How much does a house for sale cost in Hersham?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much does a house for sale cost in Hersham?

Whenever looking for a house for sale in the UK or in Hersham, it is vital you look at the market trends and house price fluctuations in the wider area of Surrey 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 Hersham.

In this article, we will be looking at the city of Hersham in detail so you know how to navigate the area and have a better understanding on where to invest.

Are there any important statistics about the population of Hersham?

Are the people of Hersham deprived?

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 Hersham is 15%.

How much do people in Hersham earn?

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 (35%). 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 Hersham, this works out to be £59,700. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

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

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Hersham if 36,270 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Hersham such as rental yield or house appreciation.

How has the population size of Hersham adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Hersham by 1%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 1% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Hersham?

In the last decade, the population of Hersham has been adjusted by 5%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

Hersham 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 Hersham 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 Hersham, 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.

How much green space is available to residents of Hersham?

In the city of Hersham, there are 17.4 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 Hersham is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

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

In the city of Hersham and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Hersham has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 35%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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 general, do people commit a lot of crime in Hersham?

For every one thousand people living in Hersham, 85 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 85 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

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

In Hersham, the proportion of people who have a degree is 39%. 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 Hersham is £59,700.

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.

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

On average, in Hersham, the asking price for a house for sale in the area is £564,404.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Hersham. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Average asking prices for houses for sale in Hersham

Average asking price (1 bed) £275,619
Average asking price (2 bed) £398,955
Average asking price (3 bed) £621,009
Average asking price (4 bed) £841,022
Average asking price (5 bed) £1,909,688

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 Hersham is £5,360. This should show you the general prices overall and for individual types of houses too.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Hersham. In Hersham, this sale price works out to be £512,313. As an example, a factor like population growth over the last 10 years which works out to be 5% in Hersham and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £931,801
Average sold price (semi-detached) £547,332
Average sold price (terraced) £443,758
Average sold price (flat) £297,715

Above, the exact type of house is also shown to vary in price in a table in Hersham. 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 £5,210
Average sold price/sqft (new build) £5,290
Average sold price/sqft (old stock) £5,150

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 Hersham which is £5,290. 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.

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

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 Hersham this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Greater London) alongside Surrey 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 Hersham.

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)
Hersham 3.4% £1,588 140% 18.0%
Surrey 3.38% £1,657 117.61% 16.05%
Greater London 3.88% £1,899 129.14% 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 Hersham.

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 (39) will be useful.

Are there new houses being built in Hersham to make it grow?

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 Hersham that shows the growth in recent years.

1 year 3 years 5 years
Hersham growth rate 6% 18% 21%

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 Hersham is important.