Ganstead – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North East $ Ganstead – What to look for in houses for sale?

Ganstead might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of East Riding of Yorkshire.
Before looking for a house for sale in the city of Ganstead we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Ganstead.

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

In the city of Ganstead, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £153,094
Average asking price (3 bed) £217,698
Average asking price (4 bed) £311,663
Average asking price (5 bed) no relevant data for this city

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 (£0) for houses for sale with this table to get a good idea as to whether Ganstead is the right area to buy a house in for you.

On average, in Ganstead, the asking price for a house for sale in the area is £223,470.

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 Ganstead. 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.

Are there any important statistics about the population of Ganstead?

What is the city of Ganstead’s social grade score?

In the city of Ganstead, the social grade score of the area is 17%. 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 Ganstead.

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 Ganstead, how has the population changed?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Ganstead is 12,361.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Ganstead.

In Ganstead, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Ganstead is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Ganstead population difference over 10 years?

The population has adjusted in the area of Ganstead by 3% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Ganstead.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

In Ganstead, how educated are people in general?

In Ganstead, the proportion of people who have a degree is 13%. 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 Ganstead is £38,600.

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.

Are the people in Ganstead 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 Ganstead. Compare the area’s average household income of £38,600 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 17% for more conclusive data on the affluence of the area.

Are the people of Ganstead deprived?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 32% for Ganstead should give you a nice idea of the deprivation in the area.

In the city of Ganstead, 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 East Riding of Yorkshire for example.

These demographics for Ganstead 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 Ganstead in North East.

In Ganstead, what is the crime rate?

In Ganstead, for every 1000 people, there is currently a crime rate of 47. 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 (47 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.

How much green space is available to residents of Ganstead?

In the city of Ganstead, there are 50.6 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 Ganstead is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

In general, what do houses for sale sell for in Ganstead?

In Ganstead, the average sale price of a house for sale is in fact £176,997. This is dependent on the 10 year population growth of Ganstead being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Ganstead.

Housing category Total final sale price
Aerage sold price (detached) £248,688
Aerage sold price (semi-detached) £149,928
Aerage sold price (terraced) £122,392
Aerage sold price (flat) no relevant data for this city

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 Ganstead.

Housing category Sale price per square foot
Aerage sold price/sqft £1,810
Aerage sold price/sqft (new build) £1,810
Aerage sold price/sqft (old stock) £1,720

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 £1,810. This means if you are just looking out the houses sold in Ganstead in general and didn’t take into consideration the type of build. For example, a new build.

Why you should consider the average rental yield when searching for houses for sale in Ganstead

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Ganstead to East Riding of Yorkshire and the broader suburb of the UK; North East.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Ganstead no relevant data for this city no relevant data for this city no relevant data for this city 15.0%
East Riding of Yorkshire 4.47% £653 122.00% 19.86%
North East 4.67% £757 123.96% 19.25%

Let’s assume you want to sell the house you’re looking to buy in Ganstead for profit in the future, in this case, looking at the data for the number of houses sold per month in Ganstead would give you an idea of whether the area is actively getting new investors. This figure is 10.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Ganstead. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

Is the housing market in Ganstead growing?

The growth of an area like Ganstead can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Ganstead growth rate 12% 18% 27%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Ganstead if you want to find out the exact reasons for the housing change.