Boston Spa 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 Boston Spa.
On top of this, keep reading for detailed information on the demographics of Boston Spa in West Yorkshire. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
Why you should consider the average rental yield when searching for houses for sale in Boston Spa
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 Boston Spa, 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 West Yorkshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Boston Spa | 3.3% | £1,210 | no relevant data for this city | 18.0% |
| West Yorkshire | 4.55% | £778 | 125.25% | 21.88% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Boston Spa you might be interested in the number of sales per month (10) that happen in the local housing market. Comparing this figure for Boston Spa with the above table gives you a good understanding of the profitability of the area.
What is the growth in the housing market of Boston Spa?
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 Boston Spa that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Boston Spa growth rate | 26% | 31% | 19% |
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 Boston Spa is important.
In Boston Spa, what do houses for sale tend to sell for?
For the city of Boston Spa, the average price a house sells for is £335,713. This value usually depends on the exact location of the house within Boston Spa as well as other factors like the population growth in Boston Spa which is 7% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £483,583 |
| Aerage sold price (semi-detached) | £281,659 |
| Aerage sold price (terraced) | £275,470 |
| Aerage sold price (flat) | £183,026 |
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 Boston Spa.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,120 |
| Aerage sold price/sqft (new build) | £3,030 |
| Aerage sold price/sqft (old stock) | £3,070 |
Generalising the bottom table, the average value per square foot of a house for sale is £3,120. This value averages all of the types of houses for sale in Boston Spa. 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 Boston Spa.
In Boston Spa, what is the asking price in general for a house for sale?
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 Boston Spa 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 £441,420.
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 Boston Spa.
In the city of Boston Spa, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £268,708 |
| Average asking price (3 bed) | £354,177 |
| Average asking price (4 bed) | £587,053 |
| Average asking price (5 bed) | no relevant data for this city |
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 Boston Spa has a lack of supply of housing in certain categories.
What are the people like in Boston Spa?
For the city of Boston Spa, what is the education level?
In the city of Boston Spa, 36% 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 Boston Spa is £47,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In the city of Boston Spa, is there a lot of green space?
In the city of Boston Spa, there are 5.3 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 Boston Spa is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is a social grade score and how does this relate to Boston Spa?
In the city of Boston Spa, the social grade score of the area is 41%. 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 Boston Spa.
| 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 |
Are the deprivation levels of the UK any different to Boston Spa?
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 Boston Spa, in particular, the deprivation levels are 17%.
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 salary does the community in Boston Spa take home?
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 (41%). 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 Boston Spa, this works out to be £47,600. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
What’s the crime rate in Boston Spa?
For the city of Boston Spa, crime rate is at 63. So for every 1000 people in the area, 63 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
Located in West Yorkshire is the city of Boston Spa, in a large part of the UK; North East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Boston Spa has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Boston Spa which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What is the population of Boston Spa?
Population growth in Boston Spa is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Boston Spa, 9,149 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Boston Spa in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Boston Spa, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Boston Spa?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 7% in Boston Spa.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
Who can help you buy a house for sale in Boston Spa?
A house for sale that is right for you
What parameters impact the final price of a house for sale in Boston Spa?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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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.
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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.
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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.
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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
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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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.
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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.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
House for sale in the same UK region
You can assess the various houses for sale offered in the area by consulting this list of cities in North East, the same UK region as Boston Spa:
- Filey in North East
- Arkendale in North East
- Carlton in North East
- Birtley in North East
- Acaster-Malbis in North East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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