Banbury – What to look for in houses for sale?

by | Nov 15, 2022

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Banbury might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Oxfordshire.
Before looking for a house for sale in the city of Banbury we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Banbury.

Asking price in Banbury for a house for sale

Table showing the asking prices for houses for sale in Banbury

Average asking price (1 bed) £152,033
Average asking price (2 bed) £223,569
Average asking price (3 bed) £309,467
Average asking price (4 bed) £456,331
Average asking price (5 bed) no relevant data for this city

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£2,910) for houses for sale with this table to get a good idea as to whether Banbury is the right area to buy a house in for you.

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 Banbury is £296,034.

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

In Banbury, what do houses for sale tend to sell for?

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

Houses for sale, are sold on average in Banbury, after the influence of these factors, at £257,062 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 7% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £354,761
Aerage sold price (semi-detached) £256,197
Aerage sold price (terraced) £222,190
Aerage sold price (flat) £151,102

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

Housing category Sale price per square foot
Aerage sold price/sqft £2,840
Aerage sold price/sqft (new build) £2,990
Aerage sold price/sqft (old stock) £2,760

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 Banbury is £2,870.

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

How are rental yields of the houses for sale different to the rest of the UK in Banbury?

Are there new houses being built in Banbury to make it grow?

The growth of an area like Banbury 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
Banbury growth rate -1% -1% 8%

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 Banbury if you want to find out the exact reasons for the housing change.

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 Banbury to Oxfordshire and the broader suburb of the UK; South East.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Banbury 4.1% £1,003 140% 21.0%
Oxfordshire 3.64% £1,404 124.23% 15.46%
South East 3.58% £1,301 127.50% 16.69%

Let’s assume you want to sell the house you’re looking to buy in Banbury for profit in the future, in this case, looking at the data for the number of houses sold per month in Banbury would give you an idea of whether the area is actively getting new investors. This figure is 43.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Banbury. 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.

What are the people like in Banbury?

Is there sufficient green space in Banbury?

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 Banbury, the city has 8.2 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 Banbury.

In the city of Banbury, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Oxfordshire for example.

These demographics for Banbury may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Banbury in South East.

Are the people in Banbury earning a lot?

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 £44,200.

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 Banbury this figure is 17%.

In Banbury, what are the deprivation levels like?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Banbury, currently, 24% people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

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

In the city of Banbury, 21% 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 Banbury is £44,200. 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 is the city of Banbury’s social grade score?

In the city of Banbury, the social grade score of the area is 17%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Banbury.

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

Have the people of Banbury grown in numbers?

Population growth in Banbury 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 Banbury, 46,663 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 Banbury 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 Banbury, this change has been 4%. 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 4%. Click here to know more on the UK population trends.

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

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 7% in Banbury.

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.

In Banbury, what is the crime rate?

The crime rate of Banbury 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 133, 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 (133) is both useful and is recommended to be compared to the average.