fbpx

What is it like buying a house in Chapel House?

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 Chapel House?

As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Chapel House. 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 Chapel House 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 Chapel House will be revealed. Keep reading.

What are the people like in Chapel House?

What is the education level like in Chapel House?

Interestingly, the percentage of people who have a degree in the city of Chapel House 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 Chapel House is £36,300.

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.

Do the people of Chapel House get to enjoy green space?

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 Chapel House currently has 21.3 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 Chapel House in this case.

What’s crime like in Chapel House?

Within Chapel House, the number of people committing crimes is 101 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 101 figure carefully.

Is the city of Chapel House deprived?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 29% for Chapel House should give you a nice idea of the deprivation in the area.

The city of Chapel House, situated in Lancashire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Chapel House and its demographics will be compared to its wider location (North West). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Chapel House. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Have the people of Chapel House grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Chapel House if 46,210 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 Chapel House such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Chapel House by 2%. 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 2% 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 Chapel House?

In the last decade, the population of Chapel House has been adjusted by 3%. 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 do people in Chapel House earn?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Chapel House. Compare the area’s average household income of £36,300 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 13% for more conclusive data on the affluence of the area.

What is the social grade score of Chapel House?

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 Chapel House, the percentage of people in the two highest categories, A and B is 13%. 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 £36,300. This income will generally get bigger as the percentage of people in the A and B categories go up too (13%).

What is the asking price on average of houses for sale in Chapel House?

Table showing the asking prices for houses for sale in Chapel House

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £136,833
Average asking price (3 bed) £163,954
Average asking price (4 bed) £291,883
Average asking price (5 bed) no relevant data for this city

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

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Chapel House determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £188,436.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Chapel House.

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

As well as looking at the asking price for house for sale in Chapel House, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Chapel House.

Houses for sale, are sold on average in Chapel House, after the influence of these factors, at £146,777 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £241,253
Aerage sold price (semi-detached) £145,025
Aerage sold price (terraced) £90,090
Aerage sold price (flat) £77,220

This table above shows the average sale price for each variation of houses for sale in Chapel House.

Housing category Sale price per square foot
Aerage sold price/sqft £1,610
Aerage sold price/sqft (new build) £1,960
Aerage sold price/sqft (old stock) £1,490

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Chapel House is £1,610.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

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

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Chapel House, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; North West. As well as Lancashire, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Chapel House 4.2% £657 no relevant data for this city 14.0%
Lancashire 4.25% £691 100.27% 17.49%
North West 4.36% £808 120.36% 20.19%

Assuming that in the future you want to re-sell the house you will eventually purchased in Chapel House you might be interested in the number of sales per month (23) that happen in the local housing market. Comparing this figure for Chapel House with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Chapel House?

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 Chapel House at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Chapel House growth rate -7% 2% 2%

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 Chapel House 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 Chapel House.

Invest in houses for sale in Chapel House with the right professional advice

Other cities you can consider looking for with houses for sale

We have prepared a list of cities in North West, the same UK region of Chapel House that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.

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

Invest in a house for sale that meets your demands

What parameters impact the final price of a house for sale in Chapel House?
Here below is our list with the most important ones:

  • House for sale affordability – check out the (see house affordability guide)

    on the UK gov website to know more

  • House Location – the actual location of a house for sale drastically changes the final price of a property

  • Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

  • Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

  • Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

  • Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

  • Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

  • Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

  • Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *