Whenever looking for a house for sale in the UK or in Forest Hall, it is vital you look at the market trends and house price fluctuations in the wider area of Tyne and Wear 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 Forest Hall.
In this article, we will be looking at the city of Forest Hall in detail so you know how to navigate the area and have a better understanding on where to invest.
In Forest Hall, what do houses for sale tend to sell for?
In Forest Hall, houses for sale are sold at an average of £169,878. 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 Forest Hall. 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)||£288,188|
|Aerage sold price (semi-detached)||£160,534|
|Aerage sold price (terraced)||£141,940|
|Aerage sold price (flat)||£87,640|
As you can see above, for Forest Hall, 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 4% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,920|
|Aerage sold price/sqft (new build)||£2,350|
|Aerage sold price/sqft (old stock)||£1,780|
Looking at the second table about Forest Hall, 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 Forest Hall is £1,920.
In Forest Hall, what are the rental yields?
Is the housing market in Forest Hall growing?
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 Forest Hall at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Forest Hall growth rate||-1%||2%||6%|
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 Forest Hall 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 Forest Hall.
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 Forest Hall 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 Forest Hall.
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)|
|Forest Hall||5.0%||£762||no relevant data for this city||30.0%|
|Tyne and Wear||5.54%||£749||138.20%||21.54%|
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 Forest Hall.
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 (29) will be useful.
What kind of demographics does the city of Forest Hall have?
Forest Hall within Tyne and Wear is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Forest Hall will be looked at by comparing it to the local region, as well as comparing it to the wider region too (North East). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Forest Hall.
How much are those living in Forest Hall 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 Forest Hall. Compare the area’s average household income of £36,900 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 20% for more conclusive data on the affluence of the area.
For the city of Forest Hall, what is the education level?
In the city of Forest Hall, 24% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Forest Hall is £36,900.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In Forest Hall, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Forest Hall if 34,654 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 Forest Hall such as rental yield or house appreciation.
How has the population size of Forest Hall adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Forest Hall by 3%. 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 3% 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 Forest Hall?
In the last decade, the population of Forest Hall has been adjusted by 4%. 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.
Are the deprivation levels of the UK any different to Forest Hall?
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 Forest Hall is 25% 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.
What’s the crime rate in Forest Hall?
In Forest Hall, for every 1000 people, there is currently a crime rate of 106. 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 (106 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.
What is the social grade score of Forest Hall?
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 Forest Hall in grades A or B which are the highest skilled roles in the country is 20%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £36,900 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 20%.
Is there sufficient green space in Forest Hall?
In the city of Forest Hall, there are 20.8 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 Forest Hall is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Forest Hall, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of Forest Hall
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£123,962|
|Average asking price (3 bed)||£188,467|
|Average asking price (4 bed)||£359,077|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Forest Hall 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.
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 Forest Hall 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 £183,779.
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 Forest Hall.
Who can help you buy a house for sale in Forest Hall?
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
Examine this short list of cities belonging to North East, the same region where Forest Hall is located.
- Chickenley in North East
- Carleton in North East
- Easingwold in North East
- Beningbrough in North East
- Barmston in North East
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Invest in a house for sale that meets your demands
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Forest Hall
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.