Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Barnard Castle, Durham.
From the average asking price of houses for sale in Barnard Castle to the growth of the population in the area, all will be talked about regarding the city of Barnard Castle. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, what do houses for sale sell for in Barnard Castle?
In Barnard Castle, the average sale price of a house for sale is in fact £202,199. This is dependent on the 10 year population growth of Barnard Castle being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Barnard Castle.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £272,936 |
| Aerage sold price (semi-detached) | £173,360 |
| Aerage sold price (terraced) | £151,782 |
| Aerage sold price (flat) | £112,224 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Barnard Castle.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,910 |
| Aerage sold price/sqft (new build) | £2,000 |
| Aerage sold price/sqft (old stock) | £1,840 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £1,910. This means if you are just looking out the houses sold in Barnard Castle in general and didn’t take into consideration the type of build. For example, a new build.
Asking price in Barnard Castle for a house for sale
When investors make offers for houses for sale in Barnard Castle, the average price asked by the homeowners works out to be £266,588.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Barnard Castle is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In the city of Barnard Castle, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £167,300 |
| Average asking price (3 bed) | £239,717 |
| Average asking price (4 bed) | £388,467 |
| 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 Barnard Castle has a lack of supply of housing in certain categories.
Why you should consider the average rental yield when searching for houses for sale in Barnard Castle
What is the growth in the housing market of Barnard Castle?
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 Barnard Castle that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Barnard Castle growth rate | -8% | 9% | 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 Barnard Castle is important.
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 Barnard Castle to Durham and the broader suburb of the UK; North East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Barnard Castle | 3.6% | £802 | no relevant data for this city | 10.0% |
| Durham | 4.93% | £607 | 132.62% | 16.57% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Let’s assume you want to sell the house you’re looking to buy in Barnard Castle for profit in the future, in this case, looking at the data for the number of houses sold per month in Barnard Castle would give you an idea of whether the area is actively getting new investors. This figure is 7.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Barnard Castle. 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.
In Barnard Castle, what are the demographics like?
What’s a social grade score and how does it relate to Barnard Castle?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Barnard Castle in grades A or B which are the highest skilled roles in the country is 22%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £35,900 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 22%.
Are the people of Barnard Castle deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Barnard Castle, currently, 20% 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.
In Barnard Castle, what is the crime rate?
In Barnard Castle, for every 1000 people, there is currently a crime rate of 66. 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 (66 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.
What salary does the community in Barnard Castle take home?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Barnard Castle. Compare the area’s average household income of £35,900 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 22% for more conclusive data on the affluence of the area.
Located in Durham is the city of Barnard Castle, in a large part of the UK; North East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Barnard Castle has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Barnard Castle which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
In the city of Barnard Castle, has the population grown or shrunk?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Barnard Castle is 12,486.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Barnard Castle.
In Barnard Castle, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Barnard Castle is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (3%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Barnard Castle population difference over 10 years?
The population has adjusted in the area of Barnard Castle by 4% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Barnard Castle.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
For the city of Barnard Castle, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Barnard Castle is 28%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Barnard Castle is £35,900.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
In the city of Barnard Castle, how much green space remains for residents?
In the city of Barnard Castle, there are 17.6 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 Barnard Castle is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Invest in houses for sale in Barnard Castle with the right professional advice
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Barnard Castle.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
Thinking about other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in North East, the same UK region as Barnard Castle:
- Newcastle-Upon-Tyne in North East
- Acklington in North East
- Liversedge in North East
- Badsworth in North East
- Belle-Isle in North East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
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