As a landlord, whenever you are looking at houses for sale in North Yorkshire, you could find varying prices throughout an area like Crathorne. 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 Crathorne 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 Crathorne will be revealed. Keep reading.
In Crathorne, what do houses for sale tend to sell for?
For the city of Crathorne, the average price a house sells for is £262,008. This value usually depends on the exact location of the house within Crathorne as well as other factors like the population growth in Crathorne which is 3% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £317,259 |
| Aerage sold price (semi-detached) | £183,551 |
| Aerage sold price (terraced) | £175,756 |
| Aerage sold price (flat) | £136,001 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Crathorne.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,250 |
| Aerage sold price/sqft (new build) | £2,330 |
| Aerage sold price/sqft (old stock) | £2,130 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,250. This value averages all of the types of houses for sale in Crathorne. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Crathorne.
What kind of demographics does the city of Crathorne have?
How deprived is the population of Crathorne?
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 Crathorne is 12%.
What does the population of Crathorne look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Crathorne if 12,891 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 Crathorne such as rental yield or house appreciation.
How has the population size of Crathorne adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Crathorne 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 Crathorne?
In the last decade, the population of Crathorne has been adjusted by 3%. 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.
How much do people in Crathorne earn?
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 Crathorne, the average income is £47,000. 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 39% to decide on what the demographics are like in the area.
What is the social grade score of Crathorne?
In the city of Crathorne, the social grade score of the area is 39%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Crathorne.
| 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 |
What’s the crime rate in Crathorne?
For the city of Crathorne, crime rate is at 71. So for every 1000 people in the area, 71 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 the city of Crathorne, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of North Yorkshire for example.
These demographics for Crathorne may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Crathorne in North East.
How educated are the people in Crathorne?
The number of people as a percentage who have been through university and gained a degree is 40%. The ability to buy a home is greatly influenced by the number of people who have degrees. £47,000 is the amount people in Crathorne 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 Crathorne, 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.
In the city of Crathorne, how much green space remains for residents?
In the city of Crathorne, there are 5.9 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 Crathorne is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Asking price in Crathorne for a house for sale
Table showing the asking prices for houses for sale in Crathorne
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £179,183 |
| Average asking price (3 bed) | £242,306 |
| Average asking price (4 bed) | £370,999 |
| Average asking price (5 bed) | £617,264 |
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Crathorne is £0. This should show you the general prices overall and for individual types of houses too.
On average, in Crathorne, the asking price for a house for sale in the area is £307,167.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Crathorne. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Always consider average rental yield when searching for houses for sale in Crathorne
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.
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 in to all the details of Crathorne.
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 (North Yorkshire) as well as the broader region; North East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Crathorne | 3.0% | £775 | no relevant data for this city | 22.0% |
| North Yorkshire | 3.44% | £909 | 121.00% | 17.57% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
Also, you can compare other data to the table above such as the number of houses sold per month in Crathorne which is 12 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 Crathorne is to invest in. Both in terms of rental yield and capital appreciation.
Is the housing market in Crathorne growing?
Before committing to Crathorne 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 | |
|---|---|---|---|
| Crathorne growth rate | -8% | -2% | -3% |
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 Crathorne is building housing to find your answer.
Professional advice for houses for sale in Crathorne
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
Other cities you can consider looking for with houses for sale
See here below a list of cities in the same UK region of Crathorne which is North East. You might want to consider these as alternatives for your next real estate investment:
- Trimdon in North East
- Ovingham in North East
- Kingston in North East
- Fellgate in North East
- Haltwhistle in North East
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
Finding the ideal house for sale for you
What parameters impact the final price of a house for sale in Crathorne?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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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.
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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.
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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.
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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
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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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.
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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.
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