fbpx

Broxbourne – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ Broxbourne – What to look for in houses for sale?

Broxbourne can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Broxbourne.

On top of this, keep reading for detailed information on the demographics of Broxbourne in Hertfordshire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

In Broxbourne, what is the asking price in general for a house for sale?

In the city of Broxbourne, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £331,986
Average asking price (3 bed) £500,712
Average asking price (4 bed) £701,646
Average asking price (5 bed) no relevant data for this city

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 £4,960. 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 Broxbourne has a lack of supply of housing in certain categories.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Broxbourne is £522,590.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Broxbourne is useful when negotiating and knowing what to expect for every type of house for sale.

In general, for the city of Broxbourne, what are the final purchase prices for the houses for sale?

In Broxbourne, the average sale price of a house for sale is in fact £406,459. This is dependent on the 10 year population growth of Broxbourne being 5%. Growing populations are more likely to inflate the prices of houses for sale in the city of Broxbourne.

Housing category Total final sale price
Aerage sold price (detached) £655,767
Aerage sold price (semi-detached) £460,645
Aerage sold price (terraced) £363,244
Aerage sold price (flat) £231,045

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 Broxbourne.

Housing category Sale price per square foot
Aerage sold price/sqft £4,247
Aerage sold price/sqft (new build) £3,080
Aerage sold price/sqft (old stock) £4,173

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 £4,607. This means if you are just looking out the houses sold in Broxbourne in general and didn’t take into consideration the type of build. For example, a new build.

What’s the rental yield in general for the city of Broxbourne?

Is the housing market in Broxbourne growing?

Before committing to Broxbourne 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
Broxbourne growth rate -2% 14% 14%

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 Broxbourne is building housing to find your answer.

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 Broxbourne.

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 (Hertfordshire) as well as the broader region; Greater London.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Broxbourne 3.1% £1,372 no relevant data for this city 14.7%
Hertfordshire 3.33% £1,382 133.74% 16.45%
Greater London 3.88% £1,899 129.14% 13.30%

Also, you can compare other data to the table above such as the number of houses sold per month in Broxbourne which is 47 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 Broxbourne is to invest in. Both in terms of rental yield and capital appreciation.

Are there any important statistics about the population of Broxbourne?

Have the people of Broxbourne grown in numbers?

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 Broxbourne is 60,563.

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 Broxbourne.

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

In the last five years, over time, the change in population size was 1%. 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 Broxbourne 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 (1%) 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.

Broxbourne population difference over 10 years?

The population has adjusted in the area of Broxbourne 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 Broxbourne.

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.

What’s a social grade score and how does it relate to Broxbourne?

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 Broxbourne, the percentage of people in the two highest categories, A and B is 21%. 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 £46,800. This income will generally get bigger as the percentage of people in the A and B categories go up too (21%).

In general, do people commit a lot of crime in Broxbourne?

The crime rate of Broxbourne 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 78, 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 (78) is both useful and is recommended to be compared to the average.

Are the people of Broxbourne deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Broxbourne, currently, 23% 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.

How much do people in Broxbourne earn?

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.

£46,800 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 21% for Broxbourne.

The city of Broxbourne, 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 Broxbourne 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 Broxbourne. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Do the people of Broxbourne get to enjoy green space?

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 Broxbourne currently has 11.1 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 Broxbourne in this case.

How educated are the people in Broxbourne?

In the city of Broxbourne, 20% 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 Broxbourne is £46,800. 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.

Invest in houses for sale in Broxbourne with the right professional advice

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Broxbourne.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

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

Are you considering other cities with houses for sale?

You can assess the various houses for sale offered in the area by consulting this list of cities in Greater London, the same UK region as Broxbourne:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *