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 Billy Row, Durham.
From the average asking price of houses for sale in Billy Row to the growth of the population in the area, all will be talked about regarding the city of Billy Row. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What are the demographics like in the city of Billy Row?
What is the social grade score of Billy Row?
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 Billy Row in grades A or B which are the highest skilled roles in the country is 14%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £32,600 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 14%.
Have the people of Billy Row 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 Billy Row if 22,470 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 Billy Row such as rental yield or house appreciation.
How has the population size of Billy Row adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Billy Row by 3%. 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 3% 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 Billy Row?
In the last decade, the population of Billy Row has been adjusted by 4%. 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.
Is there sufficient green space in Billy Row?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Billy Row, 15.9 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Billy Row.
In the city of Billy Row, 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 Durham for example.
These demographics for Billy Row 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 Billy Row in North East.
For the city of Billy Row, what is the education level?
In the city of Billy Row, 17% 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 Billy Row is £32,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What’s the crime rate in Billy Row?
For every one thousand people living in Billy Row, 128 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 128 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 salary does the community in Billy Row take home?
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 £32,600.
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 Billy Row this figure is 14%.
Is the city of Billy Row 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 Billy Row, 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.
What is the asking price on average of houses for sale in Billy Row?
When speaking about the city of Billy Row, £120,969 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Billy Row.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
The average asking price for the houses for sale in the city of Billy Row
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £86,015 |
| Average asking price (3 bed) | £127,813 |
| Average asking price (4 bed) | £222,184 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Billy Row is the right area to buy a house in for you.
What is the final sale price of a house in Billy Row?
In Billy Row, the average sale price of a house for sale is in fact £108,476. This is dependent on the 10 year population growth of Billy Row being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Billy Row.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £183,809 |
| Aerage sold price (semi-detached) | £103,954 |
| Aerage sold price (terraced) | £69,348 |
| Aerage sold price (flat) | no relevant data for this city |
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 Billy Row.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,110 |
| Aerage sold price/sqft (new build) | £1,600 |
| Aerage sold price/sqft (old stock) | £1,050 |
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 £1,110. This means if you are just looking out the houses sold in Billy Row in general and didn’t take into consideration the type of build. For example, a new build.
In Billy Row, what are the rental yields?
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Billy Row.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Durham) as well as the broader region; North East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Billy Row | 4.9% | £497 | no relevant data for this city | 14.0% |
| Durham | 4.93% | £607 | 132.62% | 16.57% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Also, you can compare other data to the table above such as the number of houses sold per month in Billy Row which is 16 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Billy Row is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Billy Row?
The growth of an area like Billy Row can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Billy Row growth rate | -7% | 10% | 10% |
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Billy Row if you want to find out the exact reasons for the housing change.
Invest in houses for sale in Billy Row with the right professional advice
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
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to Billy Row.
Reading these analysis will help you evaluate the different houses for sale currently listed in North East:
- Adel in North East
- Harton in North East
- Kingston in North East
- Langbar in North East
- Brompton 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.
A house for sale appropriate to your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Billy Row
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
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Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
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Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
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EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
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Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
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Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
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Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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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.
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