Whenever looking for a house for sale in the UK or in Cheriton, it is vital you look at the market trends and house price fluctuations in the wider area of Kent too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Cheriton.
In this article, we will be looking at the city of Cheriton in detail so you know how to navigate the area and have a better understanding on where to invest.
What kind of demographics does the city of Cheriton have?
In the city of Cheriton, has the population grown or shrunk?
Population growth in Cheriton is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Cheriton, 28,440 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Cheriton in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Cheriton, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Cheriton?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 6% in Cheriton.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
In the city of Cheriton, how much green space remains for residents?
Whether you view green space in Cheriton 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 Cheriton, the number of acres of green space for every 1000 people currently is 12.9 which can be measured against the UK average of 1.7.
How much do people in Cheriton earn?
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 Cheriton, the average income is £41,400. 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 14% to decide on what the demographics are like in the area.
How deprived is the population of Cheriton?
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 Cheriton is 31% 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.
Cheriton within Kent is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Cheriton 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 Cheriton.
What is the social grade score of Cheriton?
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 Cheriton, the percentage of people in the two highest categories, A and B is 14%. 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 £41,400. This income will generally get bigger as the percentage of people in the A and B categories go up too (14%).
Is the crime rate bad in the city of Cheriton?
The crime rate of Cheriton 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 118, 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 (118) is both useful and is recommended to be compared to the average.
How educated are the people in Cheriton?
The number of people as a percentage who have been through university and gained a degree is 18%. The ability to buy a home is greatly influenced by the number of people who have degrees. £41,400 is the amount people in Cheriton 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 Cheriton, 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 Cheriton, what are the rental yields?
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 Cheriton, 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 Kent, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Cheriton||4.2%||£1,062||no relevant data for this city||24.0%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Cheriton you might be interested in the number of sales per month (22) that happen in the local housing market. Comparing this figure for Cheriton with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Cheriton?
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 Cheriton that shows the growth in recent years.
|1 year||3 years||5 years|
|Cheriton growth rate||7%||24%||29%|
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 Cheriton is important.
Asking price in Cheriton for a house for sale
The average asking price for the houses for sale in the city of Cheriton
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£241,774|
|Average asking price (3 bed)||£314,891|
|Average asking price (4 bed)||£409,048|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Cheriton and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
When speaking about the city of Cheriton, £305,517 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 Cheriton.
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.
In general, what do houses for sale sell for in Cheriton?
For the city of Cheriton, the average price a house sells for is £241,493. This value usually depends on the exact location of the house within Cheriton as well as other factors like the population growth in Cheriton which is 6% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£382,104|
|Aerage sold price (semi-detached)||£285,065|
|Aerage sold price (terraced)||£214,986|
|Aerage sold price (flat)||£134,803|
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 Cheriton.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,500|
|Aerage sold price/sqft (new build)||£2,570|
|Aerage sold price/sqft (old stock)||£2,380|
Generalising the bottom table, the average value per square foot of a house for sale is £2,500. This value averages all of the types of houses for sale in Cheriton. 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 Cheriton.
Who can help you buy a house for sale in Cheriton?
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Cheriton?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
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
houses for sale in other cities in the UK
We have prepared a list of cities in South East, the same UK region of Cheriton that can help you evaluate the different houses for sale listed in the region:
- North-Baddesley in South East
- Cuxton in South East
- Ashurst in South East
- Crookham in South East
- Allhallows in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.