As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Barnoldswick. 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 Barnoldswick 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 Barnoldswick will be revealed. Keep reading.
How are rental yields of the houses for sale different to the rest of the UK in Barnoldswick?
Are there more or fewer houses being built in Barnoldswick?
Whenever you are thinking about looking for houses for sale in Barnoldswick, 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|
|Barnoldswick growth rate||-10%||7%||20%|
As the population of Barnoldswick 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 Barnoldswick, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; North West. As well as Lancashire, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Barnoldswick you might be interested in the number of sales per month (24) that happen in the local housing market. Comparing this figure for Barnoldswick with the above table gives you a good understanding of the profitability of the area.
houses for sale in other cities and regions in the UK
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 Barnoldswick 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:
- Bowness-On-Windermere in North West
- Greasby in North West
- Horsehay in North West
- Castle Donington in North West
- Aldham in North West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.
In general, what do houses for sale sell for in Barnoldswick?
In Barnoldswick, houses for sale are sold at an average of £134,484. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Barnoldswick. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£275,245|
|Aerage sold price (semi-detached)||£176,242|
|Aerage sold price (terraced)||£102,021|
|Aerage sold price (flat)||£100,629|
As you can see above, for Barnoldswick, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 3% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,420|
|Aerage sold price/sqft (new build)||£1,940|
|Aerage sold price/sqft (old stock)||£1,270|
Looking at the second table about Barnoldswick, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Barnoldswick is £1,420.
Are there any important statistics about the population of Barnoldswick?
What is the population of Barnoldswick?
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 Barnoldswick is 23,032.
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 Barnoldswick.
In Barnoldswick, 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 Barnoldswick 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.
Barnoldswick population difference over 10 years?
The population has adjusted in the area of Barnoldswick by 3% 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 Barnoldswick.
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 social grade score of Barnoldswick?
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 Barnoldswick in grades A or B which are the highest skilled roles in the country is 15%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £36,000 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 15%.
In the city of Barnoldswick, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Lancashire for example.
These demographics for Barnoldswick may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Barnoldswick in North West.
Is the crime rate bad in the city of Barnoldswick?
The crime rate of Barnoldswick 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 134, 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 (134) is both useful and is recommended to be compared to the average.
Do the people of Barnoldswick get to enjoy green space?
In the city of Barnoldswick, there are 26.8 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 Barnoldswick is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Are the people in Barnoldswick earning a lot?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (15%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Barnoldswick, this works out to be £36,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
For the city of Barnoldswick, what is the education level?
In the city of Barnoldswick, 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 Barnoldswick is £36,000.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Are the people of Barnoldswick deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Barnoldswick, currently, 34% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
Get professional help on the houses for sale in Barnoldswick
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
On average, what is the figure for the asking price of a house for sale in Barnoldswick?
In the city of Barnoldswick, 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)||£129,838|
|Average asking price (3 bed)||£176,629|
|Average asking price (4 bed)||£360,793|
|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 Barnoldswick 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 Barnoldswick 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 £171,060.
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 Barnoldswick.
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Barnoldswick
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.