As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Barrowford. 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 Barrowford 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 Barrowford will be revealed. Keep reading.
In Barrowford, what do houses for sale tend to sell for?
In Barrowford, the average sale price of a house for sale is in fact £92,699. This is dependent on the 10 year population growth of Barrowford being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Barrowford.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£230,057|
|Aerage sold price (semi-detached)||£129,421|
|Aerage sold price (terraced)||£63,724|
|Aerage sold price (flat)||£91,656|
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 Barrowford.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£880|
|Aerage sold price/sqft (new build)||£1,500|
|Aerage sold price/sqft (old stock)||£840|
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 £880. This means if you are just looking out the houses sold in Barrowford in general and didn’t take into consideration the type of build. For example, a new build.
In Barrowford, what is the asking price in general for a house for sale?
Average price of houses for sale in Barrowford
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£94,099|
|Average asking price (3 bed)||£183,518|
|Average asking price (4 bed)||£318,668|
|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 Barrowford 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 £0 should also give you an overview of what the asking price for houses for sale are in general.
When speaking about the city of Barrowford, £149,472 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 Barrowford.
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.
What are the demographics like in the city of Barrowford?
The city of Barrowford, 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 Barrowford 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 Barrowford. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Is the city of Barrowford deprived?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Barrowford is 35% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
How much do people in Barrowford 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 Barrowford. Compare the area’s average household income of £33,700 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 13% for more conclusive data on the affluence of the area.
In the city of Barrowford, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Barrowford, 10.4 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Barrowford.
What does the population of Barrowford look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Barrowford if 44,577 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Barrowford such as rental yield or house appreciation.
How has the population size of Barrowford adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Barrowford by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Barrowford?
In the last decade, the population of Barrowford has been adjusted by 3%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
In Barrowford, how educated are people in general?
In Barrowford, the proportion of people who have a degree is 19%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Barrowford is £33,700.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
Is the crime rate bad in the city of Barrowford?
For the city of Barrowford, crime rate is at 145. So for every 1000 people in the area, 145 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
In Barrowford, what is the 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 Barrowford in grades A or B which are the highest skilled roles in the country is 13%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £33,700 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 13%.
Why you should consider the average rental yield when searching for houses for sale in Barrowford
Is the housing market in Barrowford growing?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Barrowford that shows the growth in recent years.
|1 year||3 years||5 years|
|Barrowford growth rate||-8%||28%||29%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Barrowford is important.
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 Barrowford, 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 Barrowford you might be interested in the number of sales per month (33) that happen in the local housing market. Comparing this figure for Barrowford with the above table gives you a good understanding of the profitability of the area.
Professional advice for houses for sale in Barrowford
Are you considering other cities with houses for sale?
See here below a list of cities in the same UK region of Barrowford which is North West. You might want to consider these as alternatives for your next real estate investment:
- Airton in North West
- Bruche in North West
- Knowsley in North West
- Liverpool in North West
- Aiketgate in North West
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
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
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Barrowford?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.