Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Bank, Hampshire.
From the average asking price of houses for sale in Bank, to the growth of the population in the area, all will be talked about regarding the city of Bank. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Get professional help on the houses for sale in Bank
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Invest in a house for sale that meets your demands
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 Bank.
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.
What is the final sale price of a house in Bank?
In Bank, the average sale price of a house for sale is in fact £530,455. This is dependent on the 10 year population growth of Bank being 2%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bank.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£704,144|
|Aerage sold price (semi-detached)||£413,435|
|Aerage sold price (terraced)||£373,191|
|Aerage sold price (flat)||£230,343|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Bank.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£4,040|
|Aerage sold price/sqft (new build)||£3,490|
|Aerage sold price/sqft (old stock)||£3,880|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £4,040. This means if you are just looking out the houses sold in Bank in general and didn’t take into consideration the type of build. For example, a new build.
What are the people like in Bank?
What is the social grade score of Bank?
In the city of Bank, the social grade score of the area is 38%. 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 Bank.
|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|
Are the deprivation levels of the UK any different to Bank?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Bank is £0.
In Bank, what is the crime rate?
For the city of Bank, crime rate is at 10000%. So for every 1000 people in the area, 10000% commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
Are the people in Bank earning a lot?
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.
£47,500.00 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 38% for Bank.
What is the population of Bank?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bank if 4382 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 Bank such as rental yield or house appreciation.
How has the population size of Bank adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Bank by 0%. 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 0% 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 Bank?
In the last decade, the population of Bank has been adjusted by 2%. 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.
Is the education level of Bank important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Bank is 30%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Bank is £47,500.00.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
Bank within Hampshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Bank will be looked at by comparing it to the local region, as well as comparing it to the wider region too (South East). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Bank.
How much green space is available to residents of Bank?
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 Bank, the city has 98 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 Bank.
What are the asking prices for the houses for sale in the city of Bank?
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 Bank 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 £743,097.
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 Bank.
Average prices for the houses for sale in Bank
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|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 (£0) for houses for sale with this table to get a good idea as to whether Bank is the right area to buy a house in for you.
How are rental yields of the houses for sale different to the rest of the UK in Bank?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Bank, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South East. As well as Hampshire, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Bank||no relevant data for this city||no relevant data for this city||no relevant data for this city||£0|
Assuming that in the future you want to re-sell the house you will eventually purchased in Bank you might be interested in the number of sales per month (4) that happen in the local housing market. Comparing this figure for Bank with the above table gives you a good understanding of the profitability of the area.
What is the growth in the housing market of Bank?
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 Bank at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Bank growth rate||30%||26%||57%|
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 Bank 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 Bank.
Thinking of a different city and perhaps a different location?
We have prepared a list of cities that are entirely dissimilar to the region of South East, perfect if you are looking for somewhere similar to Bank but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:
- bwlch-y-sarnau in South East
- bastwick in South East
- nottingham in South East
- ball-haye-green in South East
- awliscombe in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.