Whenever looking for a house for sale in the UK or in Carrbrook, it is vital you look at the market trends and house price fluctuations in the wider area of Greater Manchester 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 Carrbrook.
In this article, we will be looking at the city of Carrbrook in detail so you know how to navigate the area and have a better understanding on where to invest.
Always consider average rental yield when searching for houses for sale in Carrbrook
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 Carrbrook. 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 Carrbrook.
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 (Greater Manchester), a regional level (North West) and finally on the level of the city talked about in this article, Carrbrook.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Carrbrook experiences. This figure for house sales per month is 25. 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.
What is the growth in the housing market of Carrbrook?
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 Carrbrook at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Carrbrook growth rate||5%||27%||37%|
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 Carrbrook 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 Carrbrook.
What kind of demographics does the city of Carrbrook have?
In the city of Carrbrook, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Carrbrook, 16.2 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Carrbrook.
What’s a social grade score and how does it relate to Carrbrook?
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 Carrbrook 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, £38,500 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%.
Carrbrook within Greater Manchester is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Carrbrook 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 Carrbrook.
Are the people of Carrbrook 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 Carrbrook 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.
In Carrbrook, what is the crime rate?
Within Carrbrook, the number of people committing crimes is 1 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 1 figure carefully.
How much do people in Carrbrook earn?
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 £38,500.
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 Carrbrook this figure is 18%.
What is the education level like in Carrbrook?
The number of people as a percentage who have been through university and gained a degree is 21%. The ability to buy a home is greatly influenced by the number of people who have degrees. £38,500 is the amount people in Carrbrook 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 Carrbrook, 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.
What does the population of Carrbrook look like?
In total, the number of people in Carrbrook is 27,625. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Carrbrook, depending on where exactly you are.
How has Carrbrook changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Carrbrook has changed by 3%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Carrbrook?
4% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Carrbrook have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
On average, what is the figure for the asking price of a house for sale in Carrbrook?
In the city of Carrbrook, 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)||£154,765|
|Average asking price (3 bed)||£240,522|
|Average asking price (4 bed)||£409,750|
|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 Carrbrook 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 Carrbrook is £237,745.
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 Carrbrook 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 Carrbrook?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Carrbrook. In Carrbrook, this sale price works out to be £177,421. As an example, a factor like population growth over the last 10 years which works out to be 4% in Carrbrook and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£318,771|
|Average sold price (semi-detached)||£177,156|
|Average sold price (terraced)||£129,723|
|Average sold price (flat)||£100,626|
Above, the exact type of house is also shown to vary in price in a table in Carrbrook. 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||£2,000|
|Average sold price/sqft (new build)||£2,300|
|Average sold price/sqft (old stock)||£1,880|
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 Carrbrook which is £2,000. 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.