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 Bickenhill, West Midlands.
From the average asking price of houses for sale in Bickenhill to the growth of the population in the area, all will be talked about regarding the city of Bickenhill. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Are there any important statistics about the population of Bickenhill?
The city of Bickenhill, 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 Bickenhill 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 Bickenhill. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Do the people of Bickenhill get to enjoy 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 Bickenhill, 20.2 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 Bickenhill.
What’s the crime rate in Bickenhill?
In Bickenhill, for every 1000 people, there is currently a crime rate of 79. 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 (79 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.
How educated are the people in Bickenhill?
In the city of Bickenhill, 29% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Bickenhill is £44,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In Bickenhill, how has the population changed?
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 Bickenhill is 36,116.
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 Bickenhill.
In Bickenhill, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. 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 Bickenhill 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 (3%) 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.
Bickenhill population difference over 10 years?
The population has adjusted in the area of Bickenhill by 5% 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 Bickenhill.
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.
How much are those living in Bickenhill 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 £44,600.
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 Bickenhill this figure is 27%.
What is a social grade score and how does this relate to Bickenhill?
In the city of Bickenhill 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 Bickenhill has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 27%.
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 |
In Bickenhill, what are the deprivation levels like?
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 Bickenhill is 22%.
What is the final sale price of a house in Bickenhill?
In Bickenhill, houses for sale are sold at an average of £271,179. 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 Bickenhill. 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) | £467,719 |
| Aerage sold price (semi-detached) | £265,286 |
| Aerage sold price (terraced) | £246,290 |
| Aerage sold price (flat) | £151,409 |
As you can see above, for Bickenhill, 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 5% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,950 |
| Aerage sold price/sqft (new build) | £2,940 |
| Aerage sold price/sqft (old stock) | £2,850 |
Looking at the second table about Bickenhill, 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 Bickenhill is £3,220.
Always consider average rental yield when searching for houses for sale in Bickenhill
Are there new houses being built in Bickenhill to make it grow?
Before committing to Bickenhill 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 | |
|---|---|---|---|
| Bickenhill growth rate | 1% | 9% | 22% |
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 Bickenhill is building housing to find your answer.
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 Bickenhill. 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 Bickenhill.
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 (West Midlands), a regional level (West Midlands) and finally on the level of the city talked about in this article, Bickenhill.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bickenhill | 4.0% | £1,050 | 122% | 27.0% |
| West Midlands | 4.34% | £919 | 123.12% | 22.46% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
You may also find it useful to compare the data above to the number of properties sold per month Bickenhill experiences. This figure for house sales per month is 34. 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 are the asking prices for the houses for sale in the city of Bickenhill?
The average asking price for the houses for sale in the city of Bickenhill
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £226,762 |
| Average asking price (3 bed) | £316,437 |
| Average asking price (4 bed) | £470,433 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£3,480) for houses for sale with this table to get a good idea as to whether Bickenhill is the right area to buy a house in for you.
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 Bickenhill 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 £317,886.
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 Bickenhill.
Professional advice for houses for sale in Bickenhill
A house for sale that is right 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 Bickenhill.
-
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.
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to Bickenhill.
Reading these analysis will help you evaluate the different houses for sale currently listed in West Midlands:
- Enville in West Midlands
- Bromsberrow-Heath in West Midlands
- Northampton in West Midlands
- Twycross in West Midlands
- Allesley in West Midlands
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
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
0 Comments