Bourne can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Bourne.
On top of this, keep reading for detailed information on the demographics of Bourne in Lincolnshire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
In Bourne, what are the rental yields?
Are there more or fewer houses being built in Bourne?
Whenever you are thinking about looking for houses for sale in Bourne, 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|
|Bourne growth rate||1%||15%||23%|
As the population of Bourne 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.
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 Bourne. 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 Bourne.
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, Bourne.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Bourne||3.5%||£848||no relevant data for this city||13.0%|
|East of England||3.49%||£1,148||126.76%||16.58%|
You may also find it useful to compare the data above to the number of properties sold per month Bourne experiences. This figure for house sales per month is 23. 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.
What are the demographics like in the city of Bourne?
Located in Lincolnshire is the city of Bourne, 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 Bourne 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 Bourne 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.
What is the education level like in Bourne?
The number of people as a percentage who have been through university and gained a degree is 34%. The ability to buy a home is greatly influenced by the number of people who have degrees. £44,500 is the amount people in Bourne are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Bourne, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In the city of Bourne, is there a lot of green space?
Whether you view green space in Bourne 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 Bourne, the number of acres of green space for every 1000 people currently is 10.9 which can be measured against the UK average of 1.7.
How deprived is the population of Bourne?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Bourne is 22%.
What’s the crime rate in Bourne?
Within Bourne, the number of people committing crimes is 59 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 59 figure carefully.
Have the people of Bourne grown in numbers?
The city of Bourne has a total population of 22,032. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Bourne is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Bourne
Over time, in the last five years, the population of the city of Bourne has changed by 3%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 3% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Bourne?
In the last 10 years, there has been a shift in the population of 8%.
Comparing this to the 5 year figure of Bourne can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
What is a social grade score and how does this relate to Bourne?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Bourne in grades A or B which are the highest skilled roles in the country is 25%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £44,500 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 25%.
How much are those living in Bourne 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 Bourne, the average income is £44,500. 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 25% to decide on what the demographics are like in the area.
On average, what is the figure for the asking price of a house for sale in Bourne?
The average asking price for the houses for sale in the city of Bourne
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£190,901|
|Average asking price (3 bed)||£268,035|
|Average asking price (4 bed)||£387,967|
|Average asking price (5 bed)||£642,075|
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Bourne is the right area to buy a house in for you.
When investors make offers for houses for sale in Bourne, the average price asked by the homeowners works out to be £294,878.
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 Bourne 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 general, what do houses for sale sell for in Bourne?
In Bourne, houses for sale are sold at an average of £231,784. 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 Bourne. 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)||£277,546|
|Aerage sold price (semi-detached)||£186,073|
|Aerage sold price (terraced)||£174,519|
|Aerage sold price (flat)||£122,360|
As you can see above, for Bourne, 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 8% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,280|
|Aerage sold price/sqft (new build)||£2,140|
|Aerage sold price/sqft (old stock)||£2,190|
Looking at the second table about Bourne, 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 Bourne is £2,280.
Invest in houses for sale in Bourne with the right professional advice
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Bourne.
Reading these analysis will help you evaluate the different houses for sale currently listed in East of England:
- Braintree in East of England
- Henlow in East of England
- Bottisham in East of England
- Hellesdon in East of England
- Capel-St-Mary in East of England
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
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 that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bourne
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.