As a landlord, whenever you are looking at houses for sale in Durham, you could find varying prices throughout an area like Burnopfield. 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 Burnopfield 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 Burnopfield will be revealed. Keep reading.
What kind of demographics does the city of Burnopfield have?
Are the people in Burnopfield earning a lot?
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.
£39,100 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 25% for Burnopfield.
Located in Durham is the city of Burnopfield, 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 Burnopfield 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 Burnopfield 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.
Is the crime rate bad in the city of Burnopfield?
For every one thousand people living in Burnopfield, 63 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 63 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.
How much green space is available to residents of Burnopfield?
Whether you view green space in Burnopfield 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 Burnopfield, the number of acres of green space for every 1000 people currently is 30.2 which can be measured against the UK average of 1.7.
Is the city of Burnopfield deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Burnopfield is 22%.
What is the social grade score of Burnopfield?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Burnopfield, the percentage of people in the two highest categories, A and B is 25%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £39,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (25%).
Have the people of Burnopfield 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 Burnopfield if 25,637 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 Burnopfield such as rental yield or house appreciation.
How has the population size of Burnopfield adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Burnopfield 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 Burnopfield?
In the last decade, the population of Burnopfield has been adjusted by 2%. 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.
What is the education level like in Burnopfield?
The number of people as a percentage who have been through university and gained a degree is 27%. The ability to buy a home is greatly influenced by the number of people who have degrees. £39,100 is the amount people in Burnopfield are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Burnopfield, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
What’s the rental yield in general for the city of Burnopfield?
What is the growth in the housing market of Burnopfield?
Before committing to Burnopfield to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Burnopfield growth rate||-16%||-5%||5%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Burnopfield is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Burnopfield to Durham and the broader suburb of the UK; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Burnopfield||4.2%||£709||no relevant data for this city||27.0%|
Let’s assume you want to sell the house you’re looking to buy in Burnopfield for profit in the future, in this case, looking at the data for the number of houses sold per month in Burnopfield would give you an idea of whether the area is actively getting new investors. This figure is 25.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Burnopfield. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What are the asking prices for the houses for sale in the city of Burnopfield?
The average asking price for the houses for sale in the city of Burnopfield
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£131,526|
|Average asking price (3 bed)||£210,486|
|Average asking price (4 bed)||£368,434|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Burnopfield, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.
When investors make offers for houses for sale in Burnopfield, the average price asked by the homeowners works out to be £201,333.
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 Burnopfield 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.
In general, what do houses for sale sell for in Burnopfield?
In Burnopfield, houses for sale are sold at an average of £181,799. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Burnopfield. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£305,620|
|Aerage sold price (semi-detached)||£169,850|
|Aerage sold price (terraced)||£128,660|
|Aerage sold price (flat)||£96,628|
As you can see above, for Burnopfield, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 2% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,940|
|Aerage sold price/sqft (new build)||£2,420|
|Aerage sold price/sqft (old stock)||£1,820|
Looking at the second table about Burnopfield, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Burnopfield is £1,940.