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What is it like buying a house in Bonehill?

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 Bonehill?

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 Bonehill, Staffordshire.

From the average asking price of houses for sale in Bonehill to the growth of the population in the area, all will be talked about regarding the city of Bonehill. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

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

For the city of Bonehill, the average price a house sells for is £224,714. This value usually depends on the exact location of the house within Bonehill as well as other factors like the population growth in Bonehill which is 5% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £308,304
Aerage sold price (semi-detached) £200,076
Aerage sold price (terraced) £161,566
Aerage sold price (flat) £133,875

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 Bonehill.

Housing category Sale price per square foot
Aerage sold price/sqft £2,460
Aerage sold price/sqft (new build) £2,700
Aerage sold price/sqft (old stock) £2,290

Generalising the bottom table, the average value per square foot of a house for sale is £2,460. This value averages all of the types of houses for sale in Bonehill. 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 Bonehill.

What kind of demographics does the city of Bonehill have?

What is the city of Bonehill’s social grade score?

In the city of Bonehill, the social grade score of the area is 19%. 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 Bonehill.

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 Bonehill, has the population grown or shrunk?

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 Bonehill is 24,227.

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 Bonehill.

In Bonehill, 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 Bonehill 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.

Bonehill population difference over 10 years?

The population has adjusted in the area of Bonehill 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 Bonehill.

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.

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

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bonehill, currently, 26% 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.

How much do people in Bonehill 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 (19%). 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 Bonehill, this works out to be £42,200. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In the city of Bonehill, 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 Staffordshire for example.

These demographics for Bonehill 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 Bonehill in West Midlands.

How much green space is available to residents of Bonehill?

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 Bonehill, 43.2 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 Bonehill.

What’s crime like in Bonehill?

In Bonehill, for every 1000 people, there is currently a crime rate of 83. 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 (83 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 Bonehill?

The number of people as a percentage who have been through university and gained a degree is 17%. The ability to buy a home is greatly influenced by the number of people who have degrees. £42,200 is the amount people in Bonehill 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 Bonehill, 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.

What is the asking price on average of houses for sale in Bonehill?

Average asking prices for houses for sale in Bonehill

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £206,022
Average asking price (3 bed) £290,703
Average asking price (4 bed) £398,397
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Bonehill, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.

On average, in Bonehill, the asking price for a house for sale in the area is £283,539.

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 Bonehill. 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.

Why you should consider the average rental yield when searching for houses for sale in Bonehill

In Bonehill, how has the number of houses changed?

Whenever you are thinking about looking for houses for sale in Bonehill, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Bonehill growth rate 3% 17% 28%

As the population of Bonehill grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Bonehill this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (West Midlands) alongside Staffordshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Bonehill.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bonehill 3.6% £857 140% 18.0%
Staffordshire 3.76% £767 113.22% 20.39%
West Midlands 3.89% £877 119.29% 20.00%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Bonehill.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (22) will be useful.

Get professional help on the houses for sale in Bonehill

A house for sale appropriate to your needs

Many criteria impact the price of houses for sale in Bonehill.
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.

Are you considering other cities with houses for sale?

You can assess the various houses for sale offered in the area by consulting this list of cities in West Midlands, the same UK region as Bonehill:

You may also refer to our landing page specific to UK houses for sale, 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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