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A guide on houses for sale in Broomfield

by | Nov 15, 2022

Home $ House for sale in the UK $ A guide on houses for sale in Broomfield

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Broomfield, Somerset.

From the average asking price of houses for sale in Broomfield to the growth of the population in the area, all will be talked about regarding the city of Broomfield. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

Asking price in Broomfield for a house for sale

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Broomfield determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £387,697.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Broomfield.

Average asking prices for houses for sale in Broomfield

Average asking price (1 bed) £218,571
Average asking price (2 bed) £289,796
Average asking price (3 bed) £365,967
Average asking price (4 bed) £531,289
Average asking price (5 bed) £929,333

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£2,105) for houses for sale with this table to get a good idea as to whether Broomfield is the right area to buy a house in for you.

Why you should consider the average rental yield when searching for houses for sale in Broomfield

Is the housing market in Broomfield growing?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Broomfield at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Broomfield growth rate 3% 13% 22%

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Broomfield gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Broomfield.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Broomfield, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South West. As well as Somerset, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Broomfield 3.9% £1,244 140% 16.5%
Somerset 3.77% £1,175 138.81% 20.04%
South West 3.57% £1,079 132.66% 17.35%

Assuming that in the future you want to re-sell the house you will eventually purchased in Broomfield you might be interested in the number of sales per month (73) that happen in the local housing market. Comparing this figure for Broomfield with the above table gives you a good understanding of the profitability of the area.

In general, what do houses for sale sell for in Broomfield?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Broomfield. In Broomfield, this sale price works out to be £319,450. As an example, a factor like population growth over the last 10 years which works out to be 8% in Broomfield and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £438,294
Average sold price (semi-detached) £299,481
Average sold price (terraced) £257,643
Average sold price (flat) £169,340

Above, the exact type of house is also shown to vary in price in a table in Broomfield. 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 £3,180
Average sold price/sqft (new build) £3,075
Average sold price/sqft (old stock) £3,100

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 Broomfield which is £3,265. 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 are the people like in Broomfield?

The city of Broomfield, situated in Somerset, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Broomfield and its demographics will be compared to its wider location (South West). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Broomfield. So, taking a good look at the data is essential to understand the area you are considering to buy in.

How much green space is available to residents of Broomfield?

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Broomfield currently has 26.4 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Broomfield in this case.

What is the social grade score of Broomfield?

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 Broomfield in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £45,350 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 26%.

In the city of Broomfield, has the population grown or shrunk?

Population growth in Broomfield is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Broomfield, 72,887 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Broomfield in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Broomfield, this change has been 4%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 4%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Broomfield?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 8% in Broomfield.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

For the city of Broomfield, what is the education level?

In the city of Broomfield, 26% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Broomfield is £45,350.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

In Broomfield, what is the crime rate?

For every one thousand people living in Broomfield, 96 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 96 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 Broomfield, what are the deprivation levels like?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 22% for Broomfield should give you a nice idea of the deprivation in the area.

How much do people in Broomfield earn?

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 £45,350.

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 Broomfield this figure is 26%.

Get professional help on the houses for sale in Broomfield

A house for sale that is right 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 Broomfield.

  • 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.

House for sale in the same UK region

Below are a list of towns with a similar location to Broomfield.
Reading these analysis will help you evaluate the different houses for sale currently listed in South West:

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.

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

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