Whenever looking for a house for sale in the UK or in Cockthorpe, it is vital you look at the market trends and house price fluctuations in the wider area of Norfolk 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 Cockthorpe.
In this article, we will be looking at the city of Cockthorpe in detail so you know how to navigate the area and have a better understanding on where to invest.
On average, what is the figure for the asking price of a house for sale in Cockthorpe?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Cockthorpe determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £556,150.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Cockthorpe.
Table showing the asking prices for houses for sale in Cockthorpe
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Cockthorpe is £0. This should show you the general prices overall and for individual types of houses too.
In Cockthorpe, what are the rental yields?
Are there more or fewer houses being built in Cockthorpe?
Whenever you are thinking about looking for houses for sale in Cockthorpe, 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|
|Cockthorpe growth rate||9%||5%||22%|
As the population of Cockthorpe 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.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Cockthorpe to Norfolk and the broader suburb of the UK; East of England.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Cockthorpe||no relevant data for this city||no relevant data for this city||no relevant data for this city||9.0%|
|East of England||3.49%||£1,148||126.76%||16.58%|
Let’s assume you want to sell the house you’re looking to buy in Cockthorpe for profit in the future, in this case, looking at the data for the number of houses sold per month in Cockthorpe would give you an idea of whether the area is actively getting new investors. This figure is 2.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Cockthorpe. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What are the demographics like in the city of Cockthorpe?
What is the social grade score of Cockthorpe?
In the city of Cockthorpe and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Cockthorpe has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 16%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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 Cockthorpe, what is the crime rate?
For every one thousand people living in Cockthorpe, 57 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 57 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
How deprived is the population of Cockthorpe?
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 Cockthorpe is 26%.
How much green space is available to residents of Cockthorpe?
In the city of Cockthorpe, there are no relevant data for this city acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Cockthorpe is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What salary does the community in Cockthorpe take home?
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 Cockthorpe. Compare the area’s average household income of £39,400 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 16% for more conclusive data on the affluence of the area.
Cockthorpe within Norfolk is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Cockthorpe 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 Cockthorpe.
What does the population of Cockthorpe look like?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Cockthorpe is 3,067.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Cockthorpe.
In Cockthorpe, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Cockthorpe is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Cockthorpe population difference over 10 years?
The population has adjusted in the area of Cockthorpe by 4% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Cockthorpe.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
In Cockthorpe, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Cockthorpe is 22%. 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 Cockthorpe is £39,400.
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 general, what do houses for sale sell for in Cockthorpe?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Cockthorpe. In Cockthorpe, this sale price works out to be £455,367. As an example, a factor like population growth over the last 10 years which works out to be 4% in Cockthorpe and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£518,262|
|Average sold price (semi-detached)||£365,293|
|Average sold price (terraced)||£411,551|
|Average sold price (flat)||£287,569|
Above, the exact type of house is also shown to vary in price in a table in Cockthorpe. 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||£4,110|
|Average sold price/sqft (new build)||£3,220|
|Average sold price/sqft (old stock)||£3,960|
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 Cockthorpe which is £4,110. 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.