How much will you pay for a house for sale in Cullercoats?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North East $ How much will you pay for a house for sale in Cullercoats?

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 Cullercoats, Tyne and Wear.

From the average asking price of houses for sale in Cullercoats to the growth of the population in the area, all will be talked about regarding the city of Cullercoats. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

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

In Cullercoats, the average sale price of a house for sale is in fact £233,785. This is dependent on the 10 year population growth of Cullercoats being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Cullercoats.

Housing category Total final sale price
Aerage sold price (detached) £372,992
Aerage sold price (semi-detached) £252,923
Aerage sold price (terraced) £255,973
Aerage sold price (flat) £140,430

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 Cullercoats.

Housing category Sale price per square foot
Aerage sold price/sqft £2,370
Aerage sold price/sqft (new build) £3,070
Aerage sold price/sqft (old stock) £2,280

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 £2,370. This means if you are just looking out the houses sold in Cullercoats in general and didn’t take into consideration the type of build. For example, a new build.

What kind of demographics does the city of Cullercoats have?

What is the social grade score of Cullercoats?

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 Cullercoats in grades A or B which are the highest skilled roles in the country is 31%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £40,400 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 31%.

What is the education level like in Cullercoats?

Interestingly, the percentage of people who have a degree in the city of Cullercoats is 32%. 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 Cullercoats is £40,400.

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.

Are the people of Cullercoats deprived?

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 Cullercoats, in particular, the deprivation levels are 21%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

The city of Cullercoats, 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 Cullercoats 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 Cullercoats. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Cullercoats, how has the population changed?

In total, the number of people in Cullercoats is 21,977. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Cullercoats, depending on where exactly you are.

How has Cullercoats changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Cullercoats has changed by 3%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Cullercoats?

4% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Cullercoats have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

In the city of Cullercoats, is there a lot of green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Cullercoats, the city has 12.5 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Cullercoats.

Are the people in Cullercoats earning a lot?

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 Cullercoats. Compare the area’s average household income of £40,400 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 31% for more conclusive data on the affluence of the area.

What’s crime like in Cullercoats?

In Cullercoats, for every 1000 people, there is currently a crime rate of 85. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (85 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

In Cullercoats, what is the asking price in general for a house for sale?

Table showing the asking prices for houses for sale in Cullercoats

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £196,006
Average asking price (3 bed) £314,983
Average asking price (4 bed) £483,497
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Cullercoats, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.

When speaking about the city of Cullercoats, £274,952 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Cullercoats.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Always consider average rental yield when searching for houses for sale in Cullercoats

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 Cullercoats 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 Cullercoats.

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)
Cullercoats 3.7% £847 140% 21.0%
Tyne and Wear 5.54% £749 138.20% 21.54%
North East 4.67% £757 123.96% 19.25%

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 Cullercoats.

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 (20) will be useful.

What is the growth in the housing market of Cullercoats?

Whenever you are thinking about looking for houses for sale in Cullercoats, 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
Cullercoats growth rate 7% 21% 34%

As the population of Cullercoats 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.