Great Parndon 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 Great Parndon 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 Great Parndon.
In general, for the city of Great Parndon, what are the final purchase prices for the houses for sale?
In Great Parndon, the average sale price of a house for sale is in fact £302,118. This is dependent on the 10 year population growth of Great Parndon being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Great Parndon.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£602,278|
|Aerage sold price (semi-detached)||£370,545|
|Aerage sold price (terraced)||£277,927|
|Aerage sold price (flat)||£169,077|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Great Parndon.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,380|
|Aerage sold price/sqft (new build)||£3,650|
|Aerage sold price/sqft (old stock)||£3,330|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £3,380. This means if you are just looking out the houses sold in Great Parndon in general and didn’t take into consideration the type of build. For example, a new build.
In Great Parndon, what is the asking price in general for a house for sale?
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 Great Parndon 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 £379,493.
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 Great Parndon.
Average price of houses for sale in Great Parndon
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£294,737|
|Average asking price (3 bed)||£369,321|
|Average asking price (4 bed)||£592,000|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Great Parndon 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.
What are the demographics like in the city of Great Parndon?
How educated are the people in Great Parndon?
The number of people as a percentage who have been through university and gained a degree is 19%. The ability to buy a home is greatly influenced by the number of people who have degrees. £42,000 is the amount people in Great Parndon 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 Great Parndon, 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.
The city of Great Parndon, situated in Essex, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Great Parndon and its demographics will be compared to its wider location (East of England). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Great Parndon. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How much green space is available to residents of Great Parndon?
Whether you view green space in Great Parndon as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Great Parndon, the number of acres of green space for every 1000 people currently is 22.0 which can be measured against the UK average of 1.7.
In the city of Great Parndon, has the population grown or shrunk?
Population growth in Great Parndon 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 Great Parndon, 19,307 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 Great Parndon 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 Great Parndon, this change has been 2%. 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 2%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Great Parndon?
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 7% in Great Parndon.
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.
What’s crime like in Great Parndon?
The crime rate of Great Parndon must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 114, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (114) is both useful and is recommended to be compared to the average.
Are the people in Great Parndon earning a lot?
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 £42,000.
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 Great Parndon this figure is 15%.
In Great Parndon, what is the social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Great Parndon, the percentage of people in the two highest categories, A and B is 15%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £42,000. This income will generally get bigger as the percentage of people in the A and B categories go up too (15%).
In Great Parndon, what are the deprivation levels like?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Great Parndon, currently, 26% 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.
What’s the rental yield in general for the city of Great Parndon?
Are there new houses being built in Great Parndon to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Great Parndon at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Great Parndon growth rate||4%||19%||16%|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Great Parndon gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Great Parndon.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Great Parndon this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East of England) alongside Essex then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Great Parndon.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Great Parndon||4.1%||£1,284||no relevant data for this city||21.0%|
|East of England||3.49%||£1,148||126.76%||16.58%|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Great Parndon.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (14) will be useful.