As a landlord, whenever you are looking at houses for sale in Tyne and Wear, you could find varying prices throughout an area like Byker. 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 Byker 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 Byker will be revealed. Keep reading.
What are the people like in Byker?
In Byker, what are the deprivation levels like?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of £0 for Byker should give you a nice idea of the deprivation in the area.
In Byker, what is the crime rate?
The crime rate of Byker must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 19900%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (19900%) is both useful and is recommended to be compared to the average.
What is a social grade score and how does this relate to Byker?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Byker in grades A or B which are the highest skilled roles in the country is 13%.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £31,100.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 13%.
In the city of Byker, how much green space remains for residents?
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 Byker, 11 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 Byker.
The city of Byker, situated in Tyne and Wear, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Byker and its demographics will be compared to its wider location (North East). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Byker. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Are the people in Byker 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 (13%). 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 Byker, this works out to be £31,100.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
How educated are the people in Byker?
In the city of Byker, 21% 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 Byker is £31,100.00.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In the city of Byker, has the population grown or shrunk?
Population growth in Byker 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 Byker, 50441 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 Byker 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 Byker, this change has been 6%. 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 6%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Byker?
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 11% in Byker.
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.
In Byker, what do houses for sale tend to sell for?
In Byker, the average sale price of a house for sale is in fact £142,268. This is dependent on the 10 year population growth of Byker being 11%. Growing populations are more likely to inflate the prices of houses for sale in the city of Byker.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£177,382|
|Aerage sold price (semi-detached)||£151,913|
|Aerage sold price (terraced)||£152,428|
|Aerage sold price (flat)||£117,436|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Byker.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,660|
|Aerage sold price/sqft (new build)||£1,750|
|Aerage sold price/sqft (old stock)||£1,590|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £1,660. This means if you are just looking out the houses sold in Byker in general and didn’t take into consideration the type of build. For example, a new build.
Asking price in Byker for a house for sale
Average price of houses for sale in Byker
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£125,525|
|Average asking price (3 bed)||£161,796|
|Average asking price (4 bed)||£235,418|
|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 Byker has a lack of supply of housing in certain categories.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Byker is £145,109.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Byker is useful when negotiating and knowing what to expect for every type of house for sale.
Are you considering other cities with houses for sale?
We have prepared a list of cities that are entirely dissimilar to the region of North East, perfect if you are looking for somewhere similar to Byker but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:
- beaconsfield in North East
- chineham in North East
- bingley in North East
- bastwick in North East
- alderholt in North East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.
Who can help you buy a house for sale in Byker?
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
Finding the ideal house for sale for you
When browsing houses for sale in Byker you should think about lots of different criteria:
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
Internet speed in the area of the house for sale – it is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale. Especially if you are renting the property as this will impact your business costs. Whether that be in an excluded tenancy agreement or a more common, assured shorthold tenancy.
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Always consider average rental yield when searching for houses for sale in Byker
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 Byker this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside Tyne and Wear 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 Byker.
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)|
|Tyne and Wear||5.54%||£749.28||138.20%||21.54%|
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 Byker.
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 (33) will be useful.
Are there more or fewer houses being built in Byker?
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 Byker at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Byker growth rate||no relevant data for this city||3%||13%|
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 Byker 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 Byker.