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How much does a house for sale cost in Southampton?

by | Nov 15, 2022

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

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Southampton 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 Hampshire.
Before looking for a house for sale in the city of Southampton 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 Southampton.

Choose the right house for sale that suits your needs

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 Southampton.

  • 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.

In Southampton, what are the demographics like?

Southampton in the county of Hampshire 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 Southampton is located in; South East.

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

What is the city of Southampton’s social grade score?

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 Southampton, the percentage of people in the two highest categories, A and B is 21%. 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 £41,700.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (21%).

In Southampton, how educated are people in general?

Interestingly, the percentage of people who have a degree in the city of Southampton 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 Southampton is £41,700.00.

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.

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

Whether you view green space in Southampton 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 Southampton, the number of acres of green space for every 1000 people currently is 10 which can be measured against the UK average of 1.7.

What is the population of Southampton?

Population growth in Southampton 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 Southampton, 181024 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 Southampton 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 Southampton, this change has been 3%. 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 3%. Click here to know more on the UK population trends.

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

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 9% in Southampton.

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.

Are the people in Southampton earning a lot?

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 (21%). 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 Southampton, this works out to be £41,700.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

What’s crime like in Southampton?

The crime rate of Southampton 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 17800%, 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 (17800%) is both useful and is recommended to be compared to the average.

Are the people of Southampton 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 Southampton is £0.

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

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

Houses for sale, are sold on average in Southampton, after the influence of these factors, at £223,435 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 9% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £343,414
Aerage sold price (semi-detached) £266,592
Aerage sold price (terraced) £226,588
Aerage sold price (flat) £155,619

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

Housing category Sale price per square foot
Aerage sold price/sqft £2,776
Aerage sold price/sqft (new build) £3,344
Aerage sold price/sqft (old stock) £2,694

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 Southampton is £2,866.

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

In Southampton, what are the rental yields?

In Southampton, how has the number of houses changed?

Before committing to Southampton 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
Southampton growth rate 2% 12% 15%

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 Southampton 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 Southampton, 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).

Other cities in different locations you can consider to buy property

We have prepared a list of cities that are entirely dissimilar to the region of South East, perfect if you are looking for somewhere similar to Southampton but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.

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

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

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

When investors make offers for houses for sale in Southampton, the average price asked by the homeowners works out to be £262,442.

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 Southampton 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.

Average prices for the houses for sale in Southampton

Average asking price (1 bed) £146,218
Average asking price (2 bed) £221,056
Average asking price (3 bed) £327,056
Average asking price (4 bed) £416,828
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Southampton is £1,302. This should show you the general prices overall and for individual types of houses too.

F.A.Q.

Do properties in Southampton offer renovation potential?

Amidst the urban landscape of Southampton, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 5 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (181024).

On a monthly basis, how many property transactions take place in Southampton?

The city of Southampton sees around 19 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

What’s the year-over-year population change in Southampton or similar cities?

For a comprehensive analysis of Southampton’s population trends, observe the population fluctuation over a decade, indicated by 9%, and the five-year alteration represented by 3%. Perhaps also look at data from another nearby city too so you can see a comparison.

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

Currently, the mean asking price of a house in Southampton is £1,302, calculated using the average value per square foot

Is a house for sale in Southampton an expensive choice?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Southampton, this stands at £223,435, whereas the UK’s mean is £286,500.

Find an estate agent in the city of Southampton

In order to buy a house in Southampton you might need the service of an estate agent. To simplify the pain of looking for the nearest agent we have built a list of estate agents in your area, taking you straight to their website

Estate agent Contact number Address of agent Email
Edison Green Estate Agents 442382349425 46 Oxford Street, Hampshire, Southampton, SO14 3DP Phone number only
Field Palmer 442380422600 249 PEARTREE AVE Phone number only
Tenant Direct 442380332230 14 New Road nan
MYA Lettings 442380332288 104-108 Bevois Valley Road Natascha Manley (natascha@mya-letting.co.uk)
Chiswell & Co nan 4 Terrace Road Lisa Chiswell (lisa@chiswellandco.com)

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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.

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