What is it like buying a house in Benson?

Benson can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Benson.

On top of this, keep reading for detailed information on the demographics of Benson in Oxfordshire. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

What’s the rental yield in general for the city of Benson?

Are there more or fewer houses being built in Benson?

Before committing to Benson 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
Benson growth rate	-5%	8%	14%

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

	Average Yield	Average Asking rent	Turnover (rental)	Turnover (sale)
Benson	3.5%	£1,489	140%	16.0%
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 Benson for profit in the future, in this case, looking at the data for the number of houses sold per month in Benson would give you an idea of whether the area is actively getting new investors. This figure is 22.

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

On average, what is the figure for the asking price of a house for sale in Benson?

In the city of Benson, what is the average asking price for the houses for sale?

Average asking price (1 bed)	no relevant data for this city
Average asking price (2 bed)	£348,138
Average asking price (3 bed)	£450,998
Average asking price (4 bed)	£746,999
Average asking price (5 bed)	£1,023,077

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 Benson is £4,690. This should show you the general prices overall and for individual types of houses too.

When investors make offers for houses for sale in Benson, the average price asked by the homeowners works out to be £504,368.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Benson is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Advice from experts on properties for sale in Benson

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

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Benson.
Here below are the most important ones according to Lofti’s expertise:

• Affordability – (see what house for sale can you afford?)

  A guide from the UK government

• 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.

• 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

• 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

• 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.

• 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

• 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

• 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.

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

For the city of Benson, the average price a house sells for is £413,773. This value usually depends on the exact location of the house within Benson 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)	£610,344
Aerage sold price (semi-detached)	£384,253
Aerage sold price (terraced)	£337,977
Aerage sold price (flat)	£235,804

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 Benson.

Housing category	Sale price per square foot
Aerage sold price/sqft	£3,930
Aerage sold price/sqft (new build)	£4,000
Aerage sold price/sqft (old stock)	£3,860

Generalising the bottom table, the average value per square foot of a house for sale is £4,310. This value averages all of the types of houses for sale in Benson. 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 Benson.

What are the people like in Benson?

Do the people of Benson get to enjoy green space?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Benson, 16.1 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Benson.

The city of Benson, situated in Oxfordshire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Benson and its demographics will be compared to its wider location (South East). 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 Benson. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What’s crime like in Benson?

For every one thousand people living in Benson, 52 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 52 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

What salary does the community in Benson take home?

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 (35%). 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 Benson, this works out to be £55,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

What’s a social grade score and how does it relate to Benson?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Benson, the percentage of people in the two highest categories, A and B is 35%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £55,400. This income will generally get bigger as the percentage of people in the A and B categories go up too (35%).

In Benson, what are the deprivation levels like?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Benson is 16% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

What does the population of Benson look like?

The city of Benson has a total population of 26,458. 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 Benson 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 Benson

Over time, in the last five years, the population of the city of Benson 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 Benson?

In the last 10 years, there has been a shift in the population of 7%.

Comparing this to the 5 year figure of Benson 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.

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

In the city of Benson, 38% 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 Benson is £55,400. 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.

Other cities you can consider looking for with houses for sale

Below are a list of towns with a similar location to Benson.
Reading these analysis will help you evaluate the different houses for sale currently listed in South East:

• Bidborough in South East
• Denton in South East
• Dorking in South East
• Cowes in South East
• Boarshead in South East

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.