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Egremont – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the North West $ Egremont – What to look for in houses for sale?

Egremont can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Egremont.

On top of this, keep reading for detailed information on the demographics of Egremont in Merseyside. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

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

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Egremont.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Merseyside) as well as the broader region; North West.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Egremont 5.0% £627 no relevant data for this city 25.5%
Merseyside 4.76% £735 120.31% 21.51%
North West 4.36% £808 120.36% 20.19%

Also, you can compare other data to the table above such as the number of houses sold per month in Egremont which is 38 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Egremont is to invest in. Both in terms of rental yield and capital appreciation.

In Egremont, how has the number of houses changed?

The growth of an area like Egremont can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Egremont growth rate -1% 20% 20%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Egremont if you want to find out the exact reasons for the housing change.

Are there any important statistics about the population of Egremont?

What’s a social grade score and how does it relate to Egremont?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Egremont compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Egremont, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 12%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

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

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

The crime rate of Egremont must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 115, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (115) is both useful and is recommended to be compared to the average.

In the city of Egremont, 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 Egremont, 8.4 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 Egremont.

The city of Egremont, situated in Merseyside, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Egremont 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 Egremont. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Is the education level of Egremont important when buying a house?

In the city of Egremont, 18% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Egremont is £36,500.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

How much are those living in Egremont earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£36,500 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 12% for Egremont.

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

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 Egremont is 32% 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 the city of Egremont, has the population grown or shrunk?

In total, the number of people in Egremont is 39,279. 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 Egremont, depending on where exactly you are.

How has Egremont 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 Egremont has changed by -1%. 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 -1% 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 Egremont?

-1% 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 Egremont 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.

In general, what do houses for sale sell for in Egremont?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Egremont. In Egremont, this sale price works out to be £115,830. As an example, a factor like population growth over the last 10 years which works out to be -1% in Egremont and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £205,650
Average sold price (semi-detached) £130,524
Average sold price (terraced) £90,471
Average sold price (flat) £81,142

Above, the exact type of house is also shown to vary in price in a table in Egremont. 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 £1,140
Average sold price/sqft (new build) £365
Average sold price/sqft (old stock) £1,110

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 Egremont which is £1,140. 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.

In Egremont, what is the asking price in general for a house for sale?

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 Egremont is £151,893.

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 Egremont is useful when negotiating and knowing what to expect for every type of house for sale.

Average asking prices for houses for sale in Egremont

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £106,000
Average asking price (3 bed) £145,579
Average asking price (4 bed) £187,717
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 Egremont 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.

Advice from experts on properties for sale in Egremont

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

House for sale in the same UK region

You can assess the various houses for sale offered in the area by consulting this list of cities in North West, the same UK region as Egremont:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

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 Egremont.

  • 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.

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