As a landlord, whenever you are looking at houses for sale in Staffordshire, you could find varying prices throughout an area like Himley. 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 Himley 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 Himley will be revealed. Keep reading.
Why you should consider the average rental yield when searching for houses for sale in Himley
Are there new houses being built in Himley 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 Himley that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Himley growth rate | -1% | 22% | 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 Himley is important.
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 Himley.
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 (Staffordshire) as well as the broader region; West Midlands.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Himley | 3.6% | £780 | no relevant data for this city | 22.0% |
| Staffordshire | 3.76% | £767 | 113.22% | 20.39% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
Also, you can compare other data to the table above such as the number of houses sold per month in Himley which is 23 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 Himley is to invest in. Both in terms of rental yield and capital appreciation.
In Himley, what do houses for sale tend to sell for?
In Himley, the average sale price of a house for sale is in fact £196,658. This is dependent on the 10 year population growth of Himley being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Himley.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £276,657 |
| Aerage sold price (semi-detached) | £180,681 |
| Aerage sold price (terraced) | £151,410 |
| Aerage sold price (flat) | £95,957 |
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 Himley.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,170 |
| Aerage sold price/sqft (new build) | £2,590 |
| Aerage sold price/sqft (old stock) | £2,050 |
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 £2,170. This means if you are just looking out the houses sold in Himley in general and didn’t take into consideration the type of build. For example, a new build.
What are the people like in Himley?
Located in Staffordshire is the city of Himley, in a large part of the UK; West Midlands. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Himley has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Himley which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
Are the people in Himley earning a lot?
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 Himley. Compare the area’s average household income of £37,400 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 16% for more conclusive data on the affluence of the area.
In Himley, 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 Himley is 28% 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.
What does the population of Himley look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Himley if 34,092 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Himley such as rental yield or house appreciation.
How has the population size of Himley adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Himley by 2%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 2% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Himley?
In the last decade, the population of Himley has been adjusted by 3%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
What is a social grade score and how does this relate to Himley?
In the city of Himley 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 Himley has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 16%.
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 Himley, what is the crime rate?
Within Himley, the number of people committing crimes is 93 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 93 figure carefully.
In the city of Himley, is there a lot of green space?
Whether you view green space in Himley 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 Himley, the number of acres of green space for every 1000 people currently is 38.7 which can be measured against the UK average of 1.7.
In Himley, how educated are people in general?
In Himley, the proportion of people who have a degree is 20%. 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 Himley is £37,400.
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.
What are the asking prices for the houses for sale in the city of Himley?
On average, in Himley, the asking price for a house for sale in the area is £260,982.
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 Himley. 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 the city of Himley, 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) | £193,446 |
| Average asking price (3 bed) | £255,246 |
| Average asking price (4 bed) | £386,042 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Himley is the right area to buy a house in for you.
Invest in houses for sale in Himley with the right professional advice
Choose the right house for sale that suits your needs
What parameters impact the final price of a house for sale in Himley?
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.
Other cities you can consider looking for with houses for sale
Below are a list of towns with a similar location to Himley.
Reading these analysis will help you evaluate the different houses for sale currently listed in West Midlands:
- Acton-Round in West Midlands
- Stafford in West Midlands
- Bickford in West Midlands
- Burntwood in West Midlands
- Admington 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
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