What is it like buying a house in Crank?

by | Nov 15, 2022

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

What are the asking prices for the houses for sale in the city of Crank?

The average asking price for the houses for sale in the city of Crank

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £139,247
Average asking price (3 bed) £194,733
Average asking price (4 bed) £316,961
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 Crank 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.

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 Crank 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 £190,849.

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 Crank.

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

As well as looking at the asking price for house for sale in Crank, 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 Crank.

Houses for sale, are sold on average in Crank, after the influence of these factors, at £144,385 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) £256,986
Aerage sold price (semi-detached) £140,578
Aerage sold price (terraced) £100,483
Aerage sold price (flat) £94,016

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

Housing category Sale price per square foot
Aerage sold price/sqft £1,660
Aerage sold price/sqft (new build) £2,170
Aerage sold price/sqft (old stock) £1,600

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 Crank is £1,660.

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

Always consider average rental yield when searching for houses for sale in Crank

Are there more or fewer houses being built in Crank?

Before committing to Crank 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
Crank growth rate 8% 22% 25%

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 Crank is building housing to find your answer.

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 Crank. 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 Crank.

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 (Merseyside), a regional level (North West) and finally on the level of the city talked about in this article, Crank.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Crank 4.2% £670 no relevant data for this city 17.0%
Merseyside 4.76% £735 120.31% 21.51%
North West 4.36% £808 120.36% 20.19%

You may also find it useful to compare the data above to the number of properties sold per month Crank 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 kind of demographics does the city of Crank have?

What is the city of Crank’s social grade score?

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 Crank, the percentage of people in the two highest categories, A and B is 15%. 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 £37,400. This income will generally get bigger as the percentage of people in the A and B categories go up too (15%).

Are the deprivation levels of the UK any different to Crank?

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 30% for Crank should give you a nice idea of the deprivation in the area.

What is the education level like in Crank?

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. £37,400 is the amount people in Crank 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 Crank, 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 Crank look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Crank if 40,577 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 Crank such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Crank 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 Crank?

In the last decade, the population of Crank 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.

In general, do people commit a lot of crime in Crank?

Within Crank, the number of people committing crimes is 92 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 92 figure carefully.

What salary does the community in Crank take home?

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 £37,400.

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 Crank this figure is 15%.

Is there sufficient green space in Crank?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Crank, the city has 25.2 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Crank.

Crank in the county of Merseyside is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Crank is located in; North West.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Crank, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.