How much will you pay for a house for sale in Benington?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ How much will you pay for a house for sale in Benington?

Benington 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 Lincolnshire.
Before looking for a house for sale in the city of Benington 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 Benington.

What’s the rental yield in general for the city of Benington?

Are there more or fewer houses being built in Benington?

Whenever you are thinking about looking for houses for sale in Benington, 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
Benington growth rate 16% 35% 40%

As the population of Benington 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.

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 Benington.

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 (Lincolnshire) as well as the broader region; East of England.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Benington no relevant data for this city no relevant data for this city no relevant data for this city 12.0%
Lincolnshire 3.97% £689 100.56% 15.86%
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 Benington which is 13 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 Benington is to invest in. Both in terms of rental yield and capital appreciation.

What kind of demographics does the city of Benington have?

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

In the below headings, the city of Benington 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 Benington. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What is the education level like in Benington?

In Benington, the proportion of people who have a degree is 15%. 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 Benington is £34,700.

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.

In Benington, how has the population changed?

Population growth in Benington 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 Benington, 16,810 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 Benington 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 Benington, this change has been 4%. 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 4%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Benington?

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 7% in Benington.

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.

Is there sufficient green space in Benington?

In the city of Benington, there are 15.9 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 Benington is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What is the social grade score of Benington?

In the city of Benington 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 Benington has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 15%.

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

What’s crime like in Benington?

In Benington, for every 1000 people, there is currently a crime rate of 55. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (55 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

How deprived is the population of Benington?

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 30% for Benington should give you a nice idea of the deprivation in the area.

How much do people in Benington 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.

£34,700 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 15% for Benington.

What are the asking prices for the houses for sale in the city of Benington?

In the city of Benington, 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) £188,197
Average asking price (3 bed) £271,956
Average asking price (4 bed) £387,202
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 Benington is £0. This should show you the general prices overall and for individual types of houses too.

When speaking about the city of Benington, £285,020 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 Benington.

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.

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

In Benington, the average sale price of a house for sale is in fact £209,148. This is dependent on the 10 year population growth of Benington being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Benington.

Housing category Total final sale price
Aerage sold price (detached) £220,937
Aerage sold price (semi-detached) £147,066
Aerage sold price (terraced) £132,382
Aerage sold price (flat) no relevant data for this city

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 Benington.

Housing category Sale price per square foot
Aerage sold price/sqft £1,790
Aerage sold price/sqft (new build) £2,010
Aerage sold price/sqft (old stock) £1,710

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 £1,790. This means if you are just looking out the houses sold in Benington in general and didn’t take into consideration the type of build. For example, a new build.

Get professional help on the houses for sale in Benington

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

  • Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
  • Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
  • Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
  • Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
  • Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
  • EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial

A house for sale appropriate to your needs

When browsing houses for sale in Benington you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • 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.

Thinking about other cities with houses for sale?

See here below a list of cities in the same UK region of Benington which is East of England. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.