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What is it like buying a house in Aldham?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ What is it like buying a house in Aldham?

As a landlord, whenever you are looking at houses for sale in Suffolk, you could find varying prices throughout an area like Aldham. 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 Aldham 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 Aldham will be revealed. Keep reading.

What are the demographics like in the city of Aldham?

How much green space is available to residents of Aldham?

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 Aldham currently has 24.9 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 Aldham in this case.

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

In the city of Aldham, the social grade score of the area is 29%. 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 Aldham.

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

In Aldham, what is the crime rate?

Within Aldham, the number of people committing crimes is 48 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 48 figure carefully.

In the city of Aldham, has the population grown or shrunk?

The city of Aldham has a total population of 45,289. 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 Aldham 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 Aldham

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

In the last 10 years, there has been a shift in the population of 8%.

Comparing this to the 5 year figure of Aldham 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 much do people in Aldham earn?

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 (29%). 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 Aldham, this works out to be £46,050. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

The city of Aldham, situated in Suffolk, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Aldham and its demographics will be compared to its wider location (East of England). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Aldham. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Are the people of Aldham deprived?

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 Aldham, in particular, the deprivation levels are 17%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

In Aldham, how educated are people in general?

The number of people as a percentage who have been through university and gained a degree is 30%. The ability to buy a home is greatly influenced by the number of people who have degrees. £46,050 is the amount people in Aldham 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 Aldham, 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.

In Aldham, what is the asking price in general for a house for sale?

Table showing the asking prices for houses for sale in Aldham

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £293,293
Average asking price (3 bed) £391,988
Average asking price (4 bed) £581,565
Average asking price (5 bed) £808,950

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Aldham is £2,020. This should show you the general prices overall and for individual types of houses too.

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 Aldham is £447,472.

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 Aldham is useful when negotiating and knowing what to expect for every type of house for sale.

In general, for the city of Aldham, what are the final purchase prices for the houses for sale?

For the city of Aldham, the average price a house sells for is £345,194. This value usually depends on the exact location of the house within Aldham as well as other factors like the population growth in Aldham which is 8% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £429,073
Aerage sold price (semi-detached) £282,327
Aerage sold price (terraced) £241,252
Aerage sold price (flat) £189,710

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Aldham.

Housing category Sale price per square foot
Aerage sold price/sqft £3,160
Aerage sold price/sqft (new build) £3,635
Aerage sold price/sqft (old stock) £3,060

Generalising the bottom table, the average value per square foot of a house for sale is £3,345. This value averages all of the types of houses for sale in Aldham. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Aldham.

Why you should consider the average rental yield when searching for houses for sale in Aldham

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 Aldham to Suffolk and the broader suburb of the UK; East of England.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Aldham 3.0% £1,227 no relevant data for this city 10.5%
Suffolk 3.69% £992 125.38% 14.64%
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 Aldham for profit in the future, in this case, looking at the data for the number of houses sold per month in Aldham would give you an idea of whether the area is actively getting new investors. This figure is 30.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Aldham. 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.

Is the housing market in Aldham growing?

Before committing to Aldham to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Aldham growth rate 4% 23% 17%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Aldham is building housing to find your answer.

Who can help you buy a house for sale in Aldham?

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 of England, the same UK region as Aldham:

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

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

Finding the ideal house for sale for you

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 Aldham.

  • 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.

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