As a landlord, whenever you are looking at houses for sale in Norfolk, you could find varying prices throughout an area like Billingford. 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 Billingford 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 Billingford will be revealed. Keep reading.
Always consider average rental yield when searching for houses for sale in Billingford
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Billingford to Norfolk and the broader suburb of the UK; East of England.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Billingford||no relevant data for this city||no relevant data for this city||no relevant data for this city||14.0%|
|East of England||3.49%||£1,148||126.76%||16.58%|
Let’s assume you want to sell the house you’re looking to buy in Billingford for profit in the future, in this case, looking at the data for the number of houses sold per month in Billingford would give you an idea of whether the area is actively getting new investors. This figure is 10.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Billingford. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What is the growth in the housing market of Billingford?
Whenever you are thinking about looking for houses for sale in Billingford, 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|
|Billingford growth rate||-7%||5%||17%|
As the population of Billingford 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.
What is the asking price on average of houses for sale in Billingford?
The average asking price for the houses for sale in the city of Billingford
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£271,250|
|Average asking price (3 bed)||£376,000|
|Average asking price (4 bed)||£583,823|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Billingford and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
When investors make offers for houses for sale in Billingford, the average price asked by the homeowners works out to be £436,236.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Billingford is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In Billingford, what are the demographics like?
In the city of Billingford, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Billingford if 11,054 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Billingford such as rental yield or house appreciation.
How has the population size of Billingford adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Billingford by 7%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 7% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Billingford?
In the last decade, the population of Billingford has been adjusted by 12%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
What’s the crime rate in Billingford?
For the city of Billingford, crime rate is at 41. So for every 1000 people in the area, 41 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.
Are the deprivation levels of the UK any different to Billingford?
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 Billingford should give you a nice idea of the deprivation in the area.
How much green space is available to residents of Billingford?
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 Billingford, the city has 22.6 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 Billingford.
What is the city of Billingford’s social grade score?
In the city of Billingford 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 Billingford has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 23%.
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|
In the city of Billingford, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Norfolk for example.
These demographics for Billingford may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Billingford in East of England.
What is the education level like in Billingford?
In the city of Billingford, 22% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Billingford is £44,000.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
How much are those living in Billingford earning?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Billingford, the average income is £44,000. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 23% to decide on what the demographics are like in the area.
In general, what do houses for sale sell for in Billingford?
As well as looking at the asking price for house for sale in Billingford, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Billingford.
Houses for sale, are sold on average in Billingford, after the influence of these factors, at £312,295 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 12% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£379,348|
|Aerage sold price (semi-detached)||£233,884|
|Aerage sold price (terraced)||£214,339|
|Aerage sold price (flat)||£145,000|
This table above shows the average sale price for each variation of houses for sale in Billingford.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,660|
|Aerage sold price/sqft (new build)||£2,870|
|Aerage sold price/sqft (old stock)||£2,560|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Billingford is £2,660.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Get professional help on the houses for sale in Billingford
Invest in a house for sale that meets your demands
When browsing houses for sale in Billingford 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?
You can assess the various houses for sale offered in the area by consulting this list of cities in East of England, the same UK region as Billingford:
- Clacton-On-Sea in East of England
- Brightwell in East of England
- Benwick in East of England
- Bayford in East of England
- Briningham in East of England
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment