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How much will you pay for a house for sale in Accrington?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North West $ How much will you pay for a house for sale in Accrington?

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As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Accrington. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Accrington to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Accrington will be revealed. Keep reading.

Always consider average rental yield when searching for houses for sale in Accrington

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 Accrington this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (North West) alongside Lancashire 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 Accrington.

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)
Accrington £0 £552 £1 £0
Lancashire 4.25% £691.17 100.27% 17.49%
North West 0.04 807.60 £1 20.19%

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 Accrington.

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 (51) will be useful.

Is the housing market in Accrington growing?

Whenever you are thinking about looking for houses for sale in Accrington, 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
Accrington growth rate 3% 19% 21%

As the population of Accrington 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.

In Accrington, what are the demographics like?

In general, do people commit a lot of crime in Accrington?

The crime rate of Accrington 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 16600%, 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 (16600%) is both useful and is recommended to be compared to the average.

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

In the city of Accrington, 18% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Accrington is £34,400.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

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

In the below headings, the city of Accrington and its demographics will be compared to its wider location (North West). 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 Accrington. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What is the social grade score of Accrington?

In the city of Accrington and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Accrington has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 13%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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

Do the people of Accrington get to enjoy 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 Accrington currently has 11 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 Accrington in this case.

How much do people in Accrington earn?

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.

£34,400.00 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 13% for Accrington.

In Accrington, what are the deprivation levels like?

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 Accrington is £0.

In Accrington, how has the population changed?

In total, the number of people in Accrington is 61415. 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 Accrington, depending on where exactly you are.

How has Accrington 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 Accrington has changed by 1%. 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 1% 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 Accrington?

0% 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 Accrington 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.

In general, what do houses for sale sell for in Accrington?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Accrington. In Accrington, this sale price works out to be £111,469. As an example, a factor like population growth over the last 10 years which works out to be 0% in Accrington and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £202,398
Average sold price (semi-detached) £141,060
Average sold price (terraced) £78,723
Average sold price (flat) £74,758

Above, the exact type of house is also shown to vary in price in a table in Accrington. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £1,160
Average sold price/sqft (new build) £1,750
Average sold price/sqft (old stock) £1,110

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Accrington which is £1,160. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

Get professional help on the houses for sale in Accrington

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

Thinking of a different city and perhaps a different location?

We have prepared a list of cities that are entirely dissimilar to the region of North West, perfect if you are looking for somewhere similar to Accrington but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.

Asking price in Accrington for a house for sale

In the city of Accrington, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £97,976
Average asking price (3 bed) £155,554
Average asking price (4 bed) £257,653
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 Accrington is the right area to buy a house in for you.

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 Accrington 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 £131,041.

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 Accrington.

Invest in a house for sale that meets your demands

When browsing houses for sale in Accrington 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 – it 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. Especially if you are renting the property as this will impact your business costs. Whether that be in an excluded tenancy agreement or a more common, assured shorthold tenancy.

  • 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.

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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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