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What is it like buying a house in Bowmanstead?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North West $ What is it like buying a house in Bowmanstead?

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Bowmanstead, Cumbria.

From the average asking price of houses for sale in Bowmanstead to the growth of the population in the area, all will be talked about regarding the city of Bowmanstead. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

What’s the rental yield in general for the city of Bowmanstead?

Are there new houses being built in Bowmanstead to make it grow?

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 Bowmanstead at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Bowmanstead growth rate no relevant data for this city no relevant data for this city no relevant data for this city

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 Bowmanstead 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 Bowmanstead.

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Bowmanstead to Cumbria and the broader suburb of the UK; North West.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bowmanstead no relevant data for this city no relevant data for this city no relevant data for this city no relevant data for this city
Cumbria 4.20% £674 116.50% 17.79%
North West 4.36% £808 120.36% 20.19%

Let’s assume you want to sell the house you’re looking to buy in Bowmanstead for profit in the future, in this case, looking at the data for the number of houses sold per month in Bowmanstead would give you an idea of whether the area is actively getting new investors. This figure is 0.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Bowmanstead. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

What kind of demographics does the city of Bowmanstead have?

What’s a social grade score and how does it relate to Bowmanstead?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Bowmanstead compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Bowmanstead, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 16%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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

How educated are the people in Bowmanstead?

In Bowmanstead, the proportion of people who have a degree is 28%. 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 Bowmanstead is £43,800.

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.

What’s the crime rate in Bowmanstead?

The crime rate of Bowmanstead 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 96, 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 (96) is both useful and is recommended to be compared to the average.

In the city of Bowmanstead, 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 Cumbria for example.

These demographics for Bowmanstead 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 Bowmanstead in North West.

What does the population of Bowmanstead 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 Bowmanstead if 1,062 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 Bowmanstead such as rental yield or house appreciation.

How has the population size of Bowmanstead adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Bowmanstead by 1%. 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 1% 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 Bowmanstead?

In the last decade, the population of Bowmanstead has been adjusted by 1%. 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.

How much green space is available to residents of Bowmanstead?

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Bowmanstead currently has 13.5 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Bowmanstead in this case.

Are the deprivation levels of the UK any different to Bowmanstead?

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 Bowmanstead is 21% 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.

Are the people in Bowmanstead earning a lot?

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 Bowmanstead, the average income is £43,800. 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.

In Bowmanstead, what is the asking price in general for a house for sale?

Average asking prices for houses for sale in Bowmanstead

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) no relevant data for this city
Average asking price (3 bed) no relevant data for this city
Average asking price (4 bed) no relevant data for this city
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Bowmanstead, 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.

When investors make offers for houses for sale in Bowmanstead, the average price asked by the homeowners works out to be no relevant data for this city.

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 Bowmanstead 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.

In general, for the city of Bowmanstead, what are the final purchase prices for the houses for sale?

For the city of Bowmanstead, the average price a house sells for is £324,699. This value usually depends on the exact location of the house within Bowmanstead as well as other factors like the population growth in Bowmanstead which is 1% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £388,214
Aerage sold price (semi-detached) £295,009
Aerage sold price (terraced) £295,041
Aerage sold price (flat) no relevant data for this city

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 Bowmanstead.

Housing category Sale price per square foot
Aerage sold price/sqft £3,320
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £3,210

Generalising the bottom table, the average value per square foot of a house for sale is £3,320. This value averages all of the types of houses for sale in Bowmanstead. 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 Bowmanstead.

Invest in houses for sale in Bowmanstead with the right professional advice

House for sale in the same UK region

See here below a list of cities in the same UK region of Bowmanstead which is North West. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Invest in a house for sale that meets your demands

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 Bowmanstead.

  • 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.

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

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