As a landlord, whenever you are looking at houses for sale in Lincolnshire, you could find varying prices throughout an area like Boston. 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 Boston 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 Boston will be revealed. Keep reading.
What is the asking price on average of houses for sale in Boston?
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.
On average, in Boston, the asking price for a house for sale in the area is £205,674.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Boston. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
What are the demographics like in the city of Boston?
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|
Is the crime rate bad in the city of Boston?
The crime rate of Boston must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 136, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (136) is both useful and is recommended to be compared to the average.
Located in Lincolnshire is the city of Boston, in a large part of the UK; East of England. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Boston has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Boston which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
For the city of Boston, what is the education level?
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.
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.
In the city of Boston, how much green space remains for residents?
Whether you view green space in Boston 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 Boston, the number of acres of green space for every 1000 people currently is 9.9 which can be measured against the UK average of 1.7.
Are the people of Boston deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Boston, currently, 31% 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 salary does the community in Boston take home?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (10%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Boston, this works out to be £32,500. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Boston, has the population grown or shrunk?
In total, the number of people in Boston is 42,839. 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 Boston, depending on where exactly you are.
How has Boston 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 Boston has changed by 6%. 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 6% 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 Boston?
10% 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 Boston 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.
In general, for the city of Boston, what are the final purchase prices for the houses for sale?
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.
Always consider average rental yield when searching for houses for sale in Boston
What is the growth in the housing market of Boston?
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 Boston that shows the growth in recent years.
|1 year||3 years||5 years|
|Boston growth rate||-3%||8%||19%|
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 Boston is important.
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 Boston.
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)|
|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 Boston which is 34 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 Boston is to invest in. Both in terms of rental yield and capital appreciation.