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How much does a house for sale cost in Sheffield?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much does a house for sale cost in Sheffield?

Sheffield 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 Sheffield.

On top of this, keep reading for detailed information on the demographics of Sheffield in South Yorkshire. 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 final sale price of a house in Sheffield?

For the city of Sheffield, the average price a house sells for is £211,296. This value usually depends on the exact location of the house within Sheffield as well as other factors like the population growth in Sheffield which is 7% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £416,509
Aerage sold price (semi-detached) £221,557
Aerage sold price (terraced) £172,242
Aerage sold price (flat) £143,858

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 Sheffield.

Housing category Sale price per square foot
Aerage sold price/sqft £2,275
Aerage sold price/sqft (new build) £2,130
Aerage sold price/sqft (old stock) £2,131

Generalising the bottom table, the average value per square foot of a house for sale is £2,311. This value averages all of the types of houses for sale in Sheffield. 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 Sheffield.

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

Average price of houses for sale in Sheffield

Average asking price (1 bed) £119,994
Average asking price (2 bed) £186,698
Average asking price (3 bed) £251,008
Average asking price (4 bed) £425,171
Average asking price (5 bed) £653,000

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 (£859) for houses for sale with this table to get a good idea as to whether Sheffield is the right area to buy a house in for you.

When investors make offers for houses for sale in Sheffield, the average price asked by the homeowners works out to be £249,055.

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 Sheffield 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.

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

What is the growth in the housing market of Sheffield?

Before committing to Sheffield to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Sheffield growth rate 3% 14% 23%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Sheffield is building housing to find your answer.

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 Sheffield. 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 Sheffield.

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 (South Yorkshire), a regional level (East Midlands) and finally on the level of the city talked about in this article, Sheffield.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Sheffield 4.4% £797 83% 20.2%
South Yorkshire 4.41% £714 106.44% 22.07%
East Midlands 4.02% £775 113.13% 19.44%

You may also find it useful to compare the data above to the number of properties sold per month Sheffield experiences. This figure for house sales per month is 106. 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 Sheffield, what are the demographics like?

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

In the city of Sheffield, 32% 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 Sheffield is £43,070. 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.

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

The crime rate of Sheffield 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 155, 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 (155) is both useful and is recommended to be compared to the average.

How much do people in Sheffield earn?

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 Sheffield, this works out to be £43,070. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Sheffield in the county of South Yorkshire 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 Sheffield is located in; East Midlands.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Sheffield, 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.

Are the people of Sheffield 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 Sheffield is 24%.

What’s a social grade score and how does it relate to Sheffield?

In the city of Sheffield, the social grade score of the area is 26%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Sheffield.

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

In the city of Sheffield, how much green space remains for residents?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Sheffield, the city has 14.3 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Sheffield.

What does the population of Sheffield look like?

In total, the number of people in Sheffield is 173,390. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Sheffield, depending on where exactly you are.

How has Sheffield changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Sheffield has changed by 4%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 4% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Sheffield?

7% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Sheffield have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

Get professional help on the houses for sale in Sheffield

Other cities you can consider looking for with houses for sale

See here below a list of cities in the same UK region of Sheffield which is East Midlands. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

A house for sale that is right for you

Many criteria impact the price of houses for sale in Sheffield.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

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