Castle Bromwich 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 Castle Bromwich 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 Castle Bromwich.
What kind of demographics does the city of Castle Bromwich have?
What salary does the community in Castle Bromwich take home?
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 Castle Bromwich, the average income is £36,700.00. 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 11% to decide on what the demographics are like in the area.
In the city of Castle Bromwich, has the population grown or shrunk?
Population growth in Castle Bromwich 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 Castle Bromwich, 34865 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 Castle Bromwich 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 Castle Bromwich, 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 Castle Bromwich?
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 6% in Castle Bromwich.
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.
Is the city of Castle Bromwich deprived?
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 Castle Bromwich, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In the city of Castle Bromwich, how much green space remains for residents?
In the city of Castle Bromwich, there are 5 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Castle Bromwich is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What’s the crime rate in Castle Bromwich?
The crime rate of Castle Bromwich must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 11500%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (11500%) is both useful and is recommended to be compared to the average.
What is the social grade score of Castle Bromwich?
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 Castle Bromwich in grades A or B which are the highest skilled roles in the country is 11%.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £36,700.00 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 11%.
The city of Castle Bromwich, situated in West Midlands, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Castle Bromwich and its demographics will be compared to its wider location (West Midlands). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Castle Bromwich. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Is the education level of Castle Bromwich important when buying a house?
In Castle Bromwich, the proportion of people who have a degree is 12%. 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 Castle Bromwich is £36,700.00.
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.
On average, what is the figure for the asking price of a house for sale in Castle Bromwich?
Average price of houses for sale in Castle Bromwich
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£172,917|
|Average asking price (3 bed)||£277,847|
|Average asking price (4 bed)||£368,495|
|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 Castle Bromwich is the right area to buy a house in for you.
When speaking about the city of Castle Bromwich, £282,122 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 in Castle Bromwich would be after a larger house than someone living alone.
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 general, for the city of Castle Bromwich, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Castle Bromwich. In Castle Bromwich, this sale price works out to be £211,773. As an example, a factor like population growth over the last 10 years which works out to be 6% in Castle Bromwich and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£299,646|
|Average sold price (semi-detached)||£232,351|
|Average sold price (terraced)||£152,453|
|Average sold price (flat)||£113,699|
Above, the exact type of house is also shown to vary in price in a table in Castle Bromwich. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,290|
|Average sold price/sqft (new build)||£2,370|
|Average sold price/sqft (old stock)||£2,180|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Castle Bromwich which is £2,290. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
houses for sale in other cities and regions in the UK
We have prepared a list of cities that are entirely dissimilar to the region of West Midlands, perfect if you are looking for somewhere similar to Castle Bromwich but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:
- battersea in West Midlands
- beckingham in West Midlands
- bricket-wood in West Midlands
- acton in West Midlands
- stanmore in West Midlands
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.
Professional advice for houses for sale in Castle Bromwich
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
A house for sale that is right for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Castle Bromwich.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Always consider average rental yield when searching for houses for sale in Castle Bromwich
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 Castle Bromwich, 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)|
|Castle Bromwich||£0||£883||no relevant data for this city||£0|
Assuming that in the future you want to re-sell the house you will eventually purchased in Castle Bromwich you might be interested in the number of sales per month (15) that happen in the local housing market. Comparing this figure for Castle Bromwich with the above table gives you a good understanding of the profitability of the area.
What is the growth in the housing market of Castle Bromwich?
The growth of an area like Castle Bromwich 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|
|Castle Bromwich growth rate||-5%||8%||23%|
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 Castle Bromwich if you want to find out the exact reasons for the housing change.