Whenever looking for a house for sale in the UK or in Bearwood, it is vital you look at the market trends and house price fluctuations in the wider area of West Midlands 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 Bearwood.
In this article, we will be looking at the city of Bearwood in detail so you know how to navigate the area and have a better understanding on where to invest.
On average, what is the figure for the asking price of a house for sale in Bearwood?
On average, in Bearwood, the asking price for a house for sale in the area is £206,337.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Bearwood. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Table showing the asking prices for houses for sale in Bearwood
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £169,417 |
| Average asking price (3 bed) | £207,521 |
| 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 Bearwood has a lack of supply of housing in certain categories.
In general, what do houses for sale sell for in Bearwood?
In Bearwood, houses for sale are sold at an average of £158,548. 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 Bearwood. 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) | £243,647 |
| Aerage sold price (semi-detached) | £200,151 |
| Aerage sold price (terraced) | £139,545 |
| Aerage sold price (flat) | £110,497 |
As you can see above, for Bearwood, 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 8% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,860 |
| Aerage sold price/sqft (new build) | £2,320 |
| Aerage sold price/sqft (old stock) | £1,570 |
Looking at the second table about Bearwood, 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 Bearwood is £1,860.
How are rental yields of the houses for sale different to the rest of the UK in Bearwood?
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 Bearwood.
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 (West Midlands) as well as the broader region; West Midlands.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bearwood | 5.0% | £865 | no relevant data for this city | 16.0% |
| West Midlands | 4.34% | £919 | 123.12% | 22.46% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
Also, you can compare other data to the table above such as the number of houses sold per month in Bearwood which is 7 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 Bearwood is to invest in. Both in terms of rental yield and capital appreciation.
Is the housing market in Bearwood growing?
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 Bearwood at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Bearwood growth rate | 7% | 2% | 36% |
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 Bearwood 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 Bearwood.
What are the people like in Bearwood?
How much do people in Bearwood 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 (10%). 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 Bearwood, this works out to be £33,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
What’s crime like in Bearwood?
The crime rate of Bearwood 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 194, 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 (194) is both useful and is recommended to be compared to the average.
In the city of Bearwood, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Bearwood, 4.4 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Bearwood.
What does the population of Bearwood look like?
The city of Bearwood has a total population of 21,491. 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 Bearwood 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 Bearwood
Over time, in the last five years, the population of the city of Bearwood has changed by 3%. 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 3% 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 Bearwood?
In the last 10 years, there has been a shift in the population of 8%.
Comparing this to the 5 year figure of Bearwood 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.
What is a social grade score and how does this relate to Bearwood?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Bearwood compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Bearwood, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 10%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| 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 |
For the city of Bearwood, what is the education level?
The number of people as a percentage who have been through university and gained a degree is 19%. The ability to buy a home is greatly influenced by the number of people who have degrees. £33,000 is the amount people in Bearwood 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 Bearwood, 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.
The city of Bearwood, situated in West Midlands, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Bearwood and its demographics will be compared to its wider location (West Midlands). 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 Bearwood. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How deprived is the population of Bearwood?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bearwood, currently, 40% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
Advice from experts on properties for sale in Bearwood
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
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Bearwood
-
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?
We have prepared a list of cities in West Midlands, the same UK region of Bearwood that can help you evaluate the different houses for sale listed in the region:
- Gorcott-Hill in West Midlands
- Kinnersley in West Midlands
- Albrighton in West Midlands
- Boothville in West Midlands
- Acocks-Green in West Midlands
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
0 Comments