What is it like buying a house in Elsenham?

Elsenham might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Essex.
Before looking for a house for sale in the city of Elsenham we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Elsenham.

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

When speaking about the city of Elsenham, £594,203 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Elsenham.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Table showing the asking prices for houses for sale in Elsenham

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) £468,648
Average asking price (4 bed) £647,258
Average asking price (5 bed) £966,875

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Elsenham and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

Are there any important statistics about the population of Elsenham?

What’s the crime rate in Elsenham?

For the city of Elsenham, crime rate is at 86. So for every 1000 people in the area, 86 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.

Are the people of Elsenham deprived?

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 Elsenham, in particular, the deprivation levels are 16%.

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

What is the education level like in Elsenham?

The number of people as a percentage who have been through university and gained a degree is 30%. The ability to buy a home is greatly influenced by the number of people who have degrees. £51,900 is the amount people in Elsenham 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 Elsenham, 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 Elsenham, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Essex for example.

These demographics for Elsenham may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Elsenham in East of England.

What is the population of Elsenham?

Population growth in Elsenham 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 Elsenham, 13,712 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 Elsenham 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 Elsenham, this change has been 8%. 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 8%. Click here to know more on the UK population trends.

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

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 17% in Elsenham.

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.

Is there sufficient green space in Elsenham?

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 Elsenham currently has 90.7 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 Elsenham in this case.

Are the people in Elsenham earning a lot?

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 Elsenham, the average income is £51,900. 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 29% to decide on what the demographics are like in the area.

In Elsenham, what is the social grade score?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Elsenham compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Elsenham, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 29%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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 Elsenham, what are the final purchase prices for the houses for sale?

For the city of Elsenham, the average price a house sells for is £478,909. This value usually depends on the exact location of the house within Elsenham as well as other factors like the population growth in Elsenham which is 17% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £558,722
Aerage sold price (semi-detached) £381,296
Aerage sold price (terraced) £314,910
Aerage sold price (flat) £204,970

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Elsenham.

Housing category Sale price per square foot
Aerage sold price/sqft £3,760
Aerage sold price/sqft (new build) £3,620
Aerage sold price/sqft (old stock) £3,670

Generalising the bottom table, the average value per square foot of a house for sale is £3,760. This value averages all of the types of houses for sale in Elsenham. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Elsenham.

What’s the rental yield in general for the city of Elsenham?

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 Elsenham, 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 Essex, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Elsenham no relevant data for this city no relevant data for this city no relevant data for this city 10.0%
Essex 3.51% £1,237 125.97% 17.61%
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 Elsenham you might be interested in the number of sales per month (10) that happen in the local housing market. Comparing this figure for Elsenham with the above table gives you a good understanding of the profitability of the area.

Is the housing market in Elsenham growing?

Whenever you are thinking about looking for houses for sale in Elsenham, 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
Elsenham growth rate 8% 14% 27%

As the population of Elsenham 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.

Professional advice for houses for sale in Elsenham

Are you considering other cities with houses for sale?

Examine this short list of cities belonging to East of England, the same region where Elsenham is located.

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

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

Invest in a house for sale that meets your demands

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Elsenham.

  • Affordability – check this article from the UK government to find out (see what house for sale you can afford)

  • Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.

  • Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.

  • Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.

  • EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.

  • Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale

  • Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month

  • Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.