Whenever looking for a house for sale in the UK or in Dorking, it is vital you look at the market trends and house price fluctuations in the wider area of Surrey 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 Dorking.
In this article, we will be looking at the city of Dorking in detail so you know how to navigate the area and have a better understanding on where to invest.
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Dorking
-
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
-
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
-
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
-
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
-
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
-
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
-
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
-
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
-
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Are you considering other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in South East, the same UK region as Dorking:
- Cooden in South East
- Bentley in South East
- Balmerlawn in South East
- Chestfield in South East
- Hampden-Park in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
In Dorking, what are the rental yields?
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 Dorking. 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 Dorking.
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 (Surrey), a regional level (South East) and finally on the level of the city talked about in this article, Dorking.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Dorking | 3.4% | £1,243 | no relevant data for this city | 19.0% |
| Surrey | 3.38% | £1,657 | 117.61% | 16.05% |
| 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 Dorking experiences. This figure for house sales per month is 16. 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.
Are there more or fewer houses being built in Dorking?
The growth of an area like Dorking can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Dorking growth rate | -3% | 15% | 6% |
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Dorking if you want to find out the exact reasons for the housing change.
Professional advice for houses for sale in Dorking
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
In general, what do houses for sale sell for in Dorking?
For the city of Dorking, the average price a house sells for is £446,636. This value usually depends on the exact location of the house within Dorking as well as other factors like the population growth which is 3% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £798,982 |
| Aerage sold price (semi-detached) | £496,727 |
| Aerage sold price (terraced) | £424,340 |
| Aerage sold price (flat) | £263,249 |
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 Dorking.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £4,720 |
| Aerage sold price/sqft (new build) | £4,810 |
| Aerage sold price/sqft (old stock) | £4,680 |
Generalising the bottom table, the average value per square foot of a house for sale is £4,970. This value averages all of the types of houses for sale in Dorking. 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 Dorking.
Are there any important statistics about the population of Dorking?
How much are those living in Dorking 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 Dorking, the average income is £56,300. 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 37% to decide on what the demographics are like in the area.
How deprived is the population of Dorking?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Dorking is 17%.
How much green space is available to residents of Dorking?
In the city of Dorking, there are 60.0 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Dorking is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is a social grade score and how does this relate to Dorking?
In the city of Dorking and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Dorking has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 37%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| 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 |
In the city of Dorking, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Surrey for example.
These demographics for Dorking may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Dorking in South East.
How educated are the people in Dorking?
In the city of Dorking, 39% 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 Dorking is £56,300. 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.
What’s the crime rate in Dorking?
Within Dorking, the number of people committing crimes is 81 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 81 figure carefully.
What does the population of Dorking look like?
The city of Dorking has a total population of 15,627. 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 Dorking 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 Dorking
Over time, in the last five years, the population of the city of Dorking has changed by 1%. 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 1% 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 Dorking?
In the last 10 years, there has been a shift in the population of 3%.
Comparing this to the 5 year figure of Dorking 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.
In Dorking, what is the asking price in general for a house for sale?
Average prices for the houses for sale in Dorking
| Average asking price (1 bed) | £245,291 |
| Average asking price (2 bed) | £375,170 |
| Average asking price (3 bed) | £538,750 |
| Average asking price (4 bed) | £852,308 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Dorking, 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 £5,230 will help them to have a more holistic understanding.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Dorking determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £433,806.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Dorking.
Recent Comments