What is it like buying a house in Acaster Malbis?

by | Nov 15, 2022

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

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

On average, what is the figure for the asking price of a house for sale in Acaster Malbis?

On average, in Acaster Malbis, the asking price for a house for sale in the area is £408,906.

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 Acaster Malbis. 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.

The average asking price for the houses for sale in the city of Acaster Malbis

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £282,420
Average asking price (3 bed) £385,087
Average asking price (4 bed) £592,037
Average asking price (5 bed) no relevant data for this city

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Acaster Malbis and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

What is the final sale price of a house in Acaster Malbis?

As well as looking at the asking price for house for sale in Acaster Malbis, 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 Acaster Malbis.

Houses for sale, are sold on average in Acaster Malbis, after the influence of these factors, at £321,997 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 9% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £426,645
Aerage sold price (semi-detached) £303,615
Aerage sold price (terraced) £294,190
Aerage sold price (flat) £280,288

This table above shows the average sale price for each variation of houses for sale in Acaster Malbis.

Housing category Sale price per square foot
Aerage sold price/sqft £3,390
Aerage sold price/sqft (new build) £4,030
Aerage sold price/sqft (old stock) £3,220

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 Acaster Malbis is £3,390.

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’s the rental yield in general for the city of Acaster Malbis?

What is the growth in the housing market of Acaster Malbis?

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 Acaster Malbis at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Acaster Malbis growth rate 3% 10% 9%

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 Acaster Malbis 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 Acaster Malbis.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Acaster Malbis. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Acaster Malbis.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (North Yorkshire), a regional level (North East) and finally on the level of the city talked about in this article, Acaster Malbis.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Acaster Malbis 3.6% £1,221 140% 15.0%
North Yorkshire 3.44% £909 121.00% 17.57%
North East 4.67% £757 123.96% 19.25%

You may also find it useful to compare the data above to the number of properties sold per month Acaster Malbis experiences. This figure for house sales per month is 16. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

What kind of demographics does the city of Acaster Malbis have?

For the city of Acaster Malbis, what is the education level?

In the city of Acaster Malbis, 34% 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 Acaster Malbis is £48,300. 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.

In Acaster Malbis, what is the social grade score?

In the city of Acaster Malbis 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 Acaster Malbis has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 38%.

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

How much are those living in Acaster Malbis 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 (38%). 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 Acaster Malbis, this works out to be £48,300. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

The city of Acaster Malbis, situated in North Yorkshire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Acaster Malbis and its demographics will be compared to its wider location (North East). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Acaster Malbis. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In the city of Acaster Malbis, has the population grown or shrunk?

In total, the number of people in Acaster Malbis is 19,387. 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 Acaster Malbis, depending on where exactly you are.

How has Acaster Malbis 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 Acaster Malbis has changed by 3%. 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 3% 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 Acaster Malbis?

9% 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 Acaster Malbis 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.

In Acaster Malbis, what is the crime rate?

For the city of Acaster Malbis, crime rate is at 85. So for every 1000 people in the area, 85 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

In the city of Acaster Malbis, is there a lot of green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Acaster Malbis, the city has 19.4 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Acaster Malbis.

Are the deprivation levels of the UK any different to Acaster Malbis?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 19% for Acaster Malbis should give you a nice idea of the deprivation in the area.