What is it like buying a house in Wolferlow?

Wolferlow 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 Wolferlow.

On top of this, keep reading for detailed information on the demographics of Wolferlow in Herefordshire. 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.

On average, what is the figure for the asking price of a house for sale in Wolferlow?

Table showing the asking prices for houses for sale in Wolferlow

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)	£452,150
Average asking price (4 bed)	no relevant data for this city
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 Wolferlow is the right area to buy a house in for you.

When investors make offers for houses for sale in Wolferlow, the average price asked by the homeowners works out to be £457,514.

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 Wolferlow 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.

What’s the rental yield in general for the city of Wolferlow?

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 Wolferlow.

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 (Herefordshire) as well as the broader region; West Midlands.

	Average Yield	Average Asking rent	Turnover (rental)	Turnover (sale)
Wolferlow	no relevant data for this city	no relevant data for this city	no relevant data for this city	19.0%
Herefordshire	2.86%	£835	134.25%	13.39%
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 Wolferlow which is 6 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 Wolferlow is to invest in. Both in terms of rental yield and capital appreciation.

Is the housing market in Wolferlow growing?

Whenever you are thinking about looking for houses for sale in Wolferlow, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

	1 year	3 years	5 years
Wolferlow growth rate	-10%	2%	11%

As the population of Wolferlow grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

What kind of demographics does the city of Wolferlow have?

Are the people in Wolferlow earning a lot?

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 Wolferlow, the average income is £41,700. 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 23% to decide on what the demographics are like in the area.

Have the people of Wolferlow grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Wolferlow if 7,195 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 Wolferlow such as rental yield or house appreciation.

How has the population size of Wolferlow adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Wolferlow by 4%. 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 4% 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 Wolferlow?

In the last decade, the population of Wolferlow has been adjusted by 7%. 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’s a social grade score and how does it relate to Wolferlow?

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 Wolferlow in grades A or B which are the highest skilled roles in the country is 23%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £41,700 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 23%.

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

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Wolferlow, 12.9 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Wolferlow.

How deprived is the population of Wolferlow?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Wolferlow, in particular, the deprivation levels are 23%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

For the city of Wolferlow, what is the education level?

In Wolferlow, the proportion of people who have a degree is 27%. 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 Wolferlow is £41,700.

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.

The city of Wolferlow, situated in Herefordshire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Wolferlow 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 Wolferlow. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In general, do people commit a lot of crime in Wolferlow?

In Wolferlow, for every 1000 people, there is currently a crime rate of 58. 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 (58 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.

What is the final sale price of a house in Wolferlow?

As well as looking at the asking price for house for sale in Wolferlow, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Wolferlow.

Houses for sale, are sold on average in Wolferlow, after the influence of these factors, at £295,031 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 7% over the last 10 years.

Housing category	Total final sale price
Aerage sold price (detached)	£360,048
Aerage sold price (semi-detached)	£208,691
Aerage sold price (terraced)	£166,280
Aerage sold price (flat)	£139,874

This table above shows the average sale price for each variation of houses for sale in Wolferlow.

Housing category	Sale price per square foot
Aerage sold price/sqft	£2,450
Aerage sold price/sqft (new build)	£2,260
Aerage sold price/sqft (old stock)	£2,310

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Wolferlow is £2,450.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Who can help you buy a house for sale in Wolferlow?

houses for sale in other cities in the UK

You can assess the various houses for sale offered in the area by consulting this list of cities in West Midlands, the same UK region as Wolferlow:

• Arleston in West Midlands
• Aldwincle in West Midlands
• Blurton in West Midlands
• Ashby-St-Ledgers in West Midlands
• Burntwood in West Midlands

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

Finding the ideal house for sale for you

What parameters impact the final price of a house for sale in Wolferlow?
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.

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