Oldbury can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Oldbury.
On top of this, keep reading for detailed information on the demographics of Oldbury in West Midlands. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
In general, what do houses for sale sell for in Oldbury?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Oldbury. In Oldbury, this sale price works out to be £169,629. As an example, a factor like population growth over the last 10 years which works out to be 8% in Oldbury and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£240,195|
|Average sold price (semi-detached)||£164,652|
|Average sold price (terraced)||£144,385|
|Average sold price (flat)||£84,906|
Above, the exact type of house is also shown to vary in price in a table in Oldbury. 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||£1,985|
|Average sold price/sqft (new build)||£1,100|
|Average sold price/sqft (old stock)||£1,865|
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 Oldbury which is £1,985. 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.
What kind of demographics does the city of Oldbury have?
In the city of Oldbury, has the population grown or shrunk?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Oldbury is 59,935.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Oldbury.
In Oldbury, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Oldbury is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (3%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Oldbury population difference over 10 years?
The population has adjusted in the area of Oldbury by 8% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Oldbury.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
In the city of Oldbury, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of West Midlands for example.
These demographics for Oldbury may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Oldbury in West Midlands.
How much do people in Oldbury earn?
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 (12%). 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 Oldbury, this works out to be £34,750. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is there sufficient green space in Oldbury?
Whether you view green space in Oldbury 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 Oldbury, the number of acres of green space for every 1000 people currently is 10.7 which can be measured against the UK average of 1.7.
Is the crime rate bad in the city of Oldbury?
The crime rate of Oldbury must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 125, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (125) is both useful and is recommended to be compared to the average.
What is the city of Oldbury’s social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Oldbury in grades A or B which are the highest skilled roles in the country is 12%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £34,750 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 12%.
How deprived is the population of Oldbury?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Oldbury, currently, 35% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
How educated are the people in Oldbury?
Interestingly, the percentage of people who have a degree in the city of Oldbury is 16%. 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 Oldbury is £34,750.
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.
What are the asking prices for the houses for sale in the city of Oldbury?
In the city of Oldbury, 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)||£166,065|
|Average asking price (3 bed)||£237,988|
|Average asking price (4 bed)||£355,711|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Oldbury, 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 £0 will help them to have a more wholistic understanding.
When speaking about the city of Oldbury, £230,123 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 Oldbury.
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.
Always consider average rental yield when searching for houses for sale in Oldbury
Is the housing market in Oldbury growing?
The growth of an area like Oldbury can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Oldbury growth rate||7%||26%||32%|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Oldbury if you want to find out the exact reasons for the housing change.
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 Oldbury, 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 West Midlands, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Oldbury||4.4%||£841||no relevant data for this city||24.5%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Oldbury you might be interested in the number of sales per month (39) that happen in the local housing market. Comparing this figure for Oldbury with the above table gives you a good understanding of the profitability of the area.