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How much does a house for sale cost in Cheltenham?

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 Cheltenham?

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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 Cheltenham, Gloucestershire.

From the average asking price of houses for sale in Cheltenham, to the growth of the population in the area, all will be talked about regarding the city of Cheltenham. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

Finding the ideal house for sale for you

What parameters impact the final price of a house for sale in Cheltenham?
Here below is our list with the most important ones:

  • House for sale affordability – check out the (see house affordability guide)

    on the UK gov website to know more

  • House Location – the actual location of a house for sale drastically changes the final price of a property

  • Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

  • Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

  • Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

  • Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

  • Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

  • Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

  • Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

Why you should consider the 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. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.

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 into 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 £0 £1,061 £1 £0
Gloucestershire 3.43% £1,097.53 129.75% 16.64%
South West 0.04 1,078.69 £1 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 17 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.

What is the growth in the housing market of Cheltenham?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Cheltenham at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Cheltenham growth rate -1% 9% 21%

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Cheltenham gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Cheltenham.

House for sale in a different UK region

If you are looking for a list of cities that are different to the City of Cheltenham and in different UK region to South West. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

What is the final sale price of a house in Cheltenham?

In Cheltenham, the average sale price of a house for sale is in fact £367,570. This is dependent on the 10 year population growth of Cheltenham being 2%. Growing populations are more likely to inflate the prices of houses for sale in the city of Cheltenham.

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 list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in 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

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £3,645. This means if you are just looking out the houses sold in Cheltenham in general and didn’t take into consideration the type of build. For example, a new build.

Who can help you buy a house for sale in Cheltenham?

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

What are the demographics like in the city of Cheltenham?

In Cheltenham, how educated are people in general?

In the city of Cheltenham, 44% 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 Cheltenham is £46,350.00. 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.

Cheltenham in the county of Gloucestershire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Cheltenham is located in; South West.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Cheltenham, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

In the city of Cheltenham, how much green space remains for residents?

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 Cheltenham, 19 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 Cheltenham.

What is the social grade score of 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 £46,350.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (38%).

Have the people of Cheltenham grown in numbers?

In total, the number of people in Cheltenham is 42616. 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 Cheltenham, depending on where exactly you are.

How has Cheltenham 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 Cheltenham has changed by -1%. 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 -1% 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 Cheltenham?

2% 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 Cheltenham 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.

Are the deprivation levels of the UK any different to Cheltenham?

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 Cheltenham is £0 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.

In Cheltenham, what is the crime rate?

Within Cheltenham, the number of people committing crimes is 13100% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 13100% figure carefully.

How much do people in Cheltenham 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 (38%). 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 Cheltenham, this works out to be £46,350.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

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

The average asking price for the houses for sale in the city of 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

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Cheltenham 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.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Cheltenham is £468,323.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Cheltenham is useful when negotiating and knowing what to expect for every type of house for sale.

F.A.Q.

Do properties in Cheltenham have the potential for renovation?

Amidst the urban landscape of Cheltenham, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 12 and on the other hand, there is a planning success rate of 95%. It is also useful to take into consideration the population size of the area (42616).

On a monthly basis, how many property transactions take place in Cheltenham?

In Cheltenham, the monthly property transaction count reaches 17, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

What is the population change each year in a city like Cheltenham?

When evaluating the population trajectory of Cheltenham, explore the decade-spanning population shift of 2% and the five-year modification of population of -1%. By drawing comparisons, see if demographic changes in your chosen area is

In the larger vicinity of Cheltenham, what is the cost of houses available for sale?

The average asking price of a house in Cheltenham is currently £0 based on the average price per square foot.

Is a house for sale in Cheltenham an expensive choice?

To work out if you are looking at an expensive property, find a house for sale and compare it to the average prices sell for. In Cheltenham this number is £367,570 and in the average for the UK is £286,500. Also, make sure you don’t miss a crucial step by following our tutorial when buying a house

Buying a Home? Find Top-Rated Estate Agents in Cheltenham

If you’re purchasing property in Cheltenham? The right estate agent can make all the difference in guiding you through the home buying process. We understand how stressful and time-consuming finding an agent can be so we’ve compiled a list of the highest-rated real estate agencies in the area below. Our goal is to simplify your search and take you straight to reputable agents equipped to help buy your ideal home.

Name of the Agent Phone Number Address Email Address
Elliot Oliver Sales and Lettings 441242354927 101 Promenade, Cheltenham, GL50 1NW Phone number only
Charles Lear 441242354033 103 Promenade, Cheltenham, GL50 1NW Phone number only
Errington Smith Town and Village Properties, Residential Sales, Lettings and Property Management 441242354099 107 Promenade, Cheltenham, GL50 1NW nan
Hughes Sealey 441242393943 113 Promenade, Cheltenham, GL50 1NW Phone number only
Elliot Oliver nan 101 Promenade Oliver Bishop (oliver@elliotoliver.co.uk)

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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