fbpx

How much will you pay for a house for sale in Burntwood?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ How much will you pay for a house for sale in Burntwood?

Whenever looking for a house for sale in the UK or in Burntwood, it is vital you look at the market trends and house price fluctuations in the wider area of Staffordshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Burntwood.

In this article, we will be looking at the city of Burntwood in detail so you know how to navigate the area and have a better understanding on where to invest.

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

In Burntwood, houses for sale are sold at an average of £219,014. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Burntwood. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £282,579
Aerage sold price (semi-detached) £195,130
Aerage sold price (terraced) £160,966
Aerage sold price (flat) £123,120

As you can see above, for Burntwood, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 5% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £2,360
Aerage sold price/sqft (new build) £2,460
Aerage sold price/sqft (old stock) £2,220

Looking at the second table about Burntwood, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Burntwood is £2,360.

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

In Burntwood, how has the number of houses changed?

The growth of an area like Burntwood can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Burntwood growth rate 7% 26% 32%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Burntwood if you want to find out the exact reasons for the housing change.

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Burntwood.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Staffordshire) as well as the broader region; West Midlands.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Burntwood 3.4% £798 no relevant data for this city 22.0%
Staffordshire 3.76% £767 113.22% 20.39%
West Midlands 3.89% £877 119.29% 20.00%

Also, you can compare other data to the table above such as the number of houses sold per month in Burntwood which is 23 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Burntwood is to invest in. Both in terms of rental yield and capital appreciation.

What are the asking prices for the houses for sale in the city of Burntwood?

When speaking about the city of Burntwood, £285,266 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Burntwood.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

In the city of Burntwood, what is the average asking price for the houses for sale?

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £204,911
Average asking price (3 bed) £260,800
Average asking price (4 bed) £404,259
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Burntwood, 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.

What are the people like in Burntwood?

In the city of Burntwood, 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 Burntwood is 29,651.

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 Burntwood.

In Burntwood, 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 Burntwood 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.

Burntwood population difference over 10 years?

The population has adjusted in the area of Burntwood 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 Burntwood.

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.

Is there sufficient green space in Burntwood?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Burntwood, the city has 29.6 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Burntwood.

Is the crime rate bad in the city of Burntwood?

For the city of Burntwood, crime rate is at 62. So for every 1000 people in the area, 62 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.

How deprived is the population of Burntwood?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Burntwood is 24%.

Burntwood within Staffordshire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Burntwood will be looked at by comparing it to the local region, as well as comparing it to the wider region too (West Midlands). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Burntwood.

What is the education level like in Burntwood?

In the city of Burntwood, 24% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Burntwood is £40,900.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

How much do people in Burntwood earn?

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 Burntwood, the average income is £40,900. 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 19% to decide on what the demographics are like in the area.

What is the social grade score of Burntwood?

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 Burntwood in grades A or B which are the highest skilled roles in the country is 19%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £40,900 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 19%.

Invest in houses for sale in Burntwood with the right professional advice

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

Thinking about other cities with houses for sale?

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

Choose the right house for sale that suits your needs

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

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *