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What is it like buying a house in Heanor?

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 Heanor?

Whenever looking for a house for sale in the UK or in Heanor, 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 Heanor.

In this article, we will be looking at the city of Heanor in detail so you know how to navigate the area and have a better understanding on where to invest.

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

Table showing the asking prices for houses for sale in Heanor

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £145,229
Average asking price (3 bed) £206,151
Average asking price (4 bed) £345,367
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Heanor, 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 Heanor 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 £208,854.

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 Heanor.

In general, what do houses for sale sell for in Heanor?

In Heanor, houses for sale are sold at an average of £155,039. 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 Heanor. 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) £216,140
Aerage sold price (semi-detached) £142,389
Aerage sold price (terraced) £108,205
Aerage sold price (flat) no relevant data for this city

As you can see above, for Heanor, 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 £1,730
Aerage sold price/sqft (new build) £2,100
Aerage sold price/sqft (old stock) £1,640

Looking at the second table about Heanor, 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 Heanor is £1,730.

In Heanor, what are the demographics like?

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

In the city of Heanor, the social grade score of the area is 15%. 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 Heanor.

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

Do the people of Heanor get to enjoy green space?

In the city of Heanor, there are 51.4 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 Heanor is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What is the education level like in Heanor?

In the city of Heanor, 17% 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 Heanor is £37,700.

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

How much are those living in Heanor earning?

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 (15%). 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 Heanor, this works out to be £37,700. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Is the crime rate bad in the city of Heanor?

For every one thousand people living in Heanor, 114 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 114 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.

Are the deprivation levels of the UK any different to Heanor?

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 Heanor is 26%.

Located in Derbyshire is the city of Heanor, 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 Heanor 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 Heanor 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.

Have the people of Heanor grown in numbers?

The city of Heanor has a total population of 18,589. 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 Heanor 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 Heanor

Over time, in the last five years, the population of the city of Heanor 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 Heanor?

In the last 10 years, there has been a shift in the population of 6%.

Comparing this to the 5 year figure of Heanor 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.

How are rental yields of the houses for sale different to the rest of the UK in Heanor?

Is the housing market in Heanor growing?

Whenever you are thinking about looking for houses for sale in Heanor, 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
Heanor growth rate -3% 18% 29%

As the population of Heanor 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.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Heanor. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Heanor.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Derbyshire), a regional level (East Midlands) and finally on the level of the city talked about in this article, Heanor.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Heanor no relevant data for this city no relevant data for this city no relevant data for this city 22.0%
Derbyshire 3.76% £772 125.53% 20.69%
East Midlands 4.02% £775 113.13% 19.44%

You may also find it useful to compare the data above to the number of properties sold per month Heanor experiences. This figure for house sales per month is 19. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Invest in houses for sale in Heanor with the right professional advice

Finding the ideal house for sale for you

Many criteria impact the price of houses for sale in Heanor.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

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

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 Heanor:

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

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