Whenever looking for a house for sale in the UK or in Eastry, 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 Eastry.
In this article, we will be looking at the city of Eastry in detail so you know how to navigate the area and have a better understanding on where to invest.
On average, what is the figure for the asking price of a house for sale in Eastry?
Table showing the asking prices for houses for sale in Eastry
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£328,500|
|Average asking price (3 bed)||£408,250|
|Average asking price (4 bed)||£604,545|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Eastry, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market 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 £0 will help them to have a more wholistic 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 Eastry 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 £426,043.
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 Eastry.
What are the demographics like in the city of Eastry?
Have the people of Eastry grown in numbers?
The city of Eastry has a total population of 8,671. 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 Eastry 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 Eastry
Over time, in the last five years, the population of the city of Eastry has changed by 5%. 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 5% 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 Eastry?
In the last 10 years, there has been a shift in the population of 7%.
Comparing this to the 5 year figure of Eastry 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.
Eastry in the county of Kent is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Eastry is located in; South East.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Eastry, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
In the city of Eastry, is there a lot of green space?
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 Eastry, 90.7 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 Eastry.
Is the education level of Eastry important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Eastry is 29%. 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 Eastry is £44,100.
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’s the crime rate in Eastry?
The crime rate of Eastry 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 79, 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 (79) is both useful and is recommended to be compared to the average.
In Eastry, what are the deprivation levels like?
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 Eastry is 22%.
How much do people in Eastry earn?
While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.
£44,100 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 28% for Eastry.
In Eastry, what is the social grade score?
In the city of Eastry, the social grade score of the area is 28%. 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 Eastry.
|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 Eastry, what do houses for sale tend to sell for?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Eastry. In Eastry, this sale price works out to be £311,334. As an example, a factor like population growth over the last 10 years which works out to be 7% in Eastry and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£439,624|
|Average sold price (semi-detached)||£277,876|
|Average sold price (terraced)||£282,835|
|Average sold price (flat)||£209,745|
Above, the exact type of house is also shown to vary in price in a table in Eastry. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£3,180|
|Average sold price/sqft (new build)||£2,830|
|Average sold price/sqft (old stock)||£3,010|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Eastry which is £3,180. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Always consider average rental yield when searching for houses for sale in Eastry
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Eastry.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Kent) as well as the broader region; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Eastry||no relevant data for this city||no relevant data for this city||no relevant data for this city||15.0%|
Also, you can compare other data to the table above such as the number of houses sold per month in Eastry which is 7 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Eastry is to invest in. Both in terms of rental yield and capital appreciation.
Are there new houses being built in Eastry to make it grow?
The growth of an area like Eastry 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|
|Eastry growth rate||6%||14%||12%|
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 Eastry if you want to find out the exact reasons for the housing change.