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What is it like buying a house in Buckminster?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ What is it like buying a house in Buckminster?

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Buckminster, Leicestershire.

From the average asking price of houses for sale in Buckminster to the growth of the population in the area, all will be talked about regarding the city of Buckminster. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

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

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Buckminster this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (East Midlands) alongside Leicestershire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Buckminster.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Buckminster no relevant data for this city no relevant data for this city no relevant data for this city 12.0%
Leicestershire 3.36% £869 102.50% 16.04%
East Midlands 4.02% £775 113.13% 19.44%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Buckminster.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (7) will be useful.

Is the housing market in Buckminster growing?

Before committing to Buckminster to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Buckminster growth rate -5% 17% 23%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Buckminster is building housing to find your answer.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Buckminster. In Buckminster, this sale price works out to be £264,180. As an example, a factor like population growth over the last 10 years which works out to be 7% in Buckminster and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £326,066
Average sold price (semi-detached) £174,732
Average sold price (terraced) £129,858
Average sold price (flat) no relevant data for this city

Above, the exact type of house is also shown to vary in price in a table in Buckminster. 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 £2,060
Average sold price/sqft (new build) £0
Average sold price/sqft (old stock) £1,990

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 Buckminster which is £2,060. 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.

What are the people like in Buckminster?

Do the people of Buckminster get to enjoy 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 Buckminster currently has 30.2 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 Buckminster in this case.

Is the city of Buckminster deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Buckminster, currently, 21% 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.

What is the social grade score of Buckminster?

In the city of Buckminster, the social grade score of the area is 26%. 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 Buckminster.

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

In general, do people commit a lot of crime in Buckminster?

For every one thousand people living in Buckminster, 58 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 58 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.

What salary does the community in Buckminster take home?

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 (26%). 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 Buckminster, this works out to be £46,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Buckminster 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, Buckminster 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 Buckminster.

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

In the city of Buckminster, 24% 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 Buckminster is £46,000. 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.

Have the people of Buckminster grown in numbers?

In total, the number of people in Buckminster is 9,709. 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 Buckminster, depending on where exactly you are.

How has Buckminster 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 Buckminster has changed by 3%. 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 3% 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 Buckminster?

7% 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 Buckminster 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 are the asking prices for the houses for sale in the city of Buckminster?

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 Buckminster 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 £347,866.

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 Buckminster.

Average asking prices for houses for sale in Buckminster

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) no relevant data for this city
Average asking price (3 bed) £259,992
Average asking price (4 bed) £439,739
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 Buckminster 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.

Advice from experts on properties for sale in Buckminster

A house for sale appropriate to your needs

What parameters impact the final price of a house for sale in Buckminster?
Here below is our list with the most important ones:

  • House for sale affordability – check out the (see house affordability guide)

    on the UK gov website to know more

  • House Location – the actual location of a house for sale drastically changes the final price of a property

  • Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

  • Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

  • Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

  • Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

  • Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

  • Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

  • Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

Other cities you can consider looking for 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 Buckminster:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

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