Chelmsley Wood 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 Chelmsley Wood 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 Chelmsley Wood.
What are the people like in Chelmsley Wood?
How much green space is available to residents of Chelmsley Wood?
In the city of Chelmsley Wood, there are 18.1 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 Chelmsley Wood is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How educated are the people in Chelmsley Wood?
Interestingly, the percentage of people who have a degree in the city of Chelmsley Wood is 11%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Chelmsley Wood is £34,600.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
What is the population of Chelmsley Wood?
The city of Chelmsley Wood has a total population of 35,871. 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 Chelmsley Wood 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 Chelmsley Wood
Over time, in the last five years, the population of the city of Chelmsley Wood 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 Chelmsley Wood?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Chelmsley Wood 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.
What is the social grade score of Chelmsley Wood?
In the city of Chelmsley Wood 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 Chelmsley Wood has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 9%.
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|
In Chelmsley Wood, what are the deprivation levels like?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Chelmsley Wood is 37% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
Chelmsley Wood in the county of West Midlands is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Chelmsley Wood is located in; West Midlands.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Chelmsley Wood, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
Are the people in Chelmsley Wood 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 £34,600.
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 Chelmsley Wood this figure is 9%.
What’s crime like in Chelmsley Wood?
For the city of Chelmsley Wood, crime rate is at 166. So for every 1000 people in the area, 166 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.
On average, what is the figure for the asking price of a house for sale in Chelmsley Wood?
In the city of Chelmsley Wood, 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)||£180,714|
|Average asking price (3 bed)||£214,409|
|Average asking price (4 bed)||£354,167|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Chelmsley Wood is £0. This should show you the general prices overall and for individual types of houses too.
When investors make offers for houses for sale in Chelmsley Wood, the average price asked by the homeowners works out to be £213,762.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Chelmsley Wood is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In general, what do houses for sale sell for in Chelmsley Wood?
For the city of Chelmsley Wood, the average price a house sells for is £180,782. This value usually depends on the exact location of the house within Chelmsley Wood as well as other factors like the population growth in Chelmsley Wood which is 5% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£308,920|
|Aerage sold price (semi-detached)||£199,335|
|Aerage sold price (terraced)||£150,159|
|Aerage sold price (flat)||£97,679|
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 Chelmsley Wood.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,040|
|Aerage sold price/sqft (new build)||£2,270|
|Aerage sold price/sqft (old stock)||£1,890|
Generalising the bottom table, the average value per square foot of a house for sale is £2,040. This value averages all of the types of houses for sale in Chelmsley Wood. 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 Chelmsley Wood.
In Chelmsley Wood, what are the rental yields?
Is the housing market in Chelmsley Wood growing?
Before committing to Chelmsley Wood to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Chelmsley Wood growth rate||2%||4%||27%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Chelmsley Wood is building housing to find your answer.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Chelmsley Wood. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Chelmsley Wood.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (West Midlands), a regional level (West Midlands) and finally on the level of the city talked about in this article, Chelmsley Wood.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Chelmsley Wood||4.6%||£822||no relevant data for this city||30.0%|
You may also find it useful to compare the data above to the number of properties sold per month Chelmsley Wood experiences. This figure for house sales per month is 20. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Professional advice for houses for sale in Chelmsley Wood
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Chelmsley Wood.
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.
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Chelmsley Wood.
Reading these analysis will help you evaluate the different houses for sale currently listed in West Midlands:
- Barlaston in West Midlands
- Albrighton in West Midlands
- Abthorpe in West Midlands
- Gorcott-Hill in West Midlands
- Acton-Trussell in West Midlands
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
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