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House prices between Newcastle and Birmingham - Essay Example

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Summary
Newcastle is one of the largest cities in the UK, it has more than 500 shops in the city centre. Newcastle is famous in sport and it has one of the biggest stadiums in the UK; the St James’s park, home for…
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House prices between Newcastle and Birmingham
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Introduction Houses prices in Newcastle are more expensive than Birmingham. Newcastle is one of the largest cities in the UK, it has more than 500 shops in the city centre. Newcastle is famous in sport and it has one of the biggest stadiums in the UK; the St James’s park, home for Newcastle United football team. The thing about Newcastle is that you can see the mixture between the old and traditional buildings and the modern buildings which gives the city a beautiful view, it also known by its famous bridge and river which it called the Tyne Bridge. Newcastle is popular by its major universities which they are Newcastle University and Northumbria University. Famous places that are recommended to visit are The Millenium Bridge, The Quayside, and Theatre Royal.
Birmingham is the UK’s second largest city. And one of the most greenest city in the UK, it also has a major university called University of Birmingham its known as one of the best universities in the UK. Birmingham is famous by its big and beautiful theatre the Birmingham Hippodrome.
For this project I collected secondary data by websites and I looked at 30 houses prices and the difference between two different cities
Property prices in Birmingham
Properties in Birmingham
 
Type of house
Bedrooms
Price
1
detached house
4
£ 650,000
2
semi-detached house
5
£ 650,000
3
semi-detached house
6
£ 665,000
4
detached house
5
£ 675,000
5
detached house
6
£ 695,000
6
detached house
6
£ 699,950
7
detached house
6
£ 720,000
8
detached house
8
£ 750,000
9
detached house
4
£ 775,000
10
detached house
5
£ 795,000
11
detached house
5
£ 820,000
12
detached house
6
£ 825,000
13
detached house
4
£ 850,000
14
detached house
5
£ 875,000
15
detached house
5
£ 890,000
16
detached house
4
£ 899,000
17
semi-detached house
4
£ 925,000
18
detached house
5
£ 985,000
19
detached house
6
£ 995,000
20
detached house
6
£ 1,200,000
21
detached house
7
£ 1,250,000
22
detached house
8
£ 1,330,000
23
detached house
8
£ 1,450,000
24
detached house
6
£ 1,675,000
25
detached house
8
£ 1,700,000
26
detached house
6
£ 1,800,000
27
detached house
10
£ 1,995,000
28
detached house
6
£ 2,000,000
29
detached house
9
£ 2,100,000
30
detached house
8
£ 2,300,000
mean
£ 1,131,298
median
£ 894,500
Property prices in Newcastle
Type of house
Bedrooms
Price
semi-detached house
6
£ 650,000
detached house
5
£ 700,000
detached house
5
£ 740,000
detached house
5
£ 745,000
detached house
4
£ 750,000
detached house
4
£ 760,000
detached house
4
£ 765,000
detached house
4
£ 795,000
detached house
4
£ 800,000
semi-detached house
5
£ 825,000
semi-detached house
5
£ 845,000
semi-detached house
5
£ 850,000
detached house
5
£ 895,000
detached house
6
£ 899,950
terraced
6
£ 900,000
semi-detached house
6
£ 925,000
detached house
6
£ 950,000
detached house
5
£ 975,000
detached house
6
£ 995,000
bungalow
2
£ 1,000,000
detached house
4
£ 1,100,000
terraced
7
£ 1,195,000
detached house
7
£ 1,250,000
semi-detached house
7
£ 1,275,000
detached house
6
£ 1,490,000
semi-detached house
8
£ 1,500,000
semi-detached house
6
£ 1,600,000
terraced
5
£ 1,845,000
detached house
5
£ 1,999,500
detached house
6
£ 2,995,000
mean
£ 1,100,482
median
£ 925,000
A review of the data from Birmingham and Newcastle reveals a significant difference in the types of houses available in both cities. In Birmingham, most houses have 6 bedrooms while in Newcastle, most houses have 5 bedrooms.
Unlike Birmingham, Newcastle has a higher variety in types of houses available. Besides, semi-detached and detached houses, there are bungalow s and terraced houses available in the market. Demand for detached and semi-detached houses however, is high in both towns.
The data from the two cities is relatively similar in terms of house availability in relation to price. Cheap houses are readily available while the expensive ones are hardly available.
Median = £ 900,000
Upper quartile range= £ 1,325,000
Lower quartile range= £ 725,000
Inter-quartile range= 1,325,000 – 725,000 = £ 600,000
Median= £ 925,000
Upper quartile range= £ 1,100,000
Lower quartile range= £ 600,000
Inter-quartile range= 1,100,000- 600,000 = £ 500,000
Grouped Frequency table for Birmingham
Frequency
Mid-Point
Fx Mid-Point
Fx Mid-Point x Mid-Point
500000
1000000
19
750000
14250000
1.06875E+13
1000000
1500000
4
1250000
5000000
6.25E+12
1500000
2000000
4
1750000
7000000
1.225E+13
2000000
2500000
3
2250000
6750000
1.51875E+13
Total
30
Total
£33,000,000
4.4375E+13
Grouped Frequency table for Newcastle
Frequency
Mid-Point
Fx Mid-Point
Fx Mid-Point x Mid-Point
500000
1000000
19
750000
14250000
1.0688E+13
1000000
1500000
6
1250000
7500000
9.375E+12
1500000
2000000
4
1750000
7000000
1.225E+13
2000000
2500000
0
2250000
0
0
2500000
3000000
1
2750000
2750000
7.5625E+12
Total
30
Total
£31,500,000
3.9875E+13
Summary table of results
Birmingham
Newcastle
Comments
Range
£ 650,000 - £ 2,300,000
£ 650,000 - £ 2,995,000
Raw data Mean
£ 1,131,298
£ 1,100,482
Raw data Median
£ 894,500
£ 925,000
Mean from the frequency table
£1,100,000
£ 1,050,000
Median from the frequency table
£ 900,000
Standard deviation
£518,812.75
£476,095
Upper Quartile
£ 1,325,000
£ 1,100,000
Lower Quartile
£ 725,000
£ 600,000
Inter-quartile range
£ 600,000
£ 500,000
Mode bedrooms
6
5
Mode type of property
Detached houses
Detached houses Read More
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