How much will you pay for a house for sale in Groby?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ How much will you pay for a house for sale in Groby?

As a landlord, whenever you are looking at houses for sale in Leicestershire, you could find varying prices throughout an area like Groby. 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 Groby 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 Groby will be revealed. Keep reading.

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

In Groby, the average sale price of a house for sale is in fact £242,464. This is dependent on the 10 year population growth of Groby being 9%. Growing populations are more likely to inflate the prices of houses for sale in the city of Groby.

Housing category Total final sale price
Aerage sold price (detached) £293,854
Aerage sold price (semi-detached) £212,703
Aerage sold price (terraced) £172,876
Aerage sold price (flat) £117,621

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Groby.

Housing category Sale price per square foot
Aerage sold price/sqft £2,660
Aerage sold price/sqft (new build) £1,610
Aerage sold price/sqft (old stock) £2,510

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £2,660. This means if you are just looking out the houses sold in Groby in general and didn’t take into consideration the type of build. For example, a new build.

Are there any important statistics about the population of Groby?

Do the people of Groby 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 Groby currently has no relevant data for this city 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 Groby in this case.

Are the people of Groby deprived?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 18% for Groby should give you a nice idea of the deprivation in the area.

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

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 Groby in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £47,400 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 26%.

How educated are the people in Groby?

In the city of Groby, 26% 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 Groby is £47,400. 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.

What’s the crime rate in Groby?

The crime rate of Groby 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 52, 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 (52) is both useful and is recommended to be compared to the average.

Located in Leicestershire is the city of Groby, 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 Groby 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 Groby 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.

How much do people in Groby 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 £47,400.

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 Groby this figure is 26%.

What does the population of Groby look like?

The city of Groby has a total population of 11,973. 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 Groby 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 Groby

Over time, in the last five years, the population of the city of Groby has changed by 5%. 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 5% 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 Groby?

In the last 10 years, there has been a shift in the population of 9%.

Comparing this to the 5 year figure of Groby 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.

What’s the rental yield in general for the city of Groby?

Are there more or fewer houses being built in Groby?

Before committing to Groby 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
Groby growth rate 8% 19% 36%

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 Groby is building housing to find your answer.

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 Groby 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 Groby.

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)
Groby 3.2% £882 no relevant data for this city 30.0%
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 Groby.

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 (12) will be useful.

What is the asking price on average of houses for sale in Groby?

Table showing the asking prices for houses for sale in Groby

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £231,667
Average asking price (3 bed) £304,280
Average asking price (4 bed) £436,150
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Groby, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.

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 Groby 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 £327,920.

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 Groby.