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 Byton, Herefordshire.
From the average asking price of houses for sale in Byton to the growth of the population in the area, all will be talked about regarding the city of Byton. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What are the people like in Byton?
How much do people in Byton 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 (18%). 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 Byton, this works out to be £32,500. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Are the people of Byton deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Byton is 23%.
For the city of Byton, what is the education level?
The number of people as a percentage who have been through university and gained a degree is 26%. The ability to buy a home is greatly influenced by the number of people who have degrees. £32,500 is the amount people in Byton are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Byton, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In Byton, what is the 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 Byton, the percentage of people in the two highest categories, A and B is 18%. 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 £32,500. This income will generally get bigger as the percentage of people in the A and B categories go up too (18%).
What’s the crime rate in Byton?
In Byton, for every 1000 people, there is currently a crime rate of 51. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (51 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In the city of Byton, is there a lot of green space?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Byton currently has 12.6 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Byton in this case.
Byton within Herefordshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Byton will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Wales). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Byton.
In the city of Byton, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Byton if 4,404 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Byton such as rental yield or house appreciation.
How has the population size of Byton adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Byton by 1%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 1% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Byton?
In the last decade, the population of Byton has been adjusted by 1%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
In Byton, what is the asking price in general for a house for sale?
When investors make offers for houses for sale in Byton, the average price asked by the homeowners works out to be £339,284.
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 Byton 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.
The average asking price for the houses for sale in the city of Byton
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £219,500 |
| Average asking price (3 bed) | £318,269 |
| Average asking price (4 bed) | no relevant data for this city |
| 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 in terms of the house asking price, the average asking price for the house for sale in the whole of Byton is £0. This should show you the general prices overall and for individual types of houses too.
How are rental yields of the houses for sale different to the rest of the UK in Byton?
What is the growth in the housing market of Byton?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Byton that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Byton growth rate | -2% | 11% | 18% |
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Byton is important.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Byton this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (Wales) alongside Herefordshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Byton.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Byton | no relevant data for this city | no relevant data for this city | no relevant data for this city | 14.0% |
| Herefordshire | 2.86% | £835 | 134.25% | 13.39% |
| Wales | 4.28% | £861 | 133.18% | 14.84% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Byton.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (4) will be useful.
What is the final sale price of a house in Byton?
In Byton, houses for sale are sold at an average of £229,595. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Byton. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £272,793 |
| Aerage sold price (semi-detached) | £177,483 |
| Aerage sold price (terraced) | £164,610 |
| Aerage sold price (flat) | no relevant data for this city |
As you can see above, for Byton, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 1% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,210 |
| Aerage sold price/sqft (new build) | £2,490 |
| Aerage sold price/sqft (old stock) | £2,120 |
Looking at the second table about Byton, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Byton is £2,210.
Advice from experts on properties for sale in Byton
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
Thinking about other cities with houses for sale?
We have prepared a list of cities in Wales, the same UK region of Byton that can help you evaluate the different houses for sale listed in the region:
- Abernant in Wales
- Aberyscir in Wales
- Blaenllechau in Wales
- Byton in Wales
- Deganwy in Wales
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
A house for sale that is right for you
Many criteria impact the price of houses for sale in Byton.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
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