As a landlord, whenever you are looking at houses for sale in Shropshire, you could find varying prices throughout an area like Bourton. 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 Bourton 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 Bourton will be revealed. Keep reading.
In Bourton, what are the demographics like?
Are the people of Bourton deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bourton, currently, 19% 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.
In the city of Bourton, how much green space remains for residents?
Whether you view green space in Bourton 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 Bourton, the number of acres of green space for every 1000 people currently is 10.7 which can be measured against the UK average of 1.7.
Are the people in Bourton 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 £41,550.
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 Bourton this figure is 26%.
For the city of Bourton, what is the education level?
In Bourton, the proportion of people who have a degree is 30%. 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 Bourton is £41,550.
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.
In the city of Bourton, 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 Shropshire for example.
These demographics for Bourton 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 Bourton in West Midlands.
What’s a social grade score and how does it relate to Bourton?
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 Bourton in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £41,550 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 26%.
Is the crime rate bad in the city of Bourton?
Within Bourton, the number of people committing crimes is 53 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 53 figure carefully.
In Bourton, how has the population changed?
The city of Bourton has a total population of 18,230. 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 Bourton 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 Bourton
Over time, in the last five years, the population of the city of Bourton 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 Bourton?
In the last 10 years, there has been a shift in the population of 6%.
Comparing this to the 5 year figure of Bourton 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.
In general, for the city of Bourton, what are the final purchase prices for the houses for sale?
For the city of Bourton, the average price a house sells for is £292,503. This value usually depends on the exact location of the house within Bourton as well as other factors like the population growth in Bourton which is 6% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£368,246|
|Aerage sold price (semi-detached)||£253,022|
|Aerage sold price (terraced)||£206,773|
|Aerage sold price (flat)||£124,849|
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 Bourton.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,640|
|Aerage sold price/sqft (new build)||£2,100|
|Aerage sold price/sqft (old stock)||£2,560|
Generalising the bottom table, the average value per square foot of a house for sale is £2,830. This value averages all of the types of houses for sale in Bourton. 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 Bourton.
Why you should consider the average rental yield when searching for houses for sale in Bourton
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 Bourton this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (West Midlands) alongside Shropshire 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 Bourton.
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)|
|Bourton||no relevant data for this city||no relevant data for this city||no relevant data for this city||14.0%|
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 Bourton.
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 (18) will be useful.
In Bourton, how has the number of houses changed?
Whenever you are thinking about looking for houses for sale in Bourton, 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|
|Bourton growth rate||4%||17%||19%|
As the population of Bourton 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.
In Bourton, what is the asking price in general for a house for sale?
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Bourton is £402,808.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Bourton is useful when negotiating and knowing what to expect for every type of house for sale.
Average asking prices for houses for sale in Bourton
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£228,032|
|Average asking price (3 bed)||£363,000|
|Average asking price (4 bed)||£472,000|
|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 £1,715. 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 Bourton has a lack of supply of housing in certain categories.