Broomfield might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Somerset.
Before looking for a house for sale in the city of Broomfield we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Broomfield.
In general, what do houses for sale sell for in Broomfield?
As well as looking at the asking price for house for sale in Broomfield, 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 Broomfield.
Houses for sale, are sold on average in Broomfield, after the influence of these factors, at £319,450 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 8% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £438,294 |
| Aerage sold price (semi-detached) | £299,481 |
| Aerage sold price (terraced) | £257,643 |
| Aerage sold price (flat) | £169,340 |
This table above shows the average sale price for each variation of houses for sale in Broomfield.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,180 |
| Aerage sold price/sqft (new build) | £3,075 |
| Aerage sold price/sqft (old stock) | £3,100 |
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 Broomfield is £3,265.
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’s the rental yield in general for the city of 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.
Are there new houses being built in Broomfield to make it grow?
Whenever you are thinking about looking for houses for sale in Broomfield, 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 | |
|---|---|---|---|
| Broomfield growth rate | 3% | 13% | 22% |
As the population of Broomfield 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.
Who can help you buy a house for sale in Broomfield?
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Are you considering other cities with houses for sale?
If you are looking for similar places to buy a house that are just like Broomfield, examine this short list of cities below from outside of the region of South West for some inspiration.
- Milton Keynes in South West
- Bodelwyddan in South West
- Bean in South West
- Cliff End in South West
- Bagillt in South West
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
A house for sale appropriate to your needs
When browsing houses for sale in Broomfield you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
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House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
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Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
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energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
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Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
What is the asking price on average of houses for sale in Broomfield?
When investors make offers for houses for sale in Broomfield, the average price asked by the homeowners works out to be £387,697.
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 Broomfield 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.
Average prices for the 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 |
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.
Are there any important statistics about the population of Broomfield?
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%.
Is the education level of Broomfield important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 26%. The ability to buy a home is greatly influenced by the number of people who have degrees. £45,350 is the amount people in Broomfield 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 Broomfield, 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.
What is a social grade score and how does this relate to Broomfield?
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 Broomfield 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 Broomfield, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 26%.
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 |
Do the people of Broomfield get to enjoy green space?
In the city of Broomfield, there are 26.4 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 Broomfield is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Are the people of Broomfield deprived?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Broomfield, in particular, the deprivation levels are 22%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
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 does the population of Broomfield look like?
In total, the number of people in Broomfield is 72,887. 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 Broomfield, depending on where exactly you are.
How has Broomfield 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 Broomfield has changed by 4%. 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 4% 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 Broomfield?
8% 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 Broomfield 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.
In Broomfield, what is the crime rate?
Within Broomfield, the number of people committing crimes is 96 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 96 figure carefully.
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