What is it like buying a house in Bank Fold?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North West $ What is it like buying a house in Bank Fold?

Bank Fold might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Lancashire.
Before looking for a house for sale in the city of Bank Fold we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Bank Fold.

How are rental yields of the houses for sale different to the rest of the UK in Bank Fold?

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Bank Fold.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Lancashire) as well as the broader region; North West.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bank Fold 4.7% £593 109% 20.0%
Lancashire 4.25% £691 100.27% 17.49%
North West 4.36% £808 120.36% 20.19%

Also, you can compare other data to the table above such as the number of houses sold per month in Bank Fold which is 32 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Bank Fold is to invest in. Both in terms of rental yield and capital appreciation.

Are there more or fewer houses being built in Bank Fold?

The growth of an area like Bank Fold 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
Bank Fold growth rate -2% 16% 24%

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 Bank Fold if you want to find out the exact reasons for the housing change.

In Bank Fold, what are the demographics like?

In Bank Fold, what is the social grade score?

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 Bank Fold 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 Bank Fold, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 16%.

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

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

For every one thousand people living in Bank Fold, 141 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 141 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.

Is the city of Bank Fold 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 27% for Bank Fold should give you a nice idea of the deprivation in the area.

How much do people in Bank Fold earn?

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 £37,100.

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 Bank Fold this figure is 16%.

Do the people of Bank Fold get to enjoy green space?

Whether you view green space in Bank Fold as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Bank Fold, the number of acres of green space for every 1000 people currently is 9.2 which can be measured against the UK average of 1.7.

The city of Bank Fold, 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 Bank Fold 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 Bank Fold. So, taking a good look at the data is essential to understand the area you are considering to buy in.

For the city of Bank Fold, what is the education level?

In the city of Bank Fold, 21% 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 Bank Fold is £37,100. 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.

In the city of Bank Fold, has the population grown or shrunk?

The city of Bank Fold has a total population of 34,127. 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 Bank Fold 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 Bank Fold

Over time, in the last five years, the population of the city of Bank Fold has changed by 2%. 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 2% 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 Bank Fold?

In the last 10 years, there has been a shift in the population of 2%.

Comparing this to the 5 year figure of Bank Fold 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.

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

Average asking prices for houses for sale in Bank Fold

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £103,798
Average asking price (3 bed) £158,976
Average asking price (4 bed) £288,587
Average asking price (5 bed) no relevant data for this city

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Bank Fold and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £1,390 should also give you an overview of what the asking price for houses for sale are in general.

On average, in Bank Fold, the asking price for a house for sale in the area is £151,993.

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 Bank Fold. 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.

In general, what do houses for sale sell for in Bank Fold?

In Bank Fold, the average sale price of a house for sale is in fact £122,400. This is dependent on the 10 year population growth of Bank Fold being 2%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bank Fold.

Housing category Total final sale price
Aerage sold price (detached) £221,733
Aerage sold price (semi-detached) £144,670
Aerage sold price (terraced) £88,910
Aerage sold price (flat) £76,433

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Bank Fold.

Housing category Sale price per square foot
Aerage sold price/sqft £1,310
Aerage sold price/sqft (new build) £1,960
Aerage sold price/sqft (old stock) £1,220

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £1,350. This means if you are just looking out the houses sold in Bank Fold in general and didn’t take into consideration the type of build. For example, a new build.