Peterborough 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 Peterborough.
On top of this, keep reading for detailed information on the demographics of Peterborough in Cambridgeshire. 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.
What is the asking price on average of houses for sale in Peterborough?
On average, in Peterborough, the asking price for a house for sale in the area is £341,361.
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 Peterborough. 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.
Table showing the asking prices for houses for sale in Peterborough
| Average asking price (1 bed) | £156,313 |
| Average asking price (2 bed) | £228,432 |
| Average asking price (3 bed) | £318,779 |
| Average asking price (4 bed) | £474,301 |
| Average asking price (5 bed) | £726,346 |
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £875. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Peterborough has a lack of supply of housing in certain categories.
Are there any important statistics about the population of Peterborough?
Are the people of Peterborough deprived?
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 Peterborough, in particular, the deprivation levels are 20%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Is the crime rate bad in the city of Peterborough?
The crime rate of Peterborough 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 75, 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 (75) is both useful and is recommended to be compared to the average.
For the city of Peterborough, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Peterborough is 27%. 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 Peterborough is £48,850.
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.
Peterborough in the county of Cambridgeshire is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Peterborough is located in; East of England.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Peterborough, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
Do the people of Peterborough get to enjoy green space?
In the city of Peterborough, there are 19.3 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 Peterborough is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is a social grade score and how does this relate to Peterborough?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Peterborough compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Peterborough, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 26%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| 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 |
What is the population of Peterborough?
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 Peterborough is 109,120.
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 Peterborough.
In Peterborough, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 2%. 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 Peterborough 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 (2%) 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.
Peterborough population difference over 10 years?
The population has adjusted in the area of Peterborough by 6% 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 Peterborough.
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.
How much are those living in Peterborough earning?
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 (26%). 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 Peterborough, this works out to be £48,850. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In Peterborough, what do houses for sale tend to sell for?
In Peterborough, houses for sale are sold at an average of £280,405. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Peterborough. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £362,355 |
| Aerage sold price (semi-detached) | £252,677 |
| Aerage sold price (terraced) | £204,548 |
| Aerage sold price (flat) | £144,811 |
As you can see above, for Peterborough, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 6% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,798 |
| Aerage sold price/sqft (new build) | £2,975 |
| Aerage sold price/sqft (old stock) | £2,710 |
Looking at the second table about Peterborough, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Peterborough is £2,875.
What’s the rental yield in general for the city of Peterborough?
Are there new houses being built in Peterborough to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Peterborough at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Peterborough growth rate | -3% | 4% | 15% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Peterborough gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Peterborough.
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 Peterborough. 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 Peterborough.
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 (Cambridgeshire), a regional level (East of England) and finally on the level of the city talked about in this article, Peterborough.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Peterborough | 3.5% | £1,013 | 140% | 17.3% |
| Cambridgeshire | 3.51% | £1,154 | 130.11% | 17.65% |
| East of England | 3.49% | £1,148 | 126.76% | 16.58% |
You may also find it useful to compare the data above to the number of properties sold per month Peterborough experiences. This figure for house sales per month is 94. 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.
Invest in houses for sale in Peterborough with the right professional advice
House for sale in the same UK region
Examine this short list of cities belonging to East of England, the same region where Peterborough is located.
- Broome in East of England
- Kesgrave in East of England
- Weeting in East of England
- Chalton in East of England
- Beeston in East of England
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
A house for sale that is right for you
When browsing houses for sale in Peterborough you should think about lots of different criteria:
-
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
-
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
-
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
-
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
-
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
-
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
-
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
-
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
-
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.
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
Recent Comments