Whenever looking for a house for sale in the UK or in Butterley, it is vital you look at the market trends and house price fluctuations in the wider area of Derbyshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Butterley.
In this article, we will be looking at the city of Butterley in detail so you know how to navigate the area and have a better understanding on where to invest.
In Butterley, what is the asking price in general for a house for sale?
When speaking about the city of Butterley, £240,856 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Butterley.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Average asking prices for houses for sale in Butterley
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £181,146 |
| Average asking price (3 bed) | £234,716 |
| Average asking price (4 bed) | £325,697 |
| Average asking price (5 bed) | no relevant data for this city |
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 (£2,520) for houses for sale with this table to get a good idea as to whether Butterley is the right area to buy a house in for you.
What are the people like in Butterley?
Butterley within Derbyshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Butterley 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 Butterley.
In Butterley, how educated are people in general?
In Butterley, the proportion of people who have a degree is 18%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Butterley is £37,100.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
In the city of Butterley, is there a lot of 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 Butterley, the city has 14.0 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 Butterley.
What’s crime like in Butterley?
The crime rate of Butterley 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 118, 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 (118) is both useful and is recommended to be compared to the average.
How much do people in Butterley earn?
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 Butterley. Compare the area’s average household income of £37,100 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 16% for more conclusive data on the affluence of the area.
In Butterley, what is the social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Butterley in grades A or B which are the highest skilled roles in the country is 16%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £37,100 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 16%.
In Butterley, how has the population changed?
The city of Butterley has a total population of 22,075. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Butterley is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Butterley
Over time, in the last five years, the population of the city of Butterley has changed by 4%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 4% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Butterley?
In the last 10 years, there has been a shift in the population of 6%.
Comparing this to the 5 year figure of Butterley can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
Are the deprivation levels of the UK any different to Butterley?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Butterley is 27% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
How are rental yields of the houses for sale different to the rest of the UK in Butterley?
Is the housing market in Butterley growing?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Butterley that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Butterley growth rate | 3% | 12% | 30% |
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Butterley is important.
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 Butterley this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East Midlands) alongside Derbyshire 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 Butterley.
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) | |
|---|---|---|---|---|
| Butterley | 3.0% | £598 | no relevant data for this city | 20.0% |
| Derbyshire | 3.76% | £772 | 125.53% | 20.69% |
| 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 Butterley.
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 (23) will be useful.
In Butterley, what do houses for sale tend to sell for?
In Butterley, houses for sale are sold at an average of £176,015. 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 Butterley. 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) | £233,581 |
| Aerage sold price (semi-detached) | £154,823 |
| Aerage sold price (terraced) | £117,305 |
| Aerage sold price (flat) | £103,000 |
As you can see above, for Butterley, 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 6% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,920 |
| Aerage sold price/sqft (new build) | £2,250 |
| Aerage sold price/sqft (old stock) | £1,790 |
Looking at the second table about Butterley, 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 Butterley is £2,220.
Professional advice for houses for sale in Butterley
House for sale in the same UK region
We have prepared a list of cities in East Midlands, the same UK region of Butterley that can help you evaluate the different houses for sale listed in the region:
- Mablethorpe in East Midlands
- Arbourthorne in East Midlands
- Ab-Kettleby in East Midlands
- Brinsworth 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.
Finding the ideal house for sale for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Butterley
- 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.
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
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