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 Binfield, Berkshire.
From the average asking price of houses for sale in Binfield to the growth of the population in the area, all will be talked about regarding the city of Binfield. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
On average, what is the figure for the asking price of a house for sale in Binfield?
Table showing the asking prices for houses for sale in Binfield
|Average asking price (1 bed)||£245,454|
|Average asking price (2 bed)||£336,330|
|Average asking price (3 bed)||£502,401|
|Average asking price (4 bed)||£706,667|
|Average asking price (5 bed)||£1,193,500|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Binfield is £4,880. This should show you the general prices overall and for individual types of houses too.
When speaking about the city of Binfield, £494,724 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Binfield.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
How are rental yields of the houses for sale different to the rest of the UK in Binfield?
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 Binfield to Berkshire 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 Binfield for profit in the future, in this case, looking at the data for the number of houses sold per month in Binfield would give you an idea of whether the area is actively getting new investors. This figure is 20.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Binfield. 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 Binfield, how has the number of houses changed?
Whenever you are thinking about looking for houses for sale in Binfield, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Binfield growth rate||6%||5%||15%|
As the population of Binfield grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
What kind of demographics does the city of Binfield have?
What is the social grade score of Binfield?
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 Binfield, the percentage of people in the two highest categories, A and B is 36%. 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 £58,900. This income will generally get bigger as the percentage of people in the A and B categories go up too (36%).
What’s the crime rate in Binfield?
The crime rate of Binfield 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 64, 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 (64) is both useful and is recommended to be compared to the average.
What does the population of Binfield look like?
The city of Binfield has a total population of 25,784. 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 Binfield 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 Binfield
Over time, in the last five years, the population of the city of Binfield 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 Binfield?
In the last 10 years, there has been a shift in the population of 10%.
Comparing this to the 5 year figure of Binfield 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.
The city of Binfield, situated in Berkshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Binfield 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 Binfield. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What salary does the community in Binfield take home?
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 £58,900.
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 Binfield this figure is 36%.
In Binfield, what are the deprivation levels like?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Binfield, in particular, the deprivation levels are 14%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Is there sufficient green space in Binfield?
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 Binfield, 29.2 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 Binfield.
In Binfield, how educated are people in general?
The number of people as a percentage who have been through university and gained a degree is 34%. The ability to buy a home is greatly influenced by the number of people who have degrees. £58,900 is the amount people in Binfield are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Binfield, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In general, what do houses for sale sell for in Binfield?
In Binfield, the average sale price of a house for sale is in fact £430,993. This is dependent on the 10 year population growth of Binfield being 10%. Growing populations are more likely to inflate the prices of houses for sale in the city of Binfield.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£579,934|
|Aerage sold price (semi-detached)||£437,850|
|Aerage sold price (terraced)||£344,811|
|Aerage sold price (flat)||£264,861|
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 Binfield.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£4,340|
|Aerage sold price/sqft (new build)||£4,270|
|Aerage sold price/sqft (old stock)||£4,290|
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 £4,610. This means if you are just looking out the houses sold in Binfield in general and didn’t take into consideration the type of build. For example, a new build.
Invest in houses for sale in Binfield with the right professional advice
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
Choose the right house for sale that suits your needs
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 Binfield.
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.
Thinking about other cities with houses for sale?
We have prepared a list of cities in South East, the same UK region of Binfield that can help you evaluate the different houses for sale listed in the region:
- Farnham-Common in South East
- Beltinge in South East
- Guildford in South East
- Farnborough in South East
- Isle-Of-Wight in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.