As a landlord, whenever you are looking at houses for sale in Cumbria, you could find varying prices throughout an area like Brough. 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 Brough 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 Brough will be revealed. Keep reading.
Why you should consider the average rental yield when searching for houses for sale in Brough
Are there more or fewer houses being built in Brough?
Before committing to Brough to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Brough growth rate||-20%||20%||41%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Brough is building housing to find your answer.
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 Brough to Cumbria and the broader suburb of the UK; North West.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Brough||no relevant data for this city||no relevant data for this city||no relevant data for this city||14.0%|
Let’s assume you want to sell the house you’re looking to buy in Brough for profit in the future, in this case, looking at the data for the number of houses sold per month in Brough would give you an idea of whether the area is actively getting new investors. This figure is 5.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Brough. 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 are the asking prices for the houses for sale in the city of Brough?
In the city of Brough, 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)||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 Brough, 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 Brough, the average price asked by the homeowners works out to be £361,159.
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 Brough 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, what do houses for sale sell for in Brough?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Brough. In Brough, this sale price works out to be £234,010. As an example, a factor like population growth over the last 10 years which works out to be 2% in Brough and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£314,290|
|Average sold price (semi-detached)||£196,888|
|Average sold price (terraced)||£153,124|
|Average sold price (flat)||no relevant data for this city|
Above, the exact type of house is also shown to vary in price in a table in Brough. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£1,790|
|Average sold price/sqft (new build)||£1,360|
|Average sold price/sqft (old stock)||£1,710|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Brough which is £1,790. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
What are the people like in Brough?
In the city of Brough, 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 Brough 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 Brough in North West.
How educated are the people in Brough?
In Brough, 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 Brough is £39,500.
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.
In Brough, what is the social grade score?
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 Brough in grades A or B which are the highest skilled roles in the country is 18%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £39,500 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 18%.
What’s crime like in Brough?
Within Brough, the number of people committing crimes is 56 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 56 figure carefully.
In Brough, how has the population changed?
The city of Brough has a total population of 4,827. 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 Brough 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 Brough
Over time, in the last five years, the population of the city of Brough 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 Brough?
In the last 10 years, there has been a shift in the population of 2%.
Comparing this to the 5 year figure of Brough 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.
How much are those living in Brough earning?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £39,500.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Brough this figure is 18%.
How deprived is the population of Brough?
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 Brough 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.
How much green space is available to residents of Brough?
Whether you view green space in Brough 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 Brough, the number of acres of green space for every 1000 people currently is 11.9 which can be measured against the UK average of 1.7.
Invest in houses for sale in Brough with the right professional advice
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to Brough.
Reading these analysis will help you evaluate the different houses for sale currently listed in North West:
- Greasby in North West
- Burnage in North West
- Aston in North West
- Eccleston in North West
- Newtown in North West
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
A house for sale that is right for you
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 Brough.
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