As a landlord, whenever you are looking at houses for sale in Leicestershire, you could find varying prices throughout an area like Bagworth. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Bagworth to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Bagworth will be revealed. Keep reading.
In Bagworth, what is the asking price in general for a house for sale?
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Bagworth is £295,115.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Bagworth is useful when negotiating and knowing what to expect for every type of house for sale.
The average asking price for the houses for sale in the city of Bagworth
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £195,259 |
| Average asking price (3 bed) | £261,556 |
| Average asking price (4 bed) | £387,886 |
| Average asking price (5 bed) | £547,351 |
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 (£2,880) for houses for sale with this table to get a good idea as to whether Bagworth is the right area to buy a house in for you.
In Bagworth, what do houses for sale tend to sell for?
For the city of Bagworth, the average price a house sells for is £212,415. This value usually depends on the exact location of the house within Bagworth as well as other factors like the population growth in Bagworth which is 12% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £274,965 |
| Aerage sold price (semi-detached) | £179,492 |
| Aerage sold price (terraced) | £136,789 |
| Aerage sold price (flat) | £111,518 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Bagworth.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,150 |
| Aerage sold price/sqft (new build) | £2,210 |
| Aerage sold price/sqft (old stock) | £1,990 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,520. This value averages all of the types of houses for sale in Bagworth. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Bagworth.
What’s the rental yield in general for the city of Bagworth?
Are there more or fewer houses being built in Bagworth?
Whenever you are thinking about looking for houses for sale in Bagworth, 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 | |
|---|---|---|---|
| Bagworth growth rate | no relevant data for this city | 16% | 24% |
As the population of Bagworth 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.
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 Bagworth. 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 Bagworth.
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 (Leicestershire), a regional level (East Midlands) and finally on the level of the city talked about in this article, Bagworth.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bagworth | 3.1% | £751 | 138% | 20.0% |
| Leicestershire | 3.36% | £869 | 102.50% | 16.04% |
| 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 Bagworth experiences. This figure for house sales per month is 57. 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.
Are there any important statistics about the population of Bagworth?
In Bagworth, what is the social grade score?
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 Bagworth 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 Bagworth, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 18%.
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 salary does the community in Bagworth take home?
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 Bagworth. Compare the area’s average household income of £41,300 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 18% for more conclusive data on the affluence of the area.
Is the crime rate bad in the city of Bagworth?
The crime rate of Bagworth 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 87, 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 (87) is both useful and is recommended to be compared to the average.
Is the education level of Bagworth important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Bagworth is 22%. 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 Bagworth is £41,300.
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 the city of Bagworth, is there a lot of green space?
Whether you view green space in Bagworth 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 Bagworth, the number of acres of green space for every 1000 people currently is 21.3 which can be measured against the UK average of 1.7.
In the city of Bagworth, has the population grown or shrunk?
Population growth in Bagworth 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 Bagworth, 58,769 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 Bagworth 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 Bagworth, this change has been 8%. 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 8%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Bagworth?
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 12% in Bagworth.
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.
Bagworth within Leicestershire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Bagworth will be looked at by comparing it to the local region, as well as comparing it to the wider region too (East Midlands). 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 Bagworth.
Are the people of Bagworth deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Bagworth is 24%.
Get professional help on the houses for sale in Bagworth
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in East Midlands, the same UK region of Bagworth that can help you evaluate the different houses for sale listed in the region:
- Blyth in East Midlands
- Mablethorpe in East Midlands
- Barkestone-Le-Vale in East Midlands
- Arbourthorne in East Midlands
- Nether-Haugh in East Midlands
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bagworth
- affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
- Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
- Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
- Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
- EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
- Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
- Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
- Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
- Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
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