Whenever looking for a house for sale in the UK or in Brierfield, 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 Brierfield.
In this article, we will be looking at the city of Brierfield in detail so you know how to navigate the area and have a better understanding on where to invest.
In Brierfield, what are the rental yields?
Are there more or fewer houses being built in Brierfield?
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 Brierfield at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Brierfield growth rate | 2% | 17% | 21% |
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 Brierfield 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 Brierfield.
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Brierfield.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Lancashire) as well as the broader region; North West.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Brierfield | 4.1% | £528 | 85% | 16.0% |
| Lancashire | 4.25% | £691 | 100.27% | 17.49% |
| North West | 4.36% | £808 | 120.36% | 20.19% |
Also, you can compare other data to the table above such as the number of houses sold per month in Brierfield which is 25 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Brierfield is to invest in. Both in terms of rental yield and capital appreciation.
In general, for the city of Brierfield, what are the final purchase prices for the houses for sale?
In Brierfield, the average sale price of a house for sale is in fact £106,558. This is dependent on the 10 year population growth of Brierfield being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Brierfield.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £217,057 |
| Aerage sold price (semi-detached) | £144,281 |
| Aerage sold price (terraced) | £68,728 |
| Aerage sold price (flat) | £78,059 |
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 Brierfield.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,100 |
| Aerage sold price/sqft (new build) | £1,460 |
| Aerage sold price/sqft (old stock) | £1,050 |
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 £1,100. This means if you are just looking out the houses sold in Brierfield in general and didn’t take into consideration the type of build. For example, a new build.
What is the asking price on average of houses for sale in Brierfield?
When investors make offers for houses for sale in Brierfield, the average price asked by the homeowners works out to be £156,161.
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 Brierfield 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 Brierfield
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £97,467 |
| Average asking price (3 bed) | £179,636 |
| Average asking price (4 bed) | £324,830 |
| 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 Brierfield has a lack of supply of housing in certain categories.
What kind of demographics does the city of Brierfield have?
In Brierfield, what is the crime rate?
For every one thousand people living in Brierfield, 136 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 136 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.
Are the deprivation levels of the UK any different to Brierfield?
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 Brierfield is 32% 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.
How much do people in Brierfield earn?
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 (14%). 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 Brierfield, this works out to be £34,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Brierfield, 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 Brierfield 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 Brierfield in North West.
How educated are the people in Brierfield?
The number of people as a percentage who have been through university and gained a degree is 19%. The ability to buy a home is greatly influenced by the number of people who have degrees. £34,400 is the amount people in Brierfield are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Brierfield, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In Brierfield, what is the social grade score?
In the city of Brierfield, the social grade score of the area is 14%. 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 Brierfield.
| 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 |
In the city of Brierfield, is there a lot of green space?
In the city of Brierfield, there are 20.4 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 Brierfield is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is the population of Brierfield?
The city of Brierfield has a total population of 37,158. 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 Brierfield 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 Brierfield
Over time, in the last five years, the population of the city of Brierfield 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 Brierfield?
In the last 10 years, there has been a shift in the population of 3%.
Comparing this to the 5 year figure of Brierfield 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.
Who can help you buy a house for sale in Brierfield?
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
House for sale in the same UK region
We have prepared a list of cities in North West, the same UK region of Brierfield that can help you evaluate the different houses for sale listed in the region:
- Little-Hulton in North West
- Aughton in North West
- Kirkby in North West
- Baguley in North West
- Barthomley in North West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Brierfield.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
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