As a landlord, whenever you are looking at houses for sale in West Midlands, you could find varying prices throughout an area like Blossomfield. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Blossomfield to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Blossomfield will be revealed. Keep reading.
Are there any important statistics about the population of Blossomfield?
In Blossomfield, what is the crime rate?
Within Blossomfield, the number of people committing crimes is 83 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 83 figure carefully.
How much are those living in Blossomfield earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Blossomfield. Compare the area’s average household income of £53,300 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 45% for more conclusive data on the affluence of the area.
Blossomfield in the county of West Midlands is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Blossomfield is located in; West Midlands.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Blossomfield, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
Is there sufficient green space in Blossomfield?
Whether you view green space in Blossomfield 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 Blossomfield, the number of acres of green space for every 1000 people currently is 15.1 which can be measured against the UK average of 1.7.
In Blossomfield, how educated are people in general?
In Blossomfield, the proportion of people who have a degree is 41%. 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 Blossomfield is £53,300.
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.
What is a social grade score and how does this relate to Blossomfield?
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 Blossomfield in grades A or B which are the highest skilled roles in the country is 45%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £53,300 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 45%.
In Blossomfield, what are the deprivation levels like?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Blossomfield, in particular, the deprivation levels are 15%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What does the population of Blossomfield look like?
Population growth in Blossomfield is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Blossomfield, 33,236 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Blossomfield in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Blossomfield, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Blossomfield?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 5% in Blossomfield.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
In general, for the city of Blossomfield, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Blossomfield, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Blossomfield.
Houses for sale, are sold on average in Blossomfield, after the influence of these factors, at £415,636 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 5% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £580,199 |
| Aerage sold price (semi-detached) | £375,811 |
| Aerage sold price (terraced) | £297,881 |
| Aerage sold price (flat) | £216,503 |
This table above shows the average sale price for each variation of houses for sale in Blossomfield.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,560 |
| Aerage sold price/sqft (new build) | £3,920 |
| Aerage sold price/sqft (old stock) | £3,450 |
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Blossomfield is £3,590.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
In Blossomfield, what are the rental yields?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Blossomfield, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; West Midlands. As well as West Midlands, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Blossomfield | 2.9% | £1,206 | 140% | 18.0% |
| West Midlands | 4.34% | £919 | 123.12% | 22.46% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Blossomfield you might be interested in the number of sales per month (30) that happen in the local housing market. Comparing this figure for Blossomfield with the above table gives you a good understanding of the profitability of the area.
In Blossomfield, how has the number of houses changed?
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 Blossomfield at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Blossomfield growth rate | -7% | 15% | 18% |
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 Blossomfield 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 Blossomfield.
In Blossomfield, what is the asking price in general for a house for sale?
On average, in Blossomfield, the asking price for a house for sale in the area is £502,623.
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 Blossomfield. 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 asking prices for houses for sale in Blossomfield
| Average asking price (1 bed) | £189,327 |
| Average asking price (2 bed) | £255,880 |
| Average asking price (3 bed) | £442,424 |
| Average asking price (4 bed) | £685,350 |
| Average asking price (5 bed) | £943,569 |
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 Blossomfield is £3,620. This should show you the general prices overall and for individual types of houses too.
Invest in houses for sale in Blossomfield with the right professional advice
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to Blossomfield.
Reading these analysis will help you evaluate the different houses for sale currently listed in West Midlands:
- Bickenhill in West Midlands
- Burntwood in West Midlands
- Dallington in West Midlands
- Ball-Haye-Green in West Midlands
- Chelmsley-Wood 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.
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Blossomfield.
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.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Recent Comments