Armley might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of West Yorkshire.
Before looking for a house for sale in the city of Armley we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Armley.
In Armley, what are the demographics like?
Have the people of Armley grown in numbers?
In total, the number of people in Armley is 40,736. 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 Armley, depending on where exactly you are.
How has Armley 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 Armley 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 Armley?
7% 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 Armley 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 the city of Armley, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of West Yorkshire for example.
These demographics for Armley may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Armley in North East.
Are the people of Armley deprived?
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 Armley, in particular, the deprivation levels are 32%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
For the city of Armley, what is the education level?
In Armley, the proportion of people who have a degree is 19%. 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 Armley is £36,000.
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.
What is the social grade score of Armley?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Armley compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Armley, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 15%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|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 do people in Armley earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £36,000.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Armley this figure is 15%.
Do the people of Armley get to enjoy green space?
In the city of Armley, there are 9.6 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 Armley is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Is the crime rate bad in the city of Armley?
In Armley, for every 1000 people, there is currently a crime rate of 204. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (204 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
Asking price in Armley for a house for sale
Average price of houses for sale in Armley
|Average asking price (1 bed)||£107,187|
|Average asking price (2 bed)||£136,817|
|Average asking price (3 bed)||£205,955|
|Average asking price (4 bed)||£303,094|
|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 Armley 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 £2,230 should also give you an overview of what the asking price for houses for sale are in general.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Armley determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £173,964.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Armley.
How are rental yields of the houses for sale different to the rest of the UK in Armley?
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 Armley to West Yorkshire and the broader suburb of the UK; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Armley for profit in the future, in this case, looking at the data for the number of houses sold per month in Armley would give you an idea of whether the area is actively getting new investors. This figure is 37.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Armley. 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.
Are there more or fewer houses being built in Armley?
Before committing to Armley to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Armley growth rate||3%||16%||23%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Armley is building housing to find your answer.
What is the final sale price of a house in Armley?
As well as looking at the asking price for house for sale in Armley, 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 Armley.
Houses for sale, are sold on average in Armley, after the influence of these factors, at £145,404 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 7% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£243,204|
|Aerage sold price (semi-detached)||£160,324|
|Aerage sold price (terraced)||£116,487|
|Aerage sold price (flat)||£102,498|
This table above shows the average sale price for each variation of houses for sale in Armley.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,810|
|Aerage sold price/sqft (new build)||£2,000|
|Aerage sold price/sqft (old stock)||£1,710|
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 Armley is £2,020.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.