Whenever looking for a house for sale in the UK or in Boston, it is vital you look at the market trends and house price fluctuations in the wider area of Lincolnshire 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 Boston.
In this article, we will be looking at the city of Boston in detail so you know how to navigate the area and have a better understanding on where to invest.
Professional advice for houses for sale in Boston
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
In general, what do houses for sale sell for in Boston?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Boston. In Boston, this sale price works out to be £163,057. As an example, a factor like population growth over the last 10 years which works out to be 10% in Boston and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£205,215|
|Average sold price (semi-detached)||£139,068|
|Average sold price (terraced)||£115,389|
|Average sold price (flat)||£91,673|
Above, the exact type of house is also shown to vary in price in a table in Boston. 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||£1,670|
|Average sold price/sqft (new build)||£1,780|
|Average sold price/sqft (old stock)||£1,590|
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 Boston which is £1,670. 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 Boston?
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Boston. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Boston.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Lincolnshire), a regional level (East of England) and finally on the level of the city talked about in this article, Boston.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|East of England||0.03||1,148.32||£1||16.58%|
You may also find it useful to compare the data above to the number of properties sold per month Boston experiences. This figure for house sales per month is 29. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Is the housing market in Boston growing?
Whenever you are thinking about looking for houses for sale in Boston, 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|
|Boston growth rate||-3%||8%||19%|
As the population of Boston 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.
Are you considering other cities with houses for sale?
If you are looking for a list of cities that are different to the City of Boston and in different UK region to East of England. You might want to consider these as alternatives for your next real estate investment:
- greenwich in East of England
- backford in East of England
- balmerino in East of England
- abbotts-ann in East of England
- longbenton in East of England
Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.
In Boston, what are the demographics like?
Boston within Lincolnshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Boston 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 Boston.
What is the education level like in Boston?
Interestingly, the percentage of people who have a degree in the city of Boston is 14%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Boston is £32,500.00.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
What is a social grade score and how does this relate to Boston?
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 Boston 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 Boston, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 10%.
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|
In Boston, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Boston if 42839 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 Boston such as rental yield or house appreciation.
How has the population size of Boston adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Boston by 6%. 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 6% 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 Boston?
In the last decade, the population of Boston has been adjusted by 10%. 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.
In the city of Boston, how much green space remains for residents?
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 Boston currently has 10 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 Boston in this case.
How much do people in Boston earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £32,500.00.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Boston this figure is 10%.
In Boston, what is the crime rate?
Within Boston, the number of people committing crimes is 13600% 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 13600% figure carefully.
Is the city of Boston deprived?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Boston, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In Boston, what is the asking price in general for a house for sale?
When investors make offers for houses for sale in Boston, the average price asked by the homeowners works out to be £205,674.
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 Boston 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.
Table showing the asking prices for houses for sale in Boston
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£140,389|
|Average asking price (3 bed)||£212,429|
|Average asking price (4 bed)||£322,537|
|Average asking price (5 bed)||£309,988|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Boston 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.
A house for sale appropriate to your needs
Many criteria impact the price of houses for sale in Boston.
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.