Peterborough – What to look for in houses for sale?

Whenever looking for a house for sale in the UK or in Peterborough, it is vital you look at the market trends and house price fluctuations in the wider area of Cambridgeshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Peterborough.

In this article, we will be looking at the city of Peterborough in detail so you know how to navigate the area and have a better understanding on where to invest.

How are rental yields of the houses for sale different to the rest of the UK in Peterborough?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Peterborough, currently, £0 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 and how much you can charge for rent in your ast (assured tenancy shorthold).

What is the growth in the housing market of Peterborough?

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:

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.

Invest in houses for sale in Peterborough with the right professional advice

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

• Banks – The ones that can lend you the money you need for the house for sale
• Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
• Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
• Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
• Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
• EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

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

Average price of houses for sale in Peterborough

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.

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 Peterborough is £341,361.

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 Peterborough is useful when negotiating and knowing what to expect for every type of house for sale.

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 East of England, allowing you to find similar places to Peterborough:

• brill in East of England
• milngavie in East of England
• achahoish in East of England
• attenborough in East of England
• auchenhalrig in East of England

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

Are there any important statistics about the population of Peterborough?

How educated are the people in Peterborough?

In the city of Peterborough, 27% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Peterborough is £48,850.00. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

Located in Cambridgeshire is the city of Peterborough, in a large part of the UK; East of England. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Peterborough has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Peterborough which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

In Peterborough, what is the 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 Peterborough in grades A or B which are the highest skilled roles in the country is 26%.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £48,850.00 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 26%.

What’s the crime rate in Peterborough?

Within Peterborough, the number of people committing crimes is 7500% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 7500% figure carefully.

Do the people of Peterborough get to enjoy green space?

Whether you view green space in Peterborough 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 Peterborough, the number of acres of green space for every 1000 people currently is 19 which can be measured against the UK average of 1.7.

How much are those living in Peterborough earning?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £48,850.00.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Peterborough this figure is 26%.

Have the people of Peterborough 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 Peterborough if 109120 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 Peterborough such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Peterborough by 2%. 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 2% 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 Peterborough?

In the last decade, the population of Peterborough has been adjusted by 6%. 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.

Are the people of Peterborough deprived?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of £0 for Peterborough should give you a nice idea of the deprivation in the area.

In general, what do houses for sale sell for in Peterborough?

As well as looking at the asking price for house for sale in Peterborough, 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 Peterborough.

Houses for sale, are sold on average in Peterborough, after the influence of these factors, at £280,405 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 6% over the last 10 years.

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

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 Peterborough is £2,875.

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

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 Peterborough

• 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.