Greatstone-on-Sea 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 Kent.
Before looking for a house for sale in the city of Greatstone-on-Sea 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 Greatstone-on-Sea.
In general, what do houses for sale sell for in Greatstone-on-Sea?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Greatstone-on-Sea. In Greatstone-on-Sea, this sale price works out to be £338,210. As an example, a factor like population growth over the last 10 years which works out to be 6% in Greatstone-on-Sea and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £382,884 |
| Average sold price (semi-detached) | £281,390 |
| Average sold price (terraced) | £241,623 |
| Average sold price (flat) | £172,398 |
Above, the exact type of house is also shown to vary in price in a table in Greatstone-on-Sea. 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 | £3,070 |
| Average sold price/sqft (new build) | £2,940 |
| Average sold price/sqft (old stock) | £2,920 |
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 Greatstone-on-Sea which is £3,070. 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.
In Greatstone-on-Sea, what are the demographics like?
How much do people in Greatstone-on-Sea 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 Greatstone-on-Sea, the average income is £38,800. 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 18% to decide on what the demographics are like in the area.
The city of Greatstone-on-Sea, situated in Kent, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Greatstone-on-Sea 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 Greatstone-on-Sea. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What is the population of Greatstone-on-Sea?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Greatstone-on-Sea if 8,645 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 Greatstone-on-Sea such as rental yield or house appreciation.
How has the population size of Greatstone-on-Sea adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Greatstone-on-Sea 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 Greatstone-on-Sea?
In the last decade, the population of Greatstone-on-Sea has been adjusted by 6%. 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.
What’s crime like in Greatstone-on-Sea?
For the city of Greatstone-on-Sea, crime rate is at 77. So for every 1000 people in the area, 77 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.
How much green space is available to residents of Greatstone-on-Sea?
In the city of Greatstone-on-Sea, there are 42.6 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Greatstone-on-Sea is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Greatstone-on-Sea, what is the social grade score?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Greatstone-on-Sea compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Greatstone-on-Sea, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 18%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| 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 |
Is the education level of Greatstone-on-Sea important when buying a house?
In the city of Greatstone-on-Sea, 18% 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 Greatstone-on-Sea is £38,800. 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.
Is the city of Greatstone-on-Sea deprived?
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 Greatstone-on-Sea, in particular, the deprivation levels are 26%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
On average, what is the figure for the asking price of a house for sale in Greatstone-on-Sea?
The average asking price for the houses for sale in the city of Greatstone-on-Sea
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £235,588 |
| Average asking price (3 bed) | £417,949 |
| Average asking price (4 bed) | £558,611 |
| Average asking price (5 bed) | no relevant data for this city |
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 (£0) for houses for sale with this table to get a good idea as to whether Greatstone-on-Sea is the right area to buy a house in for you.
When investors make offers for houses for sale in Greatstone-on-Sea, the average price asked by the homeowners works out to be £422,829.
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 Greatstone-on-Sea 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.
Get professional help on the houses for sale in Greatstone-on-Sea
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
What’s the rental yield in general for the city of Greatstone-on-Sea?
Are there new houses being built in Greatstone-on-Sea to make it grow?
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 Greatstone-on-Sea at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Greatstone-on-Sea growth rate | 6% | 12% | 26% |
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 Greatstone-on-Sea 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 Greatstone-on-Sea.
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 Greatstone-on-Sea.
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) | |
|---|---|---|---|---|
| Greatstone-on-Sea | no relevant data for this city | no relevant data for this city | no relevant data for this city | 8.0% |
| Kent | 3.63% | £1,229 | 130.16% | 16.77% |
| 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 Greatstone-on-Sea which is 9 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 Greatstone-on-Sea is to invest in. Both in terms of rental yield and capital appreciation.
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in South East, the same UK region of Greatstone-on-Sea that can help you evaluate the different houses for sale listed in the region:
- Ampthill in South East
- East-Meon in South East
- Cliftonville in South East
- Bierley in South East
- Adversane in South East
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
A house for sale appropriate to your needs
What parameters impact the final price of a house for sale in Greatstone-on-Sea?
Here below is our list with the most important ones:
-
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
-
House Location – the actual location of a house for sale drastically changes the final price of a property
-
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
-
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
-
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
-
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
-
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
-
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
-
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
Recent Comments