fbpx

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

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ How much will you pay for a house for sale in Alburgh?

Alburgh can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Alburgh.

On top of this, keep reading for detailed information on the demographics of Alburgh in Norfolk. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

Always consider average rental yield when searching for houses for sale in Alburgh

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 Alburgh this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (East of England) alongside Norfolk 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 Alburgh.

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)
Alburgh no relevant data for this city no relevant data for this city no relevant data for this city 13.0%
Norfolk 3.75% £975 117.20% 16.23%
East of England 3.49% £1,148 126.76% 16.58%

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 Alburgh.

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 (7) will be useful.

In Alburgh, how has the number of houses changed?

The growth of an area like Alburgh 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
Alburgh growth rate -5% 6% 14%

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

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

In Alburgh, houses for sale are sold at an average of £257,199. 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 Alburgh. 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) £319,273
Aerage sold price (semi-detached) £214,216
Aerage sold price (terraced) £181,816
Aerage sold price (flat) £112,676

As you can see above, for Alburgh, 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 15% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £2,560
Aerage sold price/sqft (new build) £2,100
Aerage sold price/sqft (old stock) £2,510

Looking at the second table about Alburgh, 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 Alburgh is £2,560.

What are the people like in Alburgh?

What salary does the community in Alburgh take home?

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 £40,900.

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 Alburgh this figure is 18%.

What is a social grade score and how does this relate to Alburgh?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Alburgh, the percentage of people in the two highest categories, A and B is 18%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £40,900. This income will generally get bigger as the percentage of people in the A and B categories go up too (18%).

How educated are the people in Alburgh?

In the city of Alburgh, 23% 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 Alburgh is £40,900.

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

How deprived is the population of Alburgh?

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 Alburgh is 22%.

What’s crime like in Alburgh?

Within Alburgh, the number of people committing crimes is 68 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 68 figure carefully.

In the city of Alburgh, how much green space remains for residents?

Whether you view green space in Alburgh as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Alburgh, the number of acres of green space for every 1000 people currently is 7.1 which can be measured against the UK average of 1.7.

Have the people of Alburgh grown in numbers?

Population growth in Alburgh 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 Alburgh, 7,810 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 Alburgh 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 Alburgh, this change has been 8%. 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 8%. Click here to know more on the UK population trends.

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

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 15% in Alburgh.

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.

Alburgh in the county of Norfolk 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 Alburgh is located in; East of England.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Alburgh, 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.

What are the asking prices for the houses for sale in the city of Alburgh?

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 Alburgh 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 £376,793.

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 Alburgh.

Table showing the asking prices for houses for sale in Alburgh

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £216,132
Average asking price (3 bed) £370,250
Average asking price (4 bed) £440,417
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 Alburgh 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.

Professional advice for houses for sale in Alburgh

Other cities you can consider looking for with houses for sale

We have prepared a list of cities in East of England, the same UK region of Alburgh 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

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Alburgh.

  • Affordability – check this article from the UK government to find out (see what house for sale you can afford)

  • Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.

  • Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.

  • Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.

  • EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.

  • Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale

  • Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month

  • Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.

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

0 Comments

Submit a Comment

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