Whenever looking for a house for sale in the UK or in Bispham, it is vital you look at the market trends and house price fluctuations in the wider area of Lancashire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Bispham.
In this article, we will be looking at the city of Bispham in detail so you know how to navigate the area and have a better understanding on where to invest.
How are rental yields of the houses for sale different to the rest of the UK in Bispham?
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 Bispham, 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)|
|Bispham||5.0%||£638||no relevant data for this city||20.0%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Bispham you might be interested in the number of sales per month (28) that happen in the local housing market. Comparing this figure for Bispham with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Bispham?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Bispham at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Bispham growth rate||4%||19%||19%|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Bispham gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Bispham.
In general, what do houses for sale sell for in Bispham?
For the city of Bispham, the average price a house sells for is £131,846. This value usually depends on the exact location of the house within Bispham as well as other factors like the population growth in Bispham which is -3% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£204,645|
|Aerage sold price (semi-detached)||£133,776|
|Aerage sold price (terraced)||£111,459|
|Aerage sold price (flat)||£83,227|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Bispham.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,400|
|Aerage sold price/sqft (new build)||£1,610|
|Aerage sold price/sqft (old stock)||£1,360|
Generalising the bottom table, the average value per square foot of a house for sale is £1,400. This value averages all of the types of houses for sale in Bispham. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Bispham.
Are there any important statistics about the population of Bispham?
Are the deprivation levels of the UK any different to Bispham?
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 Bispham is 31% 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.
In the city of Bispham, 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 Bispham 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 Bispham in North West.
How educated are the people in Bispham?
Interestingly, the percentage of people who have a degree in the city of Bispham is 17%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Bispham is £32,700.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
In the city of Bispham, 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 Bispham, 9.4 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 Bispham.
In Bispham, how has the population changed?
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 Bispham is 24,589.
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 Bispham.
In Bispham, how has the population changed over the last five years?
In the last five years, over time, the change in population size was -1%. 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 Bispham 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 (-1%) 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.
Bispham population difference over 10 years?
The population has adjusted in the area of Bispham 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 Bispham.
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.
Are the people in Bispham earning a lot?
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.
£32,700 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 12% for Bispham.
What is a social grade score and how does this relate to Bispham?
In the city of Bispham 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 Bispham has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 12%.
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|
What’s the crime rate in Bispham?
In Bispham, for every 1000 people, there is currently a crime rate of 135. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (135 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
What is the asking price on average of houses for sale in Bispham?
When investors make offers for houses for sale in Bispham, the average price asked by the homeowners works out to be £154,154.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Bispham is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Average asking prices for houses for sale in Bispham
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£123,388|
|Average asking price (3 bed)||£154,939|
|Average asking price (4 bed)||£252,443|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Bispham, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market 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 wholistic understanding.
Invest in houses for sale in Bispham with the right professional advice
Choose the right house for sale that suits your needs
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Bispham.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in North West, the same UK region of Bispham that can help you evaluate the different houses for sale listed in the region:
- Bowness-On-Windermere in North West
- Stockport in North West
- Bootle in North West
- Ditton in North West
- Biggin in North West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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