fbpx

What is it like buying a house in Cabourne?

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 Cabourne?

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 Cabourne, Lincolnshire.

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

Asking price in Cabourne for a house for sale

When speaking about the city of Cabourne, £257,159 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 Cabourne.

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 Cabourne

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £131,700
Average asking price (3 bed) £231,923
Average asking price (4 bed) £326,278
Average asking price (5 bed) no relevant data for this city

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 £0. 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 Cabourne has a lack of supply of housing in certain categories.

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

Are there more or fewer houses being built in Cabourne?

The growth of an area like Cabourne 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
Cabourne growth rate -9% 19% 15%

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

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Cabourne to Lincolnshire and the broader suburb of the UK; East Midlands.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Cabourne no relevant data for this city no relevant data for this city no relevant data for this city 8.0%
Lincolnshire 3.97% £689 100.56% 15.86%
East Midlands 4.02% £775 113.13% 19.44%

Let’s assume you want to sell the house you’re looking to buy in Cabourne for profit in the future, in this case, looking at the data for the number of houses sold per month in Cabourne would give you an idea of whether the area is actively getting new investors. This figure is 5.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Cabourne. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

Are there any important statistics about the population of Cabourne?

Located in Lincolnshire is the city of Cabourne, in a large part of the UK; East Midlands. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Cabourne has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Cabourne which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

In the city of Cabourne, has the population grown or shrunk?

Population growth in Cabourne 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 Cabourne, 6,041 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 Cabourne 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 Cabourne, this change has been 3%. 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 3%. Click here to know more on the UK population trends.

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

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 8% in Cabourne.

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.

Are the people of Cabourne deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Cabourne, currently, 19% 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.

Is the education level of Cabourne important when buying a house?

In the city of Cabourne, 29% 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 Cabourne is £42,500.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

What’s the crime rate in Cabourne?

For the city of Cabourne, crime rate is at 57. So for every 1000 people in the area, 57 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Is there sufficient green space in Cabourne?

In the city of Cabourne, there are 16.3 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Cabourne is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

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

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 Cabourne in grades A or B which are the highest skilled roles in the country is 23%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £42,500 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 23%.

How much do people in Cabourne earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £42,500.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Cabourne this figure is 23%.

In Cabourne, what do houses for sale tend to sell for?

In Cabourne, houses for sale are sold at an average of £205,153. 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 Cabourne. 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) £247,539
Aerage sold price (semi-detached) £157,909
Aerage sold price (terraced) £126,841
Aerage sold price (flat) no relevant data for this city

As you can see above, for Cabourne, 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 8% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £1,710
Aerage sold price/sqft (new build) £1,600
Aerage sold price/sqft (old stock) £1,700

Looking at the second table about Cabourne, 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 Cabourne is £1,710.

Get professional help on the houses for sale in Cabourne

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

Thinking about other cities with houses for sale?

See here below a list of cities in the same UK region of Cabourne 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.

A house for sale that is right for you

What parameters impact the final price of a house for sale in Cabourne?
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.

0 Comments

Submit a Comment

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