As a landlord, whenever you are looking at houses for sale in West Yorkshire, you could find varying prices throughout an area like Fearnville. 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 Fearnville 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 Fearnville will be revealed. Keep reading.
What are the demographics like in the city of Fearnville?
In Fearnville, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Fearnville is 33%. 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 Fearnville 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.
Is the crime rate bad in the city of Fearnville?
The crime rate of Fearnville 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 145, 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 (145) is both useful and is recommended to be compared to the average.
Is there sufficient green space in Fearnville?
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 Fearnville, 11.9 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 Fearnville.
How much do people in Fearnville earn?
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 Fearnville. 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 27% for more conclusive data on the affluence of the area.
In Fearnville, what are the deprivation levels like?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Fearnville is 28% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
In the city of Fearnville, 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 West Yorkshire for example.
These demographics for Fearnville 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 Fearnville in North East.
What is the city of Fearnville’s social grade score?
In the city of Fearnville, the social grade score of the area is 27%. 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 Fearnville.
|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 Fearnville, how has the population changed?
Population growth in Fearnville 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 Fearnville, 47,781 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 Fearnville 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 Fearnville, this change has been 3%. 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 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Fearnville?
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 7% in Fearnville.
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.
Always consider average rental yield when searching for houses for sale in Fearnville
In Fearnville, how has the number of houses changed?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Fearnville at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Fearnville growth rate||-2%||20%||22%|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Fearnville gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Fearnville.
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 Fearnville this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside West Yorkshire 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 Fearnville.
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)|
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 Fearnville.
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 (26) will be useful.
In Fearnville, what do houses for sale tend to sell for?
For the city of Fearnville, the average price a house sells for is £230,389. This value usually depends on the exact location of the house within Fearnville as well as other factors like the population growth in Fearnville which is 7% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£452,629|
|Aerage sold price (semi-detached)||£259,512|
|Aerage sold price (terraced)||£131,010|
|Aerage sold price (flat)||£152,471|
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 Fearnville.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,390|
|Aerage sold price/sqft (new build)||£3,420|
|Aerage sold price/sqft (old stock)||£2,260|
Generalising the bottom table, the average value per square foot of a house for sale is £2,690. This value averages all of the types of houses for sale in Fearnville. 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 Fearnville.
In Fearnville, what is the asking price in general for a house for sale?
Average asking prices for houses for sale in Fearnville
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£161,974|
|Average asking price (3 bed)||£286,963|
|Average asking price (4 bed)||£382,286|
|Average asking price (5 bed)||£672,497|
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£2,990) for houses for sale with this table to get a good idea as to whether Fearnville is the right area to buy a house in for you.
On average, in Fearnville, the asking price for a house for sale in the area is £270,555.
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 Fearnville. 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.
Invest in houses for sale in Fearnville with the right professional advice
A house for sale that is right for you
What parameters impact the final price of a house for sale in Fearnville?
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.
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
Thinking about other cities with houses for sale?
We have prepared a list of cities in North East, the same UK region of Fearnville that can help you evaluate the different houses for sale listed in the region:
- Austhorpe in North East
- Newbiggin-By-The-Sea in North East
- East-Ayton in North East
- Guiseley in North East
- Heckmondwike in North East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.