fbpx

What is it like buying a house in Harlow Hill?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North East $ What is it like buying a house in Harlow Hill?

Whenever looking for a house for sale in the UK or in Harlow Hill, it is vital you look at the market trends and house price fluctuations in the wider area of Northumberland 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 Harlow Hill.

In this article, we will be looking at the city of Harlow Hill in detail so you know how to navigate the area and have a better understanding on where to invest.

What are the demographics like in the city of Harlow Hill?

Are the people of Harlow Hill 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 29% for Harlow Hill should give you a nice idea of the deprivation in the area.

Harlow Hill within Northumberland is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Harlow Hill 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 Harlow Hill.

In the city of Harlow Hill, has the population grown or shrunk?

The city of Harlow Hill has a total population of 32,552. 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 Harlow Hill 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 Harlow Hill

Over time, in the last five years, the population of the city of Harlow Hill has changed by 5%. 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 5% 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 Harlow Hill?

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

Comparing this to the 5 year figure of Harlow Hill 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 Harlow Hill?

For the city of Harlow Hill, crime rate is at 118. So for every 1000 people in the area, 118 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Is the education level of Harlow Hill important when buying a house?

In Harlow Hill, the proportion of people who have a degree is 19%. 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 Harlow Hill is £33,200.

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.

Do the people of Harlow Hill get to enjoy green space?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Harlow Hill, the city has 23.8 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Harlow Hill.

In Harlow Hill, what is the social grade score?

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 Harlow Hill, the percentage of people in the two highest categories, A and B is 12%. 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 £33,200. This income will generally get bigger as the percentage of people in the A and B categories go up too (12%).

How much are those living in Harlow Hill earning?

By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.

In Harlow Hill, the average income is £33,200. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.

When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 12% to decide on what the demographics are like in the area.

Always consider average rental yield when searching for houses for sale in Harlow Hill

Are there new houses being built in Harlow Hill to make it grow?

Whenever you are thinking about looking for houses for sale in Harlow Hill, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Harlow Hill growth rate -6% 10% 9%

As the population of Harlow Hill grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Harlow Hill, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; North East. As well as Northumberland, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Harlow Hill 4.5% £655 no relevant data for this city 16.0%
Northumberland 4.28% £659 106.75% 18.57%
North East 4.67% £757 123.96% 19.25%

Assuming that in the future you want to re-sell the house you will eventually purchased in Harlow Hill you might be interested in the number of sales per month (24) that happen in the local housing market. Comparing this figure for Harlow Hill with the above table gives you a good understanding of the profitability of the area.

What is the asking price on average of houses for sale in Harlow Hill?

On average, in Harlow Hill, the asking price for a house for sale in the area is £175,717.

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 Harlow Hill. 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.

Average price of houses for sale in Harlow Hill

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £118,956
Average asking price (3 bed) £178,642
Average asking price (4 bed) £314,333
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Harlow Hill is £0. This should show you the general prices overall and for individual types of houses too.

In Harlow Hill, what do houses for sale tend to sell for?

As well as looking at the asking price for house for sale in Harlow Hill, 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 Harlow Hill.

Houses for sale, are sold on average in Harlow Hill, after the influence of these factors, at £143,911 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 10% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £251,786
Aerage sold price (semi-detached) £142,106
Aerage sold price (terraced) £117,640
Aerage sold price (flat) £72,267

This table above shows the average sale price for each variation of houses for sale in Harlow Hill.

Housing category Sale price per square foot
Aerage sold price/sqft £1,600
Aerage sold price/sqft (new build) £1,890
Aerage sold price/sqft (old stock) £1,470

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 Harlow Hill is £1,600.

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

Advice from experts on properties for sale in Harlow Hill

Other cities you can consider looking for with houses for sale

You can assess the various houses for sale offered in the area by consulting this list of cities in North East, the same UK region as Harlow Hill:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

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

Choose the right house for sale that suits your needs

When browsing houses for sale in Harlow Hill 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.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *