Bishopston can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Bishopston.
On top of this, keep reading for detailed information on the demographics of Bishopston in Swansea. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
Why you should consider the average rental yield when searching for houses for sale in Bishopston
Are there more or fewer houses being built in Bishopston?
The growth of an area like Bishopston can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Bishopston growth rate||7%||29%||35%|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Bishopston if you want to find out the exact reasons for the housing change.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Bishopston this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (Wales) alongside Swansea then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Bishopston.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Bishopston.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (49) will be useful.
What are the demographics like in the city of Bishopston?
How much do people in Bishopston earn?
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 (36%). 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 Bishopston, this works out to be £47,250. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Bishopston, 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 Swansea for example.
These demographics for Bishopston 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 Bishopston in Wales.
In Bishopston, how educated are people in general?
In Bishopston, the proportion of people who have a degree is 37%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Bishopston is £47,250.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
Is the city of Bishopston 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 Bishopston should give you a nice idea of the deprivation in the area.
What’s crime like in Bishopston?
In Bishopston, for every 1000 people, there is currently a crime rate of 75. 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 (75 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.
Is there sufficient green space in Bishopston?
In the city of Bishopston, there are 33.7 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Bishopston is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is the social grade score of Bishopston?
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 Bishopston, the percentage of people in the two highest categories, A and B is 36%. 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 £47,250. This income will generally get bigger as the percentage of people in the A and B categories go up too (36%).
Have the people of Bishopston grown in numbers?
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 Bishopston is 66,717.
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 Bishopston.
In Bishopston, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. 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 Bishopston 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 (3%) 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.
Bishopston population difference over 10 years?
The population has adjusted in the area of Bishopston by 7% 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 Bishopston.
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.
What are the asking prices for the houses for sale in the city of Bishopston?
In the city of Bishopston, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£217,000|
|Average asking price (2 bed)||£292,457|
|Average asking price (3 bed)||£403,300|
|Average asking price (4 bed)||£573,960|
|Average asking price (5 bed)||£747,425|
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 £2,195. 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 Bishopston has a lack of supply of housing in certain categories.
When speaking about the city of Bishopston, £425,389 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 Bishopston.
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 general, for the city of Bishopston, what are the final purchase prices for the houses for sale?
In Bishopston, houses for sale are sold at an average of £338,329. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Bishopston. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£435,773|
|Aerage sold price (semi-detached)||£310,132|
|Aerage sold price (terraced)||£319,623|
|Aerage sold price (flat)||£205,541|
As you can see above, for Bishopston, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 7% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,250|
|Aerage sold price/sqft (new build)||£3,070|
|Aerage sold price/sqft (old stock)||£3,115|
Looking at the second table about Bishopston, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Bishopston is £3,395.
Get professional help on the houses for sale in Bishopston
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.
Finding the ideal house for sale for you
What parameters impact the final price of a house for sale in Bishopston?
Here below is our list with the most important ones:
- House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
- House Location – the actual location of a house for sale drastically changes the final price of a property
- Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
- Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
- Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
- Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
- Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
- Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
- Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
Thinking about other cities with houses for sale?
See here below a list of cities in the same UK region of Bishopston which is Wales. You might want to consider these as alternatives for your next real estate investment:
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.