Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Caterham, Surrey.
From the average asking price of houses for sale in Caterham to the growth of the population in the area, all will be talked about regarding the city of Caterham. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, what do houses for sale sell for in Caterham?
For the city of Caterham, the average price a house sells for is £418,922. This value usually depends on the exact location of the house within Caterham as well as other factors like the population growth in Caterham which is 7% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £699,416 |
| Aerage sold price (semi-detached) | £426,717 |
| Aerage sold price (terraced) | £372,931 |
| Aerage sold price (flat) | £264,767 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Caterham.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £4,270 |
| Aerage sold price/sqft (new build) | £4,460 |
| Aerage sold price/sqft (old stock) | £4,230 |
Generalising the bottom table, the average value per square foot of a house for sale is £4,490. This value averages all of the types of houses for sale in Caterham. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Caterham.
Why you should consider the average rental yield when searching for houses for sale in Caterham
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 Caterham to Surrey and the broader suburb of the UK; Greater London.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Caterham | 3.7% | £1,361 | 127% | 17.0% |
| Surrey | 3.38% | £1,657 | 117.61% | 16.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
Let’s assume you want to sell the house you’re looking to buy in Caterham for profit in the future, in this case, looking at the data for the number of houses sold per month in Caterham would give you an idea of whether the area is actively getting new investors. This figure is 25.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Caterham. 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.
Are there more or fewer houses being built in Caterham?
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 Caterham that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Caterham growth rate | 2% | 19% | 23% |
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 Caterham is important.
On average, what is the figure for the asking price of a house for sale in Caterham?
In the city of Caterham, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £227,632 |
| Average asking price (2 bed) | £339,190 |
| Average asking price (3 bed) | £520,739 |
| Average asking price (4 bed) | £720,177 |
| Average asking price (5 bed) | no relevant data for this city |
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Caterham is £4,710. This should show you the general prices overall and for individual types of houses too.
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 Caterham is £447,257.
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 Caterham is useful when negotiating and knowing what to expect for every type of house for sale.
In Caterham, what are the demographics like?
What’s crime like in Caterham?
The crime rate of Caterham 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 72, 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 (72) is both useful and is recommended to be compared to the average.
What salary does the community in Caterham 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 £58,000.
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 Caterham this figure is 30%.
How deprived is the population of Caterham?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Caterham, in particular, the deprivation levels are 15%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What is the population of Caterham?
Population growth in Caterham is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Caterham, 28,748 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Caterham in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Caterham, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Caterham?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 7% in Caterham.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
In the city of Caterham, 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 Caterham, 28.6 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 Caterham.
Caterham in the county of Surrey is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Caterham is located in; Greater London.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Caterham, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
What is the social grade score of Caterham?
In the city of Caterham, the social grade score of the area is 30%. 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 Caterham.
| 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 |
For the city of Caterham, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Caterham is 33%. 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 Caterham is £58,000.
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.
Professional advice for houses for sale in Caterham
Finding the ideal house for sale for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Caterham
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
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Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
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Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
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EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
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Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
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Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
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Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
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
Other cities you can consider looking for with houses for sale
Examine this short list of cities belonging to Greater London, the same region where Caterham is located.
- Addlestone in Greater London
- Burgh-Heath in Greater London
- Hampton-Wick in Greater London
- Bickley in Greater London
- Balham 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.
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