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Great Preston – 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 $ Great Preston – What to look for in houses for sale?

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 Great Preston, West Yorkshire.

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

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

What’s a social grade score and how does it relate to Great Preston?

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 Great Preston in grades A or B which are the highest skilled roles in the country is 22%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £41,000 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 22%.

In Great Preston, what are the deprivation levels like?

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 25% for Great Preston should give you a nice idea of the deprivation in the area.

How much green space is available to residents of Great Preston?

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 19.0 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.

Are the people in Great Preston earning a lot?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (22%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Great Preston, this works out to be £41,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In Great Preston, how educated are people in general?

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.

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.

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.

Have the people of Great Preston grown in numbers?

The city of Great Preston has a total population of 30,301. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Great Preston is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Great Preston

Over time, in the last five years, the population of the city of Great Preston has changed by 3%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 3% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Great Preston?

In the last 10 years, there has been a shift in the population of 7%.

Comparing this to the 5 year figure of Great Preston can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

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

Within Great Preston, the number of people committing crimes is 99 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 99 figure carefully.

How are rental yields of the houses for sale different to the rest of the UK in Great Preston?

Are there more or fewer houses being built in Great Preston?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Great Preston that shows the growth in recent years.

1 year 3 years 5 years
Great Preston growth rate 4% 16% 14%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Great Preston is important.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Great Preston. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Great Preston.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (West Yorkshire), a regional level (North East) and finally on the level of the city talked about in this article, Great Preston.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Great Preston 3.9% £828 no relevant data for this city 26.0%
West Yorkshire 4.55% £778 125.25% 21.88%
North East 4.67% £757 123.96% 19.25%

You may also find it useful to compare the data above to the number of properties sold per month Great Preston experiences. This figure for house sales per month is 28. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

In Great Preston, what do houses for sale tend to sell for?

As well as looking at the asking price for house for sale in Great Preston, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Great Preston.

Houses for sale, are sold on average in Great Preston, after the influence of these factors, at £208,345 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 7% over the last 10 years.

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

This table above shows the average sale price for each variation of 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

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Great Preston is £2,270.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

What are the asking prices for the houses for sale in the city of 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

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 Great Preston is the right area to buy a house in for you.

On average, in Great Preston, the asking price for a house for sale in the area is £256,014.

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 Great Preston. 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.

Professional advice for houses for sale in Great Preston

Finding the ideal house for sale for you

When browsing houses for sale in Great Preston you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • 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.

houses for sale in other cities in the UK

Examine this short list of cities belonging to North East, the same region where Great Preston is located.

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.

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

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