How much will you pay for a house for sale in Bon-y-maen?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much will you pay for a house for sale in Bon-y-maen?

As a landlord, whenever you are looking at houses for sale in Swansea, you could find varying prices throughout an area like Bon-y-maen. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Bon-y-maen to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Bon-y-maen will be revealed. Keep reading.

In general, for the city of Bon-y-maen, what are the final purchase prices for the houses for sale?

In Bon-y-maen, the average sale price of a house for sale is in fact £124,465. This is dependent on the 10 year population growth of Bon-y-maen being 4%. Growing populations are more likely to inflate the prices of houses for sale in the city of Bon-y-maen.

Housing category Total final sale price
Aerage sold price (detached) £171,464
Aerage sold price (semi-detached) £127,921
Aerage sold price (terraced) £113,869
Aerage sold price (flat) £128,455

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Bon-y-maen.

Housing category Sale price per square foot
Aerage sold price/sqft £1,420
Aerage sold price/sqft (new build) £1,940
Aerage sold price/sqft (old stock) £1,330

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £1,420. This means if you are just looking out the houses sold in Bon-y-maen in general and didn’t take into consideration the type of build. For example, a new build.

In Bon-y-maen, what are the demographics like?

In Bon-y-maen, how has the population changed?

Population growth in Bon-y-maen 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 Bon-y-maen, 47,397 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 Bon-y-maen 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 Bon-y-maen, this change has been 2%. 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 2%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Bon-y-maen?

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 4% in Bon-y-maen.

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.

How much green space is available to residents of Bon-y-maen?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Bon-y-maen, 7.0 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Bon-y-maen.

What’s crime like in Bon-y-maen?

For the city of Bon-y-maen, crime rate is at 206. So for every 1000 people in the area, 206 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

In Bon-y-maen, how educated are people in general?

Interestingly, the percentage of people who have a degree in the city of Bon-y-maen is 20%. 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 Bon-y-maen is £28,200.

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.

Bon-y-maen within Swansea is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Bon-y-maen will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Wales). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Bon-y-maen.

How much are those living in Bon-y-maen earning?

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 (11%). 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 Bon-y-maen, this works out to be £28,200. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Are the people of Bon-y-maen 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 37% for Bon-y-maen should give you a nice idea of the deprivation in the area.

What is the social grade score of Bon-y-maen?

In the city of Bon-y-maen and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Bon-y-maen has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 11%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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

What are the asking prices for the houses for sale in the city of Bon-y-maen?

On average, in Bon-y-maen, the asking price for a house for sale in the area is £152,851.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Bon-y-maen. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Average price of 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

After looking at this table about prices of houses for sale in Bon-y-maen, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.

Why you should consider the average rental yield when searching for houses for sale in Bon-y-maen

Is the housing market in Bon-y-maen growing?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Bon-y-maen that shows the growth in recent years.

1 year 3 years 5 years
Bon-y-maen growth rate 9% 12% 17%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Bon-y-maen is important.

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Bon-y-maen to Swansea and the broader suburb of the UK; Wales.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bon-y-maen 6.6% £841 122% 15.0%
Swansea 5.20% £1,122 131.00% 22.17%
Wales 4.28% £861 133.18% 14.84%

Let’s assume you want to sell the house you’re looking to buy in Bon-y-maen for profit in the future, in this case, looking at the data for the number of houses sold per month in Bon-y-maen would give you an idea of whether the area is actively getting new investors. This figure is 24.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Bon-y-maen. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.