Bale might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Norfolk.
Before looking for a house for sale in the city of Bale we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Bale.
In general, what do houses for sale sell for in Bale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Bale. In Bale, this sale price works out to be £248,195. As an example, a factor like population growth over the last 10 years which works out to be 4% in Bale and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£322,352|
|Average sold price (semi-detached)||£205,749|
|Average sold price (terraced)||£187,390|
|Average sold price (flat)||£127,851|
Above, the exact type of house is also shown to vary in price in a table in Bale. 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||£2,560|
|Average sold price/sqft (new build)||£2,830|
|Average sold price/sqft (old stock)||£2,440|
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 Bale which is £2,560. 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.
How are rental yields of the houses for sale different to the rest of the UK in Bale?
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 Bale 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 Bale.
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)|
|Bale||3.3%||£933||no relevant data for this city||13.0%|
|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 Bale.
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 (12) will be useful.
What is the growth in the housing market of Bale?
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 Bale that shows the growth in recent years.
|1 year||3 years||5 years|
|Bale growth rate||2%||26%||26%|
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 Bale is important.
What are the asking prices for the houses for sale in the city of Bale?
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 Bale 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 £343,455.
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 Bale.
In the city of Bale, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£229,227|
|Average asking price (3 bed)||£343,461|
|Average asking price (4 bed)||£519,056|
|Average asking price (5 bed)||no relevant data for this city|
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 Bale is £0. This should show you the general prices overall and for individual types of houses too.
What are the people like in Bale?
In Bale, how has the population changed?
Population growth in Bale 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 Bale, 15,893 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 Bale 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 Bale, this change has been 2%. 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 2%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Bale?
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 4% in Bale.
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.
In Bale, how educated are people in general?
In Bale, the proportion of people who have a degree is 21%. 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 Bale is £38,300.
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.
In Bale, what are the deprivation levels like?
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 23% for Bale should give you a nice idea of the deprivation in the area.
In general, do people commit a lot of crime in Bale?
The crime rate of Bale 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 69, 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 (69) is both useful and is recommended to be compared to the average.
What’s a social grade score and how does it relate to Bale?
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 Bale, the percentage of people in the two highest categories, A and B is 16%. 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 £38,300. This income will generally get bigger as the percentage of people in the A and B categories go up too (16%).
How much are those living in Bale earning?
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 Bale. Compare the area’s average household income of £38,300 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 16% for more conclusive data on the affluence of the area.
In the city of Bale, how much green space remains for residents?
In the city of Bale, there are 20.3 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Bale is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Bale 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, Bale 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 Bale.
Professional advice for houses for sale in Bale
Other cities you can consider looking for with houses for sale
Examine this short list of cities belonging to East of England, the same region where Bale is located.
- Bayford in East of England
- Carlton-Colville in East of England
- Alburgh in East of England
- Ashmanhaugh in East of England
- Bardfield-Saling in East of England
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Bale.
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.
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