Great Barrington might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Gloucestershire.
Before looking for a house for sale in the city of Great Barrington we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Great Barrington.
House for sale in the same UK region
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 Great Barrington:
- Blendworth in South East
- Eastchurch in South East
- Aspley-Guise in South East
- Binfield in South East
- Isle-Of-Wight in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
What kind of demographics does the city of Great Barrington have?
Are the deprivation levels of the UK any different to Great Barrington?
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 Great Barrington is 15%.
In the city of Great Barrington, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Great Barrington if 25,191 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Great Barrington such as rental yield or house appreciation.
How has the population size of Great Barrington adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Great Barrington by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Great Barrington?
In the last decade, the population of Great Barrington has been adjusted by 7%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
The city of Great Barrington, situated in Gloucestershire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Great Barrington and its demographics will be compared to its wider location (South East). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Great Barrington. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How much do people in Great Barrington earn?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Great Barrington. Compare the area’s average household income of £55,700 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 23% for more conclusive data on the affluence of the area.
What is the city of Great Barrington’s 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 Great Barrington in grades A or B which are the highest skilled roles in the country is 23%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £55,700 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 23%.
Do the people of Great Barrington get to enjoy green space?
Whether you view green space in Great Barrington 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 Great Barrington, the number of acres of green space for every 1000 people currently is 12.5 which can be measured against the UK average of 1.7.
What’s the crime rate in Great Barrington?
For the city of Great Barrington, crime rate is at 50. So for every 1000 people in the area, 50 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.
For the city of Great Barrington, what is the education level?
In the city of Great Barrington, 28% 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 Great Barrington is £55,700. 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.
Invest in a house for sale that meets your demands
When browsing houses for sale in Great Barrington you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
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House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
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Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
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energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
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Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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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.
Asking price in Great Barrington for a house for sale
When investors make offers for houses for sale in Great Barrington, the average price asked by the homeowners works out to be £411,222.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Great Barrington is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Table showing the asking prices for houses for sale in Great Barrington
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £271,250 |
| Average asking price (3 bed) | £379,550 |
| Average asking price (4 bed) | £524,927 |
| Average asking price (5 bed) | £1,065,750 |
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 (£3,700) for houses for sale with this table to get a good idea as to whether Great Barrington is the right area to buy a house in for you.
In Great Barrington, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Great Barrington, 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 Great Barrington.
Houses for sale, are sold on average in Great Barrington, after the influence of these factors, at £321,165 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 7% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £450,964 |
| Aerage sold price (semi-detached) | £298,054 |
| Aerage sold price (terraced) | £262,604 |
| Aerage sold price (flat) | £169,071 |
This table above shows the average sale price for each variation of houses for sale in Great Barrington.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,240 |
| Aerage sold price/sqft (new build) | £3,230 |
| Aerage sold price/sqft (old stock) | £3,180 |
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 Great Barrington is £3,470.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Advice from experts on properties for sale in Great Barrington
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
How are rental yields of the houses for sale different to the rest of the UK in Great Barrington?
Are there new houses being built in Great Barrington 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 Great Barrington that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Great Barrington growth rate | no relevant data for this city | 8% | 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 Great Barrington is important.
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 Great Barrington.
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 (Gloucestershire) as well as the broader region; South East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Great Barrington | 3.3% | £1,134 | 132% | 15.0% |
| Gloucestershire | 3.43% | £1,098 | 129.75% | 16.64% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
Also, you can compare other data to the table above such as the number of houses sold per month in Great Barrington which is 15 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 Great Barrington is to invest in. Both in terms of rental yield and capital appreciation.
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