What is it like buying a house in Alfreton?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ What is it like buying a house in Alfreton?

Alfreton can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Alfreton.

On top of this, keep reading for detailed information on the demographics of Alfreton in Derbyshire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

What are the asking prices for the houses for sale in the city of Alfreton?

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 Alfreton 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 £236,336.

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 Alfreton.

Average asking prices for houses for sale in Alfreton

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £168,189
Average asking price (3 bed) £223,481
Average asking price (4 bed) £352,475
Average asking price (5 bed) £536,424

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Alfreton is £2,450. This should show you the general prices overall and for individual types of houses too.

In Alfreton, what are the rental yields?

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 Alfreton this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (East Midlands) alongside Derbyshire 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 Alfreton.

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)
Alfreton 3.5% £696 138% 27.0%
Derbyshire 3.76% £772 125.53% 20.69%
East Midlands 4.02% £775 113.13% 19.44%

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 Alfreton.

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 (53) will be useful.

In Alfreton, how has the number of houses changed?

The growth of an area like Alfreton 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
Alfreton growth rate -4% 5% 16%

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 Alfreton if you want to find out the exact reasons for the housing change.

In Alfreton, what do houses for sale tend to sell for?

In Alfreton, the average sale price of a house for sale is in fact £161,814. This is dependent on the 10 year population growth of Alfreton being 6%. Growing populations are more likely to inflate the prices of houses for sale in the city of Alfreton.

Housing category Total final sale price
Aerage sold price (detached) £231,024
Aerage sold price (semi-detached) £136,468
Aerage sold price (terraced) £105,997
Aerage sold price (flat) £75,228

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 Alfreton.

Housing category Sale price per square foot
Aerage sold price/sqft £1,840
Aerage sold price/sqft (new build) £2,100
Aerage sold price/sqft (old stock) £1,660

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 £2,150. This means if you are just looking out the houses sold in Alfreton in general and didn’t take into consideration the type of build. For example, a new build.

What are the people like in Alfreton?

The city of Alfreton, situated in Derbyshire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Alfreton and its demographics will be compared to its wider location (East Midlands). 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 Alfreton. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Are the people in Alfreton 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 Alfreton, the average income is £35,500. 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 14% to decide on what the demographics are like in the area.

Have the people of Alfreton grown in numbers?

In total, the number of people in Alfreton is 51,182. 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 Alfreton, depending on where exactly you are.

How has Alfreton 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 Alfreton 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 Alfreton?

6% 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 Alfreton 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 Alfreton, how educated are people in general?

In Alfreton, the proportion of people who have a degree is 17%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Alfreton is £35,500.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

Is the city of Alfreton deprived?

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 Alfreton is 30% 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.

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

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 Alfreton currently has 13.4 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 Alfreton in this case.

What is a social grade score and how does this relate to Alfreton?

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 Alfreton in grades A or B which are the highest skilled roles in the country is 14%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £35,500 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 14%.

What’s the crime rate in Alfreton?

The crime rate of Alfreton must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 112, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (112) is both useful and is recommended to be compared to the average.