How much will you pay for a house for sale in Allestree?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ How much will you pay for a house for sale in Allestree?

Whenever looking for a house for sale in the UK or in Allestree, it is vital you look at the market trends and house price fluctuations in the wider area of Derbyshire 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 Allestree.

In this article, we will be looking at the city of Allestree in detail so you know how to navigate the area and have a better understanding on where to invest.

In general, what do houses for sale sell for in Allestree?

As well as looking at the asking price for house for sale in Allestree, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Allestree.

Houses for sale, are sold on average in Allestree, after the influence of these factors, at £211,260 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 4% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £303,577
Aerage sold price (semi-detached) £192,000
Aerage sold price (terraced) £133,639
Aerage sold price (flat) £104,397

This table above shows the average sale price for each variation of houses for sale in Allestree.

Housing category Sale price per square foot
Aerage sold price/sqft £2,220
Aerage sold price/sqft (new build) £2,260
Aerage sold price/sqft (old stock) £2,100

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Allestree is £2,220.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Asking price in Allestree for a house for sale

The average asking price for the houses for sale in the city of Allestree

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £158,978
Average asking price (3 bed) £253,301
Average asking price (4 bed) £395,655
Average asking price (5 bed) £612,989

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 Allestree has a lack of supply of housing in certain categories.

On average, in Allestree, the asking price for a house for sale in the area is £245,766.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Allestree. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Are there any important statistics about the population of Allestree?

Located in Derbyshire is the city of Allestree, in a large part of the UK; East Midlands. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Allestree has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Allestree which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

Is the crime rate bad in the city of Allestree?

For every one thousand people living in Allestree, 145 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 145 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.

How much green space is available to residents of Allestree?

Whether you view green space in Allestree 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 Allestree, the number of acres of green space for every 1000 people currently is 22.4 which can be measured against the UK average of 1.7.

In Allestree, what are the deprivation levels like?

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 Allestree is 25% 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.

How much are those living in Allestree earning?

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 Allestree. Compare the area’s average household income of £42,600 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 23% for more conclusive data on the affluence of the area.

For the city of Allestree, what is the education level?

In Allestree, the proportion of people who have a degree is 30%. 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 Allestree is £42,600.

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.

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

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Allestree compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Allestree, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 23%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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

What is the population of Allestree?

Population growth in Allestree is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Allestree, 46,003 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Allestree in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Allestree, this change has been 1%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 1%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Allestree?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 4% in Allestree.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

Always consider average rental yield when searching for houses for sale in Allestree

Is the housing market in Allestree growing?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Allestree that shows the growth in recent years.

1 year 3 years 5 years
Allestree growth rate -2% 10% 22%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Allestree is important.

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 Allestree. 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 Allestree.

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 (Derbyshire), a regional level (East Midlands) and finally on the level of the city talked about in this article, Allestree.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Allestree 3.8% £780 85% 20.0%
Derbyshire 3.76% £772 125.53% 20.69%
East Midlands 4.02% £775 113.13% 19.44%

You may also find it useful to compare the data above to the number of properties sold per month Allestree experiences. This figure for house sales per month is 38. 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.