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How much will you pay for a house for sale in Great Preston?

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 Great Preston?

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Great Preston 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 West Yorkshire.
Before looking for a house for sale in the city of Great Preston 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 Great Preston.

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

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. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.

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 into all the details of Great Preston.

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 (West Yorkshire) as well as the broader region; North East.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Great Preston £0 £828 no relevant data for this city £0
West Yorkshire 4.55% £778.32 125.25% 21.88%
North East 0.05 757.25 £1 19.25%

Also, you can compare other data to the table above such as the number of houses sold per month in Great Preston which is 19 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 Great Preston is to invest in. Both in terms of rental yield and capital appreciation.

In Great Preston, how has the number of houses changed?

Before committing to Great Preston 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
Great Preston growth rate 4% 16% 14%

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 Great Preston is building housing to find your answer.

Thinking of a different city and perhaps a different location?

If you are looking for a list of cities that are different to the City of Great Preston and in different UK region to North East. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

Choose the right house for sale that suits your needs

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Great Preston

  • 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.

What are the demographics like in the city of Great Preston?

Is the crime rate bad in the city of Great Preston?

The crime rate of Great Preston 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 9900%, 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 (9900%) is both useful and is recommended to be compared to the average.

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

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Great Preston currently has 19 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Great Preston in this case.

In Great Preston, what are the deprivation levels like?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Great Preston, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

What salary does the community in Great Preston take home?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£41,000.00 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 22% for Great Preston.

How educated are the people in Great Preston?

Interestingly, the percentage of people who have a degree in the city of Great Preston is 22%. 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 Great Preston is £41,000.00.

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.

What is a social grade score and how does this relate to Great Preston?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Great Preston, the percentage of people in the two highest categories, A and B is 22%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £41,000.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (22%).

In the city of Great Preston, has the population grown or shrunk?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Great Preston if 30301 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 Great Preston such as rental yield or house appreciation.

How has the population size of Great Preston adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Great Preston 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 Great Preston?

In the last decade, the population of Great Preston has been adjusted by 7%. 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.

Located in West Yorkshire is the city of Great Preston, in a large part of the UK; North East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Great Preston has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Great Preston which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

Get professional help on the houses for sale in Great Preston

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

On average, what is the figure for the asking price of a house for sale in Great Preston?

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 Great Preston 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 £256,014.

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 Great Preston.

Average price of houses for sale in Great Preston

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £189,677
Average asking price (3 bed) £247,386
Average asking price (4 bed) £385,707
Average asking price (5 bed) no relevant data for this city

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Great Preston has a lack of supply of housing in certain categories.

What is the final sale price of a house in Great Preston?

In Great Preston, the average sale price of a house for sale is in fact £208,345. This is dependent on the 10 year population growth of Great Preston being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Great Preston.

Housing category Total final sale price
Aerage sold price (detached) £316,058
Aerage sold price (semi-detached) £187,508
Aerage sold price (terraced) £157,100
Aerage sold price (flat) £127,206

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 Great Preston.

Housing category Sale price per square foot
Aerage sold price/sqft £2,270
Aerage sold price/sqft (new build) £2,530
Aerage sold price/sqft (old stock) £2,140

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 £2,270. This means if you are just looking out the houses sold in Great Preston in general and didn’t take into consideration the type of build. For example, a new build.

Frequently Asked Questions (FAQ)

Are there opportunities for property renovation in Great Preston?

Amidst the urban landscape of Great Preston, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 14 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (30301).

What’s the number of property sales each month in Great Preston?

The city of Great Preston sees around 19 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

What is the population change each year in a city like Great Preston?

For a comprehensive analysis of Great Preston’s population trends, observe the population fluctuation over a decade, indicated by 7%, and the five-year alteration represented by 3%. Perhaps also look at data from another nearby city too so you can see a comparison.

What is the asking price for houses for sale in the wider region of Great Preston?

Currently, the mean asking price of a house in Great Preston is £0, calculated using the average value per square foot

Is investing in a house for sale in Great Preston a financially demanding choice?

To work out if you are looking at an expensive property, find a house for sale and compare it to the average prices sell for. In Great Preston this number is £208,345 and in the average for the UK is £286,500. Also, make sure you don’t miss a crucial step by following our tutorial when buying a house

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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