Whenever looking for a house for sale in the UK or in Dickens Heath, it is vital you look at the market trends and house price fluctuations in the wider area of West Midlands 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 Dickens Heath.
In this article, we will be looking at the city of Dickens Heath in detail so you know how to navigate the area and have a better understanding on where to invest.
What’s the rental yield in general for the city of Dickens Heath?
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 Dickens Heath.
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 (West Midlands) as well as the broader region; West Midlands.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Also, you can compare other data to the table above such as the number of houses sold per month in Dickens Heath which is 43 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 Dickens Heath is to invest in. Both in terms of rental yield and capital appreciation.
Are there new houses being built in Dickens Heath to make it grow?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Dickens Heath that shows the growth in recent years.
|1 year||3 years||5 years|
|Dickens Heath growth rate||-1%||10%||20%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Dickens Heath is important.
What is the asking price on average of houses for sale in Dickens Heath?
When speaking about the city of Dickens Heath, £364,713 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 Dickens Heath.
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.
The average asking price for the houses for sale in the city of Dickens Heath
|Average asking price (1 bed)||£161,522|
|Average asking price (2 bed)||£228,784|
|Average asking price (3 bed)||£371,252|
|Average asking price (4 bed)||£511,348|
|Average asking price (5 bed)||£715,275|
After looking at this table about prices of houses for sale in Dickens Heath, 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 £3,600 will help them to have a more wholistic understanding.
In general, what do houses for sale sell for in Dickens Heath?
In Dickens Heath, the average sale price of a house for sale is in fact £312,420. This is dependent on the 10 year population growth of Dickens Heath being 6%. Growing populations are more likely to inflate the prices of houses for sale in the city of Dickens Heath.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£444,772|
|Aerage sold price (semi-detached)||£300,124|
|Aerage sold price (terraced)||£276,278|
|Aerage sold price (flat)||£175,192|
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 Dickens Heath.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,260|
|Aerage sold price/sqft (new build)||£3,590|
|Aerage sold price/sqft (old stock)||£3,090|
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 £3,430. This means if you are just looking out the houses sold in Dickens Heath in general and didn’t take into consideration the type of build. For example, a new build.
In Dickens Heath, what are the demographics like?
In Dickens Heath, 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 Dickens Heath is 19% 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.
The city of Dickens Heath, 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 Dickens Heath 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 Dickens Heath. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How much are those living in Dickens Heath earning?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (32%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Dickens Heath, this works out to be £49,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
What is the education level like in Dickens Heath?
In the city of Dickens Heath, 31% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Dickens Heath is £49,000. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
What is the population of Dickens Heath?
The city of Dickens Heath has a total population of 45,652. 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 Dickens Heath 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 Dickens Heath
Over time, in the last five years, the population of the city of Dickens Heath 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 Dickens Heath?
In the last 10 years, there has been a shift in the population of 6%.
Comparing this to the 5 year figure of Dickens Heath 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.
In Dickens Heath, what is the crime rate?
For the city of Dickens Heath, crime rate is at 88. So for every 1000 people in the area, 88 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.
In the city of Dickens Heath, how much green space remains for residents?
Whether you view green space in Dickens Heath 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 Dickens Heath, the number of acres of green space for every 1000 people currently is 15.8 which can be measured against the UK average of 1.7.
What’s a social grade score and how does it relate to Dickens Heath?
In the city of Dickens Heath 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 Dickens Heath has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 32%.
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|