Castleside might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Durham.
Before looking for a house for sale in the city of Castleside we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Castleside.
Professional advice for houses for sale in Castleside
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
Finding the ideal house for sale for you
What parameters impact the final price of a house for sale in Castleside?
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.
In Castleside, what is the asking price in general for a house for sale?
When investors make offers for houses for sale in Castleside, the average price asked by the homeowners works out to be £149,779.
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 Castleside 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 the city of Castleside, 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)||£92,289|
|Average asking price (3 bed)||£149,535|
|Average asking price (4 bed)||£260,179|
|Average asking price (5 bed)||£404,091|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Castleside 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.
Always consider average rental yield when searching for houses for sale in Castleside
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Castleside.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Durham) as well as the broader region; North East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Also, you can compare other data to the table above such as the number of houses sold per month in Castleside which is 29 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Castleside is to invest in. Both in terms of rental yield and capital appreciation.
Is the housing market in Castleside growing?
Whenever you are thinking about looking for houses for sale in Castleside, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Castleside growth rate||-4%||7%||8%|
As the population of Castleside grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
In general, what do houses for sale sell for in Castleside?
As well as looking at the asking price for house for sale in Castleside, 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 Castleside.
Houses for sale, are sold on average in Castleside, after the influence of these factors, at £123,089 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)||£212,265|
|Aerage sold price (semi-detached)||£116,699|
|Aerage sold price (terraced)||£86,882|
|Aerage sold price (flat)||£86,152|
This table above shows the average sale price for each variation of houses for sale in Castleside.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,300|
|Aerage sold price/sqft (new build)||£1,720|
|Aerage sold price/sqft (old stock)||£1,220|
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 Castleside is £1,300.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
House for sale in a different UK region
If you are looking for similar places to buy a house that are just like Castleside, examine this short list of cities below from outside of the region of North East for some inspiration.
- kensington in North East
- bassett in North East
- bramshill in North East
- gayton in North East
- cadole in North East
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
Are there any important statistics about the population of Castleside?
Do the people of Castleside get to enjoy green space?
In the city of Castleside, there are 11 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 Castleside is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Are the deprivation levels of the UK any different to Castleside?
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 Castleside is £0.
What is the education level like in Castleside?
Interestingly, the percentage of people who have a degree in the city of Castleside is 23%. 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 Castleside is £35,200.00.
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.
What salary does the community in Castleside take home?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Castleside, the average income is £35,200.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 17% to decide on what the demographics are like in the area.
What is the social grade score of Castleside?
In the city of Castleside and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Castleside has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 17%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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|
The city of Castleside, 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 Castleside 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 Castleside. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Have the people of Castleside grown in numbers?
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 Castleside is 38326.
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 Castleside.
In Castleside, 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 Castleside 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.
Castleside population difference over 10 years?
The population has adjusted in the area of Castleside 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 Castleside.
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.
Is the crime rate bad in the city of Castleside?
The crime rate of Castleside 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 8700%, 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 (8700%) is both useful and is recommended to be compared to the average.
Frequently Asked Questions (FAQ)
Are there opportunities for property renovation in Castleside?
If planning permissions are abundant in the vicinity of Castleside, it may look promising for landlords looking to renovate. With 10 getting approved on a monthly basis, and a success rate of nan, these prospects flourish against a population of 38326. A comparative analysis against other locations across the UK will lend you a good perspective of this data.
What’s the number of property sales each month in Castleside?
29 property transactions are reported in Castleside each month, alongside a broader picture of approximately 1.1 million property sales across the UK.
What’s the year-over-year population change in Castleside or similar cities?
For a comprehensive analysis of Castleside’s population trends, observe the population fluctuation over a decade, indicated by 4%, and the five-year alteration represented by 3%. Perhaps also look at data from another nearby city too so you can see a comparison.
What are the asking rates for houses for sale in the surrounding area of Castleside?
In Castleside, the mean asking price per square foot for a house is currently £0, based on the average value per square foot
Is purchasing a house in Castleside considered a costly decision?
To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Castleside, the value is £123,089, whereas the UK’s mean is £286,500