Brierley Hill might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of West Midlands.
Before looking for a house for sale in the city of Brierley Hill we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Brierley Hill.
What is the final sale price of a house in Brierley Hill?
For the city of Brierley Hill, the average price a house sells for is £161,868. This value usually depends on the exact location of the house within Brierley Hill as well as other factors like the population growth in Brierley Hill which is 3% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£238,132|
|Aerage sold price (semi-detached)||£152,063|
|Aerage sold price (terraced)||£131,050|
|Aerage sold price (flat)||£83,877|
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 Brierley Hill.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,000|
|Aerage sold price/sqft (new build)||£2,190|
|Aerage sold price/sqft (old stock)||£1,910|
Generalising the bottom table, the average value per square foot of a house for sale is £2,000. This value averages all of the types of houses for sale in Brierley Hill. 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 Brierley Hill.
What are the demographics like in the city of Brierley Hill?
In Brierley Hill, what is the crime rate?
For the city of Brierley Hill, crime rate is at 140. So for every 1000 people in the area, 140 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
Is there sufficient green space in Brierley Hill?
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 Brierley Hill, 3.5 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 Brierley Hill.
What is the social grade score of Brierley Hill?
In the city of Brierley Hill 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 Brierley Hill has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 12%.
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|
Are the people in Brierley Hill earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Brierley Hill, the average income is £36,400. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 12% to decide on what the demographics are like in the area.
Located in West Midlands is the city of Brierley Hill, in a large part of the UK; West Midlands. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Brierley Hill has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Brierley Hill which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What is the education level like in Brierley Hill?
The number of people as a percentage who have been through university and gained a degree is 14%. The ability to buy a home is greatly influenced by the number of people who have degrees. £36,400 is the amount people in Brierley Hill 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 Brierley Hill, 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 does the population of Brierley Hill look like?
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 Brierley Hill is 42,238.
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 Brierley Hill.
In Brierley Hill, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 2%. 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 Brierley Hill 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 (2%) 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.
Brierley Hill population difference over 10 years?
The population has adjusted in the area of Brierley Hill by 3% 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 Brierley Hill.
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 deprived is the population of Brierley Hill?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Brierley Hill, currently, 33% 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.
On average, what is the figure for the asking price of a house for sale in Brierley Hill?
On average, in Brierley Hill, the asking price for a house for sale in the area is £208,028.
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 Brierley Hill. 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 Brierley Hill
|Average asking price (1 bed)||£99,454|
|Average asking price (2 bed)||£164,587|
|Average asking price (3 bed)||£234,627|
|Average asking price (4 bed)||£320,370|
|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 (£0) for houses for sale with this table to get a good idea as to whether Brierley Hill is the right area to buy a house in for you.
How are rental yields of the houses for sale different to the rest of the UK in Brierley Hill?
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 Brierley Hill, 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)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Brierley Hill you might be interested in the number of sales per month (28) that happen in the local housing market. Comparing this figure for Brierley Hill with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Brierley Hill?
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 Brierley Hill at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Brierley Hill growth rate||-1%||17%||27%|
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 Brierley Hill 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 Brierley Hill.