Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Alby Hill, Norfolk.
From the average asking price of houses for sale in Alby Hill to the growth of the population in the area, all will be talked about regarding the city of Alby Hill. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, what do houses for sale sell for in Alby Hill?
In Alby Hill, the average sale price of a house for sale is in fact £294,803. This is dependent on the 10 year population growth of Alby Hill being 5%. Growing populations are more likely to inflate the prices of houses for sale in the city of Alby Hill.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £330,796 |
| Aerage sold price (semi-detached) | £240,952 |
| Aerage sold price (terraced) | £218,946 |
| Aerage sold price (flat) | £134,273 |
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 Alby Hill.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,700 |
| Aerage sold price/sqft (new build) | £2,390 |
| Aerage sold price/sqft (old stock) | £2,640 |
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 £2,700. This means if you are just looking out the houses sold in Alby Hill in general and didn’t take into consideration the type of build. For example, a new build.
In Alby Hill, what are the rental yields?
Is the housing market in Alby Hill growing?
The growth of an area like Alby Hill 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 | |
|---|---|---|---|
| Alby Hill growth rate | 8% | 17% | 34% |
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 Alby Hill if you want to find out the exact reasons for the housing change.
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Alby Hill.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Norfolk) as well as the broader region; East of England.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Alby Hill | 3.5% | £1,054 | no relevant data for this city | 11.0% |
| Norfolk | 3.75% | £975 | 117.20% | 16.23% |
| East of England | 3.49% | £1,148 | 126.76% | 16.58% |
Also, you can compare other data to the table above such as the number of houses sold per month in Alby Hill which is 12 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Alby Hill is to invest in. Both in terms of rental yield and capital appreciation.
What are the asking prices for the houses for sale in the city of Alby Hill?
Average asking prices for houses for sale in Alby Hill
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £276,662 |
| Average asking price (3 bed) | £348,846 |
| Average asking price (4 bed) | £485,909 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Alby Hill is the right area to buy a house in for you.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Alby Hill is £361,535.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Alby Hill is useful when negotiating and knowing what to expect for every type of house for sale.
In Alby Hill, what are the demographics like?
In the city of Alby Hill, how much green space remains for residents?
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 Alby Hill currently has 22.1 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 Alby Hill in this case.
In general, do people commit a lot of crime in Alby Hill?
For the city of Alby Hill, crime rate is at 52. So for every 1000 people in the area, 52 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
For the city of Alby Hill, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Alby Hill is 23%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Alby Hill is £39,900.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
Have the people of Alby Hill 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 Alby Hill is 17,534.
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 Alby Hill.
In Alby Hill, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. 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 Alby Hill 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 (3%) 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.
Alby Hill population difference over 10 years?
The population has adjusted in the area of Alby Hill by 5% 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 Alby Hill.
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.
In Alby Hill, what is the social grade score?
In the city of Alby Hill 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 Alby Hill has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 20%.
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 |
How much do people in Alby Hill earn?
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 Alby Hill, the average income is £39,900. 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 20% to decide on what the demographics are like in the area.
Are the people of Alby Hill 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 24% for Alby Hill should give you a nice idea of the deprivation in the area.
Alby Hill within Norfolk is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Alby Hill will be looked at by comparing it to the local region, as well as comparing it to the wider region too (East of England). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Alby Hill.
Get professional help on the houses for sale in Alby Hill
Are you considering other cities with houses for sale?
See here below a list of cities in the same UK region of Alby Hill which is East of England. You might want to consider these as alternatives for your next real estate investment:
- Green-Tye in East of England
- Capel-St-Mary in East of England
- Aslacton in East of England
- Chelmsford in East of England
- Henlow in East of England
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
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
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Alby Hill.
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.
0 Comments