How much does a house for sale cost in Chunal?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North West $ How much does a house for sale cost in Chunal?

Whenever looking for a house for sale in the UK or in Chunal, it is vital you look at the market trends and house price fluctuations in the wider area of Derbyshire 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 Chunal.

In this article, we will be looking at the city of Chunal in detail so you know how to navigate the area and have a better understanding on where to invest.

What are the demographics like in the city of Chunal?

Do the people of Chunal 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 Chunal currently has 7.8 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 Chunal in this case.

In Chunal, what are the deprivation levels like?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Chunal, in particular, the deprivation levels are 27%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

What’s the crime rate in Chunal?

For the city of Chunal, crime rate is at 99. So for every 1000 people in the area, 99 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

How much do people in Chunal 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 Chunal. Compare the area’s average household income of £44,600 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 25% for more conclusive data on the affluence of the area.

In Chunal, how has the population changed?

Population growth in Chunal is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Chunal, 33,104 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Chunal in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Chunal, this change has been 1%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 1%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Chunal?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 2% in Chunal.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

For the city of Chunal, what is the education level?

In the city of Chunal, 25% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Chunal is £44,600. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

Located in Derbyshire is the city of Chunal, in a large part of the UK; North West. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Chunal has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Chunal which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What is the social grade score of Chunal?

In the city of Chunal and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Chunal has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 25%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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

Asking price in Chunal for a house for sale

On average, in Chunal, the asking price for a house for sale in the area is £247,280.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Chunal. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Average asking prices for houses for sale in Chunal

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £179,607
Average asking price (3 bed) £269,060
Average asking price (4 bed) £397,617
Average asking price (5 bed) no relevant data for this city

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Chunal and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

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

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Chunal this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (North West) alongside Derbyshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Chunal.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Chunal 3.9% £794 140% 18.0%
Derbyshire 3.76% £772 125.53% 20.69%
North West 4.36% £808 120.36% 20.19%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Chunal.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (24) will be useful.

Is the housing market in Chunal growing?

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

1 year 3 years 5 years
Chunal growth rate -1% 10% 22%

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 Chunal 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 Chunal.

What is the final sale price of a house in Chunal?

For the city of Chunal, the average price a house sells for is £202,688. This value usually depends on the exact location of the house within Chunal as well as other factors like the population growth in Chunal which is 2% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £323,911
Aerage sold price (semi-detached) £209,818
Aerage sold price (terraced) £155,569
Aerage sold price (flat) £134,896

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 Chunal.

Housing category Sale price per square foot
Aerage sold price/sqft £2,270
Aerage sold price/sqft (new build) £2,450
Aerage sold price/sqft (old stock) £2,130

Generalising the bottom table, the average value per square foot of a house for sale is £2,270. This value averages all of the types of houses for sale in Chunal. 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 Chunal.