Whenever looking for a house for sale in the UK or in Belstead, it is vital you look at the market trends and house price fluctuations in the wider area of Suffolk 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 Belstead.
In this article, we will be looking at the city of Belstead in detail so you know how to navigate the area and have a better understanding on where to invest.
What kind of demographics does the city of Belstead have?
How much green space is available to residents of Belstead?
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 Belstead currently has 18.2 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 Belstead in this case.
What’s crime like in Belstead?
For the city of Belstead, crime rate is at 90. So for every 1000 people in the area, 90 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.
How much do people in Belstead earn?
While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.
£41,950 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 19% for Belstead.
What’s a social grade score and how does it relate to Belstead?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Belstead in grades A or B which are the highest skilled roles in the country is 19%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £41,950 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 19%.
Is the education level of Belstead important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 17%. The ability to buy a home is greatly influenced by the number of people who have degrees. £41,950 is the amount people in Belstead 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 Belstead, 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.
Belstead within Suffolk is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Belstead 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 Belstead.
Have the people of Belstead grown in numbers?
Population growth in Belstead 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 Belstead, 41,813 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 Belstead 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 Belstead, 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 Belstead?
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 5% in Belstead.
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.
Are the people of Belstead deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Belstead, currently, 29% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
What are the asking prices for the houses for sale in the city of Belstead?
When speaking about the city of Belstead, £309,175 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Belstead.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Average asking prices for houses for sale in Belstead
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £211,761 |
| Average asking price (3 bed) | £314,155 |
| Average asking price (4 bed) | £455,651 |
| 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 Belstead is £0. This should show you the general prices overall and for individual types of houses too.
In general, what do houses for sale sell for in Belstead?
For the city of Belstead, the average price a house sells for is £241,020. This value usually depends on the exact location of the house within Belstead as well as other factors like the population growth in Belstead which is 5% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £328,800 |
| Aerage sold price (semi-detached) | £228,366 |
| Aerage sold price (terraced) | £187,830 |
| Aerage sold price (flat) | £127,203 |
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 Belstead.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,600 |
| Aerage sold price/sqft (new build) | £2,570 |
| Aerage sold price/sqft (old stock) | £2,545 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,600. This value averages all of the types of houses for sale in Belstead. 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 Belstead.
How are rental yields of the houses for sale different to the rest of the UK in Belstead?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Belstead, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; East of England. As well as Suffolk, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Belstead | 4.1% | £804 | no relevant data for this city | 14.0% |
| Suffolk | 3.69% | £992 | 125.38% | 14.64% |
| East of England | 3.49% | £1,148 | 126.76% | 16.58% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Belstead you might be interested in the number of sales per month (27) that happen in the local housing market. Comparing this figure for Belstead with the above table gives you a good understanding of the profitability of the area.
In Belstead, how has the number of houses changed?
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 Belstead that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Belstead growth rate | 0% | 15% | 24% |
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 Belstead is important.
Who can help you buy a house for sale in Belstead?
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Belstead
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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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
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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?
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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.
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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.
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
Thinking about other cities with houses for sale?
See here below a list of cities in the same UK region of Belstead which is East of England. You might want to consider these as alternatives for your next real estate investment:
- Croft in East of England
- Alburgh in East of England
- Crownthorpe in East of England
- Weeting in East of England
- Prittlewell 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.
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