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What is it like buying a house in Billesley?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ What is it like buying a house in Billesley?

Billesley can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Billesley.

On top of this, keep reading for detailed information on the demographics of Billesley in West Midlands. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

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

For the city of Billesley, the average price a house sells for is £226,854. This value usually depends on the exact location of the house within Billesley as well as other factors like the population growth in Billesley which is 8% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £471,398
Aerage sold price (semi-detached) £315,013
Aerage sold price (terraced) £207,788
Aerage sold price (flat) £137,027

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 Billesley.

Housing category Sale price per square foot
Aerage sold price/sqft £2,510
Aerage sold price/sqft (new build) £3,120
Aerage sold price/sqft (old stock) £2,390

Generalising the bottom table, the average value per square foot of a house for sale is £2,510. This value averages all of the types of houses for sale in Billesley. 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 Billesley.

Asking price in Billesley for a house for sale

On average, in Billesley, the asking price for a house for sale in the area is £307,876.

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 Billesley. 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.

Average price of houses for sale in Billesley

Average asking price (1 bed) £131,112
Average asking price (2 bed) £214,255
Average asking price (3 bed) £304,570
Average asking price (4 bed) £500,994
Average asking price (5 bed) £743,073

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 Billesley has a lack of supply of housing in certain categories.

What are the demographics like in the city of Billesley?

How deprived is the population of Billesley?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Billesley is 29% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

The city of Billesley, 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 Billesley 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 Billesley. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Is the education level of Billesley important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Billesley is 37%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Billesley is £40,100.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

What’s the crime rate in Billesley?

The crime rate of Billesley 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 119, 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 (119) is both useful and is recommended to be compared to the average.

Are the people in Billesley earning a lot?

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 £40,100.

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 Billesley this figure is 29%.

Is there sufficient green space in Billesley?

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 Billesley, 18.0 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 Billesley.

What is the social grade score of Billesley?

In the city of Billesley, the social grade score of the area is 29%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Billesley.

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 the city of Billesley, has the population grown or shrunk?

The city of Billesley has a total population of 37,667. 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 Billesley 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 Billesley

Over time, in the last five years, the population of the city of Billesley 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 Billesley?

In the last 10 years, there has been a shift in the population of 8%.

Comparing this to the 5 year figure of Billesley 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.

How are rental yields of the houses for sale different to the rest of the UK in Billesley?

Are there new houses being built in Billesley to make it grow?

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 Billesley at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Billesley growth rate -11% 7% 14%

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 Billesley 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 Billesley.

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 Billesley. 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 Billesley.

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, Billesley.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Billesley 4.0% £1,025 140% 23.0%
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 Billesley experiences. This figure for house sales per month is 23. 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.

Get professional help on the houses for sale in Billesley

Thinking about other cities with houses for sale?

See here below a list of cities in the same UK region of Billesley 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.

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

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Billesley.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • 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.

  • 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

  • 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

  • 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.

  • 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

  • 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

  • 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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