Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Teesside, Yorkshire.
From the average asking price of houses for sale in Teesside to the growth of the population in the area, all will be talked about regarding the city of Teesside. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
How are rental yields of the houses for sale different to the rest of the UK in Teesside?
Are there more or fewer houses being built in Teesside?
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 Teesside at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Teesside growth rate||1%||6%||9%|
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 Teesside 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 Teesside.
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 Teesside. 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 Teesside.
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 (Yorkshire), a regional level (North East) and finally on the level of the city talked about in this article, Teesside.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
You may also find it useful to compare the data above to the number of properties sold per month Teesside experiences. This figure for house sales per month is 407. 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.
On average, what is the figure for the asking price of a house for sale in Teesside?
Average price of houses for sale in Teesside
|Average asking price (1 bed)||£54,227|
|Average asking price (2 bed)||£112,139|
|Average asking price (3 bed)||£154,704|
|Average asking price (4 bed)||£282,999|
|Average asking price (5 bed)||£436,112|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Teesside is £0. This should show you the general prices overall and for individual types of houses too.
When speaking about the city of Teesside, £168,162 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Teesside.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
In Teesside, what do houses for sale tend to sell for?
For the city of Teesside, the average price a house sells for is £140,820. This value usually depends on the exact location of the house within Teesside as well as other factors like the population growth in Teesside which is 2% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£220,999|
|Aerage sold price (semi-detached)||£132,412|
|Aerage sold price (terraced)||£96,012|
|Aerage sold price (flat)||£82,922|
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 Teesside.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,455|
|Aerage sold price/sqft (new build)||£1,649|
|Aerage sold price/sqft (old stock)||£1,366|
Generalising the bottom table, the average value per square foot of a house for sale is £1,455. This value averages all of the types of houses for sale in Teesside. 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 Teesside.
What kind of demographics does the city of Teesside have?
Is the education level of Teesside important when buying a house?
In the city of Teesside, 19% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Teesside is £34,395.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What salary does the community in Teesside take home?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Teesside, the average income is £34,395. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 15% to decide on what the demographics are like in the area.
In the city of Teesside, 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 Teesside, the city has 18.8 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 Teesside.
What’s crime like in Teesside?
In Teesside, for every 1000 people, there is currently a crime rate of 173. 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 (173 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 Teesside, how has the population changed?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Teesside is 505,242.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Teesside.
In Teesside, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 1%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Teesside is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (1%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Teesside population difference over 10 years?
The population has adjusted in the area of Teesside by 2% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Teesside.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
In Teesside, what is the social grade score?
In the city of Teesside, the social grade score of the area is 15%. 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 Teesside.
|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 Teesside, 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 Yorkshire for example.
These demographics for Teesside 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 Teesside in North East.
Are the deprivation levels of the UK any different to Teesside?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Teesside, currently, 30% 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.
Advice from experts on properties for sale in Teesside
Finding the ideal house for sale for you
When browsing houses for sale in Teesside you should think about lots of different criteria:
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
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.
House for sale in the same UK region
Examine this short list of cities belonging to North East, the same region where Teesside is located.
- Bebside in North East
- Carleton in North East
- Catterton in North East
- Agglethorpe in North East
- Great-Preston in North East
If none of these is of your interest, we suggest you visit our landing page with all data related to the 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