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 Dorking, Surrey.
From the average asking price of houses for sale in Dorking to the growth of the population in the area, all will be talked about regarding the city of Dorking. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What kind of demographics does the city of Dorking have?
Are the people in Dorking earning a lot?
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.
Is the crime rate bad in the city of Dorking?
For the city of Dorking, crime rate is at 81. So for every 1000 people in the area, 81 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.
How much green space is available to residents of Dorking?
Whether you view green space in Dorking 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 Dorking, the number of acres of green space for every 1000 people currently is 60.0 which can be measured against the UK average of 1.7.
Are the deprivation levels of the UK any different to 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%.
In Dorking, what is the 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 Dorking in grades A or B which are the highest skilled roles in the country is 37%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £56,300 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 37%.
Is the education level of Dorking important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Dorking is 39%. 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 Dorking is £56,300.
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.
Dorking within Surrey is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Dorking 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 Dorking.
In the city of Dorking, has the population grown or shrunk?
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.
How are rental yields of the houses for sale different to the rest of the UK in Dorking?
Are there new houses being built in Dorking to make it grow?
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 Dorking that shows the growth in recent years.
|1 year||3 years||5 years|
|Dorking growth rate||-3%||15%||6%|
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 Dorking is important.
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 Dorking to Surrey and the broader suburb of the UK; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Dorking||3.4%||£1,243||no relevant data for this city||19.0%|
Let’s assume you want to sell the house you’re looking to buy in Dorking for profit in the future, in this case, looking at the data for the number of houses sold per month in Dorking would give you an idea of whether the area is actively getting new investors. This figure is 16.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Dorking. 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.
What is the asking price on average of houses for sale in Dorking?
Average price of 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|
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 Dorking is £5,230. This should show you the general prices overall and for individual types of houses too.
On average, in Dorking, the asking price for a house for sale in the area is £433,806.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Dorking. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
In Dorking, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Dorking, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Dorking.
Houses for sale, are sold on average in Dorking, after the influence of these factors, at £446,636 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.
|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|
This table above shows the average sale price for each variation of houses for sale in 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|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Dorking is £4,970.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.