As a landlord, whenever you are looking at houses for sale in Gloucestershire, you could find varying prices throughout an area like Great Barrington. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Great Barrington to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Great Barrington will be revealed. Keep reading.
What are the asking prices for the houses for sale in the city of Great Barrington?
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|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £3,700. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Great Barrington has a lack of supply of housing in certain categories.
When speaking about the city of Great Barrington, £411,222 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 Great Barrington.
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.
Are there any important statistics about the population of Great Barrington?
How educated are the people in Great Barrington?
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.
How much do people in Great Barrington earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £55,700.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Great Barrington this figure is 23%.
Are the deprivation levels of the UK any different to Great Barrington?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Great Barrington is 15% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
Is the crime rate bad in the city of Great Barrington?
The crime rate of Great Barrington 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 50, 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 (50) is both useful and is recommended to be compared to the average.
How much green space is available to residents of Great Barrington?
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.
In Great Barrington, what is the social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Great Barrington, the percentage of people in the two highest categories, A and B is 23%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £55,700. This income will generally get bigger as the percentage of people in the A and B categories go up too (23%).
In the city of Great Barrington, 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 Gloucestershire for example.
These demographics for Great Barrington 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 Great Barrington in South East.
In Great Barrington, how has the population changed?
The city of Great Barrington has a total population of 25,191. 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 Great Barrington 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 Great Barrington
Over time, in the last five years, the population of the city of Great Barrington has changed by 3%. 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 3% 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 Great Barrington?
In the last 10 years, there has been a shift in the population of 7%.
Comparing this to the 5 year figure of Great Barrington 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 Great Barrington?
What is the growth in the housing market of Great Barrington?
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.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Great Barrington. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Great Barrington.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Gloucestershire), a regional level (South East) and finally on the level of the city talked about in this article, Great Barrington.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Great Barrington experiences. This figure for house sales per month is 15. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
In Great Barrington, 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 Great Barrington. In Great Barrington, this sale price works out to be £321,165. As an example, a factor like population growth over the last 10 years which works out to be 7% in Great Barrington and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£450,964|
|Average sold price (semi-detached)||£298,054|
|Average sold price (terraced)||£262,604|
|Average sold price (flat)||£169,071|
Above, the exact type of house is also shown to vary in price in a table in Great Barrington. 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||£3,240|
|Average sold price/sqft (new build)||£3,230|
|Average sold price/sqft (old stock)||£3,180|
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 Great Barrington which is £3,470. 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.