Whenever looking for a house for sale in the UK or in Belsay, it is vital you look at the market trends and house price fluctuations in the wider area of Northumberland 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 Belsay.
In this article, we will be looking at the city of Belsay in detail so you know how to navigate the area and have a better understanding on where to invest.
In general, for the city of Belsay, what are the final purchase prices for the houses for sale?
For the city of Belsay, the average price a house sells for is £410,407. This value usually depends on the exact location of the house within Belsay as well as other factors like the population growth in Belsay which is 3% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£497,169|
|Aerage sold price (semi-detached)||£280,355|
|Aerage sold price (terraced)||£224,319|
|Aerage sold price (flat)||£171,336|
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 Belsay.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,770|
|Aerage sold price/sqft (new build)||£2,870|
|Aerage sold price/sqft (old stock)||£2,650|
Generalising the bottom table, the average value per square foot of a house for sale is £2,770. This value averages all of the types of houses for sale in Belsay. 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 Belsay.
Asking price in Belsay for a house for sale
Average price of houses for sale in Belsay
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£251,769|
|Average asking price (3 bed)||£377,722|
|Average asking price (4 bed)||£573,524|
|Average asking price (5 bed)||£834,647|
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 Belsay has a lack of supply of housing in certain categories.
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 Belsay 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 £518,200.
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 Belsay.
Why you should consider the average rental yield when searching for houses for sale in Belsay
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Belsay this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside Northumberland then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Belsay.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Belsay||no relevant data for this city||no relevant data for this city||no relevant data for this city||11.0%|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Belsay.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (9) will be useful.
Are there new houses being built in Belsay 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 Belsay that shows the growth in recent years.
|1 year||3 years||5 years|
|Belsay growth rate||6%||29%||22%|
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 Belsay is important.
In Belsay, what are the demographics like?
Have the people of Belsay 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 Belsay if 11,796 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 Belsay such as rental yield or house appreciation.
How has the population size of Belsay adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Belsay by 2%. 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 2% 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 Belsay?
In the last decade, the population of Belsay 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.
How much do people in Belsay earn?
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 Belsay. Compare the area’s average household income of £47,600 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 44% for more conclusive data on the affluence of the area.
Is the city of Belsay 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 Belsay, in particular, the deprivation levels are 12%.
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 the city of Belsay, 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 Northumberland for example.
These demographics for Belsay 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 Belsay in North East.
Do the people of Belsay get to enjoy green space?
In the city of Belsay, there are 45.9 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 Belsay is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is the education level like in Belsay?
In the city of Belsay, 43% 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 Belsay is £47,600. 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.
What’s crime like in Belsay?
For every one thousand people living in Belsay, 72 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 72 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
What is the city of Belsay’s social grade score?
In the city of Belsay, the social grade score of the area is 44%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Belsay.
|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|
Get professional help on the houses for sale in Belsay
A house for sale appropriate to your needs
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 Belsay.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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.
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.
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.
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.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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
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.
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
houses for sale in other cities in the UK
Examine this short list of cities belonging to North East, the same region where Belsay is located.
- Longbenton in North East
- Bearpark in North East
- East-Boldon in North East
- Forest-Hall in North East
- Adel in North East
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.