As a landlord, whenever you are looking at houses for sale in Oxfordshire, you could find varying prices throughout an area like Banbury. 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 Banbury 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 Banbury will be revealed. Keep reading.
houses for sale in other cities in the UK
Examine this short list of cities belonging to South East, the same region where Banbury is located.
- Burlow in South East
- Bembridge in South East
- Adwell in South East
- Bapchild in South East
- Ascot in South East
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Get professional help on the houses for sale in Banbury
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
What are the asking prices for the houses for sale in the city of Banbury?
On average, in Banbury, the asking price for a house for sale in the area is £296,034.
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 Banbury. 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 price of 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 |
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Banbury is £2,910. This should show you the general prices overall and for individual types of houses too.
What are the people like in Banbury?
How deprived is the population of Banbury?
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.
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.
In Banbury, what is the 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 |
What is the education level like in Banbury?
In Banbury, the proportion of people who have a degree is 21%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Banbury is £44,200.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
Are the people in Banbury earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Banbury, the average income is £44,200. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 17% to decide on what the demographics are like in the area.
How much green space is available to residents of Banbury?
Whether you view green space in Banbury 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 Banbury, the number of acres of green space for every 1000 people currently is 8.2 which can be measured against the UK average of 1.7.
In the city of Banbury, has the population grown or shrunk?
The city of Banbury has a total population of 46,663. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Banbury is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Banbury
Over time, in the last five years, the population of the city of Banbury has changed by 4%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 4% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Banbury?
In the last 10 years, there has been a shift in the population of 7%.
Comparing this to the 5 year figure of Banbury can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
In general, do people commit a lot of crime in Banbury?
Within Banbury, the number of people committing crimes is 133 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 133 figure carefully.
In general, what do houses for sale sell for in Banbury?
For the city of Banbury, the average price a house sells for is £257,062. This value usually depends on the exact location of the house within Banbury as well as other factors like the population growth which is 7% over a ten-year period.
| 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 |
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 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 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,870. This value averages all of the types of houses for sale in Banbury. 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 Banbury.
A house for sale appropriate to your needs
Many criteria impact the price of houses for sale in Banbury.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
Always consider average rental yield when searching for houses for sale in Banbury
In Banbury, how has the number of houses changed?
Before committing to Banbury 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 | |
|---|---|---|---|
| Banbury growth rate | -1% | -1% | 8% |
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 Banbury is building housing to find your answer.
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.
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