As a landlord, whenever you are looking at houses for sale in West Midlands, you could find varying prices throughout an area like Dudley. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Dudley to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Dudley will be revealed. Keep reading.
Professional advice for houses for sale in Dudley
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 are the demographics like in the city of Dudley?
What is a social grade score and how does this relate to Dudley?
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 Dudley in grades A or B which are the highest skilled roles in the country is 20%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £38,740 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 20%.
Is the city of Dudley deprived?
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 29% for Dudley should give you a nice idea of the deprivation in the area.
How much do people in Dudley earn?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Dudley. Compare the area’s average household income of £38,740 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 20% for more conclusive data on the affluence of the area.
In general, do people commit a lot of crime in Dudley?
For every one thousand people living in Dudley, 109 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 109 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.
What is the education level like in Dudley?
In the city of Dudley, 21% 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 Dudley is £38,740.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Dudley within West Midlands is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Dudley will be looked at by comparing it to the local region, as well as comparing it to the wider region too (West Midlands). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Dudley.
In the city of Dudley, has the population grown or shrunk?
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 Dudley is 148,264.
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 Dudley.
In Dudley, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 2%. 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 Dudley 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 (2%) 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.
Dudley population difference over 10 years?
The population has adjusted in the area of Dudley by 4% 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 Dudley.
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.
In the city of Dudley, is there a lot of green space?
Whether you view green space in Dudley 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 Dudley, the number of acres of green space for every 1000 people currently is 19.3 which can be measured against the UK average of 1.7.
Invest in a house for sale that meets your demands
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Dudley
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.
In Dudley, 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 Dudley. In Dudley, this sale price works out to be £210,995. As an example, a factor like population growth over the last 10 years which works out to be 4% in Dudley and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£307,546|
|Average sold price (semi-detached)||£185,657|
|Average sold price (terraced)||£156,764|
|Average sold price (flat)||£112,609|
Above, the exact type of house is also shown to vary in price in a table in Dudley. 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||£2,266|
|Average sold price/sqft (new build)||£2,410|
|Average sold price/sqft (old stock)||£2,114|
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 Dudley which is £2,266. 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.
Asking price in Dudley for a house for sale
Average prices for the houses for sale in Dudley
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£190,172|
|Average asking price (3 bed)||£267,646|
|Average asking price (4 bed)||£420,983|
|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 £0. 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 Dudley has a lack of supply of housing in certain categories.
When investors make offers for houses for sale in Dudley, the average price asked by the homeowners works out to be £274,800.
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 Dudley 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.
In Dudley, what are the rental yields?
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 Dudley. 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 Dudley.
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 (West Midlands), a regional level (West Midlands) and finally on the level of the city talked about in this article, Dudley.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Dudley experiences. This figure for house sales per month is 106. 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.
What is the growth in the housing market of Dudley?
The growth of an area like Dudley 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|
|Dudley growth rate||5%||22%||32%|
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 Dudley if you want to find out the exact reasons for the housing change.
houses for sale in other cities and regions in the UK
If you are looking for similar places to buy a house that are just like Dudley, examine this short list of cities below from outside of the region of West Midlands for some inspiration.
- Bar Hill in West Midlands
- Lea Bridge in West Midlands
- Collingtree in West Midlands
- Wolferlow in West Midlands
- Abercastle in West Midlands
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.