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FARRINGDON – 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 $ FARRINGDON – What to look for in houses for sale?

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

In this article, we will be looking at the city of FARRINGDON 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 FARRINGDON?

Are there more or fewer houses being built in FARRINGDON?

Whenever you are thinking about looking for houses for sale in FARRINGDON, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
FARRINGDON growth rate 10% 18% 15%

As the population of FARRINGDON grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

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 FARRINGDON to London and the broader suburb of the UK; Greater London.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
FARRINGDON no relevant data for this city no relevant data for this city no relevant data for this city 5.0%
London 3.96% £2,001 129.93% 12.05%
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 FARRINGDON for profit in the future, in this case, looking at the data for the number of houses sold per month in FARRINGDON would give you an idea of whether the area is actively getting new investors. This figure is 2.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in FARRINGDON. 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.

What are the demographics like in the city of FARRINGDON?

How much green space is available to residents of FARRINGDON?

Whether you view green space in FARRINGDON as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In FARRINGDON, the number of acres of green space for every 1000 people currently is 8.4 which can be measured against the UK average of 1.7.

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

In the city of FARRINGDON, the social grade score of the area is 67%. 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 FARRINGDON.

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

What’s the crime rate in FARRINGDON?

Within FARRINGDON, the number of people committing crimes is 1,619 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 1,619 figure carefully.

What salary does the community in FARRINGDON take home?

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.

£65,400 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 67% for FARRINGDON.

In the city of FARRINGDON, has the population grown or shrunk?

In total, the number of people in FARRINGDON is 1,181. 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 FARRINGDON, depending on where exactly you are.

How has FARRINGDON 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 FARRINGDON has changed by 62%. 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 62% 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 FARRINGDON?

48% 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 FARRINGDON 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.

Located in London is the city of FARRINGDON, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of FARRINGDON has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of FARRINGDON which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

In FARRINGDON, how educated are people in general?

The number of people as a percentage who have been through university and gained a degree is 56%. The ability to buy a home is greatly influenced by the number of people who have degrees. £65,400 is the amount people in FARRINGDON are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in FARRINGDON, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

Are the people of FARRINGDON deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In FARRINGDON, currently, 25% 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.

What is the asking price on average of houses for sale in FARRINGDON?

When investors make offers for houses for sale in FARRINGDON, the average price asked by the homeowners works out to be £760,537.

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 FARRINGDON 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 FARRINGDON, what is the average asking price for the houses for sale?

Average asking price (1 bed) £653,073
Average asking price (2 bed) no relevant data for this city
Average asking price (3 bed) no relevant data for this city
Average asking price (4 bed) no relevant data for this city
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 £0. 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 FARRINGDON has a lack of supply of housing in certain categories.

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

In FARRINGDON, the average sale price of a house for sale is in fact £679,942. This is dependent on the 10 year population growth of FARRINGDON being 48%. Growing populations are more likely to inflate the prices of houses for sale in the city of FARRINGDON.

Housing category Total final sale price
Aerage sold price (detached) no relevant data for this city
Aerage sold price (semi-detached) no relevant data for this city
Aerage sold price (terraced) no relevant data for this city
Aerage sold price (flat) £671,835

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 FARRINGDON.

Housing category Sale price per square foot
Aerage sold price/sqft £10,390
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £10,640

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 £10,390. This means if you are just looking out the houses sold in FARRINGDON in general and didn’t take into consideration the type of build. For example, a new build.

Get professional help on the houses for sale in FARRINGDON

Other cities you can consider looking for with houses for sale

Below are a list of towns with a similar location to FARRINGDON.
Reading these analysis will help you evaluate the different houses for sale currently listed in Greater London:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.

A house for sale appropriate to your needs

Find here below a list of criteria that we suggest you consider before looking for houses for sale in FARRINGDON

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • 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.

  • 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.

  • 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.

  • 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.

  • 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

  • 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?

  • 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.

  • 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

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