Aldfield can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Aldfield.
On top of this, keep reading for detailed information on the demographics of Aldfield in North Yorkshire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
Why you should consider the average rental yield when searching for houses for sale in Aldfield
Are there new houses being built in Aldfield 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 Aldfield that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Aldfield growth rate | -4% | 11% | 15% |
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 Aldfield is important.
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Aldfield, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; North East. As well as North Yorkshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Aldfield | 3.0% | £813 | 127% | 16.0% |
| North Yorkshire | 3.44% | £909 | 121.00% | 17.57% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Aldfield you might be interested in the number of sales per month (23) that happen in the local housing market. Comparing this figure for Aldfield with the above table gives you a good understanding of the profitability of the area.
In general, what do houses for sale sell for in Aldfield?
For the city of Aldfield, the average price a house sells for is £268,537. This value usually depends on the exact location of the house within Aldfield as well as other factors like the population growth in Aldfield which is 3% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £381,203 |
| Aerage sold price (semi-detached) | £235,455 |
| Aerage sold price (terraced) | £197,472 |
| Aerage sold price (flat) | £162,171 |
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 Aldfield.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,560 |
| Aerage sold price/sqft (new build) | £2,800 |
| Aerage sold price/sqft (old stock) | £2,460 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,560. This value averages all of the types of houses for sale in Aldfield. 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 Aldfield.
On average, what is the figure for the asking price of a house for sale in Aldfield?
The average asking price for the houses for sale in the city of Aldfield
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £226,394 |
| Average asking price (3 bed) | £305,323 |
| Average asking price (4 bed) | £503,978 |
| 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 Aldfield has a lack of supply of housing in certain categories.
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 Aldfield is £320,988.
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 Aldfield is useful when negotiating and knowing what to expect for every type of house for sale.
Are there any important statistics about the population of Aldfield?
In the city of Aldfield, is there a lot of green space?
In the city of Aldfield, there are 14.9 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 Aldfield is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How deprived is the population of Aldfield?
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 Aldfield, in particular, the deprivation levels are 19%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In Aldfield, how educated are people in general?
In the city of Aldfield, 29% 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 Aldfield is £41,900. 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.
Have the people of Aldfield grown in numbers?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Aldfield if 25,982 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 Aldfield such as rental yield or house appreciation.
How has the population size of Aldfield adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Aldfield 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 Aldfield?
In the last decade, the population of Aldfield has been adjusted by 3%. 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.
What is the city of Aldfield’s social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Aldfield, the percentage of people in the two highest categories, A and B is 22%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £41,900. This income will generally get bigger as the percentage of people in the A and B categories go up too (22%).
What’s the crime rate in Aldfield?
Within Aldfield, the number of people committing crimes is 72 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 72 figure carefully.
How much do people in Aldfield earn?
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 Aldfield, the average income is £41,900. 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 22% to decide on what the demographics are like in the area.
The city of Aldfield, 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 Aldfield 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 Aldfield. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Get professional help on the houses for sale in Aldfield
A house for sale that is right for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Aldfield.
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Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
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Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
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Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
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EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
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Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
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Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
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
House for sale in the same UK region
Below are a list of towns with a similar location to Aldfield.
Reading these analysis will help you evaluate the different houses for sale currently listed in North East:
- Chickenley in North East
- Airedale in North East
- Bildershaw in North East
- Arkendale in North East
- Fylingthorpe in North East
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.
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