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Whenever looking for a house for sale in the UK or in Bean, it is vital you look at the market trends and house price fluctuations in the wider area of Kent 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 Bean.
In this article, we will be looking at the city of Bean in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the demographics like in the city of Bean?
What is the social grade score of Bean?
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 Bean in grades A or B which are the highest skilled roles in the country is 19%.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £48,800.00 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 19%.
What does the population of Bean look like?
In total, the number of people in Bean is 22412. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Bean, depending on where exactly you are.
How has Bean changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Bean has changed by 10%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 10% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Bean?
18% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Bean have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
How much do people in Bean earn?
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 £48,800.00.
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 Bean this figure is 19%.
Bean in the county of Kent 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 Bean is located in; Greater London.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Bean, 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.
How deprived is the population of Bean?
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 Bean, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Is the education level of Bean important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Bean is 21%. 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 Bean is £48,800.00.
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’s crime like in Bean?
The crime rate of Bean 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 13600%, 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 (13600%) is both useful and is recommended to be compared to the average.
How much green space is available to residents of Bean?
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 Bean currently has 22 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 Bean in this case.
On average, what is the figure for the asking price of a house for sale in Bean?
On average, in Bean, the asking price for a house for sale in the area is £409,974.
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 Bean. 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.
Table showing the asking prices for houses for sale in Bean
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £303,621 |
| Average asking price (3 bed) | £436,977 |
| Average asking price (4 bed) | £591,429 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Bean, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that 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 £4,310 will help them to have a more holistic understanding.
In general, for the city of Bean, what are the final purchase prices for the houses for sale?
In Bean, the average sale price of a house for sale is in fact £353,420. This is dependent on the 10 year population growth of Bean being 18%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bean.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £553,796 |
| Aerage sold price (semi-detached) | £360,968 |
| Aerage sold price (terraced) | £314,420 |
| Aerage sold price (flat) | £203,283 |
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 Bean.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,840 |
| Aerage sold price/sqft (new build) | £2,410 |
| Aerage sold price/sqft (old stock) | £3,800 |
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 £4,070. This means if you are just looking out the houses sold in Bean in general and didn’t take into consideration the type of build. For example, a new build.
Who can help you buy a house for sale in Bean?
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
How are rental yields of the houses for sale different to the rest of the UK in Bean?
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 Bean. 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 Bean.
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 (Kent), a regional level (Greater London) and finally on the level of the city talked about in this article, Bean.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bean | £0 | £1,535 | no relevant data for this city | £0 |
| Kent | 3.63% | £1,229.08 | 130.16% | 16.77% |
| Greater London | 0.04 | 1,898.58 | £1 | 13.30% |
You may also find it useful to compare the data above to the number of properties sold per month Bean experiences. This figure for house sales per month is 15. 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.
Are there more or fewer houses being built in Bean?
Before committing to Bean to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Bean growth rate | 6% | 22% | 26% |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Bean is building housing to find your answer.
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bean
- affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
- Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
- Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
- Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
- EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
- Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
- Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
- Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
- Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Thinking of a different city and perhaps a different location?
Below is a list of towns that differ from Bean.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to Greater London:
- babcary in Greater London
- ancrum in Greater London
- bellsquarry in Greater London
- kilmarnock in Greater London
- bedford in Greater London
If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.
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