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What is it like buying a house in Brookfield?

by | Nov 15, 2022

Home $ House for sale in the UK $ What is it like buying a house in Brookfield?

Brookfield 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 Brookfield.

On top of this, keep reading for detailed information on the demographics of Brookfield in Lancashire. 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’s the rental yield in general for the city of Brookfield?

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Brookfield. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Brookfield.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Lancashire), a regional level (North West) and finally on the level of the city talked about in this article, Brookfield.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Brookfield 5.0% £782 122% 45.5%
Lancashire 4.25% £691 100.27% 17.49%
North West 4.36% £808 120.36% 20.19%

You may also find it useful to compare the data above to the number of properties sold per month Brookfield experiences. This figure for house sales per month is 95. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Are there more or fewer houses being built in Brookfield?

Whenever you are thinking about looking for houses for sale in Brookfield, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Brookfield growth rate 32% 11% 19%

As the population of Brookfield grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

In Brookfield, what are the demographics like?

In the city of Brookfield, 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 Brookfield 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 Brookfield in North West.

How much are those living in Brookfield earning?

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 Brookfield, the average income is £38,600. 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 21% to decide on what the demographics are like in the area.

In Brookfield, how educated are people in general?

In Brookfield, the proportion of people who have a degree is 24%. 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 Brookfield is £38,600.

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.

How deprived is the population of Brookfield?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Brookfield is 28%.

In the city of Brookfield, how much green space remains for residents?

In the city of Brookfield, there are 14.2 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 Brookfield is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What does the population of Brookfield 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 Brookfield if 100,087 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 Brookfield such as rental yield or house appreciation.

How has the population size of Brookfield adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Brookfield 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 Brookfield?

In the last decade, the population of Brookfield 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.

Is the crime rate bad in the city of Brookfield?

The crime rate of Brookfield 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 141, 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 (141) is both useful and is recommended to be compared to the average.

In Brookfield, what is the social grade score?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Brookfield compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Brookfield, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 21%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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 Brookfield, what do houses for sale tend to sell for?

As well as looking at the asking price for house for sale in Brookfield, 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 Brookfield.

Houses for sale, are sold on average in Brookfield, after the influence of these factors, at £144,090 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) £257,006
Aerage sold price (semi-detached) £164,817
Aerage sold price (terraced) £104,753
Aerage sold price (flat) £69,603

This table above shows the average sale price for each variation of houses for sale in Brookfield.

Housing category Sale price per square foot
Aerage sold price/sqft £1,625
Aerage sold price/sqft (new build) £1,890
Aerage sold price/sqft (old stock) £1,590

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 Brookfield is £1,695.

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 is the asking price on average of houses for sale in Brookfield?

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 Brookfield is £156,464.

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 Brookfield is useful when negotiating and knowing what to expect for every type of house for sale.

Average price of houses for sale in Brookfield

Average asking price (1 bed) £73,021
Average asking price (2 bed) £117,299
Average asking price (3 bed) £169,168
Average asking price (4 bed) £319,981
Average asking price (5 bed) £493,457

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Brookfield 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 £1,005 should also give you an overview of what the asking price for houses for sale are in general.

Who can help you buy a house for sale in Brookfield?

A house for sale appropriate to your needs

Many criteria impact the price of houses for sale in Brookfield.
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.

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

House for sale in the same UK region

See here below a list of cities in the same UK region of Brookfield which is North West. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

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