As a landlord, whenever you are looking at houses for sale in Kent, you could find varying prices throughout an area like Chipstead. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Chipstead to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Chipstead will be revealed. Keep reading.
Asking price in Chipstead for a house for sale
In the city of Chipstead, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £295,667 |
| Average asking price (2 bed) | £454,489 |
| Average asking price (3 bed) | £646,971 |
| Average asking price (4 bed) | £972,667 |
| Average asking price (5 bed) | £1,690,238 |
After looking at this table about prices of houses for sale in Chipstead, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £6,050 will help them to have a more holistic understanding.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Chipstead is £679,674.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Chipstead is useful when negotiating and knowing what to expect for every type of house for sale.
Always consider average rental yield when searching for houses for sale in Chipstead
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Chipstead. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Chipstead.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Kent), a regional level (South East) and finally on the level of the city talked about in this article, Chipstead.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Chipstead | 2.9% | £1,618 | 132% | 14.0% |
| Kent | 3.63% | £1,229 | 130.16% | 16.77% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
You may also find it useful to compare the data above to the number of properties sold per month Chipstead experiences. This figure for house sales per month is 23. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
What is the growth in the housing market of Chipstead?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Chipstead at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Chipstead growth rate | 4% | 15% | 27% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Chipstead gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Chipstead.
Are there any important statistics about the population of Chipstead?
Is the crime rate bad in the city of Chipstead?
For the city of Chipstead, crime rate is at 83. So for every 1000 people in the area, 83 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
Located in Kent is the city of Chipstead, in a large part of the UK; South East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Chipstead has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Chipstead which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
How much are those living in Chipstead earning?
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 Chipstead, the average income is £63,800. 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 49% to decide on what the demographics are like in the area.
In the city of Chipstead, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Chipstead if 24,932 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Chipstead such as rental yield or house appreciation.
How has the population size of Chipstead adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Chipstead by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Chipstead?
In the last decade, the population of Chipstead has been adjusted by 6%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Is the education level of Chipstead important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Chipstead is 45%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Chipstead is £63,800.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
What is the city of Chipstead’s social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Chipstead in grades A or B which are the highest skilled roles in the country is 49%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £63,800 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 49%.
How deprived is the population of Chipstead?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Chipstead, currently, 14% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
Is there sufficient green space in Chipstead?
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 Chipstead, 43.8 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 Chipstead.
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 Chipstead.
-
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.
Invest in houses for sale in Chipstead with the right professional advice
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
Examine this short list of cities belonging to South East, the same region where Chipstead is located.
- Bray in South East
- Chalfont-Common in South East
- Bar-End in South East
- Great-Barrington in South East
- College-Town in South East
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
In general, what do houses for sale sell for in Chipstead?
In Chipstead, the average sale price of a house for sale is in fact £604,003. This is dependent on the 10 year population growth of Chipstead being 6%. Growing populations are more likely to inflate the prices of houses for sale in the city of Chipstead.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £1,058,472 |
| Aerage sold price (semi-detached) | £545,358 |
| Aerage sold price (terraced) | £417,108 |
| Aerage sold price (flat) | £318,177 |
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 Chipstead.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £5,330 |
| Aerage sold price/sqft (new build) | £5,670 |
| Aerage sold price/sqft (old stock) | £5,180 |
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 £5,690. This means if you are just looking out the houses sold in Chipstead in general and didn’t take into consideration the type of build. For example, a new build.
Recent Comments