (3 bed)||£139,413|
|Average asking price (4 bed)||£236,185|
|Average asking price (5 bed)||no relevant data for this city|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £547. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Blackpool has a lack of supply of housing in certain categories.
What are the people like in Blackpool?
In Blackpool, how educated are people in general?
The number of people as a percentage who have been through university and gained a degree is 15%. The ability to buy a home is greatly influenced by the number of people who have degrees. £30,467 is the amount people in Blackpool 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 Blackpool, 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.
In the city of Blackpool, 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 Lancashire for example.
These demographics for Blackpool 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 Blackpool in North West.
In the city of Blackpool, is there a lot of green space?
Whether you view green space in Blackpool 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 Blackpool, the number of acres of green space for every 1000 people currently is 10.0 which can be measured against the UK average of 1.7.
What is the city of Blackpool’s social grade score?
In the city of Blackpool, the social grade score of the area is 10%. 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 Blackpool.
|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|
In Blackpool, how has the population changed?
In total, the number of people in Blackpool is 109,057. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Blackpool, depending on where exactly you are.
How has Blackpool changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Blackpool has changed by -1%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if -1% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Blackpool?
-2% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Blackpool have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
What salary does the community in Blackpool 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 £30,467.
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 Blackpool this figure is 10%.
Is the crime rate bad in the city of Blackpool?
The crime rate of Blackpool 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 280, 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 (280) is both useful and is recommended to be compared to the average.
Is the city of Blackpool deprived?
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 Blackpool is 39% 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.
Invest in houses for sale in Blackpool with the right professional advice
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in North West, the same UK region of Blackpool that can help you evaluate the different houses for sale listed in the region:
- Greasby in North West
- Askam-In-Furness in North West
- Ordsall in North West
- Applethwaite in North West
- Caldy in North West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Blackpool.
Here below are the most important ones according to Lofti’s expertise:
Affordability – (see what house for sale can you afford?)
A guide from the UK government
House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.