Andover 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 Hampshire.
Before looking for a house for sale in the city of Andover 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 Andover.
What are the demographics like in the city of Andover?
In the city of Andover, 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 Hampshire for example.
These demographics for Andover 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 Andover in South West.
Are the people in Andover earning a lot?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (21%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Andover, this works out to be £49,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Have the people of Andover grown in numbers?
In total, the number of people in Andover is 40,475. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Andover, depending on where exactly you are.
How has Andover changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Andover has changed by 5%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 5% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Andover?
10% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Andover have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
What is the city of Andover’s 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 Andover 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 Andover, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 21%.
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 |
In Andover, what are the deprivation levels like?
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 Andover is 20% 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.
Do the people of Andover 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 Andover currently has 8.1 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 Andover in this case.
How educated are the people in Andover?
In the city of Andover, 20% 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 Andover is £49,000. 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 crime rate bad in the city of Andover?
Within Andover, the number of people committing crimes is 110 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 110 figure carefully.
In general, what do houses for sale sell for in Andover?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Andover. In Andover, this sale price works out to be £262,509. As an example, a factor like population growth over the last 10 years which works out to be 10% in Andover and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £388,859 |
| Average sold price (semi-detached) | £269,663 |
| Average sold price (terraced) | £220,105 |
| Average sold price (flat) | £154,069 |
Above, the exact type of house is also shown to vary in price in a table in Andover. 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 | £2,910 |
| Average sold price/sqft (new build) | £3,480 |
| Average sold price/sqft (old stock) | £2,840 |
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 Andover which is £2,910. 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.
What is the asking price on average of houses for sale in Andover?
Average price of houses for sale in Andover
| Average asking price (1 bed) | £150,833 |
| Average asking price (2 bed) | £238,731 |
| Average asking price (3 bed) | £312,261 |
| Average asking price (4 bed) | £483,095 |
| 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 Andover is the right area to buy a house in for you.
On average, in Andover, the asking price for a house for sale in the area is £305,335.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Andover. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
In Andover, what are the rental yields?
What is the growth in the housing market of Andover?
Whenever you are thinking about looking for houses for sale in Andover, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Andover growth rate | -1% | 6% | 9% |
As the population of Andover grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
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 Andover, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South West. As well as Hampshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Andover | 3.5% | £882 | 132% | 32.0% |
| Hampshire | 3.67% | £1,199 | 129.21% | 20.71% |
| South West | 3.57% | £1,079 | 132.66% | 17.35% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Andover you might be interested in the number of sales per month (29) that happen in the local housing market. Comparing this figure for Andover with the above table gives you a good understanding of the profitability of the area.
Invest in houses for sale in Andover with the right professional advice
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 Andover.
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Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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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
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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.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
houses for sale in other cities in the UK
We have prepared a list of cities in South West, the same UK region of Andover that can help you evaluate the different houses for sale listed in the region:
- East-Lambrook in South West
- Budleigh-Salterton in South West
- Berry-Hill in South West
- Bridford in South West
- Bishopsteignton in South West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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