What is it like buying a house in Castle Gresley?

by | Nov 15, 2022

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Castle Gresley might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Derbyshire.
Before looking for a house for sale in the city of Castle Gresley we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Castle Gresley.

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

Table showing the asking prices for houses for sale in Castle Gresley

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £163,009
Average asking price (3 bed) £235,581
Average asking price (4 bed) £330,197
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 £2,670. 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 Castle Gresley has a lack of supply of housing in certain categories.

On average, in Castle Gresley, the asking price for a house for sale in the area is £245,297.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Castle Gresley. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

What are the demographics like in the city of Castle Gresley?

Is the crime rate bad in the city of Castle Gresley?

Within Castle Gresley, the number of people committing crimes is 103 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 103 figure carefully.

What is the social grade score of Castle Gresley?

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 Castle Gresley 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 Castle Gresley, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 14%.

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

What does the population of Castle Gresley look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Castle Gresley if 43,734 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Castle Gresley such as rental yield or house appreciation.

How has the population size of Castle Gresley adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Castle Gresley by 10%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 10% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Castle Gresley?

In the last decade, the population of Castle Gresley has been adjusted by 16%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

Is the education level of Castle Gresley important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Castle Gresley is 17%. 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 Castle Gresley is £39,200.

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.

Castle Gresley in the county of Derbyshire 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 Castle Gresley 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 Castle Gresley, 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 Castle Gresley, 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 Castle Gresley currently has 7.0 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 Castle Gresley in this case.

How much do people in Castle Gresley earn?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£39,200 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 14% for Castle Gresley.

How deprived is the population of Castle Gresley?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Castle Gresley is 26%.

In general, what do houses for sale sell for in Castle Gresley?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Castle Gresley. In Castle Gresley, this sale price works out to be £179,415. As an example, a factor like population growth over the last 10 years which works out to be 16% in Castle Gresley and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £233,588
Average sold price (semi-detached) £155,912
Average sold price (terraced) £130,173
Average sold price (flat) £100,033

Above, the exact type of house is also shown to vary in price in a table in Castle Gresley. 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 £2,020
Average sold price/sqft (new build) £2,270
Average sold price/sqft (old stock) £1,870

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 Castle Gresley which is £2,350. 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.

In Castle Gresley, what are the rental yields?

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 Castle Gresley to Derbyshire and the broader suburb of the UK; East Midlands.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Castle Gresley 3.5% £717 127% 21.0%
Derbyshire 3.76% £772 125.53% 20.69%
East Midlands 4.02% £775 113.13% 19.44%

Let’s assume you want to sell the house you’re looking to buy in Castle Gresley for profit in the future, in this case, looking at the data for the number of houses sold per month in Castle Gresley would give you an idea of whether the area is actively getting new investors. This figure is 42.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Castle Gresley. 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.

What is the growth in the housing market of Castle Gresley?

Whenever you are thinking about looking for houses for sale in Castle Gresley, 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
Castle Gresley growth rate no relevant data for this city 10% 21%

As the population of Castle Gresley 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.

Who can help you buy a house for sale in Castle Gresley?

Are you considering other cities with houses for sale?

We have prepared a list of cities in East Midlands, the same UK region of Castle Gresley that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.

A house for sale appropriate to your needs

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

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