As a landlord, whenever you are looking at houses for sale in Suffolk, you could find varying prices throughout an area like Akenham. 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 Akenham 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 Akenham will be revealed. Keep reading.
What is the final sale price of a house in Akenham?
For the city of Akenham, the average price a house sells for is £207,201. This value usually depends on the exact location of the house within Akenham as well as other factors like the population growth in Akenham which is 3% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£348,351|
|Aerage sold price (semi-detached)||£222,191|
|Aerage sold price (terraced)||£172,330|
|Aerage sold price (flat)||£126,073|
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 Akenham.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,360|
|Aerage sold price/sqft (new build)||£2,600|
|Aerage sold price/sqft (old stock)||£2,260|
Generalising the bottom table, the average value per square foot of a house for sale is £2,710. This value averages all of the types of houses for sale in Akenham. 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 Akenham.
What are the people like in Akenham?
How much are those living in Akenham earning?
While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.
£40,300 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 15% for Akenham.
How much green space is available to residents of Akenham?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Akenham currently has 6.7 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Akenham in this case.
In Akenham, what is the social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Akenham in grades A or B which are the highest skilled roles in the country is 15%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £40,300 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 15%.
For the city of Akenham, what is the education level?
In the city of Akenham, 20% 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 Akenham is £40,300.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What’s crime like in Akenham?
Within Akenham, the number of people committing crimes is 138 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 138 figure carefully.
The city of Akenham, situated in Suffolk, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Akenham and its demographics will be compared to its wider location (East of England). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Akenham. So, taking a good look at the data is essential to understand the area you are considering to buy in.
How deprived is the population of Akenham?
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 28% for Akenham should give you a nice idea of the deprivation in the area.
What does the population of Akenham look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Akenham if 39,363 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Akenham such as rental yield or house appreciation.
How has the population size of Akenham adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Akenham by -1%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this -1% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Akenham?
In the last decade, the population of Akenham has been adjusted by 3%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Why you should consider the average rental yield when searching for houses for sale in Akenham
Is the housing market in Akenham 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 Akenham that shows the growth in recent years.
|1 year||3 years||5 years|
|Akenham growth rate||-5%||7%||18%|
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 Akenham 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 Akenham to Suffolk and the broader suburb of the UK; East of England.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|East of England||3.49%||£1,148||126.76%||16.58%|
Let’s assume you want to sell the house you’re looking to buy in Akenham for profit in the future, in this case, looking at the data for the number of houses sold per month in Akenham would give you an idea of whether the area is actively getting new investors. This figure is 34.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Akenham. 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.
In Akenham, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of Akenham
|Average asking price (1 bed)||£120,896|
|Average asking price (2 bed)||£184,867|
|Average asking price (3 bed)||£275,112|
|Average asking price (4 bed)||£411,370|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Akenham, 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 £3,050 will help them to have a more wholistic understanding.
When speaking about the city of Akenham, £243,264 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 Akenham.
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.