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 Middridge, Durham.
From the average asking price of houses for sale in Middridge to the growth of the population in the area, all will be talked about regarding the city of Middridge. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, what do houses for sale sell for in Middridge?
For the city of Middridge, the average price a house sells for is £72,286. This value usually depends on the exact location of the house within Middridge as well as other factors like the population growth in Middridge which is 4% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £171,190 |
| Aerage sold price (semi-detached) | £85,115 |
| Aerage sold price (terraced) | £50,965 |
| Aerage sold price (flat) | no relevant data for this city |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Middridge.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £650 |
| Aerage sold price/sqft (new build) | £1,300 |
| Aerage sold price/sqft (old stock) | £620 |
Generalising the bottom table, the average value per square foot of a house for sale is £650. This value averages all of the types of houses for sale in Middridge. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Middridge.
In Middridge, what are the demographics like?
What salary does the community in Middridge take home?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £28,000.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Middridge this figure is 8%.
What’s the crime rate in Middridge?
For every one thousand people living in Middridge, 200 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 200 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
How deprived is the population of Middridge?
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 39% for Middridge should give you a nice idea of the deprivation in the area.
In Middridge, how educated are people in general?
In the city of Middridge, 11% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Middridge is £28,000. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
Middridge within Durham is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Middridge 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 Middridge.
Do the people of Middridge get to enjoy green space?
In the city of Middridge, there are 13.7 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 Middridge is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is the population of Middridge?
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 Middridge is 10,010.
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 Middridge.
In Middridge, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. 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 Middridge 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 (3%) 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.
Middridge population difference over 10 years?
The population has adjusted in the area of Middridge by 4% 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 Middridge.
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.
What is the city of Middridge’s social grade score?
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 Middridge in grades A or B which are the highest skilled roles in the country is 8%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £28,000 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 8%.
In Middridge, 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 Middridge
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £63,403 |
| Average asking price (3 bed) | £89,043 |
| Average asking price (4 bed) | no relevant data for this city |
| 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 Middridge is £0. This should show you the general prices overall and for individual types of houses too.
When speaking about the city of Middridge, £75,582 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Middridge.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Why you should consider the average rental yield when searching for houses for sale in Middridge
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 Middridge this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside Durham 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 Middridge.
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) | |
|---|---|---|---|---|
| Middridge | 7.2% | £451 | no relevant data for this city | 13.0% |
| Durham | 4.93% | £607 | 132.62% | 16.57% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
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 Middridge.
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 (8) will be useful.
Are there more or fewer houses being built in Middridge?
The growth of an area like Middridge 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 | |
|---|---|---|---|
| Middridge growth rate | 2% | -15% | -2% |
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 Middridge if you want to find out the exact reasons for the housing change.
Professional advice for houses for sale in Middridge
A house for sale that is right for you
Many criteria impact the price of houses for sale in Middridge.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
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
Are you considering other cities 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 Middridge:
- Dewsbury-Moor in North East
- Chapel-Allerton in North East
- Carrville in North East
- Birtley in North East
- Austhorpe in North East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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