Whenever looking for a house for sale in the UK or in Horsehay, it is vital you look at the market trends and house price fluctuations in the wider area of Shropshire 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 Horsehay.
In this article, we will be looking at the city of Horsehay in detail so you know how to navigate the area and have a better understanding on where to invest.
On average, what is the figure for the asking price of a house for sale in Horsehay?
When investors make offers for houses for sale in Horsehay, the average price asked by the homeowners works out to be £252,974.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Horsehay is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Average price of houses for sale in Horsehay
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £165,850 |
| Average asking price (3 bed) | £247,975 |
| Average asking price (4 bed) | £353,742 |
| Average asking price (5 bed) | £401,045 |
After looking at this table about prices of houses for sale in Horsehay, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that 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 £0 will help them to have a more holistic understanding.
In Horsehay, what do houses for sale tend to sell for?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Horsehay. In Horsehay, this sale price works out to be £192,424. As an example, a factor like population growth over the last 10 years which works out to be 10% in Horsehay and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £245,083 |
| Average sold price (semi-detached) | £166,129 |
| Average sold price (terraced) | £145,435 |
| Average sold price (flat) | £93,094 |
Above, the exact type of house is also shown to vary in price in a table in Horsehay. 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 | £2,000 |
| Average sold price/sqft (new build) | £2,090 |
| Average sold price/sqft (old stock) | £1,830 |
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 Horsehay which is £2,000. 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.
In Horsehay, what are the rental yields?
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 Horsehay. 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 Horsehay.
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 (Shropshire), a regional level (West Midlands) and finally on the level of the city talked about in this article, Horsehay.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Horsehay | 3.4% | £715 | no relevant data for this city | 19.0% |
| Shropshire | 3.41% | £778 | 123.75% | 14.71% |
| West Midlands | 3.89% | £877 | 119.29% | 20.00% |
You may also find it useful to compare the data above to the number of properties sold per month Horsehay experiences. This figure for house sales per month is 22. 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.
Are there more or fewer houses being built in Horsehay?
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 Horsehay that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Horsehay growth rate | -5% | 1% | 21% |
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 Horsehay is important.
Other cities in different locations you can consider to buy property
You can consult our list below that goes over a list of cities not necessarily in West Midlands, allowing you to find similar places to Horsehay:
- Carrog in West Midlands
- Dukinfield in West Midlands
- Byker in West Midlands
- Austhorpe in West Midlands
- Kemsley in West Midlands
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
In Horsehay, what are the demographics like?
What does the population of Horsehay look like?
The city of Horsehay has a total population of 18,282. 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 Horsehay 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 Horsehay
Over time, in the last five years, the population of the city of Horsehay has changed by 6%. 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 6% 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 Horsehay?
In the last 10 years, there has been a shift in the population of 10%.
Comparing this to the 5 year figure of Horsehay 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.
Is the crime rate bad in the city of Horsehay?
Within Horsehay, the number of people committing crimes is 145 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 145 figure carefully.
What is the education level like in Horsehay?
The number of people as a percentage who have been through university and gained a degree is 18%. The ability to buy a home is greatly influenced by the number of people who have degrees. £40,100 is the amount people in Horsehay are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Horsehay, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
The city of Horsehay, situated in Shropshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Horsehay 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 Horsehay. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In the city of Horsehay, how much green space remains for residents?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Horsehay currently has 17.2 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Horsehay in this case.
How much are those living in Horsehay earning?
While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.
£40,100 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 16% for Horsehay.
What is a social grade score and how does this relate to Horsehay?
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 Horsehay, the percentage of people in the two highest categories, A and B is 16%. 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 £40,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (16%).
How deprived is the population of Horsehay?
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 28% for Horsehay should give you a nice idea of the deprivation in the area.
Get professional help on the houses for sale in Horsehay
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
A house for sale appropriate to your needs
Many criteria impact the price of houses for sale in Horsehay.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
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