As a landlord, whenever you are looking at houses for sale in Northamptonshire, you could find varying prices throughout an area like Corby. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Corby to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Corby will be revealed. Keep reading.
In Corby, what is the asking price in general for a house for sale?
Average price of houses for sale in Corby
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £189,860 |
| Average asking price (3 bed) | £243,377 |
| Average asking price (4 bed) | £336,968 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Corby, 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 £2,615 will help them to have a more wholistic understanding.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Corby determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £253,083.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Corby.
What are the demographics like in the city of Corby?
Is the crime rate bad in the city of Corby?
In Corby, for every 1000 people, there is currently a crime rate of 139. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (139 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In Corby, what is the social grade score?
In the city of Corby 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 Corby 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 |
How much do people in Corby earn?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Corby. Compare the area’s average household income of £35,450 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 12% for more conclusive data on the affluence of the area.
What does the population of Corby look like?
In total, the number of people in Corby is 59,513. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Corby, depending on where exactly you are.
How has Corby changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Corby has changed by no relevant data for this city. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if no relevant data for this city is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Corby?
no relevant data for this city has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Corby have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Is the education level of Corby important when buying a house?
In Corby, the proportion of people who have a degree is 14%. 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 Corby is £35,450.
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.
Corby in the county of Northamptonshire 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 Corby 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 Corby, 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.
How much green space is available to residents of Corby?
In the city of Corby, there are 9.5 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 Corby is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How deprived is the population of Corby?
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 29% for Corby should give you a nice idea of the deprivation in the area.
Always consider average rental yield when searching for houses for sale in Corby
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 Corby, 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 Northamptonshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Corby | 4.4% | £913 | 140% | 21.0% |
| Northamptonshire | 3.73% | £983 | 126.92% | 19.22% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Corby you might be interested in the number of sales per month (63) that happen in the local housing market. Comparing this figure for Corby with the above table gives you a good understanding of the profitability of the area.
Are there new houses being built in Corby to make it grow?
Before committing to Corby 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 | |
|---|---|---|---|
| Corby growth rate | 2% | 12% | 24% |
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 Corby is building housing to find your answer.
In general, what do houses for sale sell for in Corby?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Corby. In Corby, this sale price works out to be £204,255. As an example, a factor like population growth over the last 10 years which works out to be no relevant data for this city in Corby and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £280,148 |
| Average sold price (semi-detached) | £182,298 |
| Average sold price (terraced) | £160,271 |
| Average sold price (flat) | £116,245 |
Above, the exact type of house is also shown to vary in price in a table in Corby. 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 | £2,170 |
| Average sold price/sqft (new build) | £2,220 |
| Average sold price/sqft (old stock) | £2,010 |
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 Corby which is £2,390. 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.
Professional advice for houses for sale in Corby
A house for sale that is right for you
What parameters impact the final price of a house for sale in Corby?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
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Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
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Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
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Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
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Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
Are you considering other cities with houses for sale?
Examine this short list of cities belonging to West Midlands, the same region where Corby is located.
- Wolverhampton in West Midlands
- Newbold-On-Avon in West Midlands
- Allscot in West Midlands
- Acton-Round in West Midlands
- Beech in West Midlands
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
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