How much does a house for sale cost in Sheffield?

Sheffield might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of South Yorkshire.
Before looking for a house for sale in the city of Sheffield we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Sheffield.

Get professional help on the houses for sale in Sheffield

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

What is the asking price on average of houses for sale in Sheffield?

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.

The average asking price for the houses for sale in the city of Sheffield

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 £859. 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 Sheffield has a lack of supply of housing in certain categories.

House for sale in a different UK region

If you are looking for similar places to buy a house that are just like Sheffield, examine this short list of cities below from outside of the region of East Midlands for some inspiration.

• Bonehill in East Midlands
• Greywell in East Midlands
• Liverpool in East Midlands
• Aberfeldy in East Midlands
• Wellingborough in East Midlands

If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.

In Sheffield, what are the rental yields?

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Sheffield to South Yorkshire and the broader suburb of the UK; East Midlands.

Let’s assume you want to sell the house you’re looking to buy in Sheffield for profit in the future, in this case, looking at the data for the number of houses sold per month in Sheffield would give you an idea of whether the area is actively getting new investors. This figure is 106.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Sheffield. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

Are there more or fewer houses being built in Sheffield?

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 Sheffield 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 Sheffield 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 Sheffield.

What are the people like in Sheffield?

In Sheffield, what is the social grade score?

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 Sheffield 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 Sheffield, 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.

Are the people in Sheffield earning a lot?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£43,070 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 26% for Sheffield.

What is the education level like in Sheffield?

The number of people as a percentage who have been through university and gained a degree is 32%. The ability to buy a home is greatly influenced by the number of people who have degrees. £43,070 is the amount people in Sheffield are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Sheffield, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

Is the city of Sheffield 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 24% for Sheffield should give you a nice idea of the deprivation in the area.

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.

In Sheffield, how has the population changed?

Population growth in Sheffield is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Sheffield, 173,390 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Sheffield in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Sheffield, this change has been 4%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 4%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Sheffield?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 7% in Sheffield.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

Is there sufficient green space in Sheffield?

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’s crime like in Sheffield?

For every one thousand people living in Sheffield, 155 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 155 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

In Sheffield, what do houses for sale tend to sell for?

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 which is 7% over a ten-year period.

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.

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.

Invest in a house for sale that meets your demands

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Sheffield.

• Affordability – check this article from the UK government to find out (see what house for sale you can afford)

• Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.

• Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.

• Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.

• EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.

• Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale

• Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month

• Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.