Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Baker Street, Essex.
From the average asking price of houses for sale in Baker Street to the growth of the population in the area, all will be talked about regarding the city of Baker Street. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Baker Street, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Baker Street, 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 Baker Street.
Houses for sale, are sold on average in Baker Street, after the influence of these factors, at £339,368 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 12% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £457,354 |
| Aerage sold price (semi-detached) | £348,620 |
| Aerage sold price (terraced) | £302,489 |
| Aerage sold price (flat) | £216,602 |
This table above shows the average sale price for each variation of houses for sale in Baker Street.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,710 |
| Aerage sold price/sqft (new build) | £3,390 |
| Aerage sold price/sqft (old stock) | £3,650 |
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 Baker Street is £3,780.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
In Baker Street, what are the demographics like?
In Baker Street, how has the population changed?
The city of Baker Street has a total population of 41,165. 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 Baker Street 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 Baker Street
Over time, in the last five years, the population of the city of Baker Street has changed by 6%. 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 6% 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 Baker Street?
In the last 10 years, there has been a shift in the population of 12%.
Comparing this to the 5 year figure of Baker Street 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.
In the city of Baker Street, how much green space remains for residents?
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 Baker Street currently has 16.1 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 Baker Street in this case.
What is the social grade score of Baker Street?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Baker Street in grades A or B which are the highest skilled roles in the country is 20%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £48,600 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 20%.
How deprived is the population of Baker Street?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Baker Street is 24% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
The city of Baker Street, 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 Baker Street and its demographics will be compared to its wider location (Greater London). 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 Baker Street. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How educated are the people in Baker Street?
The number of people as a percentage who have been through university and gained a degree is 20%. The ability to buy a home is greatly influenced by the number of people who have degrees. £48,600 is the amount people in Baker Street 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 Baker Street, 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.
What salary does the community in Baker Street take home?
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 £48,600.
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 Baker Street this figure is 20%.
In general, do people commit a lot of crime in Baker Street?
Within Baker Street, the number of people committing crimes is 99 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 99 figure carefully.
In Baker Street, what is the asking price in general for a house for sale?
On average, in Baker Street, the asking price for a house for sale in the area is £416,118.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Baker Street. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Average asking prices for houses for sale in Baker Street
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £314,500 |
| Average asking price (3 bed) | £416,970 |
| Average asking price (4 bed) | £552,424 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Baker Street, 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 £3,840 will help them to have a more wholistic understanding.
Always consider average rental yield when searching for houses for sale in Baker Street
Are there more or fewer houses being built in Baker Street?
The growth of an area like Baker Street can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Baker Street growth rate | 4% | 14% | 19% |
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Baker Street if you want to find out the exact reasons for the housing change.
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 Baker Street, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as Essex, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Baker Street | 3.7% | £1,283 | no relevant data for this city | 25.0% |
| Essex | 3.51% | £1,237 | 125.97% | 17.61% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Baker Street you might be interested in the number of sales per month (28) that happen in the local housing market. Comparing this figure for Baker Street with the above table gives you a good understanding of the profitability of the area.
Invest in houses for sale in Baker Street with the right professional advice
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
houses for sale in other cities in the UK
We have prepared a list of cities in Greater London, the same UK region of Baker Street that can help you evaluate the different houses for sale listed in the region:
- Barnes in Greater London
- Abbey-Wood in Greater London
- Bedford-Park in Greater London
- Hammersmith in Greater London
- Croydon in Greater London
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
A house for sale appropriate to your needs
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 Baker Street.
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Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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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
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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.
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