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How much will you pay for a house for sale in Stoke Prior?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ How much will you pay for a house for sale in Stoke Prior?

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Stoke Prior 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 Stoke Prior.

On top of this, keep reading for detailed information on the demographics of Stoke Prior in Herefordshire. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

What are the asking prices for the houses for sale in the city of Stoke Prior?

The average asking price for the houses for sale in the city of Stoke Prior

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £234,612
Average asking price (3 bed) £343,221
Average asking price (4 bed) £499,150
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Stoke Prior, 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.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Stoke Prior is £377,035.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Stoke Prior is useful when negotiating and knowing what to expect for every type of house for sale.

Who can help you buy a house for sale in Stoke Prior?

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

Are there any important statistics about the population of Stoke Prior?

How much do people in Stoke Prior earn?

By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.

In Stoke Prior, the average income is £47,800.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.

When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 31% to decide on what the demographics are like in the area.

In the city of Stoke Prior, is there a lot of green space?

In the city of Stoke Prior, there are 16 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Stoke Prior is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

Is the education level of Stoke Prior important when buying a house?

In the city of Stoke Prior, 31% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Stoke Prior is £47,800.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

Are the people of Stoke Prior deprived?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Stoke Prior is £0.

Have the people of Stoke Prior grown in numbers?

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 Stoke Prior is 27158.

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 Stoke Prior.

In Stoke Prior, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 5%. 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 Stoke Prior 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 (5%) 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.

Stoke Prior population difference over 10 years?

The population has adjusted in the area of Stoke Prior 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 Stoke Prior.

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 Stoke Prior, 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 Herefordshire for example.

These demographics for Stoke Prior 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 Stoke Prior in West Midlands.

What is a social grade score and how does this relate to Stoke Prior?

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 Stoke Prior, the percentage of people in the two highest categories, A and B is 31%. 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 £47,800.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (31%).

What’s the crime rate in Stoke Prior?

In Stoke Prior, for every 1000 people, there is currently a crime rate of 7800%. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (7800% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

Are you considering other cities with houses for sale?

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 Stoke Prior:

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

A house for sale that is right for you

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Stoke Prior

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Always consider average rental yield when searching for houses for sale in Stoke Prior

What is the growth in the housing market of Stoke Prior?

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 Stoke Prior that shows the growth in recent years.

1 year 3 years 5 years
Stoke Prior growth rate -2% 14% 18%

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 Stoke Prior is important.

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 Stoke Prior. 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 Stoke Prior.

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 (Herefordshire), a regional level (West Midlands) and finally on the level of the city talked about in this article, Stoke Prior.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Stoke Prior £0 £899 £1 £0
Herefordshire 2.86% £835.00 134.25% 13.39%
West Midlands 0.04 876.64 £1 20.00%

You may also find it useful to compare the data above to the number of properties sold per month Stoke Prior experiences. This figure for house sales per month is 18. 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.

In Stoke Prior, what do houses for sale tend to sell for?

For the city of Stoke Prior, the average price a house sells for is £294,867. This value usually depends on the exact location of the house within Stoke Prior as well as other factors like the population growth which is 8% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £378,410
Aerage sold price (semi-detached) £250,482
Aerage sold price (terraced) £217,623
Aerage sold price (flat) £124,893

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Stoke Prior.

Housing category Sale price per square foot
Aerage sold price/sqft £2,890
Aerage sold price/sqft (new build) £3,260
Aerage sold price/sqft (old stock) £2,750

Generalising the bottom table, the average value per square foot of a house for sale is £2,890. This value averages all of the types of houses for sale in Stoke Prior. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Stoke Prior.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.

FAQ

If you are a landlord, should you renovate a property in the city of Stoke Prior?

Amidst the urban landscape of Stoke Prior, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 8 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (27158).

How many property sales occur per month in Stoke Prior?

In the city of Stoke Prior, there are 18 and in the total for the UK, there are around 1.1 million property sales.

How does the population in a city like Stoke Prior change annually?

To assess the shifts in Stoke Prior’s population over time, analyse how the population has altered. Look at the ten year change of population of 8%, alongside the five-year change of 5%.

What are the asking rates for houses for sale in the surrounding area of Stoke Prior?

Currently, the mean asking price of a house in Stoke Prior is £0, calculated using the average value per square foot

Is investing in a house for sale in Stoke Prior a financially demanding choice?

To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Stoke Prior, the value is £294,867, whereas the UK’s mean is £286,500

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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