Whenever looking for a house for sale in the UK or in Micklehurst, 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 Micklehurst.
In this article, we will be looking at the city of Micklehurst in detail so you know how to navigate the area and have a better understanding on where to invest.
In Micklehurst, 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 Micklehurst is £217,095.
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 Micklehurst is useful when negotiating and knowing what to expect for every type of house for sale.
Average asking prices for houses for sale in Micklehurst
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£175,089|
|Average asking price (3 bed)||£260,529|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Micklehurst has a lack of supply of housing in certain categories.
How are rental yields of the houses for sale different to the rest of the UK in Micklehurst?
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Micklehurst to Greater Manchester and the broader suburb of the UK; North West.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Micklehurst||no relevant data for this city||no relevant data for this city||no relevant data for this city||27.0%|
Let’s assume you want to sell the house you’re looking to buy in Micklehurst for profit in the future, in this case, looking at the data for the number of houses sold per month in Micklehurst would give you an idea of whether the area is actively getting new investors. This figure is 13.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Micklehurst. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
Are there new houses being built in Micklehurst to make it grow?
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 Micklehurst at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Micklehurst growth rate||5%||26%||40%|
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 Micklehurst 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 Micklehurst.
What are the demographics like in the city of Micklehurst?
What is the education level like in Micklehurst?
In the city of Micklehurst, 29% 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 Micklehurst is £41,900. 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.
What’s crime like in Micklehurst?
In Micklehurst, for every 1000 people, there is currently a crime rate of 1. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (1 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
How much do people in Micklehurst earn?
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.
£41,900 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 22% for Micklehurst.
What is the population of Micklehurst?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Micklehurst if 10,957 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 Micklehurst such as rental yield or house appreciation.
How has the population size of Micklehurst adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Micklehurst by 3%. 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 3% 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 Micklehurst?
In the last decade, the population of Micklehurst has been adjusted by 4%. 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 Micklehurst, what is the social grade score?
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 Micklehurst 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 Micklehurst, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 22%.
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|
The city of Micklehurst, situated in Greater Manchester, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Micklehurst 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 Micklehurst. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In the city of Micklehurst, how much green space remains for residents?
Whether you view green space in Micklehurst as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Micklehurst, the number of acres of green space for every 1000 people currently is 12.4 which can be measured against the UK average of 1.7.
How deprived is the population of Micklehurst?
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 22% for Micklehurst should give you a nice idea of the deprivation in the area.
In general, for the city of Micklehurst, what are the final purchase prices for the houses for sale?
For the city of Micklehurst, the average price a house sells for is £167,626. This value usually depends on the exact location of the house within Micklehurst as well as other factors like the population growth in Micklehurst which is 4% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£294,593|
|Aerage sold price (semi-detached)||£214,564|
|Aerage sold price (terraced)||£135,238|
|Aerage sold price (flat)||£115,740|
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 Micklehurst.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,000|
|Aerage sold price/sqft (new build)||£2,150|
|Aerage sold price/sqft (old stock)||£1,880|
Generalising the bottom table, the average value per square foot of a house for sale is £2,000. This value averages all of the types of houses for sale in Micklehurst. 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 Micklehurst.