Hull 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 East Riding of Yorkshire.
Before looking for a house for sale in the city of Hull 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 Hull.
In Hull, 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 Hull. In Hull, this sale price works out to be £157,128. As an example, a factor like population growth over the last 10 years which works out to be 2% in Hull and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £244,389 |
| Average sold price (semi-detached) | £156,420 |
| Average sold price (terraced) | £125,990 |
| Average sold price (flat) | £95,722 |
Above, the exact type of house is also shown to vary in price in a table in Hull. 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 | £1,686 |
| Average sold price/sqft (new build) | £1,699 |
| Average sold price/sqft (old stock) | £1,581 |
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 Hull which is £1,724. 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 kind of demographics does the city of Hull have?
In Hull, what is the crime rate?
In Hull, for every 1000 people, there is currently a crime rate of 154. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (154 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
What is the city of Hull’s 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 Hull in grades A or B which are the highest skilled roles in the country is 18%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £36,147 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 18%.
Is there sufficient green space in Hull?
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 Hull currently has 9.9 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 Hull in this case.
Are the people in Hull earning a lot?
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 (18%). 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 Hull, this works out to be £36,147. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
The city of Hull, situated in East Riding of Yorkshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Hull and its demographics will be compared to its wider location (North East). 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 Hull. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What does the population of Hull look like?
In total, the number of people in Hull is 407,923. 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 Hull, depending on where exactly you are.
How has Hull 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 Hull has changed by 1%. 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 1% 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 Hull?
2% 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 Hull 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.
How deprived is the population of Hull?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Hull is 28% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
Is the education level of Hull important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Hull is 21%. 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 Hull is £36,147.
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.
What’s the rental yield in general for the city of Hull?
Are there new houses being built in Hull 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 Hull at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Hull growth rate | -1% | 9% | 13% |
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 Hull 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 Hull.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Hull to East Riding of Yorkshire and the broader suburb of the UK; North East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Hull | 4.6% | £635 | 121% | 20.3% |
| East Riding of Yorkshire | 4.47% | £653 | 122.00% | 19.86% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Let’s assume you want to sell the house you’re looking to buy in Hull for profit in the future, in this case, looking at the data for the number of houses sold per month in Hull would give you an idea of whether the area is actively getting new investors. This figure is 333.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Hull. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
On average, what is the figure for the asking price of a house for sale in Hull?
When speaking about the city of Hull, £187,451 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Hull.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
In the city of Hull, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £99,813 |
| Average asking price (2 bed) | £135,326 |
| Average asking price (3 bed) | £191,305 |
| Average asking price (4 bed) | £328,433 |
| Average asking price (5 bed) | £430,898 |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Hull 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 £437 should also give you an overview of what the asking price for houses for sale are in general.
Get professional help on the houses for sale in Hull
A house for sale appropriate to your needs
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 Hull.
- 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.
Are you considering other cities with houses for sale?
Examine this short list of cities belonging to North East, the same region where Hull is located.
- Middridge in North East
- Ainthorpe in North East
- Carrville in North East
- Battersby in North East
- Crigglestone in North 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 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
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