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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?

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As a landlord, whenever you are looking at houses for sale in Hertfordshire, you could find varying prices throughout an area like Broxbourne. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Broxbourne to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Broxbourne will be revealed. Keep reading.

Other cities in different locations you can consider to buy property

You can consult our list below that goes over a list of cities not necessarily in Greater London, allowing you to find similar places to Broxbourne:

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

A house for sale that is right for you

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 Broxbourne.

  • 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.

Why you should consider the average rental yield when searching for houses for sale in Broxbourne

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Broxbourne this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Greater London) alongside Hertfordshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Broxbourne.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Broxbourne £0 £1,372 no relevant data for this city £0
Hertfordshire 3.33% £1,381.63 133.74% 16.45%
Greater London 0.04 1,898.58 £1 13.30%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Broxbourne.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (11) will be useful.

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.

Who can help you buy a house for sale in Broxbourne?

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

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

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 are the asking prices for the houses for sale in the city of Broxbourne?

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

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£4,960) for houses for sale with this table to get a good idea as to whether Broxbourne is the right area to buy a house in for you.

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 Broxbourne 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 £522,590.

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 Broxbourne.

What are the demographics like in the city of Broxbourne?

In the city of Broxbourne, 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 Hertfordshire for example.

These demographics for Broxbourne 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 Broxbourne in Greater London.

For the city of Broxbourne, what is the education level?

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 £46,800.00. 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.

How much are those living in Broxbourne earning?

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 (21%). 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 Broxbourne, this works out to be £46,800.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In Broxbourne, what is the crime rate?

In Broxbourne, for every 1000 people, there is currently a crime rate of 7800%. 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 (7800% 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.

In the city of Broxbourne, how much green space remains for residents?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Broxbourne, 11 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Broxbourne.

What does the population of Broxbourne 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 Broxbourne is 60563.

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 is the city of Broxbourne’s social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Broxbourne in grades A or B which are the highest skilled roles in the country is 21%.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £46,800.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 21%.

How deprived is the population of Broxbourne?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Broxbourne is £0.

Frequently Asked Questions

Is it possible to renovate a property in Broxbourne?

Broxbourne is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 13 each month, attaining a success rate of 89% and a total population of 60563. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place

What’s the number of property sales each month in Broxbourne?

The city of Broxbourne sees around 11 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

What is the population change each year in a city like Broxbourne?

To work out how the population of Broxbourne has changed over time, you can look at the population change over a decade which is 5% and the change in a five year period two which falls at 1%. Compare the two and look at the population growth or decline in recent times to really make sure you have a good understanding of the population

What are the asking rates for houses for sale in the surrounding area of Broxbourne?

The average asking price of a house in Broxbourne is currently £4,960 based on the average price per square foot.

Would acquiring a house for sale in Broxbourne be regarded as a high-priced option?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Broxbourne, this stands at £406,459, whereas the UK’s mean is £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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