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 Barnstaple, Devon.
From the average asking price of houses for sale in Barnstaple to the growth of the population in the area, all will be talked about regarding the city of Barnstaple. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Why you should consider the average rental yield when searching for houses for sale in Barnstaple
Is the housing market in Barnstaple growing?
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 Barnstaple that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Barnstaple growth rate | -2% | 10% | 20% |
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 Barnstaple is important.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Barnstaple this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (South West) alongside Devon then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Barnstaple.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Barnstaple | 2.8% | £721 | no relevant data for this city | 22.0% |
| Devon | 3.48% | £949 | 131.12% | 16.20% |
| South West | 3.57% | £1,079 | 132.66% | 17.35% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Barnstaple.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (24) will be useful.
In Barnstaple, what do houses for sale tend to sell for?
For the city of Barnstaple, the average price a house sells for is £224,232. This value usually depends on the exact location of the house within Barnstaple as well as other factors like the population growth in Barnstaple which is 5% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £325,942 |
| Aerage sold price (semi-detached) | £213,945 |
| Aerage sold price (terraced) | £177,662 |
| Aerage sold price (flat) | £116,688 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Barnstaple.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,330 |
| Aerage sold price/sqft (new build) | £2,700 |
| Aerage sold price/sqft (old stock) | £2,230 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,330. This value averages all of the types of houses for sale in Barnstaple. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Barnstaple.
Asking price in Barnstaple for a house for sale
On average, in Barnstaple, the asking price for a house for sale in the area is £310,053.
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 Barnstaple. 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 the city of Barnstaple, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £210,352 |
| Average asking price (3 bed) | £286,023 |
| Average asking price (4 bed) | £484,227 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Barnstaple, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.
Are there any important statistics about the population of Barnstaple?
Are the people of Barnstaple deprived?
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 Barnstaple is 26% 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.
What is the education level like in Barnstaple?
In Barnstaple, the proportion of people who have a degree is 20%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Barnstaple is £37,600.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
How much do people in Barnstaple earn?
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 (15%). 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 Barnstaple, this works out to be £37,600. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Located in Devon is the city of Barnstaple, in a large part of the UK; South West. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Barnstaple has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Barnstaple which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What does the population of Barnstaple look like?
The city of Barnstaple has a total population of 23,896. 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 Barnstaple 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 Barnstaple
Over time, in the last five years, the population of the city of Barnstaple has changed by 4%. 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 4% 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 Barnstaple?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Barnstaple 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.
What’s the crime rate in Barnstaple?
For the city of Barnstaple, crime rate is at 91. So for every 1000 people in the area, 91 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.
Do the people of Barnstaple get to enjoy green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Barnstaple, 14.6 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Barnstaple.
In Barnstaple, what is the social grade score?
In the city of Barnstaple, the social grade score of the area is 15%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Barnstaple.
| 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 |
Advice from experts on properties for sale in Barnstaple
A house for sale that is right for you
Many criteria impact the price of houses for sale in Barnstaple.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
Other cities you can consider looking for with houses for sale
See here below a list of cities in the same UK region of Barnstaple which is South West. You might want to consider these as alternatives for your next real estate investment:
- Bewley-Common in South West
- Buckfast in South West
- Bodmin in South West
- Camelford in South West
- Broomfield in South West
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
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
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