As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Blackburn. 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 Blackburn 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 Blackburn will be revealed. Keep reading.
A house for sale appropriate to your needs
What parameters impact the final price of a house for sale in Blackburn?
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.
What are the demographics like in the city of Blackburn?
Is there sufficient green space in Blackburn?
Whether you view green space in Blackburn 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 Blackburn, the number of acres of green space for every 1000 people currently is 9 which can be measured against the UK average of 1.7.
Are the deprivation levels of the UK any different to Blackburn?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Blackburn is £0.
In the city of Blackburn, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Blackburn if 17061 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 Blackburn such as rental yield or house appreciation.
How has the population size of Blackburn adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Blackburn 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 Blackburn?
In the last decade, the population of Blackburn 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.
What is a social grade score and how does this relate to Blackburn?
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 Blackburn in grades A or B which are the highest skilled roles in the country is 16%.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £38,100.00 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 16%.
How much do people in Blackburn 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 Blackburn, the average income is £38,100.00. 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 16% to decide on what the demographics are like in the area.
What’s the crime rate in Blackburn?
For the city of Blackburn, crime rate is at 7600%. So for every 1000 people in the area, 7600% 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.
What is the education level like in Blackburn?
In the city of Blackburn, 19% 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 Blackburn is £38,100.00.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Blackburn within Lancashire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Blackburn will be looked at by comparing it to the local region, as well as comparing it to the wider region too (North West). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Blackburn.
Asking price in Blackburn for a house for sale
In the city of Blackburn, 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)||£137,741|
|Average asking price (3 bed)||£201,267|
|Average asking price (4 bed)||£268,332|
|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 Blackburn is the right area to buy a house in for you.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Blackburn is £179,505.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Blackburn is useful when negotiating and knowing what to expect for every type of house for sale.
In general, what do houses for sale sell for in Blackburn?
In Blackburn, the average sale price of a house for sale is in fact £136,474. This is dependent on the 10 year population growth of Blackburn being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Blackburn.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£260,487|
|Aerage sold price (semi-detached)||£181,472|
|Aerage sold price (terraced)||£108,804|
|Aerage sold price (flat)||£96,063|
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 Blackburn.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,440|
|Aerage sold price/sqft (new build)||£2,080|
|Aerage sold price/sqft (old stock)||£1,370|
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 £1,440. This means if you are just looking out the houses sold in Blackburn in general and didn’t take into consideration the type of build. For example, a new build.
Why you should consider the average rental yield when searching for houses for sale in Blackburn
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Blackburn, currently, £0 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 and how much you can charge for rent in your ast (assured tenancy shorthold).
Is the housing market in Blackburn 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 Blackburn that shows the growth in recent years.
|1 year||3 years||5 years|
|Blackburn growth rate||-2%||9%||8%|
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 Blackburn is important.
Who can help you buy a house for sale in Blackburn?
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
Are you considering other cities with houses for sale?
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 Blackburn 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:
- broadsea in North West
- bishopstrow in North West
- isle-of-wight in North West
- adber in North West
- belford 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.
FAQ (Frequently Asked Questions)
Do properties in Blackburn offer renovation potential?
If planning permissions are abundant in the vicinity of Blackburn, it may look promising for landlords looking to renovate. With 5 getting approved on a monthly basis, and a success rate of nan, these prospects flourish against a population of 17061. A comparative analysis against other locations across the UK will lend you a good perspective of this data.
On a monthly basis, how many property transactions take place in Blackburn?
In the city of Blackburn, there are 17 and in the total for the UK, there are around 1.1 million property sales.
What is the population change each year in a city like Blackburn?
To work out how the population of Blackburn has changed over time, you can look at the population change over a decade which is 3% and the change in a five year period two which falls at 3%. Compare the two and look at the population growth or decline in recent times to really make sure you have a good understanding of the population
In the larger vicinity of Blackburn, what is the cost of houses available for sale?
The current average price per square foot for a house in Blackburn stands at £0, considering the mean cost for each square foot of houses for sale there.
Is a house for sale in Blackburn an expensive choice?
Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Blackburn, this stands at £136,474, whereas the UK’s mean is £286,500.