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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 Bon-y-maen, Swansea.
From the average asking price of houses for sale in Bon-y-maen, to the growth of the population in the area, all will be talked about regarding the city of Bon-y-maen. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
On average, what is the figure for the asking price of a house for sale in Bon-y-maen?
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Bon-y-maen is £152,851.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Bon-y-maen is useful when negotiating and knowing what to expect for every type of house for sale.
Average prices for the houses for sale in Bon-y-maen
| Average asking price (1 bed) | £123,302 |
| Average asking price (2 bed) | £150,627 |
| Average asking price (3 bed) | £153,944 |
| Average asking price (4 bed) | £280,966 |
| 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 Bon-y-maen is £0. This should show you the general prices overall and for individual types of houses too.
In general, what do houses for sale sell for in Bon-y-maen?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Bon-y-maen. In Bon-y-maen, this sale price works out to be £124,465. As an example, a factor like population growth over the last 10 years which works out to be 4% in Bon-y-maen and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £171,464 |
| Average sold price (semi-detached) | £127,921 |
| Average sold price (terraced) | £113,869 |
| Average sold price (flat) | £128,455 |
Above, the exact type of house is also shown to vary in price in a table in Bon-y-maen. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
| Housing category | Sale price per square foot |
|---|---|
| Average sold price/sqft | £1,420 |
| Average sold price/sqft (new build) | £1,940 |
| Average sold price/sqft (old stock) | £1,330 |
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Bon-y-maen which is £1,420. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Invest in houses for sale in Bon-y-maen with the right professional advice
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Why you should consider the average rental yield when searching for houses for sale in Bon-y-maen
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Bon-y-maen.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Swansea) as well as the broader region; Wales.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Bon-y-maen | £0 | £841 | £1 | £0 |
| Swansea | 5.20% | £1,122.00 | 131.00% | 22.17% |
| Wales | 0.04 | 861.19 | £1 | 14.84% |
Also, you can compare other data to the table above such as the number of houses sold per month in Bon-y-maen which is 32 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Bon-y-maen is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Bon-y-maen?
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 Bon-y-maen at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Bon-y-maen growth rate | 9% | 12% | 17% |
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 Bon-y-maen 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 Bon-y-maen.
houses for sale in other cities and regions in the UK
You can consult our list below that goes over a list of cities not necessarily in Wales, allowing you to find similar places to Bon-y-maen:
- bellsquarry in Wales
- abercrombie in Wales
- ainderby-quernhow in Wales
- aberchirder in Wales
- blackpool in Wales
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
Finding the ideal house for sale for you
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 Bon-y-maen.
- 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.
What are the demographics like in the city of Bon-y-maen?
What is the population of Bon-y-maen?
The city of Bon-y-maen has a total population of 47397. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Bon-y-maen is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Bon-y-maen
Over time, in the last five years, the population of the city of Bon-y-maen has changed by 2%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 2% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Bon-y-maen?
In the last 10 years, there has been a shift in the population of 4%.
Comparing this to the 5 year figure of Bon-y-maen can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
What’s crime like in Bon-y-maen?
The crime rate of Bon-y-maen 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 20600%, 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 (20600%) is both useful and is recommended to be compared to the average.
Located in Swansea is the city of Bon-y-maen, in a large part of the UK; Wales. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Bon-y-maen has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Bon-y-maen which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What is a social grade score and how does this relate to Bon-y-maen?
In the city of Bon-y-maen, the social grade score of the area is 11%. 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 Bon-y-maen.
| 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 |
Are the deprivation levels of the UK any different to Bon-y-maen?
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 £0 for Bon-y-maen should give you a nice idea of the deprivation in the area.
Is there sufficient green space in Bon-y-maen?
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 Bon-y-maen, the city has 7 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 Bon-y-maen.
What is the education level like in Bon-y-maen?
The number of people as a percentage who have been through university and gained a degree is 20%. The ability to buy a home is greatly influenced by the number of people who have degrees. £28,200.00 is the amount people in Bon-y-maen 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 Bon-y-maen, 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.
Are the people in Bon-y-maen earning a lot?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Bon-y-maen. Compare the area’s average household income of £28,200.00 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 11% for more conclusive data on the affluence of the area.
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