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A guide on houses for sale in Bowburn

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North East $ A guide on houses for sale in Bowburn

Whenever looking for a house for sale in the UK or in Bowburn, it is vital you look at the market trends and house price fluctuations in the wider area of Durham 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 Bowburn.

In this article, we will be looking at the city of Bowburn in detail so you know how to navigate the area and have a better understanding on where to invest.

What is the final sale price of a house in Bowburn?

As well as looking at the asking price for house for sale in Bowburn, 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 Bowburn.

Houses for sale, are sold on average in Bowburn, after the influence of these factors, at £113,112 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 4% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £184,685
Aerage sold price (semi-detached) £94,283
Aerage sold price (terraced) £80,477
Aerage sold price (flat) £44,750

This table above shows the average sale price for each variation of houses for sale in Bowburn.

Housing category Sale price per square foot
Aerage sold price/sqft £1,270
Aerage sold price/sqft (new build) £1,650
Aerage sold price/sqft (old stock) £1,150

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 Bowburn is £1,270.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

How are rental yields of the houses for sale different to the rest of the UK in Bowburn?

Is the housing market in Bowburn growing?

The growth of an area like Bowburn 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
Bowburn growth rate -1% 7% 11%

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 Bowburn if you want to find out the exact reasons for the housing change.

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 Bowburn this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (North East) alongside Durham 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 Bowburn.

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)
Bowburn 5.0% £539 117% 17.0%
Durham 4.93% £607 132.62% 16.57%
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 Bowburn.

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 (27) will be useful.

On average, what is the figure for the asking price of a house for sale in Bowburn?

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 Bowburn 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 £129,836.

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 Bowburn.

In the city of Bowburn, 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) £84,790
Average asking price (3 bed) £135,400
Average asking price (4 bed) £245,662
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 Bowburn is the right area to buy a house in for you.

Are there any important statistics about the population of Bowburn?

What’s the crime rate in Bowburn?

Within Bowburn, the number of people committing crimes is 126 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 126 figure carefully.

In Bowburn, 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 Bowburn, in particular, the deprivation levels are 31%.

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 Bowburn?

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 Bowburn is 33,466.

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 Bowburn.

In Bowburn, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 3%. 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 Bowburn 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 (3%) 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.

Bowburn population difference over 10 years?

The population has adjusted in the area of Bowburn by 4% 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 Bowburn.

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.

What is a social grade score and how does this relate to Bowburn?

In the city of Bowburn, the social grade score of the area is 15%. 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 Bowburn.

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 Bowburn, how educated are people in general?

In the city of Bowburn, 23% 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 Bowburn is £34,400. 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.

How much are those living in Bowburn earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£34,400 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 15% for Bowburn.

Bowburn in the county of Durham 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 Bowburn 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 Bowburn, 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.

In the city of Bowburn, how much green space remains for residents?

In the city of Bowburn, there are 16.2 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 Bowburn is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Invest in houses for sale in Bowburn with the right professional advice

Are you considering other cities with houses for sale?

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 Bowburn:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

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

A house for sale that is right for you

Many criteria impact the price of houses for sale in Bowburn.
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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