We help you find the right agent
At lofti we want to simplify your life and help you buy, sell or rent your property. We have assembled all the agent in Hull to help you find the perfect agent for you
Whenever looking for a house for sale in the UK or in Hull, it is vital you look at the market trends and house price fluctuations in the wider area of East Riding of Yorkshire 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 Hull.
In this article, we will be looking at the city of Hull in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the people like in Hull?
Hull within East Riding of Yorkshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Hull will be looked at by comparing it to the local region, as well as comparing it to the wider region too (North East). 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 Hull.
In the city of Hull, has the population grown or shrunk?
In total, the number of people in Hull is 407923. 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.
Are the people of Hull 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 £0 for Hull should give you a nice idea of the deprivation in the area.
In Hull, how educated are people in general?
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 £36,147.06.
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.
In general, do people commit a lot of crime in Hull?
For every one thousand people living in Hull, 15447% 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 15447% 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’s a social grade score and how does it relate to Hull?
In the city of Hull and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Hull has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 18%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| 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 |
Are the people in Hull earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Hull, the average income is £36,147.06. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 18% to decide on what the demographics are like in the area.
In the city of Hull, how much green space remains for residents?
In the city of Hull, there are 10 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 Hull is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Finding the ideal house for sale 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 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.
In Hull, what is the asking price in general for a house for sale?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Hull determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £187,451.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Hull.
Table showing the asking prices for houses for sale in Hull
| 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 |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£437) for houses for sale with this table to get a good idea as to whether Hull is the right area to buy a house in for you.
How are rental yields of the houses for sale different to the rest of the UK in Hull?
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Hull this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside East Riding of Yorkshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Hull.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Hull | £0 | £635 | £1 | £0 |
| East Riding of Yorkshire | 4.47% | £652.85 | 122.00% | 19.86% |
| North East | 0.05 | 757.25 | £1 | 19.25% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Hull.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (4) will be useful.
What is the growth in the housing market of Hull?
Whenever you are thinking about looking for houses for sale in Hull, 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 | |
|---|---|---|---|
| Hull growth rate | -1% | 9% | 13% |
As the population of Hull 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.
What is the final sale price of a house in Hull?
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.
House for sale in a different UK region
You can consult our list below that goes over a list of cities not necessarily in North East, allowing you to find similar places to Hull:
- bladon in North East
- ordsall in North East
- horsforth in North East
- hemel-hempstead in North East
- sheffield in North East
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
Professional advice for houses for sale in Hull
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
Frequently Asked Questions (FAQ)
Are there opportunities for property renovation in Hull?
Amidst the urban landscape of Hull, 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 3 and on the other hand, there is a planning success rate of 93%. It is also useful to take into consideration the population size of the area (407923).
What is the monthly count of property transactions in Hull?
In Hull, the monthly property transaction count reaches 4, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.
In a city like Hull, what’s the yearly fluctuation in population?
When evaluating the population trajectory of Hull, explore the decade-spanning population shift of 2% and the five-year modification of population of 1%. By drawing comparisons, see if demographic changes in your chosen area is
What are the asking rates for houses for sale in the surrounding area of Hull?
In Hull, the mean asking price per square foot for a house is currently £437, based on the average value per square foot
Is investing in a house for sale in Hull a financially demanding choice?
To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Hull, the value is £157,128, whereas the UK’s mean is £286,500
0 Comments