Whenever looking for a house for sale in the UK or in Broadley Common, it is vital you look at the market trends and house price fluctuations in the wider area of Essex 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 Broadley Common.
In this article, we will be looking at the city of Broadley Common in detail so you know how to navigate the area and have a better understanding on where to invest.
What’s the rental yield in general for the city of Broadley Common?
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 Broadley Common, 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)|
|Broadley Common||3.6%||£1,318||no relevant data for this city||12.0%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Broadley Common you might be interested in the number of sales per month (17) that happen in the local housing market. Comparing this figure for Broadley Common with the above table gives you a good understanding of the profitability of the area.
In Broadley Common, how has the number of houses changed?
The growth of an area like Broadley Common 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|
|Broadley Common growth rate||no relevant data for this city||14%||13%|
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 Broadley Common if you want to find out the exact reasons for the housing change.
What are the asking prices for the houses for sale in the city of Broadley Common?
When investors make offers for houses for sale in Broadley Common, the average price asked by the homeowners works out to be £445,217.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Broadley Common is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In the city of Broadley Common, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£219,736|
|Average asking price (2 bed)||£341,857|
|Average asking price (3 bed)||£457,538|
|Average asking price (4 bed)||£706,360|
|Average asking price (5 bed)||£779,916|
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 £4,650. 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 Broadley Common has a lack of supply of housing in certain categories.
In Broadley Common, what do houses for sale tend to sell for?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Broadley Common. In Broadley Common, this sale price works out to be £368,156. As an example, a factor like population growth over the last 10 years which works out to be 6% in Broadley Common and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£603,492|
|Average sold price (semi-detached)||£412,641|
|Average sold price (terraced)||£342,346|
|Average sold price (flat)||£242,407|
Above, the exact type of house is also shown to vary in price in a table in Broadley Common. 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||£4,090|
|Average sold price/sqft (new build)||£4,450|
|Average sold price/sqft (old stock)||£4,030|
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 Broadley Common which is £4,370. 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.
What kind of demographics does the city of Broadley Common have?
What is the social grade score of Broadley Common?
In the city of Broadley Common, the social grade score of the area is 16%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Broadley Common.
|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|
In the city of Broadley Common, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Essex for example.
These demographics for Broadley Common may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Broadley Common in Greater London.
What does the population of Broadley Common look like?
In total, the number of people in Broadley Common is 23,596. 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 Broadley Common, depending on where exactly you are.
How has Broadley Common 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 Broadley Common has changed by 2%. 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 2% 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 Broadley Common?
6% 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 Broadley Common 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.
In the city of Broadley Common, is there a lot of green space?
In the city of Broadley Common, there are no relevant data for this city 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 Broadley Common is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Broadley Common, what are the deprivation levels like?
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 28% for Broadley Common should give you a nice idea of the deprivation in the area.
What’s crime like in Broadley Common?
In Broadley Common, for every 1000 people, there is currently a crime rate of 127. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (127 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
How educated are the people in Broadley Common?
In Broadley Common, the proportion of people who have a degree is 17%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Broadley Common is £41,600.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
Are the people in Broadley Common earning a lot?
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.
£41,600 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 16% for Broadley Common.