What is it like buying a house in Ovingham?

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 Ovingham?

Ovingham can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Ovingham.

On top of this, keep reading for detailed information on the demographics of Ovingham in Northumberland. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

In Ovingham, what are the demographics like?

Have the people of Ovingham grown in numbers?

In total, the number of people in Ovingham is 12,625. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Ovingham, depending on where exactly you are.

How has Ovingham changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Ovingham has changed by 2%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 2% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Ovingham?

3% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Ovingham have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

Is the education level of Ovingham important when buying a house?

The number of people as a percentage who have been through university and gained a degree is 26%. The ability to buy a home is greatly influenced by the number of people who have degrees. £38,900 is the amount people in Ovingham are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Ovingham, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

What is the social grade score of Ovingham?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Ovingham compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Ovingham, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 22%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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

Are the people of Ovingham deprived?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Ovingham is 21%.

In Ovingham, what is the crime rate?

The crime rate of Ovingham 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 78, 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 (78) is both useful and is recommended to be compared to the average.

How much do people in Ovingham earn?

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 Ovingham. Compare the area’s average household income of £38,900 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 22% for more conclusive data on the affluence of the area.

The city of Ovingham, situated in Northumberland, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Ovingham and its demographics will be compared to its wider location (North East). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Ovingham. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Is there sufficient green space in Ovingham?

In the city of Ovingham, there are 13.3 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 Ovingham 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 final sale price of a house in Ovingham?

For the city of Ovingham, the average price a house sells for is £161,520. This value usually depends on the exact location of the house within Ovingham as well as other factors like the population growth in Ovingham which is 3% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £246,413
Aerage sold price (semi-detached) £141,298
Aerage sold price (terraced) £125,405
Aerage sold price (flat) £83,048

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 Ovingham.

Housing category Sale price per square foot
Aerage sold price/sqft £1,710
Aerage sold price/sqft (new build) £2,180
Aerage sold price/sqft (old stock) £1,610

Generalising the bottom table, the average value per square foot of a house for sale is £1,710. This value averages all of the types of houses for sale in Ovingham. 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 Ovingham.

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

The average asking price for the houses for sale in the city of Ovingham

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £122,083
Average asking price (3 bed) £188,954
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 Ovingham is £0. This should show you the general prices overall and for individual types of houses too.

On average, in Ovingham, the asking price for a house for sale in the area is £192,410.

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 Ovingham. 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.

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

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 Ovingham, 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)
Ovingham no relevant data for this city no relevant data for this city no relevant data for this city 25.0%
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 Ovingham you might be interested in the number of sales per month (10) that happen in the local housing market. Comparing this figure for Ovingham with the above table gives you a good understanding of the profitability of the area.

Is the housing market in Ovingham growing?

Before committing to Ovingham 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
Ovingham growth rate -3% 17% 7%

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 Ovingham is building housing to find your answer.