How much will you pay for a house for sale in Dorchester?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the South West $ How much will you pay for a house for sale in Dorchester?

Whenever looking for a house for sale in the UK or in Dorchester, it is vital you look at the market trends and house price fluctuations in the wider area of Dorset 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 Dorchester.

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

In Dorchester, what are the demographics like?

In Dorchester, how has the population changed?

Population growth in Dorchester is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Dorchester, 18,931 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Dorchester in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Dorchester, this change has been 2%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 2%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Dorchester?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 4% in Dorchester.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

For the city of Dorchester, what is the education level?

In Dorchester, the proportion of people who have a degree is 32%. 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 Dorchester is £43,500.

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.

Is the city of Dorchester deprived?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 20% for Dorchester should give you a nice idea of the deprivation in the area.

In general, do people commit a lot of crime in Dorchester?

For every one thousand people living in Dorchester, 93 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 93 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.

What’s a social grade score and how does it relate to Dorchester?

In the city of Dorchester and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Dorchester has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 25%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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

The city of Dorchester, situated in Dorset, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Dorchester and its demographics will be compared to its wider location (South West). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Dorchester. So, taking a good look at the data is essential to understand the area you are considering to buy in.

How much do people in Dorchester earn?

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 £43,500.

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 Dorchester this figure is 25%.

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

In the city of Dorchester, there are 6.8 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 Dorchester is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What’s the rental yield in general for the city of Dorchester?

Are there new houses being built in Dorchester to make it grow?

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 Dorchester at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Dorchester growth rate -1% 8% 13%

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 Dorchester 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 Dorchester.

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 Dorchester.

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 (Dorset) as well as the broader region; South West.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Dorchester 3.4% £1,058 87% 18.0%
Dorset 3.57% £1,197 122.31% 16.70%
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 Dorchester which is 20 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 Dorchester is to invest in. Both in terms of rental yield and capital appreciation.

What are the asking prices for the houses for sale in the city of Dorchester?

When investors make offers for houses for sale in Dorchester, the average price asked by the homeowners works out to be £378,697.

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 Dorchester 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.

Table showing the asking prices for houses for sale in Dorchester

Average asking price (1 bed) £167,625
Average asking price (2 bed) £300,857
Average asking price (3 bed) £383,786
Average asking price (4 bed) £618,182
Average asking price (5 bed) no relevant data for this city

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

In general, what do houses for sale sell for in Dorchester?

As well as looking at the asking price for house for sale in Dorchester, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Dorchester.

Houses for sale, are sold on average in Dorchester, after the influence of these factors, at £297,788 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 4% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £462,990
Aerage sold price (semi-detached) £335,488
Aerage sold price (terraced) £284,481
Aerage sold price (flat) £210,129

This table above shows the average sale price for each variation of houses for sale in Dorchester.

Housing category Sale price per square foot
Aerage sold price/sqft £3,120
Aerage sold price/sqft (new build) £3,260
Aerage sold price/sqft (old stock) £2,990

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Dorchester is £3,120.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.