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 Farnborough, Berkshire.
From the average asking price of houses for sale in Farnborough, to the growth of the population in the area, all will be talked about regarding the city of Farnborough. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Farnborough, what are the rental yields?
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 Farnborough, 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 Berkshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Farnborough | 3.4% | £1,186 | 140% | 14.0% |
| Berkshire | 3.60% | £1,479 | 129.52% | 16.23% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Farnborough you might be interested in the number of sales per month (23) that happen in the local housing market. Comparing this figure for Farnborough with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Farnborough?
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 Farnborough at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Farnborough growth rate | 9% | 12% | 11% |
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 Farnborough 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 Farnborough.
In general, what do houses for sale sell for in Farnborough?
For the city of Farnborough, the average price a house sells for is £331,487. This value usually depends on the exact location of the house within Farnborough as well as other factors like the population growth which is 14% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £446,091 |
| Aerage sold price (semi-detached) | £314,009 |
| Aerage sold price (terraced) | £269,050 |
| Aerage sold price (flat) | £196,092 |
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 Farnborough.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,230 |
| Aerage sold price/sqft (new build) | £3,340 |
| Aerage sold price/sqft (old stock) | £3,140 |
Generalising the bottom table, the average value per square foot of a house for sale is £3,450. This value averages all of the types of houses for sale in Farnborough. 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 Farnborough.
Finding the ideal house for sale for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Farnborough
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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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
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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?
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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.
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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.
What are the asking prices for the houses for sale in the city of Farnborough?
The average asking price for the houses for sale in the city of Farnborough
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £280,645 |
| Average asking price (3 bed) | £394,839 |
| Average asking price (4 bed) | £533,976 |
| Average asking price (5 bed) | £804,996 |
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Farnborough is £3,680. This should show you the general prices overall and for individual types of houses too.
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 Farnborough 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 £419,131.
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 Farnborough.
Are you considering other cities with houses for sale?
Examine this short list of cities belonging to South East, the same region where Farnborough is located.
- Brenzett in South East
- Fulflood in South East
- Four-Throws in South East
- Badlesmere in South East
- Ashe 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 Farnborough, what are the demographics like?
In Farnborough, how has the population changed?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Farnborough is 25,199.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Farnborough.
In Farnborough, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 9%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Farnborough is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (9%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Farnborough population difference over 10 years?
The population has adjusted in the area of Farnborough by 14% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Farnborough.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
In the city of Farnborough, 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 Berkshire for example.
These demographics for Farnborough 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 Farnborough in South East.
For the city of Farnborough, what is the education level?
In Farnborough, the proportion of people who have a degree is 33%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Farnborough is £57,600.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
How deprived is the population of Farnborough?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Farnborough, in particular, the deprivation levels are 15%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Do the people of Farnborough 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 Farnborough currently has 7.6 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 Farnborough in this case.
What’s crime like in Farnborough?
The crime rate of Farnborough 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 72, 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 (72) is both useful and is recommended to be compared to the average.
In Farnborough, 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 Farnborough in grades A or B which are the highest skilled roles in the country is 33%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £57,600 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 33%.
How much do people in Farnborough earn?
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 Farnborough, the average income is £57,600. 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 33% to decide on what the demographics are like in the area.
Advice from experts on properties for sale in Farnborough
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
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