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.
In general, what do houses for sale sell for in Blackburn?
In Blackburn, houses for sale are sold at an average of £136,474. 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 Blackburn. 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)||£260,487|
|Aerage sold price (semi-detached)||£181,472|
|Aerage sold price (terraced)||£108,804|
|Aerage sold price (flat)||£96,063|
As you can see above, for Blackburn, 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||£1,440|
|Aerage sold price/sqft (new build)||£2,080|
|Aerage sold price/sqft (old stock)||£1,370|
Looking at the second table about Blackburn, 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 Blackburn is £1,440.
Asking price in Blackburn for a house for sale
On average, in Blackburn, the asking price for a house for sale in the area is £179,505.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Blackburn. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
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|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Blackburn has a lack of supply of housing in certain categories.
Are there any important statistics about the population of Blackburn?
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.
In the city of Blackburn, has the population grown or shrunk?
The city of Blackburn has a total population of 17,061. 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 Blackburn 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 Blackburn
Over time, in the last five years, the population of the city of Blackburn has changed by 3%. 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 3% 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 Blackburn?
In the last 10 years, there has been a shift in the population of 3%.
Comparing this to the 5 year figure of Blackburn 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.
In the city of Blackburn, is there a lot of green space?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Blackburn, the city has 8.9 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Blackburn.
What is the social grade score of Blackburn?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Blackburn, the percentage of people in the two highest categories, A and B is 16%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £38,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (16%).
What is the education level like in Blackburn?
Interestingly, the percentage of people who have a degree in the city of Blackburn is 19%. 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 Blackburn is £38,100.
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.
How much are those living in Blackburn earning?
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 (16%). 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 Blackburn, this works out to be £38,100. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the city of Blackburn 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 Blackburn is 26% 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.
Is the crime rate bad in the city of Blackburn?
For every one thousand people living in Blackburn, 76 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 76 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
How are rental yields of the houses for sale different to the rest of the UK in Blackburn?
Are there new houses being built in Blackburn to make it grow?
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.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Blackburn. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Blackburn.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Lancashire), a regional level (North West) and finally on the level of the city talked about in this article, Blackburn.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Blackburn||no relevant data for this city||no relevant data for this city||no relevant data for this city||17.0%|
You may also find it useful to compare the data above to the number of properties sold per month Blackburn experiences. This figure for house sales per month is 15. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Professional advice for houses for sale in Blackburn
A house for sale that is right for you
When browsing houses for sale in Blackburn you should think about lots of different criteria:
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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.
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
Are you considering other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in North West, the same UK region as Blackburn:
- Irlam in North West
- Bardsley in North West
- Ansdell in North West
- Cleator in North West
- Bidston in North West
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK