Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Carrville, Durham.
From the average asking price of houses for sale in Carrville to the growth of the population in the area, all will be talked about regarding the city of Carrville. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
How are rental yields of the houses for sale different to the rest of the UK in Carrville?
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 Carrville to Durham and the broader suburb of the UK; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Carrville for profit in the future, in this case, looking at the data for the number of houses sold per month in Carrville would give you an idea of whether the area is actively getting new investors. This figure is 32.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Carrville. 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 is the growth in the housing market of Carrville?
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 Carrville that shows the growth in recent years.
|1 year||3 years||5 years|
|Carrville growth rate||-2%||7%||8%|
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 Carrville is important.
What kind of demographics does the city of Carrville have?
What salary does the community in Carrville 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 (32%). 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 Carrville, this works out to be £42,100. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the crime rate bad in the city of Carrville?
The crime rate of Carrville 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 112, 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 (112) is both useful and is recommended to be compared to the average.
The city of Carrville, situated in Durham, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Carrville 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 Carrville. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What is the population of Carrville?
The city of Carrville has a total population of 49,938. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Carrville is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Carrville
Over time, in the last five years, the population of the city of Carrville has changed by 3%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 3% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Carrville?
In the last 10 years, there has been a shift in the population of 4%.
Comparing this to the 5 year figure of Carrville can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
How deprived is the population of Carrville?
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 Carrville, in particular, the deprivation levels are 18%.
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’s a social grade score and how does it relate to Carrville?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Carrville compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Carrville, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 32%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|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 Carrville, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Carrville is 36%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Carrville is £42,100.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
Do the people of Carrville 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 Carrville, 13.6 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 Carrville.
On average, what is the figure for the asking price of a house for sale in Carrville?
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 Carrville is £249,188.
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 Carrville is useful when negotiating and knowing what to expect for every type of house for sale.
The average asking price for the houses for sale in the city of Carrville
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£168,065|
|Average asking price (3 bed)||£219,921|
|Average asking price (4 bed)||£400,391|
|Average asking price (5 bed)||£513,571|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Carrville 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.
In general, for the city of Carrville, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Carrville. In Carrville, this sale price works out to be £201,988. As an example, a factor like population growth over the last 10 years which works out to be 4% in Carrville and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£343,250|
|Average sold price (semi-detached)||£169,763|
|Average sold price (terraced)||£167,992|
|Average sold price (flat)||£129,090|
Above, the exact type of house is also shown to vary in price in a table in Carrville. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,010|
|Average sold price/sqft (new build)||£2,650|
|Average sold price/sqft (old stock)||£1,850|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Carrville which is £2,010. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Professional advice for houses for sale in Carrville
Thinking about 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 Carrville:
- Dewsbury-Moor in North East
- Station-Town in North East
- Arkendale in North East
- Bingfield in North East
- Askwith in North East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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
A house for sale that is right for you
What parameters impact the final price of a house for sale in Carrville?
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.