Looking for your next home or investment?

We partner with the best agents to help you find your dream house. We also partner with Strike to help you sell your property if you are moving out

Find your dream property:

See properties for sale

Sell your property with Strike:

Get a free valuation

Our customers trust our expertise

How much does a house for sale cost in Bestwood Village?

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 Bestwood Village?

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 Bestwood Village to help you find the perfect agent for you

Download the directory

Bestwood Village 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 Bestwood Village.

On top of this, keep reading for detailed information on the demographics of Bestwood Village in Nottinghamshire. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

On average, what is the figure for the asking price of a house for sale in Bestwood Village?

Average prices for the houses for sale in Bestwood Village

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £148,798
Average asking price (3 bed) £185,098
Average asking price (4 bed) £303,438
Average asking price (5 bed) no relevant data for this city

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Bestwood Village and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

When investors make offers for houses for sale in Bestwood Village, the average price asked by the homeowners works out to be £172,282.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Bestwood Village is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Always consider average rental yield when searching for houses for sale in Bestwood Village

In Bestwood Village, how has the number of houses changed?

Whenever you are thinking about looking for houses for sale in Bestwood Village, 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
Bestwood Village growth rate 7% 23% 41%

As the population of Bestwood Village 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.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Bestwood Village, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; East Midlands. As well as Nottinghamshire, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bestwood Village £0 £817 £1 £0
Nottinghamshire 4.39% £865.10 134.00% 19.74%
East Midlands 0.04 774.81 £1 19.44%

Assuming that in the future you want to re-sell the house you will eventually purchased in Bestwood Village you might be interested in the number of sales per month (25) that happen in the local housing market. Comparing this figure for Bestwood Village with the above table gives you a good understanding of the profitability of the area.

Other cities in different locations you can consider to buy property

Below is a list of towns that differ from Bestwood Village.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to East Midlands:

If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.

A house for sale appropriate to your needs

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 Bestwood Village.

  • 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.

Advice from experts on properties for sale in Bestwood Village

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

Are there any important statistics about the population of Bestwood Village?

How much do people in Bestwood Village earn?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (10%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Bestwood Village, this works out to be £31,000.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

What’s a social grade score and how does it relate to Bestwood Village?

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 Bestwood Village 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 Bestwood Village, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 10%.

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

Bestwood Village in the county of Nottinghamshire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Bestwood Village is located in; East Midlands.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Bestwood Village, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

In the city of Bestwood Village, 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 Bestwood Village currently has 27 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 Bestwood Village in this case.

What is the education level like in Bestwood Village?

Interestingly, the percentage of people who have a degree in the city of Bestwood Village is 15%. 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 Bestwood Village is £31,000.00.

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.

What does the population of Bestwood Village look like?

In total, the number of people in Bestwood Village is 37861. 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 Bestwood Village, depending on where exactly you are.

How has Bestwood Village 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 Bestwood Village has changed by 5%. 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 5% 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 Bestwood Village?

12% 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 Bestwood Village 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.

What’s the crime rate in Bestwood Village?

For every one thousand people living in Bestwood Village, 16300% 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 16300% 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.

Is the city of Bestwood Village deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bestwood Village, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

In general, for the city of Bestwood Village, what are the final purchase prices for the houses for sale?

In Bestwood Village, houses for sale are sold at an average of £141,449. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Bestwood Village. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £196,306
Aerage sold price (semi-detached) £140,619
Aerage sold price (terraced) £107,187
Aerage sold price (flat) £85,938

As you can see above, for Bestwood Village, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 12% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £1,740
Aerage sold price/sqft (new build) £2,140
Aerage sold price/sqft (old stock) £1,610

Looking at the second table about Bestwood Village, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Bestwood Village is £1,740.

Frequently Asked Questions

If you are a landlord, should you renovate a property in the city of Bestwood Village?

Properties in the city of Bestwood Village may have the potential for renovation if there are a lot of planning permission approvals based on the area. There are 4 approvals every month with an approval of nan based on a population of 37861. Compare other places in the UK to make this figure make more sense.

What’s the number of property sales each month in Bestwood Village?

In Bestwood Village, the monthly property transaction count reaches 25, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

How does the population in a city like Bestwood Village change annually?

To work out how the population of Bestwood Village has changed over time, you can look at the population change over a decade which is 12% and the change in a five year period two which falls at 5%. Compare the two and look at the population growth or decline in recent times to really make sure you have a good understanding of the population

prices for houses on sale in the broader vicinity of Bestwood Village?

In Bestwood Village, the mean asking price per square foot for a house is currently £0, based on the average value per square foot

Does opting for a house for sale in Bestwood Village come with a hefty price tag?

To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Bestwood Village, the value is £141,449, whereas the UK’s mean is £286,500

Grab the latest property news, tailored for landlords

Viral, succinct and crucial information, straight to your inbox, every week

donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *