As a landlord, whenever you are looking at houses for sale in Leicestershire, you could find varying prices throughout an area like Loughborough. 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 Loughborough 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 Loughborough will be revealed. Keep reading.
What’s the rental yield in general for the city of Loughborough?
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 Loughborough to Leicestershire and the broader suburb of the UK; East Midlands.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Loughborough | 4.0% | £898 | 45% | 25.0% |
| Leicestershire | 3.36% | £869 | 102.50% | 16.04% |
| East Midlands | 4.02% | £775 | 113.13% | 19.44% |
Let’s assume you want to sell the house you’re looking to buy in Loughborough for profit in the future, in this case, looking at the data for the number of houses sold per month in Loughborough would give you an idea of whether the area is actively getting new investors. This figure is 41.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Loughborough. 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 new houses being built in Loughborough to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Loughborough at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Loughborough growth rate | -1% | 10% | 22% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Loughborough gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Loughborough.
In general, for the city of Loughborough, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Loughborough, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Loughborough.
Houses for sale, are sold on average in Loughborough, after the influence of these factors, at £210,289 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 15% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £297,717 |
| Aerage sold price (semi-detached) | £194,201 |
| Aerage sold price (terraced) | £156,958 |
| Aerage sold price (flat) | £113,685 |
This table above shows the average sale price for each variation of houses for sale in Loughborough.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,330 |
| Aerage sold price/sqft (new build) | £2,420 |
| Aerage sold price/sqft (old stock) | £2,160 |
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Loughborough is £2,330.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Are there any important statistics about the population of Loughborough?
In the city of Loughborough, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Leicestershire for example.
These demographics for Loughborough may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Loughborough in East Midlands.
What’s the crime rate in Loughborough?
In Loughborough, for every 1000 people, there is currently a crime rate of 123. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (123 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
Are the deprivation levels of the UK any different to Loughborough?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Loughborough, in particular, the deprivation levels are 21%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
How much green space is available to residents of Loughborough?
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 Loughborough, the city has 8.6 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 Loughborough.
What’s a social grade score and how does it relate to Loughborough?
In the city of Loughborough and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Loughborough has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 23%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| 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 |
Have the people of Loughborough grown in numbers?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Loughborough is 60,318.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Loughborough.
In Loughborough, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 8%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Loughborough is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (8%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Loughborough population difference over 10 years?
The population has adjusted in the area of Loughborough by 15% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Loughborough.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
How much are those living in Loughborough earning?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Loughborough, the average income is £42,200. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 23% to decide on what the demographics are like in the area.
For the city of Loughborough, what is the education level?
In Loughborough, the proportion of people who have a degree is 28%. 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 Loughborough is £42,200.
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.
Asking price in Loughborough for a house for sale
When speaking about the city of Loughborough, £269,058 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 Loughborough.
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.
The average asking price for the houses for sale in the city of Loughborough
| Average asking price (1 bed) | £104,905 |
| Average asking price (2 bed) | £203,745 |
| Average asking price (3 bed) | £264,375 |
| Average asking price (4 bed) | £412,705 |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Loughborough and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
Get professional help on the houses for sale in Loughborough
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
Thinking about other cities 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 Loughborough:
- Long-Eaton in East Midlands
- Easthorpe in East Midlands
- Ironville in East Midlands
- Barton-In-Fabis in East Midlands
- Highlane in East Midlands
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Invest in a house for sale that meets your demands
When browsing houses for sale in Loughborough you should think about lots of different criteria:
- House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
- Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
- House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
- Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
- energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
- Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
- Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
- Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
- 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.
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