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What is it like buying a house in Herston?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the South West $ What is it like buying a house in Herston?

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Herston might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Dorset.
Before looking for a house for sale in the city of Herston we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Herston.

What kind of demographics does the city of Herston have?

How much are those living in Herston earning?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Herston. Compare the area’s average household income of £37,500.00 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 21% for more conclusive data on the affluence of the area.

What’s the crime rate in Herston?

The crime rate of Herston 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 6900%, 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 (6900%) is both useful and is recommended to be compared to the average.

Herston in the county of Dorset 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 Herston 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 Herston, 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.

What is the city of Herston’s social grade score?

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 Herston, the percentage of people in the two highest categories, A and B is 21%. 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 £37,500.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (21%).

How deprived is the population of Herston?

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 £0 for Herston should give you a nice idea of the deprivation in the area.

What is the education level like in Herston?

Interestingly, the percentage of people who have a degree in the city of Herston is 28%. 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 Herston is £37,500.00.

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.

What does the population of Herston look like?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Herston is 11316.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Herston.

In Herston, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Herston is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Herston population difference over 10 years?

The population has adjusted in the area of Herston by 4% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Herston.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

Is there sufficient green space in Herston?

In the city of Herston, there are 52 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 Herston is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Thinking of a different city and perhaps a different location?

Below is a list of towns that differ from Herston.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to South West:

If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.

Invest in houses for sale in Herston with the right professional advice

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

Always consider average rental yield when searching for houses for sale in Herston

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Herston. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Herston.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Dorset), a regional level (South West) and finally on the level of the city talked about in this article, Herston.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Herston no relevant data for this city no relevant data for this city no relevant data for this city £0
Dorset 3.57% £1,196.73 122.31% 16.70%
South West 0.04 1,078.69 £1 17.35%

You may also find it useful to compare the data above to the number of properties sold per month Herston experiences. This figure for house sales per month is 11. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

What is the growth in the housing market of Herston?

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

1 year 3 years 5 years
Herston growth rate 13% 24% 26%

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 Herston 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 Herston.

Invest in a house for sale that meets your demands

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Herston.

  • Affordability – check this article from the UK government to find out (see what house for sale you can afford)

  • Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.

  • Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.

  • Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.

  • EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.

  • Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale

  • Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month

  • Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Herston. In Herston, this sale price works out to be £354,082. As an example, a factor like population growth over the last 10 years which works out to be 4% in Herston and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £501,932
Average sold price (semi-detached) £338,931
Average sold price (terraced) £310,287
Average sold price (flat) £225,939

Above, the exact type of house is also shown to vary in price in a table in Herston. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £3,830
Average sold price/sqft (new build) £3,940
Average sold price/sqft (old stock) £3,700

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Herston which is £3,830. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

What is the asking price on average of houses for sale in Herston?

Table showing the asking prices for houses for sale in Herston

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £350,769
Average asking price (3 bed) £493,849
Average asking price (4 bed) £767,494
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Herston is £0. This should show you the general prices overall and for individual types of houses too.

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 Herston is £441,735.

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 Herston is useful when negotiating and knowing what to expect for every type of house for sale.

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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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