Bala 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 Gwynedd.
Before looking for a house for sale in the city of Bala 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 Bala.
What are the people like in Bala?
What’s crime like in Bala?
The crime rate of Bala 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 79, 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 (79) is both useful and is recommended to be compared to the average.
What does the population of Bala look like?
The city of Bala has a total population of 4,136. 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 Bala 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 Bala
Over time, in the last five years, the population of the city of Bala has changed by 2%. 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 2% 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 Bala?
In the last 10 years, there has been a shift in the population of 3%.
Comparing this to the 5 year figure of Bala 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.
In the city of Bala, 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 Gwynedd for example.
These demographics for Bala 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 Bala in Wales.
How much are those living in Bala 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 £34,200.
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 Bala this figure is 16%.
Do the people of Bala get to enjoy green space?
In the city of Bala, there are 27.1 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 Bala is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Bala, how educated are people in general?
In the city of Bala, 25% 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 Bala is £34,200. 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.
Are the deprivation levels of the UK any different to Bala?
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 Bala, in particular, the deprivation levels are 24%.
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 is the social grade score of Bala?
In the city of Bala 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 Bala has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 16%.
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|
What are the asking prices for the houses for sale in the city of Bala?
Average price of houses for sale in Bala
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|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 Bala has a lack of supply of housing in certain categories.
When investors make offers for houses for sale in Bala, the average price asked by the homeowners works out to be £256,351.
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 Bala 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.
In general, what do houses for sale sell for in Bala?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Bala. In Bala, this sale price works out to be £161,648. As an example, a factor like population growth over the last 10 years which works out to be 3% in Bala and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£233,942|
|Average sold price (semi-detached)||£141,312|
|Average sold price (terraced)||£103,594|
|Average sold price (flat)||no relevant data for this city|
Above, the exact type of house is also shown to vary in price in a table in Bala. 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||£1,580|
|Average sold price/sqft (new build)||£0|
|Average sold price/sqft (old stock)||£1,490|
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 Bala which is £1,580. 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.
Why you should consider the average rental yield when searching for houses for sale in Bala
Are there new houses being built in Bala to make it grow?
Before committing to Bala 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|
|Bala growth rate||-2%||9%||19%|
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 Bala is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Bala to Gwynedd and the broader suburb of the UK; Wales.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Bala||no relevant data for this city||no relevant data for this city||no relevant data for this city||29.0%|
|Gwynedd||no relevant data for this city||no relevant data for this city||no relevant data for this city||12.00%|
Let’s assume you want to sell the house you’re looking to buy in Bala for profit in the future, in this case, looking at the data for the number of houses sold per month in Bala would give you an idea of whether the area is actively getting new investors. This figure is 4.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Bala. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
Invest in houses for sale in Bala 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
A house for sale appropriate to your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bala
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.
Are you considering other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in Wales, the same UK region as Bala:
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK