Looking for your next home or investment?

We partner with the best agents to help you find your dream house. We also partner with Strike to help you sell your property if you are moving out

Find your dream property:

See properties for sale

Sell your property with Strike:

Get a free valuation

Our customers trust our expertise

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?

We help you find the right agent

At lofti we want to simplify your life and help you buy, sell or rent your property. We have assembled all the agent in Sheffield to help you find the perfect agent for you

Download the directory

Whenever looking for a house for sale in the UK or in Sheffield, it is vital you look at the market trends and house price fluctuations in the wider area of South Yorkshire 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 Sheffield.

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

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

In Sheffield, the average sale price of a house for sale is in fact £211,296. This is dependent on the 10 year population growth of Sheffield being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Sheffield.

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 list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in 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

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £2,311. This means if you are just looking out the houses sold in Sheffield in general and didn’t take into consideration the type of build. For example, a new build.

Always consider average rental yield when searching for houses for sale in Sheffield

Are there more or fewer houses being built in 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.

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Sheffield, 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).

Who can help you buy a house for sale in Sheffield?

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.

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

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

After looking at this table about prices of houses for sale in Sheffield, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £859 will help them to have a more holistic understanding.

On average, in Sheffield, the asking price for a house for sale in the area is £249,055.

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 Sheffield. 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.

Finding the ideal house for sale 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.

What are the people like in Sheffield?

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

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Sheffield, the percentage of people in the two highest categories, A and B is 26%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £43,070.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (26%).

In Sheffield, how educated are people in general?

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. £43,070.00 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 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 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.

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 £0.

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, 173390 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.

What’s the crime rate in Sheffield?

In Sheffield, for every 1000 people, there is currently a crime rate of 15470%. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (15470% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

In the city of Sheffield, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of South Yorkshire for example.

These demographics for Sheffield may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Sheffield in East Midlands.

What salary does the community in Sheffield take home?

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 £43,070.00.

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 Sheffield this figure is 26%.

houses for sale in other cities and regions in the UK

Below is a list of towns that differ from Sheffield.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to East Midlands:

If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.

FAQ

Do properties in Sheffield have the potential for renovation?

If planning permissions are abundant in the vicinity of Sheffield, it may look promising for landlords looking to renovate. With 3 getting approved on a monthly basis, and a success rate of nan, these prospects flourish against a population of 173390. A comparative analysis against other locations across the UK will lend you a good perspective of this data.

How many property sales occur per month in Sheffield?

In Sheffield, the monthly property transaction count reaches 4, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

What’s the annual population shift in a city such as Sheffield?

To assess the shifts in Sheffield’s population over time, analyse how the population has altered. Look at the ten year change of population of 7%, alongside the five-year change of 4%.

prices for houses on sale in the broader vicinity of Sheffield?

The average cost per square foot for a house in Sheffield is presently £859.

Is purchasing a house in Sheffield considered a costly decision?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Sheffield, this stands at £211,296, whereas the UK’s mean is £286,500.

Grab the latest property news, tailored for landlords

Viral, succinct and crucial information, straight to your inbox, every week

donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *