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How much does a house for sale cost in Broomfield?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much does a house for sale cost in Broomfield?

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Whenever looking for a house for sale in the UK or in Broomfield, it is vital you look at the market trends and house price fluctuations in the wider area of Somerset 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 Broomfield.

In this article, we will be looking at the city of Broomfield in detail so you know how to navigate the area and have a better understanding on where to invest.

House for sale in a different UK region

We have prepared a list of cities that are entirely dissimilar to the region of South West, perfect if you are looking for somewhere similar to Broomfield but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.

In Broomfield, what do houses for sale tend to sell for?

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.

Advice from experts on properties for sale in Broomfield

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

What kind of demographics does the city of Broomfield have?

Located in Somerset is the city of Broomfield, in a large part of the UK; South West. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Broomfield has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Broomfield which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What salary does the community in Broomfield take home?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (26%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Broomfield, this works out to be £45,350.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

What is the social grade score of Broomfield?

In the city of Broomfield, the social grade score of the area is 26%. 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 Broomfield.

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

Is the education level of Broomfield important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Broomfield is 26%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Broomfield is £45,350.00.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

Is the crime rate bad in the city of Broomfield?

For the city of Broomfield, crime rate is at 9600%. So for every 1000 people in the area, 9600% 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 Broomfield, how much green space remains for residents?

Whether you view green space in Broomfield 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 Broomfield, the number of acres of green space for every 1000 people currently is 26 which can be measured against the UK average of 1.7.

Are the deprivation levels of the UK any different to Broomfield?

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 Broomfield is £0.

What does the population of Broomfield look like?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Broomfield is 72887.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Broomfield.

In Broomfield, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 4%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Broomfield is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (4%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Broomfield population difference over 10 years?

The population has adjusted in the area of Broomfield by 8% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Broomfield.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

On average, what is the figure for the asking price of a house for sale in Broomfield?

On average, in Broomfield, the asking price for a house for sale in the area is £387,697.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Broomfield. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

In the city of Broomfield, what is the average asking price for the houses for sale?

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

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Broomfield 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 £2,105 should also give you an overview of what the asking price for houses for sale are in general.

In Broomfield, what are the rental yields?

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 £0 £1,244 £1 £0
Somerset 3.77% £1,174.60 138.81% 20.04%
South West 0.04 1,078.69 £1 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 (53) 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.

Are there more or fewer houses being built in Broomfield?

The growth of an area like Broomfield can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

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

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Broomfield if you want to find out the exact reasons for the housing change.

Invest in a house for sale that meets your demands

What parameters impact the final price of a house for sale in Broomfield?
Here below is our list with the most important ones:

  • House for sale affordability – check out the (see house affordability guide)

    on the UK gov website to know more

  • House Location – the actual location of a house for sale drastically changes the final price of a property

  • Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

  • Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

  • Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

  • Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

  • Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

  • Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

  • Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

F.A.Q.

Are there opportunities for property renovation in Broomfield?

Amidst the urban landscape of Broomfield, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 44 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (72887).

How many property sales occur per month in Broomfield?

In the city of Broomfield, there are 53 and in the total for the UK, there are around 1.1 million property sales.

What is the population change each year in a city like Broomfield?

Calculating the evolution of Broomfield’s population requires an examination of the population transformation over a decade, amounting to 8%, and the five-year adjustment at 4%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

What are the asking rates for houses for sale in the surrounding area of Broomfield?

Currently, the mean asking price of a house in Broomfield is £2,105, calculated using the average value per square foot

Is investing in a house for sale in Broomfield a financially demanding choice?

Calculate if a property is on the pricier side by matching a listed house for sale against the mean selling prices. In Broomfield, this value is £319,450, compared to the UK’s average of £286,500.

Buying a Home? Find Top-Rated Estate Agents in Broomfield

If you’re purchasing property in Broomfield? The right estate agent can make all the difference in guiding you through the home buying process. We understand how stressful and time-consuming finding an agent can be so we’ve compiled a list of the highest-rated real estate agencies in the area below. Our goal is to simplify your search and take you straight to reputable agents equipped to help buy your ideal home.

Name of the Agent Phone Number Address Email Address
Owen Lyons 441245256666 15 Duke Street Clare Harris (clare@owenlyons.co.uk);Martin Orchard (martin@owenlyons.co.uk)
Charles David Casson 441245835859 36 BROOMFIELD RD Peachies Deevy (peachies@charlesdavidcasson.co.uk);Neil Baldock (neil@charlesdavidcasson.co.uk)
First Choice Letting & Management Services nan 52 Railway Street nan
Adrians (Essex) 441245845383 16 Duke Street, Chelmsford, CM1 1UP Phone number only
Leonard Gray Estate Agents 441245679842 72-74 Duke Street, Chelmsford,, CM1 1JY Phone number only

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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