Cheltenham can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Cheltenham.
On top of this, keep reading for detailed information on the demographics of Cheltenham in Gloucestershire. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.
In Cheltenham, what do houses for sale tend to sell for?
For the city of Cheltenham, the average price a house sells for is £367,570. This value usually depends on the exact location of the house within Cheltenham as well as other factors like the population growth which is 2% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £571,728 |
| Aerage sold price (semi-detached) | £372,830 |
| Aerage sold price (terraced) | £313,222 |
| Aerage sold price (flat) | £213,408 |
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 Cheltenham.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,645 |
| Aerage sold price/sqft (new build) | £4,145 |
| Aerage sold price/sqft (old stock) | £3,525 |
Generalising the bottom table, the average value per square foot of a house for sale is £3,645. This value averages all of the types of houses for sale in Cheltenham. 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 Cheltenham.
Other cities in different locations you can consider to buy property
You can consult our list below that goes over a list of cities not necessarily in South West, allowing you to find similar places to Cheltenham:
- Adwalton in South West
- Byers Green in South West
- Boston in South West
- Blackbrook in South West
- Aldershot in South West
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
What are the people like in Cheltenham?
How much are those living in Cheltenham earning?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £46,350.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Cheltenham this figure is 38%.
In the city of Cheltenham, has the population grown or shrunk?
The city of Cheltenham has a total population of 42,616. 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 Cheltenham 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 Cheltenham
Over time, in the last five years, the population of the city of Cheltenham has changed by -1%. 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 -1% 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 Cheltenham?
In the last 10 years, there has been a shift in the population of 2%.
Comparing this to the 5 year figure of Cheltenham 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 is a social grade score and how does this relate to Cheltenham?
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 Cheltenham, the percentage of people in the two highest categories, A and B is 38%. 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 £46,350. This income will generally get bigger as the percentage of people in the A and B categories go up too (38%).
What’s crime like in Cheltenham?
For every one thousand people living in Cheltenham, 131 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 131 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In the city of Cheltenham, 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 Gloucestershire for example.
These demographics for Cheltenham 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 Cheltenham in South West.
For the city of Cheltenham, what is the education level?
In Cheltenham, the proportion of people who have a degree is 44%. 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 Cheltenham is £46,350.
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.
In the city of Cheltenham, how much green space remains for residents?
In the city of Cheltenham, there are 19.3 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 Cheltenham is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Are the deprivation levels of the UK any different to Cheltenham?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Cheltenham, currently, 16% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
In Cheltenham, what is the asking price in general for a house for sale?
Average price of houses for sale in Cheltenham
| Average asking price (1 bed) | £186,465 |
| Average asking price (2 bed) | £329,294 |
| Average asking price (3 bed) | £486,080 |
| Average asking price (4 bed) | £723,695 |
| Average asking price (5 bed) | £1,368,333 |
After looking at this table about prices of houses for sale in Cheltenham, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that 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 holistic understanding.
On average, in Cheltenham, the asking price for a house for sale in the area is £468,323.
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 Cheltenham. 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.
Always consider average rental yield when searching for houses for sale in Cheltenham
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Cheltenham.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Gloucestershire) as well as the broader region; South West.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Cheltenham | 2.9% | £1,061 | 140% | 17.0% |
| Gloucestershire | 3.43% | £1,098 | 129.75% | 16.64% |
| South West | 3.57% | £1,079 | 132.66% | 17.35% |
Also, you can compare other data to the table above such as the number of houses sold per month in Cheltenham which is 48 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Cheltenham is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Cheltenham?
Before committing to Cheltenham to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Cheltenham growth rate | -1% | 9% | 21% |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Cheltenham is building housing to find your answer.
Get professional help on the houses for sale in Cheltenham
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
A house for sale appropriate to your needs
When browsing houses for sale in Cheltenham you should think about lots of different criteria:
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House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
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Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
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House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
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Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
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energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
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Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
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Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
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Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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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.
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