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A guide on houses for sale in Eastwood

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ A guide on houses for sale in Eastwood

Whenever looking for a house for sale in the UK or in Eastwood, it is vital you look at the market trends and house price fluctuations in the wider area of Essex 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 Eastwood.

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

What are the people like in Eastwood?

In the city of Eastwood, is there a lot of green space?

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Eastwood currently has 23.2 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Eastwood in this case.

What’s the crime rate in Eastwood?

For the city of Eastwood, 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.

Eastwood in the county of Essex 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 Eastwood 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 Eastwood, 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.

In Eastwood, what are the deprivation levels like?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Eastwood, in particular, the deprivation levels are 22%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

How much do people in Eastwood 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 Eastwood. Compare the area’s average household income of £45,100 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 26% for more conclusive data on the affluence of the area.

What is the population of Eastwood?

The city of Eastwood has a total population of 49,984. 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 Eastwood 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 Eastwood

Over time, in the last five years, the population of the city of Eastwood has changed by 2%. 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 2% 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 Eastwood?

In the last 10 years, there has been a shift in the population of 6%.

Comparing this to the 5 year figure of Eastwood 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 the education level like in Eastwood?

Interestingly, the percentage of people who have a degree in the city of Eastwood is 24%. 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 Eastwood is £45,100.

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.

What is a social grade score and how does this relate to Eastwood?

In the city of Eastwood 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 Eastwood has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 26%.

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 general, for the city of Eastwood, 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 Eastwood. In Eastwood, this sale price works out to be £376,701. As an example, a factor like population growth over the last 10 years which works out to be 6% in Eastwood and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £492,129
Average sold price (semi-detached) £382,931
Average sold price (terraced) £373,497
Average sold price (flat) £243,382

Above, the exact type of house is also shown to vary in price in a table in Eastwood. 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 £4,020
Average sold price/sqft (new build) £4,000
Average sold price/sqft (old stock) £3,910

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 Eastwood which is £4,330. 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.

Why you should consider the average rental yield when searching for houses for sale in Eastwood

Are there more or fewer houses being built in Eastwood?

Whenever you are thinking about looking for houses for sale in Eastwood, 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
Eastwood growth rate 4% 18% 26%

As the population of Eastwood 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 Eastwood. 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 Eastwood.

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 (Essex), a regional level (East of England) and finally on the level of the city talked about in this article, Eastwood.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Eastwood 3.3% £1,221 140% 23.0%
Essex 3.51% £1,237 125.97% 17.61%
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 Eastwood experiences. This figure for house sales per month is 54. 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.

Asking price in Eastwood for a house for sale

Table showing the asking prices for houses for sale in Eastwood

Average asking price (1 bed) £232,955
Average asking price (2 bed) £350,057
Average asking price (3 bed) £484,165
Average asking price (4 bed) £648,666
Average asking price (5 bed) £842,499

After looking at this table about prices of houses for sale in Eastwood, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market 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 £4,640 will help them to have a more wholistic understanding.

When investors make offers for houses for sale in Eastwood, the average price asked by the homeowners works out to be £448,538.

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 Eastwood 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.

Advice from experts on properties for sale in Eastwood

House for sale in the same UK region

We have prepared a list of cities in East of England, the same UK region of Eastwood that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.

A house for sale that is right for you

Many criteria impact the price of houses for sale in Eastwood.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

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