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How much does a house for sale cost in Chapelgate?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ How much does a house for sale cost in Chapelgate?

Whenever looking for a house for sale in the UK or in Chapelgate, 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 Chapelgate.

In this article, we will be looking at the city of Chapelgate in detail so you know how to navigate the area and have a better understanding on where to invest.

In Chapelgate, what are the demographics like?

What does the population of Chapelgate look like?

Population growth in Chapelgate is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Chapelgate, 39,783 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Chapelgate in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Chapelgate, this change has been 5%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 5%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Chapelgate?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 9% in Chapelgate.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

How much are those living in Chapelgate earning?

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 £35,100.

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 Chapelgate this figure is 13%.

What is the education level like in Chapelgate?

Interestingly, the percentage of people who have a degree in the city of Chapelgate is 15%. 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 Chapelgate is £35,100.

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.

Located in Lincolnshire is the city of Chapelgate, 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 Chapelgate 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 Chapelgate 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 city of Chapelgate’s social grade score?

In the city of Chapelgate, the social grade score of the area is 13%. 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 Chapelgate.

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 Chapelgate, how much green space remains for residents?

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 Chapelgate, 9.1 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 Chapelgate.

How deprived is the population of Chapelgate?

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 29% for Chapelgate should give you a nice idea of the deprivation in the area.

In Chapelgate, what is the crime rate?

For the city of Chapelgate, crime rate is at 73. So for every 1000 people in the area, 73 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.

Always consider average rental yield when searching for houses for sale in Chapelgate

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Chapelgate, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; East of England. As well as Lincolnshire, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Chapelgate 3.0% £761 89% 13.0%
Lincolnshire 3.97% £689 100.56% 15.86%
East of England 3.49% £1,148 126.76% 16.58%

Assuming that in the future you want to re-sell the house you will eventually purchased in Chapelgate you might be interested in the number of sales per month (39) that happen in the local housing market. Comparing this figure for Chapelgate with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Chapelgate?

Before committing to Chapelgate to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Chapelgate growth rate 3% 21% 31%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Chapelgate is building housing to find your answer.

In general, for the city of Chapelgate, what are the final purchase prices for the houses for sale?

As well as looking at the asking price for house for sale in Chapelgate, 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 Chapelgate.

Houses for sale, are sold on average in Chapelgate, after the influence of these factors, at £208,120 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 9% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £235,079
Aerage sold price (semi-detached) £157,252
Aerage sold price (terraced) £127,043
Aerage sold price (flat) £85,723

This table above shows the average sale price for each variation of houses for sale in Chapelgate.

Housing category Sale price per square foot
Aerage sold price/sqft £1,970
Aerage sold price/sqft (new build) £2,020
Aerage sold price/sqft (old stock) £1,870

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 Chapelgate is £2,280.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

On average, what is the figure for the asking price of a house for sale in Chapelgate?

The average asking price for the houses for sale in the city of Chapelgate

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £202,303
Average asking price (3 bed) £281,898
Average asking price (4 bed) £419,588
Average asking price (5 bed) £485,781

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £2,590. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Chapelgate has a lack of supply of housing in certain categories.

When investors make offers for houses for sale in Chapelgate, the average price asked by the homeowners works out to be £299,604.

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 Chapelgate 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.

Invest in houses for sale in Chapelgate with the right professional advice

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

A house for sale that is right for you

When browsing houses for sale in Chapelgate 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.

Other cities you can consider looking for with houses for sale

See here below a list of cities in the same UK region of Chapelgate which is East of England. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

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