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A guide on houses for sale in Chopwell

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 Chopwell

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Whenever looking for a house for sale in the UK or in Chopwell, 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 Chopwell.

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

Asking price in Chopwell for a house for sale

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 Chopwell 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 £105,119.

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 Chopwell.

Average price of houses for sale in Chopwell

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £61,779
Average asking price (3 bed) £148,721
Average asking price (4 bed) no relevant data for this city
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Chopwell is £0. This should show you the general prices overall and for individual types of houses too.

Advice from experts on properties for sale in Chopwell

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

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

In Chopwell, houses for sale are sold at an average of £104,269. 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 Chopwell. 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) £219,243
Aerage sold price (semi-detached) £119,508
Aerage sold price (terraced) £68,587
Aerage sold price (flat) no relevant data for this city

As you can see above, for Chopwell, 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 £1,040
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £990

Looking at the second table about Chopwell, 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 Chopwell is £1,040.

Finding the ideal house for sale for you

When browsing houses for sale in Chopwell 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.

In Chopwell, what are the demographics like?

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

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 Chopwell, the percentage of people in the two highest categories, A and B is 14%. 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 £36,600.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (14%).

In general, do people commit a lot of crime in Chopwell?

For the city of Chopwell, crime rate is at 10000%. So for every 1000 people in the area, 10000% commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

In Chopwell, how educated are people in general?

In Chopwell, the proportion of people who have a degree is 20%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Chopwell is £36,600.00.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

How much are those living in Chopwell earning?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Chopwell. Compare the area’s average household income of £36,600.00 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 14% for more conclusive data on the affluence of the area.

Is the city of Chopwell deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Chopwell, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

Do the people of Chopwell get to enjoy green space?

In the city of Chopwell, there are 41 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 Chopwell is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Located in Durham is the city of Chopwell, 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 Chopwell 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 Chopwell 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.

In Chopwell, how has the population changed?

Population growth in Chopwell 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 Chopwell, 4890 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 Chopwell 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 Chopwell, this change has been 1%. 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 1%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Chopwell?

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 2% in Chopwell.

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.

houses for sale in other cities and regions in the UK

If you are looking for a list of cities that are different to the City of Chopwell and in different UK region to North East. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

What’s the rental yield in general for the city of Chopwell?

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 Chopwell.

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)
Chopwell no relevant data for this city no relevant data for this city no relevant data for this city £0
Durham 4.93% £607.25 132.62% 16.57%
North East 0.05 757.25 £1 19.25%

Also, you can compare other data to the table above such as the number of houses sold per month in Chopwell which is 6 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 Chopwell is to invest in. Both in terms of rental yield and capital appreciation.

In Chopwell, how has the number of houses changed?

Whenever you are thinking about looking for houses for sale in Chopwell, 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
Chopwell growth rate -3% -4% 17%

As the population of Chopwell 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.

FAQ

Are there opportunities for property renovation in Chopwell?

Properties in the city of Chopwell may have the potential for renovation if there are a lot of planning permission approvals based on the area. There are 1 approvals every month with an approval of 85% based on a population of 4890. Compare other places in the UK to make this figure make more sense.

What is the monthly count of property transactions in Chopwell?

6 property transactions are reported in Chopwell each month, alongside a broader picture of approximately 1.1 million property sales across the UK.

How does the population in a city like Chopwell change annually?

For a comprehensive analysis of Chopwell’s population trends, observe the population fluctuation over a decade, indicated by 2%, and the five-year alteration represented by 1%. Perhaps also look at data from another nearby city too so you can see a comparison.

prices for houses on sale in the broader vicinity of Chopwell?

The average asking price of a house in Chopwell is currently £0 based on the average price per square foot.

Would acquiring a house for sale in Chopwell be regarded as a high-priced option?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Chopwell, this stands at £104,269, whereas the UK’s mean is £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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