How much does a house for sale cost in Berkley?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the South West $ How much does a house for sale cost in Berkley?

Whenever looking for a house for sale in the UK or in Berkley, it is vital you look at the market trends and house price fluctuations in the wider area of Somerset too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Berkley.

In this article, we will be looking at the city of Berkley in detail so you know how to navigate the area and have a better understanding on where to invest.

What kind of demographics does the city of Berkley have?

What is the population of Berkley?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Berkley if 32,599 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 Berkley such as rental yield or house appreciation.

How has the population size of Berkley adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Berkley by 4%. 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 4% 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 Berkley?

In the last decade, the population of Berkley has been adjusted by 7%. 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.

Berkley within Somerset is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Berkley will be looked at by comparing it to the local region, as well as comparing it to the wider region too (South West). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Berkley.

What salary does the community in Berkley take home?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£42,200 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 22% for Berkley.

What’s the crime rate in Berkley?

The crime rate of Berkley 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 71, 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 (71) is both useful and is recommended to be compared to the average.

Is the education level of Berkley important when buying a house?

The number of people as a percentage who have been through university and gained a degree is 27%. The ability to buy a home is greatly influenced by the number of people who have degrees. £42,200 is the amount people in Berkley are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Berkley, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

What is the social grade score of Berkley?

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 Berkley, the percentage of people in the two highest categories, A and B is 22%. 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 £42,200. This income will generally get bigger as the percentage of people in the A and B categories go up too (22%).

In the city of Berkley, is there a lot of green space?

Whether you view green space in Berkley 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 Berkley, the number of acres of green space for every 1000 people currently is 8.7 which can be measured against the UK average of 1.7.

In Berkley, what are the deprivation levels like?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Berkley is 21%.

In Berkley, what do houses for sale tend to sell for?

In Berkley, houses for sale are sold at an average of £299,459. 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 Berkley. 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) £399,947
Aerage sold price (semi-detached) £273,520
Aerage sold price (terraced) £254,663
Aerage sold price (flat) £145,398

As you can see above, for Berkley, 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 7% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £3,060
Aerage sold price/sqft (new build) £2,830
Aerage sold price/sqft (old stock) £3,010

Looking at the second table about Berkley, 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 Berkley is £3,450.

In Berkley, what is the asking price in general for a house for sale?

Average price of houses for sale in Berkley

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £271,748
Average asking price (3 bed) £379,062
Average asking price (4 bed) £544,402
Average asking price (5 bed) £815,000

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 (£3,840) for houses for sale with this table to get a good idea as to whether Berkley is the right area to buy a house in for you.

When investors make offers for houses for sale in Berkley, the average price asked by the homeowners works out to be £397,257.

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 Berkley 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.

How are rental yields of the houses for sale different to the rest of the UK in Berkley?

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Berkley to Somerset and the broader suburb of the UK; South West.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Berkley 3.4% £1,134 140% 19.0%
Somerset 3.77% £1,175 138.81% 20.04%
South West 3.57% £1,079 132.66% 17.35%

Let’s assume you want to sell the house you’re looking to buy in Berkley for profit in the future, in this case, looking at the data for the number of houses sold per month in Berkley would give you an idea of whether the area is actively getting new investors. This figure is 27.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Berkley. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

Are there more or fewer houses being built in Berkley?

The growth of an area like Berkley 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
Berkley growth rate 2% 23% 29%

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 Berkley if you want to find out the exact reasons for the housing change.