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A guide on houses for sale in Barrow

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ A guide on houses for sale in Barrow

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

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

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

In Barrow, how has the number of houses changed?

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 Barrow that shows the growth in recent years.

1 year 3 years 5 years
Barrow growth rate 4% 13% 20%

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 Barrow is important.

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 Barrow to Shropshire and the broader suburb of the UK; West Midlands.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Barrow 3.6% £845 140% 13.0%
Shropshire 3.41% £778 123.75% 14.71%
West Midlands 3.89% £877 119.29% 20.00%

Let’s assume you want to sell the house you’re looking to buy in Barrow for profit in the future, in this case, looking at the data for the number of houses sold per month in Barrow would give you an idea of whether the area is actively getting new investors. This figure is 47.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Barrow. 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.

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

For the city of Barrow, the average price a house sells for is £268,837. This value usually depends on the exact location of the house within Barrow as well as other factors like the population growth in Barrow which is 6% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £352,320
Aerage sold price (semi-detached) £224,439
Aerage sold price (terraced) £186,367
Aerage sold price (flat) £115,496

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Barrow.

Housing category Sale price per square foot
Aerage sold price/sqft £2,540
Aerage sold price/sqft (new build) £2,585
Aerage sold price/sqft (old stock) £2,425

Generalising the bottom table, the average value per square foot of a house for sale is £2,540. This value averages all of the types of houses for sale in Barrow. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Barrow.

On average, what is the figure for the asking price of a house for sale in Barrow?

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Barrow determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £347,550.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Barrow.

In the city of Barrow, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £251,443
Average asking price (3 bed) £324,267
Average asking price (4 bed) £502,398
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 Barrow has a lack of supply of housing in certain categories.

What are the demographics like in the city of Barrow?

In the city of Barrow, 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 Shropshire for example.

These demographics for Barrow 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 Barrow in West Midlands.

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

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 Barrow should give you a nice idea of the deprivation in the area.

How much do people in Barrow earn?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£42,900 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 26% for Barrow.

In Barrow, what is the social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.

The number of people in Barrow in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £42,900 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 26%.

What is the education level like in Barrow?

In Barrow, the proportion of people who have a degree is 28%. 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 Barrow is £42,900.

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 there sufficient green space in Barrow?

Whether you view green space in Barrow as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Barrow, the number of acres of green space for every 1000 people currently is 28.2 which can be measured against the UK average of 1.7.

What does the population of Barrow look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Barrow if 53,020 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 Barrow such as rental yield or house appreciation.

How has the population size of Barrow adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Barrow by 3%. 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 3% 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 Barrow?

In the last decade, the population of Barrow has been adjusted by 6%. 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 general, do people commit a lot of crime in Barrow?

The crime rate of Barrow 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 59, 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 (59) is both useful and is recommended to be compared to the average.

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

Finding the ideal house for sale for you

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 Barrow.

  • 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.

Other cities you can consider looking for with houses for sale

See here below a list of cities in the same UK region of Barrow which is West Midlands. 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 – houses for sale in the UK.

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

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