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Whenever looking for a house for sale in the UK or in Stanmore, it is vital you look at the market trends and house price fluctuations in the wider area of Middlesex 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 Stanmore.
In this article, we will be looking at the city of Stanmore in detail so you know how to navigate the area and have a better understanding on where to invest.
In Stanmore, what are the demographics like?
Is there sufficient green space in Stanmore?
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 Stanmore, 18 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 Stanmore.
Stanmore within Middlesex is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Stanmore will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Greater London). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Stanmore.
How much are those living in Stanmore earning?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Stanmore, the average income is £56,700.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 0.36 to decide on what the demographics are like in the area.
In the city of Stanmore, 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 Stanmore if 35976 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 Stanmore such as rental yield or house appreciation.
How has the population size of Stanmore adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Stanmore by 2%. 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 2% 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 Stanmore?
In the last decade, the population of Stanmore has been adjusted by 6%. 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.
Is the education level of Stanmore important when buying a house?
In Stanmore, the proportion of people who have a degree is 35%. 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 Stanmore is £56,700.00.
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 Stanmore, what are the deprivation levels like?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Stanmore is £0 and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
What’s crime like in Stanmore?
Within Stanmore, the number of people committing crimes is 69 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 69 figure carefully.
What is the city of Stanmore’s social grade score?
In the city of Stanmore, the social grade score of the area is 0.36. 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 Stanmore.
| 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 Stanmore, what are the rental yields?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Stanmore, currently, £0 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 and how much you can charge for rent in your ast (assured tenancy shorthold).
What is the growth in the housing market of Stanmore?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Stanmore at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Stanmore growth rate | 6% | 21% | 17% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Stanmore gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Stanmore.
Who can help you buy a house for sale in Stanmore?
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
In Stanmore, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Stanmore, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Stanmore.
Houses for sale, are sold on average in Stanmore, after the influence of these factors, at £577,410 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 6% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £1,100,432 |
| Aerage sold price (semi-detached) | £587,710 |
| Aerage sold price (terraced) | £583,232 |
| Aerage sold price (flat) | £416,076 |
This table above shows the average sale price for each variation of houses for sale in Stanmore.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £5,610 |
| Aerage sold price/sqft (new build) | £6,280 |
| Aerage sold price/sqft (old stock) | £5,500 |
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Stanmore is £5,790.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What are the asking prices for the houses for sale in the city of Stanmore?
Table showing the asking prices for houses for sale in Stanmore
| Average asking price (1 bed) | £324,703 |
| Average asking price (2 bed) | £476,131 |
| Average asking price (3 bed) | £644,294 |
| Average asking price (4 bed) | £883,654 |
| Average asking price (5 bed) | £1,492,941 |
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 £5,970. 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 Stanmore has a lack of supply of housing in certain categories.
When speaking about the city of Stanmore, £614,326 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Stanmore would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Stanmore
- 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.
Are you considering other cities with houses for sale?
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 Stanmore:
- crafthole in Greater London
- milton-keynes in Greater London
- barton-bendish in Greater London
- anstey in Greater London
- balgonar in Greater London
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
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