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How much does a house for sale cost in Balby?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ How much does a house for sale cost in Balby?

As a landlord, whenever you are looking at houses for sale in South Yorkshire, you could find varying prices throughout an area like Balby. 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 Balby 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 Balby will be revealed. Keep reading.

In Balby, 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 Balby 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 £180,699.

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 Balby.

In the city of Balby, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £108,559
Average asking price (3 bed) £178,352
Average asking price (4 bed) £311,950
Average asking price (5 bed) £426,660

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 Balby is £0. This should show you the general prices overall and for individual types of houses too.

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

As well as looking at the asking price for house for sale in Balby, 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 Balby.

Houses for sale, are sold on average in Balby, after the influence of these factors, at £156,086 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) £235,765
Aerage sold price (semi-detached) £138,712
Aerage sold price (terraced) £93,726
Aerage sold price (flat) £108,076

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

Housing category Sale price per square foot
Aerage sold price/sqft £1,660
Aerage sold price/sqft (new build) £2,070
Aerage sold price/sqft (old stock) £1,560

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 Balby is £1,660.

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

What kind of demographics does the city of Balby have?

In the city of Balby, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of South Yorkshire for example.

These demographics for Balby may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Balby in East Midlands.

What is the population of Balby?

Population growth in Balby 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 Balby, 53,722 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 Balby 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 Balby, this change has been 2%. 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 2%. Click here to know more on the UK population trends.

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

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 Balby.

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.

What is the city of Balby’s social grade score?

In the city of Balby 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 Balby has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 17%.

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

What’s crime like in Balby?

The crime rate of Balby 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 144, 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 (144) is both useful and is recommended to be compared to the average.

Do the people of Balby get to enjoy green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Balby, the city has 15.4 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Balby.

How educated are the people in Balby?

In the city of Balby, 21% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Balby is £37,300. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

Are the people in Balby earning a lot?

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 Balby. Compare the area’s average household income of £37,300 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 17% for more conclusive data on the affluence of the area.

In Balby, what are the deprivation levels like?

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 28% for Balby should give you a nice idea of the deprivation in the area.

Why you should consider the average rental yield when searching for houses for sale in Balby

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 Balby. 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 Balby.

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

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Balby 4.6% £693 113% 20.0%
South Yorkshire 4.41% £714 106.44% 22.07%
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 Balby experiences. This figure for house sales per month is 55. 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 more or fewer houses being built in Balby?

The growth of an area like Balby 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
Balby growth rate -4% -1% 2%

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

Who can help you buy a house for sale in Balby?

Invest in a house for sale that meets your demands

When browsing houses for sale in Balby you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
  • 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.

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

House for sale in the same UK region

See here below a list of cities in the same UK region of Balby which is East Midlands. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

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