Botany Bay – What to look for in houses for sale?

Whenever looking for a house for sale in the UK or in Botany Bay, 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 Botany Bay.

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

What kind of demographics does the city of Botany Bay have?

Have the people of Botany Bay grown in numbers?

The city of Botany Bay has a total population of 29,457. 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 Botany Bay 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 Botany Bay

Over time, in the last five years, the population of the city of Botany Bay has changed by 2%. 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 2% 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 Botany Bay?

In the last 10 years, there has been a shift in the population of 8%.

Comparing this to the 5 year figure of Botany Bay 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.

What salary does the community in Botany Bay 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 £54,600.

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 Botany Bay this figure is 32%.

In Botany Bay, how educated are people in general?

In the city of Botany Bay, 34% 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 Botany Bay is £54,600. 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’s crime like in Botany Bay?

For every one thousand people living in Botany Bay, 122 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 122 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

How deprived is the population of Botany Bay?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Botany Bay, currently, 21% 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.

The city of Botany Bay, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Botany Bay 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 Botany Bay. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What is a social grade score and how does this relate to Botany Bay?

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 Botany Bay, the percentage of people in the two highest categories, A and B is 32%. 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 £54,600. This income will generally get bigger as the percentage of people in the A and B categories go up too (32%).

Is there sufficient green space in Botany Bay?

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 Botany Bay currently has 43.2 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 Botany Bay in this case.

Asking price in Botany Bay for a house for sale

When speaking about the city of Botany Bay, £559,165 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Botany Bay.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Table showing the asking prices for houses for sale in Botany Bay

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Botany Bay 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 £5,580 should also give you an overview of what the asking price for houses for sale are in general.

Always consider average rental yield when searching for houses for sale in Botany Bay

Is the housing market in Botany Bay growing?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Botany Bay that shows the growth in recent years.

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Botany Bay is important.

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Botany Bay.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (London) as well as the broader region; Greater London.

Also, you can compare other data to the table above such as the number of houses sold per month in Botany Bay which is 24 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Botany Bay is to invest in. Both in terms of rental yield and capital appreciation.

What is the final sale price of a house in Botany Bay?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Botany Bay. In Botany Bay, this sale price works out to be £481,709. As an example, a factor like population growth over the last 10 years which works out to be 8% in Botany Bay and impacts house prices of the houses for sale.

Above, the exact type of house is also shown to vary in price in a table in Botany Bay. 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.

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 Botany Bay which is £5,390. 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.

Advice from experts on properties for sale in Botany Bay

Are you considering other cities with houses for sale?

Examine this short list of cities belonging to Greater London, the same region where Botany Bay is located.

• Harlington in Greater London
• Clapham in Greater London
• Dulwich in Greater London
• Ham in Greater London
• Putney in Greater London

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

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

A house for sale that is right for you

What parameters impact the final price of a house for sale in Botany Bay?
Here below is our list with the most important ones:

• House for sale affordability – check out the (see house affordability guide)

  on the UK gov website to know more

• House Location – the actual location of a house for sale drastically changes the final price of a property

• Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

• Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

• Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

• Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

• Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

• Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

• Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.