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 Basingstoke, Hampshire.
From the average asking price of houses for sale in Basingstoke to the growth of the population in the area, all will be talked about regarding the city of Basingstoke. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What’s the rental yield in general for the city of Basingstoke?
What is the growth in the housing market of Basingstoke?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Basingstoke that shows the growth in recent years.
|1 year||3 years||5 years|
|Basingstoke growth rate||-2%||21%||9%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Basingstoke is important.
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 Basingstoke to Hampshire and the broader suburb of the UK; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Basingstoke for profit in the future, in this case, looking at the data for the number of houses sold per month in Basingstoke would give you an idea of whether the area is actively getting new investors. This figure is 24.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Basingstoke. 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.
In Basingstoke, what are the demographics like?
How much do people in Basingstoke earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (28%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Basingstoke, this works out to be £53,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Basingstoke, is there a lot of green space?
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 Basingstoke, the city has 7.3 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 Basingstoke.
Are the people of Basingstoke deprived?
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 Basingstoke is 20%.
Have the people of Basingstoke grown in numbers?
In total, the number of people in Basingstoke is 26,624. 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 Basingstoke, depending on where exactly you are.
How has Basingstoke 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 Basingstoke has changed by 2%. 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 2% 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 Basingstoke?
7% 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 Basingstoke 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 Basingstoke, how educated are people in general?
In Basingstoke, the proportion of people who have a degree is 29%. 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 Basingstoke is £53,000.
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.
What’s crime like in Basingstoke?
The crime rate of Basingstoke 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 159, 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 (159) is both useful and is recommended to be compared to the average.
In the city of Basingstoke, 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 Hampshire for example.
These demographics for Basingstoke 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 Basingstoke in South East.
In Basingstoke, what is the social grade score?
In the city of Basingstoke, the social grade score of the area is 28%. 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 Basingstoke.
|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 asking price on average of houses for sale in Basingstoke?
The average asking price for the houses for sale in the city of Basingstoke
|Average asking price (1 bed)||£165,643|
|Average asking price (2 bed)||£236,244|
|Average asking price (3 bed)||£339,417|
|Average asking price (4 bed)||£443,529|
|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 Basingstoke has a lack of supply of housing in certain categories.
On average, in Basingstoke, the asking price for a house for sale in the area is £281,219.
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 Basingstoke. 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.
In general, for the city of Basingstoke, what are the final purchase prices for the houses for sale?
In Basingstoke, houses for sale are sold at an average of £254,216. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Basingstoke. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£453,272|
|Aerage sold price (semi-detached)||£349,678|
|Aerage sold price (terraced)||£270,473|
|Aerage sold price (flat)||£193,822|
As you can see above, for Basingstoke, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 7% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,270|
|Aerage sold price/sqft (new build)||£3,540|
|Aerage sold price/sqft (old stock)||£3,140|
Looking at the second table about Basingstoke, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Basingstoke is £3,270.
Who can help you buy a house for sale in Basingstoke?
Finding the ideal house for sale for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Basingstoke
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
houses for sale in other cities in the UK
We have prepared a list of cities in South East, the same UK region of Basingstoke that can help you evaluate the different houses for sale listed in the region:
- Bagshot in South East
- Battle in South East
- Aldwick in South East
- Boars-Hill in South East
- Balls-Cross in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city