As a landlord, whenever you are looking at houses for sale in North Yorkshire, you could find varying prices throughout an area like Boroughbridge. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Boroughbridge to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Boroughbridge will be revealed. Keep reading.
What’s the rental yield in general for the city of Boroughbridge?
Are there more or fewer houses being built in Boroughbridge?
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 Boroughbridge at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Boroughbridge growth rate||-6%||5%||31%|
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 Boroughbridge 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 Boroughbridge.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Boroughbridge. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Boroughbridge.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (North Yorkshire), a regional level (North East) and finally on the level of the city talked about in this article, Boroughbridge.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Boroughbridge||no relevant data for this city||no relevant data for this city||no relevant data for this city||10.0%|
You may also find it useful to compare the data above to the number of properties sold per month Boroughbridge experiences. This figure for house sales per month is 7. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
In general, what do houses for sale sell for in Boroughbridge?
As well as looking at the asking price for house for sale in Boroughbridge, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Boroughbridge.
Houses for sale, are sold on average in Boroughbridge, after the influence of these factors, at £323,709 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£384,817|
|Aerage sold price (semi-detached)||£243,117|
|Aerage sold price (terraced)||£225,959|
|Aerage sold price (flat)||£121,699|
This table above shows the average sale price for each variation of houses for sale in Boroughbridge.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,690|
|Aerage sold price/sqft (new build)||£2,750|
|Aerage sold price/sqft (old stock)||£2,620|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Boroughbridge is £2,690.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What are the demographics like in the city of Boroughbridge?
How much do people in Boroughbridge earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Boroughbridge, the average income is £42,000. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 27% to decide on what the demographics are like in the area.
Are the people of Boroughbridge deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Boroughbridge, currently, 17% 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.
Do the people of Boroughbridge get to enjoy green space?
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 Boroughbridge, 5.7 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 Boroughbridge.
In Boroughbridge, what is the social grade score?
In the city of Boroughbridge 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 Boroughbridge has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 27%.
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|
Have the people of Boroughbridge 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 Boroughbridge if 5,541 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 Boroughbridge such as rental yield or house appreciation.
How has the population size of Boroughbridge adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Boroughbridge by 1%. 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 1% 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 Boroughbridge?
In the last decade, the population of Boroughbridge 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.
Boroughbridge in the county of North Yorkshire is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Boroughbridge is located in; North East.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Boroughbridge, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
Is the education level of Boroughbridge important when buying a house?
In the city of Boroughbridge, 29% 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 Boroughbridge is £42,000.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Is the crime rate bad in the city of Boroughbridge?
In Boroughbridge, for every 1000 people, there is currently a crime rate of 69. 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 (69 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.
In Boroughbridge, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of Boroughbridge
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||£315,225|
|Average asking price (4 bed)||£440,612|
|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 Boroughbridge 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 Boroughbridge, the average price asked by the homeowners works out to be £386,032.
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 Boroughbridge 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.
Professional advice for houses for sale in Boroughbridge
A house for sale appropriate to your needs
What parameters impact the final price of a house for sale in Boroughbridge?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
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
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Boroughbridge.
Reading these analysis will help you evaluate the different houses for sale currently listed in North East:
- Bildershaw in North East
- Birkin in North East
- Boroughbridge in North East
- Boston-Spa in North East
- Annfield-Plain 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.