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How much does a house for sale cost in Belmont?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much does a house for sale cost in Belmont?

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

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

In Belmont, 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 Belmont 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 £342,113.

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 Belmont.

Average price of houses for sale in Belmont

Average asking price (1 bed) £251,165
Average asking price (2 bed) £242,590
Average asking price (3 bed) £436,768
Average asking price (4 bed) £637,152
Average asking price (5 bed) £870,644

After looking at this table about prices of houses for sale in Belmont, 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 £2,485 will help them to have a more wholistic understanding.

How are rental yields of the houses for sale different to the rest of the UK in Belmont?

What is the growth in the housing market of Belmont?

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 Belmont at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Belmont growth rate -11% 11% 10%

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 Belmont 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 Belmont.

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 Belmont, 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 London, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Belmont 3.8% £1,449 140% 32.0%
London 3.96% £2,001 129.93% 12.05%
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 Belmont you might be interested in the number of sales per month (69) that happen in the local housing market. Comparing this figure for Belmont with the above table gives you a good understanding of the profitability of the area.

In general, what do houses for sale sell for in Belmont?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Belmont. In Belmont, this sale price works out to be £302,564. As an example, a factor like population growth over the last 10 years which works out to be 5% in Belmont and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £586,906
Average sold price (semi-detached) £405,246
Average sold price (terraced) £284,534
Average sold price (flat) £197,920

Above, the exact type of house is also shown to vary in price in a table in Belmont. 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 £3,190
Average sold price/sqft (new build) £3,320
Average sold price/sqft (old stock) £3,165

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 Belmont which is £3,255. 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.

Are there any important statistics about the population of Belmont?

What does the population of Belmont look like?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Belmont is 56,273.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Belmont.

In Belmont, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Belmont is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Belmont population difference over 10 years?

The population has adjusted in the area of Belmont by 5% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Belmont.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

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

Whether you view green space in Belmont 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 Belmont, the number of acres of green space for every 1000 people currently is 16.7 which can be measured against the UK average of 1.7.

Belmont within London is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Belmont will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Greater London). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Belmont.

How much are those living in Belmont earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£59,300 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 36% for Belmont.

How educated are the people in Belmont?

In the city of Belmont, 42% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Belmont is £59,300. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

What is the social grade score of Belmont?

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 Belmont 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 Belmont, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 36%.

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

What’s the crime rate in Belmont?

Within Belmont, the number of people committing crimes is 68 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 68 figure carefully.

In Belmont, what are the deprivation levels like?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Belmont, currently, 16% 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.

Get professional help on the houses for sale in Belmont

Choose the right house for sale that suits your needs

When browsing houses for sale in Belmont you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • 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.

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

Thinking about other cities with houses for sale?

We have prepared a list of cities in Greater London, the same UK region of Belmont 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.

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