As a landlord, whenever you are looking at houses for sale in Hertfordshire, you could find varying prices throughout an area like Bricket Wood. 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 Bricket Wood 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 Bricket Wood will be revealed. Keep reading.
What are the asking prices for the houses for sale in the city of Bricket Wood?
On average, in Bricket Wood, the asking price for a house for sale in the area is £610,441.
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 Bricket Wood. 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.
In the city of Bricket Wood, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£421,499|
|Average asking price (3 bed)||£622,399|
|Average asking price (4 bed)||£784,285|
|Average asking price (5 bed)||£1,141,994|
After looking at this table about prices of houses for sale in Bricket Wood, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £4,740 will help them to have a more holistic understanding.
What is the final sale price of a house in Bricket Wood?
As well as looking at the asking price for house for sale in Bricket Wood, 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 Bricket Wood.
Houses for sale, are sold on average in Bricket Wood, after the influence of these factors, at £495,647 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 7% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£682,447|
|Aerage sold price (semi-detached)||£522,362|
|Aerage sold price (terraced)||£417,362|
|Aerage sold price (flat)||£262,696|
This table above shows the average sale price for each variation of houses for sale in Bricket Wood.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£4,790|
|Aerage sold price/sqft (new build)||£5,020|
|Aerage sold price/sqft (old stock)||£4,690|
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 Bricket Wood is £4,760.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Invest in a house for sale that meets your demands
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bricket Wood
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.
What kind of demographics does the city of Bricket Wood have?
Is there sufficient green space in Bricket Wood?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Bricket Wood, 19.1 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Bricket Wood.
Bricket Wood in the county of Hertfordshire is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Bricket Wood is located in; East of England.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Bricket Wood, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
Have the people of Bricket Wood grown in numbers?
In total, the number of people in Bricket Wood is 23,314. 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 Bricket Wood, depending on where exactly you are.
How has Bricket Wood 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 Bricket Wood has changed by 2%. 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 2% 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 Bricket Wood?
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 Bricket Wood 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.
What’s a social grade score and how does it relate to Bricket Wood?
In the city of Bricket Wood, the social grade score of the area is 32%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Bricket Wood.
|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 Bricket Wood, what are the deprivation levels like?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bricket Wood, currently, 18% 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.
Is the crime rate bad in the city of Bricket Wood?
Within Bricket Wood, the number of people committing crimes is 78 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 78 figure carefully.
How much do people in Bricket Wood earn?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Bricket Wood. Compare the area’s average household income of £51,800 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 32% for more conclusive data on the affluence of the area.
Is the education level of Bricket Wood important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 36%. The ability to buy a home is greatly influenced by the number of people who have degrees. £51,800 is the amount people in Bricket Wood 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 Bricket Wood, 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.
Other cities in different locations you can consider to buy property
If you are looking for similar places to buy a house that are just like Bricket Wood, examine this short list of cities below from outside of the region of East of England for some inspiration.
- Cippenham in East of England
- Alltwen in East of England
- Newton in East of England
- Boughton in East of England
- Chineham in East of England
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Invest in houses for sale in Bricket Wood with the right professional advice
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
Always consider average rental yield when searching for houses for sale in Bricket Wood
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 Bricket Wood. 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 Bricket Wood.
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 (Hertfordshire), a regional level (East of England) and finally on the level of the city talked about in this article, Bricket Wood.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|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 Bricket Wood experiences. This figure for house sales per month is 22. 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 Bricket Wood growing?
Whenever you are thinking about looking for houses for sale in Bricket Wood, 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|
|Bricket Wood growth rate||3%||9%||9%|
As the population of Bricket Wood 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.