What is it like buying a house in Fareham?

Fareham 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 Hampshire.
Before looking for a house for sale in the city of Fareham 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 Fareham.

What’s the rental yield in general for the city of Fareham?

Are there new houses being built in Fareham to make it grow?

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 Fareham at 1 year, 3 year and 5 year intervals:

	1 year	3 years	5 years
Fareham growth rate	4%	16%	20%

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 Fareham 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 Fareham.

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Fareham.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Hampshire) as well as the broader region; South East.

	Average Yield	Average Asking rent	Turnover (rental)	Turnover (sale)
Fareham	3.6%	£1,169	no relevant data for this city	22.0%
Hampshire	3.67%	£1,199	129.21%	20.71%
South East	3.58%	£1,301	127.50%	16.69%

Also, you can compare other data to the table above such as the number of houses sold per month in Fareham which is 73 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Fareham is to invest in. Both in terms of rental yield and capital appreciation.

Get professional help on the houses for sale in Fareham

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

Asking price in Fareham for a house for sale

Average price of houses for sale in Fareham

Average asking price (1 bed)	no relevant data for this city
Average asking price (2 bed)	£284,895
Average asking price (3 bed)	£375,492
Average asking price (4 bed)	£541,623
Average asking price (5 bed)	£728,235

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Fareham 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 £0 should also give you an overview of what the asking price for houses for sale are in general.

When investors make offers for houses for sale in Fareham, the average price asked by the homeowners works out to be £388,465.

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 Fareham 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.

houses for sale in other cities in the UK

Examine this short list of cities belonging to South East, the same region where Fareham is located.

• Bray in South East
• Hampden-Park in South East
• Bagshot in South East
• Beachampton in South East
• Grayshott in South East

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

In general, for the city of Fareham, what are the final purchase prices for the houses for sale?

In Fareham, the average sale price of a house for sale is in fact £302,012. This is dependent on the 10 year population growth of Fareham being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Fareham.

Housing category	Total final sale price
Aerage sold price (detached)	£416,804
Aerage sold price (semi-detached)	£289,489
Aerage sold price (terraced)	£254,162
Aerage sold price (flat)	£161,519

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Fareham.

Housing category	Sale price per square foot
Aerage sold price/sqft	£3,303
Aerage sold price/sqft (new build)	£3,467
Aerage sold price/sqft (old stock)	£3,197

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £3,303. This means if you are just looking out the houses sold in Fareham in general and didn’t take into consideration the type of build. For example, a new build.

What kind of demographics does the city of Fareham have?

In Fareham, what is the social grade score?

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 Fareham in grades A or B which are the highest skilled roles in the country is 28%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £51,400 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 28%.

Is the crime rate bad in the city of Fareham?

For the city of Fareham, crime rate is at 70. So for every 1000 people in the area, 70 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.

What salary does the community in Fareham 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 (28%). 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 Fareham, this works out to be £51,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In the city of Fareham, is there a lot of green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Fareham, the city has 8.6 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Fareham.

What is the education level like in Fareham?

In the city of Fareham, 28% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Fareham is £51,400. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

Fareham in the county of Hampshire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Fareham is located in; South East.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Fareham, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

What is the population of Fareham?

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 Fareham is 87,456.

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 Fareham.

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

In the last five years, over time, the change in population size was 1%. 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 Fareham 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 (1%) 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.

Fareham population difference over 10 years?

The population has adjusted in the area of Fareham 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 Fareham.

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.

Is the city of Fareham 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 Fareham, in particular, the deprivation levels are 18%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

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 Fareham.

• 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.