Whenever looking for a house for sale in the UK or in Albury, it is vital you look at the market trends and house price fluctuations in the wider area of Hertfordshire 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 Albury.
In this article, we will be looking at the city of Albury in detail so you know how to navigate the area and have a better understanding on where to invest.
How are rental yields of the houses for sale different to the rest of the UK in Albury?
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 Albury to Hertfordshire and the broader suburb of the UK; East of England.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|East of England||3.49%||£1,148||126.76%||16.58%|
Let’s assume you want to sell the house you’re looking to buy in Albury for profit in the future, in this case, looking at the data for the number of houses sold per month in Albury would give you an idea of whether the area is actively getting new investors. This figure is 16.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Albury. 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 more or fewer houses being built in Albury?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Albury that shows the growth in recent years.
|1 year||3 years||5 years|
|Albury growth rate||9%||24%||20%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Albury is important.
In general, for the city of Albury, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Albury. In Albury, this sale price works out to be £587,798. As an example, a factor like population growth over the last 10 years which works out to be 10% in Albury and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£835,818|
|Average sold price (semi-detached)||£501,007|
|Average sold price (terraced)||£390,730|
|Average sold price (flat)||£268,334|
Above, the exact type of house is also shown to vary in price in a table in Albury. 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||£4,725|
|Average sold price/sqft (new build)||£4,390|
|Average sold price/sqft (old stock)||£4,695|
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 Albury which is £4,940. 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.
What kind of demographics does the city of Albury have?
For the city of Albury, what is the education level?
The number of people as a percentage who have been through university and gained a degree is 36%. The ability to buy a home is greatly influenced by the number of people who have degrees. £54,850 is the amount people in Albury are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Albury, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
What salary does the community in Albury take home?
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 (39%). 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 Albury, this works out to be £54,850. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the city of Albury 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 16% for Albury should give you a nice idea of the deprivation in the area.
In Albury, how has the population changed?
The city of Albury has a total population of 18,792. 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 Albury 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 Albury
Over time, in the last five years, the population of the city of Albury 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 Albury?
In the last 10 years, there has been a shift in the population of 10%.
Comparing this to the 5 year figure of Albury 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.
Located in Hertfordshire is the city of Albury, in a large part of the UK; East of England. 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 Albury 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 Albury 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.
What’s a social grade score and how does it relate to Albury?
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 Albury 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 Albury, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 39%.
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’s the crime rate in Albury?
The crime rate of Albury 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 49, 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 (49) is both useful and is recommended to be compared to the average.
In the city of Albury, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Albury, 36.3 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Albury.
Asking price in Albury for a house for sale
When investors make offers for houses for sale in Albury, the average price asked by the homeowners works out to be £706,152.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Albury is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Average asking prices for houses for sale in Albury
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£403,497|
|Average asking price (3 bed)||£632,503|
|Average asking price (4 bed)||£1,012,150|
|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 £3,040. 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 Albury has a lack of supply of housing in certain categories.
Invest in houses for sale in Albury with the right professional advice
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Invest in a house for sale that meets your demands
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Albury
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.
houses for sale in other cities in the UK
You can assess the various houses for sale offered in the area by consulting this list of cities in East of England, the same UK region as Albury:
- Berden in East of England
- Bastwick in East of England
- Ballinger-Common in East of England
- Belton in East of England
- Peterborough in East of England
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK