As a landlord, whenever you are looking at houses for sale in Cambridgeshire, you could find varying prices throughout an area like Benwick. 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 Benwick 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 Benwick will be revealed. Keep reading.
Always consider average rental yield when searching for houses for sale in Benwick
Is the housing market in Benwick growing?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Benwick at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Benwick growth rate | no relevant data for this city | 12% | 25% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Benwick gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Benwick.
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 Benwick.
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 (Cambridgeshire) as well as the broader region; East of England.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Benwick | 3.3% | £806 | no relevant data for this city | 16.0% |
| Cambridgeshire | 3.51% | £1,154 | 130.11% | 17.65% |
| 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 Benwick which is 30 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 Benwick is to invest in. Both in terms of rental yield and capital appreciation.
Asking price in Benwick 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 Benwick 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 £292,635.
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 Benwick.
Table showing the asking prices for houses for sale in Benwick
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £226,500 |
| Average asking price (3 bed) | £281,910 |
| Average asking price (4 bed) | £407,500 |
| Average asking price (5 bed) | £472,398 |
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 Benwick is £0. This should show you the general prices overall and for individual types of houses too.
What are the people like in Benwick?
Benwick within Cambridgeshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Benwick 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 Benwick.
For the city of Benwick, what is the education level?
In the city of Benwick, 15% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Benwick is £39,500. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
In Benwick, how has the population changed?
In total, the number of people in Benwick is 29,866. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Benwick, depending on where exactly you are.
How has Benwick changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Benwick has changed by 3%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Benwick?
7% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Benwick have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Is the crime rate bad in the city of Benwick?
Within Benwick, the number of people committing crimes is 87 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 87 figure carefully.
Are the people of Benwick deprived?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Benwick is 28% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
How much green space is available to residents of Benwick?
Whether you view green space in Benwick as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Benwick, the number of acres of green space for every 1000 people currently is 8.2 which can be measured against the UK average of 1.7.
What’s a social grade score and how does it relate to Benwick?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Benwick compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Benwick, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 14%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| 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 |
Are the people in Benwick earning a lot?
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.
£39,500 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 14% for Benwick.
In general, for the city of Benwick, what are the final purchase prices for the houses for sale?
In Benwick, houses for sale are sold at an average of £220,356. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Benwick. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £263,767 |
| Aerage sold price (semi-detached) | £182,021 |
| Aerage sold price (terraced) | £152,153 |
| Aerage sold price (flat) | £90,471 |
As you can see above, for Benwick, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 7% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,210 |
| Aerage sold price/sqft (new build) | £2,230 |
| Aerage sold price/sqft (old stock) | £2,110 |
Looking at the second table about Benwick, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Benwick is £2,210.
Professional advice for houses for sale in Benwick
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
houses for sale in other cities in the UK
Examine this short list of cities belonging to East of England, the same region where Benwick is located.
- Lilley in East of England
- Bale in East of England
- Dagnall in East of England
- Brettenham in East of England
- Bidwell 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
When browsing houses for sale in Benwick you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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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.
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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.
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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
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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.
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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
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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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.
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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.
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