Peterborough – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Peterborough – What to look for in houses for sale?

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.