Whenever looking for a house for sale in the UK or in Borehamwood, it is vital you look at the market trends and house price fluctuations in the wider area of Hertfordshire 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 Borehamwood.
In this article, we will be looking at the city of Borehamwood in detail so you know how to navigate the area and have a better understanding on where to invest.
What is the asking price on average of houses for sale in Borehamwood?
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 Borehamwood 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 £478,212.
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 Borehamwood.
Average price of houses for sale in Borehamwood
|Average asking price (1 bed)||£271,657|
|Average asking price (2 bed)||£366,888|
|Average asking price (3 bed)||£550,100|
|Average asking price (4 bed)||£730,134|
|Average asking price (5 bed)||£1,202,079|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £5,760. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Borehamwood has a lack of supply of housing in certain categories.
What is the final sale price of a house in Borehamwood?
In Borehamwood, the average sale price of a house for sale is in fact £434,245. This is dependent on the 10 year population growth of Borehamwood being 6%. Growing populations are more likely to inflate the prices of houses for sale in the city of Borehamwood.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£959,338|
|Aerage sold price (semi-detached)||£523,155|
|Aerage sold price (terraced)||£434,891|
|Aerage sold price (flat)||£321,132|
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 Borehamwood.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£4,880|
|Aerage sold price/sqft (new build)||£5,000|
|Aerage sold price/sqft (old stock)||£4,880|
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 £5,320. This means if you are just looking out the houses sold in Borehamwood in general and didn’t take into consideration the type of build. For example, a new build.
What kind of demographics does the city of Borehamwood have?
What is a social grade score and how does this relate to Borehamwood?
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 Borehamwood 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 Borehamwood, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 23%.
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|
How much do people in Borehamwood earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (23%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Borehamwood, this works out to be £44,800. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the crime rate bad in the city of Borehamwood?
For the city of Borehamwood, crime rate is at 128. So for every 1000 people in the area, 128 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.
Is the city of Borehamwood deprived?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 26% for Borehamwood should give you a nice idea of the deprivation in the area.
How educated are the people in Borehamwood?
Interestingly, the percentage of people who have a degree in the city of Borehamwood is 26%. 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 Borehamwood is £44,800.
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.
In the city of Borehamwood, how much green space remains for residents?
In the city of Borehamwood, there are 18.6 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Borehamwood is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What does the population of Borehamwood look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Borehamwood if 37,625 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Borehamwood such as rental yield or house appreciation.
How has the population size of Borehamwood adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Borehamwood by 2%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 2% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Borehamwood?
In the last decade, the population of Borehamwood has been adjusted by 6%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
The city of Borehamwood, situated in Hertfordshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Borehamwood 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 Borehamwood. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In Borehamwood, what are the rental yields?
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Borehamwood to Hertfordshire and the broader suburb of the UK; Greater London.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Borehamwood for profit in the future, in this case, looking at the data for the number of houses sold per month in Borehamwood would give you an idea of whether the area is actively getting new investors. This figure is 27.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Borehamwood. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What is the growth in the housing market of Borehamwood?
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 Borehamwood at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Borehamwood growth rate||6%||26%||23%|
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 Borehamwood 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 Borehamwood.
Who can help you buy a house for sale in Borehamwood?
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Choose the right house for sale that suits 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 Borehamwood.
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.
House for sale in the same UK region
See here below a list of cities in the same UK region of Borehamwood which is Greater London. You might want to consider these as alternatives for your next real estate investment:
- Darenth in Greater London
- Redbridge in Greater London
- Kensington in Greater London
- Cranford in Greater London
- Bulls-Cross in Greater London
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.