Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Chesterfield, Staffordshire.
From the average asking price of houses for sale in Chesterfield to the growth of the population in the area, all will be talked about regarding the city of Chesterfield. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Chesterfield, what are the demographics like?
In the city of Chesterfield, how much green space remains for residents?
Whether you view green space in Chesterfield 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 Chesterfield, the number of acres of green space for every 1000 people currently is 31.2 which can be measured against the UK average of 1.7.
In the city of Chesterfield, 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 Staffordshire for example.
These demographics for Chesterfield 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 Chesterfield in West Midlands.
How deprived is the population of Chesterfield?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 21% for Chesterfield should give you a nice idea of the deprivation in the area.
What’s a social grade score and how does it relate to Chesterfield?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Chesterfield, the percentage of people in the two highest categories, A and B is 28%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £42,500. This income will generally get bigger as the percentage of people in the A and B categories go up too (28%).
What’s the crime rate in Chesterfield?
For the city of Chesterfield, crime rate is at 97. So for every 1000 people in the area, 97 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.
What salary does the community in Chesterfield take home?
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 £42,500.
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 Chesterfield this figure is 28%.
What does the population of Chesterfield look like?
The city of Chesterfield has a total population of 54,095. 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 Chesterfield 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 Chesterfield
Over time, in the last five years, the population of the city of Chesterfield has changed by 2%. 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 2% 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 Chesterfield?
In the last 10 years, there has been a shift in the population of 4%.
Comparing this to the 5 year figure of Chesterfield 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.
For the city of Chesterfield, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Chesterfield is 31%. 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 Chesterfield is £42,500.
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.
How are rental yields of the houses for sale different to the rest of the UK in Chesterfield?
In Chesterfield, how has the number of houses changed?
Before committing to Chesterfield 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|
|Chesterfield growth rate||3%||15%||21%|
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 Chesterfield is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Chesterfield to Staffordshire and the broader suburb of the UK; West Midlands.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Chesterfield for profit in the future, in this case, looking at the data for the number of houses sold per month in Chesterfield would give you an idea of whether the area is actively getting new investors. This figure is 42.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Chesterfield. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
In general, what do houses for sale sell for in Chesterfield?
In Chesterfield, the average sale price of a house for sale is in fact £252,080. This is dependent on the 10 year population growth of Chesterfield being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Chesterfield.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£361,752|
|Aerage sold price (semi-detached)||£213,989|
|Aerage sold price (terraced)||£173,995|
|Aerage sold price (flat)||£129,447|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Chesterfield.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,555|
|Aerage sold price/sqft (new build)||£2,835|
|Aerage sold price/sqft (old stock)||£2,410|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,630. This means if you are just looking out the houses sold in Chesterfield in general and didn’t take into consideration the type of build. For example, a new build.
On average, what is the figure for the asking price of a house for sale in Chesterfield?
The average asking price for the houses for sale in the city of Chesterfield
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£212,885|
|Average asking price (3 bed)||£293,816|
|Average asking price (4 bed)||£454,207|
|Average asking price (5 bed)||£467,995|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Chesterfield and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £1,150 should also give you an overview of what the asking price for houses for sale are in general.
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 Chesterfield is £312,201.
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 Chesterfield is useful when negotiating and knowing what to expect for every type of house for sale.