Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Babcary, Somerset.
From the average asking price of houses for sale in Babcary to the growth of the population in the area, all will be talked about regarding the city of Babcary. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
How are rental yields of the houses for sale different to the rest of the UK in Babcary?
Are there new houses being built in Babcary to make it grow?
The growth of an area like Babcary 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 | |
|---|---|---|---|
| Babcary growth rate | -4% | 16% | 31% |
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 Babcary if you want to find out the exact reasons for the housing change.
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 Babcary, 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 Somerset, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Babcary | no relevant data for this city | no relevant data for this city | no relevant data for this city | 26.0% |
| Somerset | 3.77% | £1,175 | 138.81% | 20.04% |
| 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 Babcary you might be interested in the number of sales per month (9) that happen in the local housing market. Comparing this figure for Babcary with the above table gives you a good understanding of the profitability of the area.
In general, what do houses for sale sell for in Babcary?
In Babcary, houses for sale are sold at an average of £329,767. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Babcary. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £405,068 |
| Aerage sold price (semi-detached) | £245,852 |
| Aerage sold price (terraced) | £235,027 |
| Aerage sold price (flat) | £141,982 |
As you can see above, for Babcary, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 5% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,750 |
| Aerage sold price/sqft (new build) | £2,820 |
| Aerage sold price/sqft (old stock) | £2,620 |
Looking at the second table about Babcary, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Babcary is £2,750.
In Babcary, what is the asking price in general for a house for sale?
When speaking about the city of Babcary, £421,937 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 Babcary.
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.
Average asking prices for houses for sale in Babcary
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | no relevant data for this city |
| Average asking price (3 bed) | £383,708 |
| Average asking price (4 bed) | £558,118 |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Babcary and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
Are there any important statistics about the population of Babcary?
In Babcary, what is the social grade score?
In the city of Babcary and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Babcary has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 25%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| 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 |
What’s crime like in Babcary?
In Babcary, for every 1000 people, there is currently a crime rate of 51. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (51 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In the city of Babcary, 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 Somerset for example.
These demographics for Babcary 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 Babcary in South West.
In the city of Babcary, has the population grown or shrunk?
The city of Babcary has a total population of 9,093. 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 Babcary 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 Babcary
Over time, in the last five years, the population of the city of Babcary has changed by 2%. 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 2% 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 Babcary?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Babcary 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.
For the city of Babcary, what is the education level?
In the city of Babcary, 31% 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 Babcary is £41,500. 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 Babcary deprived?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 18% for Babcary should give you a nice idea of the deprivation in the area.
How much do people in Babcary 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 Babcary. Compare the area’s average household income of £41,500 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 25% for more conclusive data on the affluence of the area.
Do the people of Babcary get to enjoy green space?
Whether you view green space in Babcary 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 Babcary, the number of acres of green space for every 1000 people currently is 27.1 which can be measured against the UK average of 1.7.
Invest in houses for sale in Babcary with the right professional advice
Other cities you can consider looking for with houses for sale
Examine this short list of cities belonging to South West, the same region where Babcary is located.
- Barton-End in South West
- Bodinnick in South West
- Drakeland-Corner in South West
- Ashburton in South West
- Affpuddle in South West
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Babcary
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
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Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
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Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
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EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
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Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
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Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
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Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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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.
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.
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