Bingley 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 West Yorkshire.
Before looking for a house for sale in the city of Bingley 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 Bingley.
Are you considering other cities with houses for sale?
If you are looking for similar places to buy a house that are just like Bingley, examine this short list of cities below from outside of the region of North West for some inspiration.
- easingwold in North West
- broomhill in North West
- deptford in North West
- cradley-heath in North West
- almeley in North West
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
What are the demographics like in the city of Bingley?
Located in West Yorkshire is the city of Bingley, in a large part of the UK; North West. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Bingley has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Bingley which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
In general, do people commit a lot of crime in Bingley?
The crime rate of Bingley 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 8500%, 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 (8500%) is both useful and is recommended to be compared to the average.
In the city of Bingley, how much green space remains for residents?
In the city of Bingley, there are 23 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 Bingley is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How much do people in Bingley earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Bingley, the average income is £44,200.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 29% to decide on what the demographics are like in the area.
Is the education level of Bingley important when buying a house?
In the city of Bingley, 31% 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 Bingley is £44,200.00. 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.
How deprived is the population of Bingley?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Bingley, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What is the social grade score of Bingley?
In the city of Bingley, the social grade score of the area is 29%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Bingley.
|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|
Have the people of Bingley grown in numbers?
The city of Bingley has a total population of 25301. 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 Bingley 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 Bingley
Over time, in the last five years, the population of the city of Bingley 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 Bingley?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Bingley 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.
Always consider average rental yield when searching for houses for sale in Bingley
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 Bingley, 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 West Yorkshire, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Bingley||£0||£698||no relevant data for this city||£0|
Assuming that in the future you want to re-sell the house you will eventually purchased in Bingley you might be interested in the number of sales per month (19) that happen in the local housing market. Comparing this figure for Bingley with the above table gives you a good understanding of the profitability of the area.
Are there new houses being built in Bingley to make it grow?
The growth of an area like Bingley 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|
|Bingley growth rate||-3%||10%||12%|
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 Bingley if you want to find out the exact reasons for the housing change.
Invest in a house for sale that meets your demands
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bingley
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.
Advice from experts on properties for sale in Bingley
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
What are the asking prices for the houses for sale in the city of Bingley?
When speaking about the city of Bingley, £258,002 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 in Bingley would be after a larger house than someone living alone.
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.
Average prices for the houses for sale in Bingley
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£158,594|
|Average asking price (3 bed)||£251,524|
|Average asking price (4 bed)||£415,898|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Bingley, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more holistic understanding.
In general, for the city of Bingley, what are the final purchase prices for the houses for sale?
In Bingley, houses for sale are sold at an average of £195,071. 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 Bingley. 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)||£348,049|
|Aerage sold price (semi-detached)||£193,858|
|Aerage sold price (terraced)||£159,819|
|Aerage sold price (flat)||£113,992|
As you can see above, for Bingley, 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 5% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,070|
|Aerage sold price/sqft (new build)||£2,390|
|Aerage sold price/sqft (old stock)||£1,990|
Looking at the second table about Bingley, 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 Bingley is £2,070.