Whenever looking for a house for sale in the UK or in Chineham, it is vital you look at the market trends and house price fluctuations in the wider area of Hampshire 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 Chineham.
In this article, we will be looking at the city of Chineham in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the people like in Chineham?
How much do people in Chineham earn?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Chineham. Compare the area’s average household income of £58,300 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 29% for more conclusive data on the affluence of the area.
Are the deprivation levels of the UK any different to Chineham?
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 Chineham is 18% 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.
The city of Chineham, situated in Hampshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Chineham 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 Chineham. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Do the people of Chineham get to enjoy green space?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Chineham currently has 17.5 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Chineham in this case.
In the city of Chineham, has the population grown or shrunk?
Population growth in Chineham 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 Chineham, 31,488 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 Chineham 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 Chineham, this change has been 2%. 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 2%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Chineham?
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 7% in Chineham.
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.
Is the education level of Chineham important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 31%. The ability to buy a home is greatly influenced by the number of people who have degrees. £58,300 is the amount people in Chineham 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 Chineham, 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.
What’s the crime rate in Chineham?
The crime rate of Chineham 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 88, 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 (88) is both useful and is recommended to be compared to the average.
In Chineham, what is the social grade score?
In the city of Chineham, the social grade score of the area is 29%. 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 Chineham.
|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|
On average, what is the figure for the asking price of a house for sale in Chineham?
In the city of Chineham, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£176,323|
|Average asking price (2 bed)||£251,143|
|Average asking price (3 bed)||£394,833|
|Average asking price (4 bed)||£536,709|
|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 Chineham has a lack of supply of housing in certain categories.
When investors make offers for houses for sale in Chineham, the average price asked by the homeowners works out to be £376,399.
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 Chineham 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.
In Chineham, what are the rental yields?
What is the growth in the housing market of Chineham?
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 Chineham that shows the growth in recent years.
|1 year||3 years||5 years|
|Chineham growth rate||-6%||-9%||no relevant data for this city|
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 Chineham is important.
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 Chineham, 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)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Chineham you might be interested in the number of sales per month (25) that happen in the local housing market. Comparing this figure for Chineham with the above table gives you a good understanding of the profitability of the area.
In Chineham, what do houses for sale tend to sell for?
For the city of Chineham, the average price a house sells for is £320,357. This value usually depends on the exact location of the house within Chineham as well as other factors like the population growth in Chineham which is 7% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£451,859|
|Aerage sold price (semi-detached)||£341,905|
|Aerage sold price (terraced)||£276,635|
|Aerage sold price (flat)||£181,165|
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 Chineham.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,490|
|Aerage sold price/sqft (new build)||£3,540|
|Aerage sold price/sqft (old stock)||£3,400|
Generalising the bottom table, the average value per square foot of a house for sale is £3,490. This value averages all of the types of houses for sale in Chineham. 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 Chineham.
Advice from experts on properties for sale in Chineham
A house for sale appropriate to 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 Chineham.
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.
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 Chineham that can help you evaluate the different houses for sale listed in the region:
- Bidborough in South East
- Cranmore in South East
- Bishopstone in South East
- Barham in South East
- Alkerton in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.