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What is it like buying a house in Barningham?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North East $ What is it like buying a house in Barningham?

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Barningham 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 Barningham.

On top of this, keep reading for detailed information on the demographics of Barningham in Durham. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

Thinking of a different city and perhaps a different location?

We have prepared a list of cities that are entirely dissimilar to the region of North East, perfect if you are looking for somewhere similar to Barningham but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.

Get professional help on the houses for sale in Barningham

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

Asking price in Barningham for a house for sale

Table showing the asking prices for houses for sale in Barningham

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £264,996
Average asking price (3 bed) £324,395
Average asking price (4 bed) no relevant data for this city
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 Barningham 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.

When investors make offers for houses for sale in Barningham, the average price asked by the homeowners works out to be £359,898.

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 Barningham 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 general, what do houses for sale sell for in Barningham?

In Barningham, houses for sale are sold at an average of £306,246. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Barningham. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £366,275
Aerage sold price (semi-detached) £276,655
Aerage sold price (terraced) £216,153
Aerage sold price (flat) no relevant data for this city

As you can see above, for Barningham, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 2% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £2,430
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £2,370

Looking at the second table about Barningham, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Barningham is £2,430.

In Barningham, what are the demographics like?

What’s the crime rate in Barningham?

The crime rate of Barningham must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 4100%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (4100%) is both useful and is recommended to be compared to the average.

In the city of Barningham, 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 Barningham is 5035.

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 Barningham.

In Barningham, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. 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 Barningham 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 (2%) 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.

Barningham population difference over 10 years?

The population has adjusted in the area of Barningham by 2% 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 Barningham.

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.

Are the deprivation levels of the UK any different to Barningham?

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 £0 for Barningham should give you a nice idea of the deprivation in the area.

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

In the city of Barningham, there are 8 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 Barningham is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

How much are those living in Barningham earning?

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 Barningham. Compare the area’s average household income of £42,900.00 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 30% for more conclusive data on the affluence of the area.

For the city of Barningham, what is the education level?

In the city of Barningham, 34% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Barningham is £42,900.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

In Barningham, what is the social grade score?

In the city of Barningham 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 Barningham has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 30%.

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

The city of Barningham, situated in Durham, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Barningham 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 Barningham. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Choose the right house for sale that suits your needs

When browsing houses for sale in Barningham you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – it is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale. Especially if you are renting the property as this will impact your business costs. Whether that be in an excluded tenancy agreement or a more common, assured shorthold tenancy.

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • 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.

Why you should consider the average rental yield when searching for houses for sale in Barningham

What is the growth in the housing market of Barningham?

Before committing to Barningham 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
Barningham growth rate 24% 38% 39%

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 Barningham is building housing to find your answer.

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 Barningham, 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 Durham, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Barningham no relevant data for this city no relevant data for this city no relevant data for this city £0
Durham 4.93% £607.25 132.62% 16.57%
North East 0.05 757.25 £1 19.25%

Assuming that in the future you want to re-sell the house you will eventually purchased in Barningham you might be interested in the number of sales per month (2) that happen in the local housing market. Comparing this figure for Barningham with the above table gives you a good understanding of the profitability of the area.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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