Gorcott Hill 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 Warwickshire.
Before looking for a house for sale in the city of Gorcott Hill 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 Gorcott Hill.
Why you should consider the average rental yield when searching for houses for sale in Gorcott Hill
What is the growth in the housing market of Gorcott Hill?
Before committing to Gorcott Hill 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|
|Gorcott Hill growth rate||11%||25%||30%|
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 Gorcott Hill 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 Gorcott Hill. 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 Gorcott Hill.
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 (Warwickshire), a regional level (West Midlands) and finally on the level of the city talked about in this article, Gorcott Hill.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Gorcott Hill||no relevant data for this city||no relevant data for this city||no relevant data for this city||7.0%|
You may also find it useful to compare the data above to the number of properties sold per month Gorcott Hill experiences. This figure for house sales per month is 3. 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.
On average, what is the figure for the asking price of a house for sale in Gorcott Hill?
Average price of houses for sale in Gorcott Hill
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||£315,370|
|Average asking price (4 bed)||£500,385|
|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 Gorcott Hill is £0. This should show you the general prices overall and for individual types of houses too.
On average, in Gorcott Hill, the asking price for a house for sale in the area is £348,912.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Gorcott Hill. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
In general, what do houses for sale sell for in Gorcott Hill?
In Gorcott Hill, houses for sale are sold at an average of £266,213. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Gorcott Hill. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£373,721|
|Aerage sold price (semi-detached)||£245,933|
|Aerage sold price (terraced)||£197,791|
|Aerage sold price (flat)||£125,717|
As you can see above, for Gorcott Hill, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 10% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,620|
|Aerage sold price/sqft (new build)||£2,850|
|Aerage sold price/sqft (old stock)||£2,570|
Looking at the second table about Gorcott Hill, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Gorcott Hill is £2,620.
In Gorcott Hill, what are the demographics like?
In the city of Gorcott Hill, is there a lot of green space?
Whether you view green space in Gorcott Hill 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 Gorcott Hill, the number of acres of green space for every 1000 people currently is 45.6 which can be measured against the UK average of 1.7.
What is a social grade score and how does this relate to Gorcott Hill?
In the city of Gorcott Hill 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 Gorcott Hill has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 26%.
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|
Gorcott Hill in the county of Warwickshire 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 Gorcott Hill 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 Gorcott Hill, 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.
What is the education level like in Gorcott Hill?
Interestingly, the percentage of people who have a degree in the city of Gorcott Hill is 18%. 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 Gorcott Hill is £42,900.
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.
Is the crime rate bad in the city of Gorcott Hill?
For every one thousand people living in Gorcott Hill, 76 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 76 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In the city of Gorcott Hill, has the population grown or shrunk?
The city of Gorcott Hill has a total population of 7,055. 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 Gorcott Hill 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 Gorcott Hill
Over time, in the last five years, the population of the city of Gorcott Hill has changed by 8%. 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 8% 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 Gorcott Hill?
In the last 10 years, there has been a shift in the population of 10%.
Comparing this to the 5 year figure of Gorcott Hill 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.
Are the people of Gorcott Hill deprived?
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 Gorcott Hill is 27% 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.
How much are those living in Gorcott Hill earning?
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 £42,900.
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 Gorcott Hill this figure is 26%.
Invest in houses for sale in Gorcott Hill with the right professional advice
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in West Midlands, the same UK region of Gorcott Hill that can help you evaluate the different houses for sale listed in the region:
- Kinnersley in West Midlands
- Beech in West Midlands
- Bickenhill in West Midlands
- Adderley in West Midlands
- Kington in West Midlands
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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
What parameters impact the final price of a house for sale in Gorcott Hill?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
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.
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.
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.
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
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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.
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.