As a landlord, whenever you are looking at houses for sale in South Yorkshire, you could find varying prices throughout an area like Broomhill. 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 Broomhill 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 Broomhill will be revealed. Keep reading.
Always consider average rental yield when searching for houses for sale in Broomhill
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 Broomhill. 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 Broomhill.
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, Broomhill.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Broomhill | 3.5% | £991 | 140% | 21.0% |
| 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 Broomhill experiences. This figure for house sales per month is 26. 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.
Is the housing market in Broomhill growing?
Whenever you are thinking about looking for houses for sale in Broomhill, 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 | |
|---|---|---|---|
| Broomhill growth rate | 3% | 18% | 23% |
As the population of Broomhill 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.
What are the people like in Broomhill?
Are the people in Broomhill 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 Broomhill, the average income is £51,900. 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 40% to decide on what the demographics are like in the area.
In Broomhill, what are the deprivation levels like?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Broomhill, in particular, the deprivation levels are 14%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What is a social grade score and how does this relate to Broomhill?
In the city of Broomhill, the social grade score of the area is 40%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Broomhill.
| 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 |
Is there sufficient green space in Broomhill?
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 Broomhill currently has 7.8 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 Broomhill in this case.
How educated are the people in Broomhill?
In the city of Broomhill, 45% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Broomhill is £51,900.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Broomhill within South Yorkshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Broomhill 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 Broomhill.
What’s crime like in Broomhill?
For every one thousand people living in Broomhill, 57 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 57 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.
In the city of Broomhill, has the population grown or shrunk?
In total, the number of people in Broomhill is 48,200. 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 Broomhill, depending on where exactly you are.
How has Broomhill 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 Broomhill 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 Broomhill?
8% 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 Broomhill 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.
On average, what is the figure for the asking price of a house for sale in Broomhill?
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 Broomhill 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 £336,614.
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 Broomhill.
Average asking prices for houses for sale in Broomhill
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £234,550 |
| Average asking price (3 bed) | £321,058 |
| Average asking price (4 bed) | £473,122 |
| Average asking price (5 bed) | £670,997 |
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 £3,230. 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 Broomhill has a lack of supply of housing in certain categories.
What is the final sale price of a house in Broomhill?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Broomhill. In Broomhill, this sale price works out to be £276,933. As an example, a factor like population growth over the last 10 years which works out to be 8% in Broomhill and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £518,428 |
| Average sold price (semi-detached) | £337,733 |
| Average sold price (terraced) | £210,320 |
| Average sold price (flat) | £181,334 |
Above, the exact type of house is also shown to vary in price in a table in Broomhill. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
| Housing category | Sale price per square foot |
|---|---|
| Average sold price/sqft | £2,790 |
| Average sold price/sqft (new build) | £3,150 |
| Average sold price/sqft (old stock) | £2,690 |
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Broomhill which is £3,010. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Advice from experts on properties for sale in Broomhill
Finding the ideal house for sale for you
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 Broomhill.
-
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.
Are you considering other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in East Midlands, the same UK region as Broomhill:
- Mablethorpe in East Midlands
- Blyborough in East Midlands
- Eskham in East Midlands
- Aby in East Midlands
- Calke in East Midlands
You may also refer to our landing page specific to UK houses for sale, 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
0 Comments