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What is it like buying a house in Bomarsund?

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 Bomarsund?

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 Bomarsund, Northumberland.

From the average asking price of houses for sale in Bomarsund to the growth of the population in the area, all will be talked about regarding the city of Bomarsund. 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 Bomarsund?

For the city of Bomarsund, the average price a house sells for is £111,231. This value usually depends on the exact location of the house within Bomarsund as well as other factors like the population growth in Bomarsund which is 3% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £185,238
Aerage sold price (semi-detached) £115,724
Aerage sold price (terraced) £87,030
Aerage sold price (flat) £39,592

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 Bomarsund.

Housing category Sale price per square foot
Aerage sold price/sqft £1,230
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £1,180

Generalising the bottom table, the average value per square foot of a house for sale is £1,230. This value averages all of the types of houses for sale in Bomarsund. 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 Bomarsund.

Always consider average rental yield when searching for houses for sale in Bomarsund

Is the housing market in Bomarsund growing?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Bomarsund at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Bomarsund growth rate 11% 16% 26%

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Bomarsund gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Bomarsund.

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 Bomarsund 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 Bomarsund.

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)
Bomarsund no relevant data for this city no relevant data for this city no relevant data for this city 24.0%
Northumberland 4.28% £659 106.75% 18.57%
North East 4.67% £757 123.96% 19.25%

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 Bomarsund.

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 (8) will be useful.

In Bomarsund, what is the asking price in general for a house for sale?

When speaking about the city of Bomarsund, £141,447 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 Bomarsund.

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 Bomarsund

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £122,027
Average asking price (3 bed) £145,373
Average asking price (4 bed) no relevant data for this city
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 Bomarsund is the right area to buy a house in for you.

What are the demographics like in the city of Bomarsund?

Is the education level of Bomarsund important when buying a house?

In Bomarsund, the proportion of people who have a degree is 18%. 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 Bomarsund is £36,500.

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.

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

Whether you view green space in Bomarsund as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Bomarsund, the number of acres of green space for every 1000 people currently is 25.5 which can be measured against the UK average of 1.7.

Bomarsund within Northumberland is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Bomarsund will be looked at by comparing it to the local region, as well as comparing it to the wider region too (North East). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Bomarsund.

Are the people in Bomarsund earning a lot?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (12%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Bomarsund, this works out to be £36,500. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In general, do people commit a lot of crime in Bomarsund?

For every one thousand people living in Bomarsund, 84 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 84 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 social grade score of Bomarsund?

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 Bomarsund 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 Bomarsund, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 12%.

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

In Bomarsund, what are the deprivation levels like?

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 Bomarsund, in particular, the deprivation levels are 27%.

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 population of Bomarsund?

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 Bomarsund is 9,507.

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 Bomarsund.

In Bomarsund, 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 Bomarsund 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.

Bomarsund population difference over 10 years?

The population has adjusted in the area of Bomarsund by 3% 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 Bomarsund.

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.

Advice from experts on properties for sale in Bomarsund

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

House for sale in the same UK region

Examine this short list of cities belonging to North East, the same region where Bomarsund is located.

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.

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Bomarsund.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • 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.

  • 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

  • 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

  • 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.

  • 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

  • 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

  • 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.

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