Whenever looking for a house for sale in the UK or in Farnborough, it is vital you look at the market trends and house price fluctuations in the wider area of Berkshire 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 Farnborough.
In this article, we will be looking at the city of Farnborough in detail so you know how to navigate the area and have a better understanding on where to invest.
What’s the rental yield in general for the city of Farnborough?
Are there new houses being built in Farnborough to make it grow?
The growth of an area like Farnborough 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|
|Farnborough growth rate||9%||12%||11%|
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 Farnborough if you want to find out the exact reasons for the housing change.
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 Farnborough to Berkshire and the broader suburb of the UK; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Farnborough for profit in the future, in this case, looking at the data for the number of houses sold per month in Farnborough would give you an idea of whether the area is actively getting new investors. This figure is 23.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Farnborough. 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 are the demographics like in the city of Farnborough?
What is the social grade score of Farnborough?
In the city of Farnborough, the social grade score of the area is 33%. 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 Farnborough.
|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 Farnborough, how has the population changed?
The city of Farnborough has a total population of 25,199. 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 Farnborough 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 Farnborough
Over time, in the last five years, the population of the city of Farnborough has changed by 9%. 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 9% 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 Farnborough?
In the last 10 years, there has been a shift in the population of 14%.
Comparing this to the 5 year figure of Farnborough 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 deprived is the population of Farnborough?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Farnborough, currently, 15% 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 Farnborough?
Whether you view green space in Farnborough 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 Farnborough, the number of acres of green space for every 1000 people currently is 7.6 which can be measured against the UK average of 1.7.
Is the education level of Farnborough important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Farnborough is 33%. 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 Farnborough is £57,600.
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.
Farnborough within Berkshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Farnborough 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 Farnborough.
Are the people in Farnborough 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 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.
In Farnborough, what is the crime rate?
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.
What is the final sale price of a house 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 in Farnborough 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.
Asking price in Farnborough for a house for sale
In the city of Farnborough, what is the average asking price for the houses for sale?
|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|
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£3,680) for houses for sale with this table to get a good idea as to whether Farnborough is the right area to buy a house in for you.
When speaking about the city of Farnborough, £419,131 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Farnborough.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Professional advice for houses for sale in Farnborough
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 Farnborough.
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.
Thinking about 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 Farnborough:
- Brenzett in South East
- Fulflood in South East
- Four-Throws in South East
- Badlesmere in South East
- Ashe in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.
Here is a list of who to contact to get assistance when purchasing a house for sale:
- Banks – The ones that can lend you the money you need for the house for sale
- Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
- Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
- Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
- Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
- EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.