Whenever looking for a house for sale in the UK or in Bude, it is vital you look at the market trends and house price fluctuations in the wider area of Cornwall 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 Bude.
In this article, we will be looking at the city of Bude in detail so you know how to navigate the area and have a better understanding on where to invest.
What is the final sale price of a house in Bude?
For the city of Bude, the average price a house sells for is £309,315. This value usually depends on the exact location of the house within Bude as well as other factors like the population growth in Bude which is 8% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £365,590 |
| Aerage sold price (semi-detached) | £251,059 |
| Aerage sold price (terraced) | £215,560 |
| Aerage sold price (flat) | £193,884 |
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 Bude.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,950 |
| Aerage sold price/sqft (new build) | £2,920 |
| Aerage sold price/sqft (old stock) | £2,800 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,950. This value averages all of the types of houses for sale in Bude. 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 Bude.
What are the demographics like in the city of Bude?
What’s a social grade score and how does it relate to Bude?
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 Bude 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 Bude, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 17%.
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 |
Located in Cornwall is the city of Bude, 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 Bude 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 Bude 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.
In the city of Bude, is there a lot of green space?
In the city of Bude, there are 15.8 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 Bude is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Is the education level of Bude important when buying a house?
Interestingly, the percentage of people who have a degree in the city of Bude is 23%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Bude is £34,700.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
In Bude, how has the population changed?
In total, the number of people in Bude is 15,617. 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 Bude, depending on where exactly you are.
How has Bude 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 Bude has changed by 4%. 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 4% 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 Bude?
8% 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 Bude 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.
How much do people in Bude earn?
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.
£34,700 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 17% for Bude.
Is the city of Bude 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 Bude, in particular, the deprivation levels are 25%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What’s crime like in Bude?
For the city of Bude, crime rate is at 54. So for every 1000 people in the area, 54 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.
On average, what is the figure for the asking price of a house for sale in Bude?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Bude determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £420,734.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Bude.
The average asking price for the houses for sale in the city of Bude
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £277,425 |
| Average asking price (3 bed) | £406,896 |
| Average asking price (4 bed) | £579,250 |
| Average asking price (5 bed) | no relevant data for this city |
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Bude has a lack of supply of housing in certain categories.
What’s the rental yield in general for the city of Bude?
In Bude, how has the number of houses changed?
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 Bude that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Bude growth rate | -4% | 14% | 23% |
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 Bude is important.
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 Bude, 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 Cornwall, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bude | 3.0% | £1,065 | 140% | 8.0% |
| Cornwall | 3.46% | £950 | 116.50% | 13.34% |
| 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 Bude you might be interested in the number of sales per month (15) that happen in the local housing market. Comparing this figure for Bude with the above table gives you a good understanding of the profitability of the area.
Advice from experts on properties for sale in Bude
A house for sale that is right for you
Many criteria impact the price of houses for sale in Bude.
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
Below are a list of towns with a similar location to Bude.
Reading these analysis will help you evaluate the different houses for sale currently listed in South West:
- Barripper in South West
- Laverstock in South West
- Bowden in South West
- Alderholt in South West
- Adlestrop in South West
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
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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