What is it like buying a house in Althorne?

by | Nov 15, 2022

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Althorne 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 Althorne.

On top of this, keep reading for detailed information on the demographics of Althorne in Essex. 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.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Althorne. In Althorne, this sale price works out to be £400,415. As an example, a factor like population growth over the last 10 years which works out to be 7% in Althorne and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £499,663
Average sold price (semi-detached) £345,451
Average sold price (terraced) £281,273
Average sold price (flat) £176,732

Above, the exact type of house is also shown to vary in price in a table in Althorne. 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 £3,740
Average sold price/sqft (new build) £3,850
Average sold price/sqft (old stock) £3,630

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 Althorne which is £4,100. 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 are the demographics like in the city of Althorne?

Althorne in the county of Essex 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 Althorne 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 Althorne, 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.

Do the people of Althorne get to enjoy green space?

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 Althorne, the city has 33.2 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 Althorne.

What is the population of Althorne?

The city of Althorne has a total population of 53,817. 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 Althorne 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 Althorne

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

In the last 10 years, there has been a shift in the population of 7%.

Comparing this to the 5 year figure of Althorne 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.

Are the people in Althorne earning a lot?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Althorne. Compare the area’s average household income of £50,700 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 28% for more conclusive data on the affluence of the area.

Are the people of Althorne 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 19% for Althorne should give you a nice idea of the deprivation in the area.

What’s crime like in Althorne?

For every one thousand people living in Althorne, 68 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 68 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

What is the social grade score of Althorne?

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 Althorne, the percentage of people in the two highest categories, A and B is 28%. 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 £50,700. This income will generally get bigger as the percentage of people in the A and B categories go up too (28%).

How educated are the people in Althorne?

In Althorne, 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 Althorne is £50,700.

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.

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

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Althorne. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Althorne.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Essex), a regional level (East of England) and finally on the level of the city talked about in this article, Althorne.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Althorne 3.1% £1,315 140% 16.0%
Essex 3.51% £1,237 125.97% 17.61%
East of England 3.49% £1,148 126.76% 16.58%

You may also find it useful to compare the data above to the number of properties sold per month Althorne experiences. This figure for house sales per month is 39. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Is the housing market in Althorne growing?

Whenever you are thinking about looking for houses for sale in Althorne, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Althorne growth rate 1% 9% 15%

As the population of Althorne grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

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

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 Althorne 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 £512,777.

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 Althorne.

Average asking prices for houses for sale in Althorne

Average asking price (1 bed) £202,299
Average asking price (2 bed) £331,258
Average asking price (3 bed) £444,426
Average asking price (4 bed) £648,499
Average asking price (5 bed) £893,391

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 £4,450. 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 Althorne has a lack of supply of housing in certain categories.