Whenever looking for a house for sale in the UK or in Gaywood, it is vital you look at the market trends and house price fluctuations in the wider area of Norfolk too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Gaywood.
In this article, we will be looking at the city of Gaywood in detail so you know how to navigate the area and have a better understanding on where to invest.
Other cities in different locations you can consider to buy property
If you are looking for similar places to buy a house that are just like Gaywood, examine this short list of cities below from outside of the region of East of England for some inspiration.
- bedford-park in East of England
- badenscoth in East of England
- ashburton in East of England
- gaywood in East of England
- dickens-heath in East of England
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
How are rental yields of the houses for sale different to the rest of the UK in Gaywood?
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 Gaywood this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East of England) alongside Norfolk 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 Gaywood.
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)|
|East of England||0.03||1,148.32||£1||16.58%|
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 Gaywood.
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 (28) will be useful.
In Gaywood, how has the number of houses changed?
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 Gaywood that shows the growth in recent years.
|1 year||3 years||5 years|
|Gaywood growth rate||3%||9%||25%|
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 Gaywood is important.
Are there any important statistics about the population of Gaywood?
Are the deprivation levels of the UK any different to Gaywood?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Gaywood, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Do the people of Gaywood get to enjoy green space?
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 Gaywood currently has 10 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 Gaywood in this case.
How much do people in Gaywood earn?
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.
£40,000.00 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 14% for Gaywood.
What is the city of Gaywood’s social grade score?
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 Gaywood, the percentage of people in the two highest categories, A and B is 14%. 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 £40,000.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (14%).
What is the education level like in Gaywood?
In Gaywood, the proportion of people who have a degree is 17%. 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 Gaywood is £40,000.00.
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.
In the city of Gaywood, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Gaywood if 43995 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 Gaywood such as rental yield or house appreciation.
How has the population size of Gaywood adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Gaywood by no relevant data for this city. 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 no relevant data for this city 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 Gaywood?
In the last decade, the population of Gaywood 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.
Is the crime rate bad in the city of Gaywood?
For every one thousand people living in Gaywood, 13300% commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 13300% is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
The city of Gaywood, situated in Norfolk, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Gaywood 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 Gaywood. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What is the asking price on average of houses for sale in Gaywood?
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 Gaywood is £234,319.
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 Gaywood is useful when negotiating and knowing what to expect for every type of house for sale.
Average prices for the houses for sale in Gaywood
|Average asking price (1 bed)||£113,571|
|Average asking price (2 bed)||£173,584|
|Average asking price (3 bed)||£232,777|
|Average asking price (4 bed)||£396,176|
|Average asking price (5 bed)||£438,750|
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Gaywood is the right area to buy a house in for you.
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Gaywood?
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.
In general, for the city of Gaywood, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Gaywood, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Gaywood.
Houses for sale, are sold on average in Gaywood, after the influence of these factors, at £189,674 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£274,953|
|Aerage sold price (semi-detached)||£187,773|
|Aerage sold price (terraced)||£147,014|
|Aerage sold price (flat)||£102,230|
This table above shows the average sale price for each variation of houses for sale in Gaywood.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,140|
|Aerage sold price/sqft (new build)||£2,340|
|Aerage sold price/sqft (old stock)||£2,030|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Gaywood is £2,140.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Who can help you buy a house for sale in Gaywood?
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city