Gaywood 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 Gaywood.
On top of this, keep reading for detailed information on the demographics of Gaywood in Norfolk. 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.
On average, what is the figure for the asking price of a house for sale in Gaywood?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Gaywood determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £234,319.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Gaywood.
Average asking prices for 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 |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Gaywood and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
Always consider average rental yield when searching for houses for sale in Gaywood
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.
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 in to all the details of Gaywood.
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 (Norfolk) as well as the broader region; East of England.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Gaywood | 3.9% | £762 | 74% | 21.0% |
| Norfolk | 3.75% | £975 | 117.20% | 16.23% |
| East of England | 3.49% | £1,148 | 126.76% | 16.58% |
Also, you can compare other data to the table above such as the number of houses sold per month in Gaywood which is 33 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 Gaywood is to invest in. Both in terms of rental yield and capital appreciation.
Are there new houses being built in Gaywood to make it grow?
Whenever you are thinking about looking for houses for sale in Gaywood, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Gaywood growth rate | 3% | 9% | 25% |
As the population of Gaywood grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
In Gaywood, what are the demographics like?
Are the people of Gaywood deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Gaywood is 29%.
In Gaywood, how educated are people in general?
The number of people as a percentage who have been through university and gained a degree is 17%. The ability to buy a home is greatly influenced by the number of people who have degrees. £40,000 is the amount people in Gaywood 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 Gaywood, 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.
In Gaywood, how has the population changed?
In total, the number of people in Gaywood is 43,995. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Gaywood, depending on where exactly you are.
How has Gaywood changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Gaywood has changed by no relevant data for this city. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if no relevant data for this city is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Gaywood?
3% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Gaywood have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
What salary does the community in Gaywood take home?
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 Gaywood. Compare the area’s average household income of £40,000 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 14% for more conclusive data on the affluence of the area.
What’s a social grade score and how does it relate to Gaywood?
In the city of Gaywood, the social grade score of the area is 14%. 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 Gaywood.
| 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 |
In general, do people commit a lot of crime in Gaywood?
In Gaywood, for every 1000 people, there is currently a crime rate of 133. 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 (133 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.
Do the people of Gaywood get to enjoy green space?
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 Gaywood, 9.8 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 Gaywood.
Gaywood within Norfolk is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Gaywood will be looked at by comparing it to the local region, as well as comparing it to the wider region too (East of England). 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 Gaywood.
In Gaywood, what do houses for sale tend to sell for?
For the city of Gaywood, the average price a house sells for is £189,674. This value usually depends on the exact location of the house within Gaywood as well as other factors like the population growth in Gaywood which is 3% over a ten-year period.
| 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 |
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 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 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,140. This value averages all of the types of houses for sale in Gaywood. 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 Gaywood.
Get professional help on the houses for sale in Gaywood
Invest in a house for sale that meets your demands
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 Gaywood.
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Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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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
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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.
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
Other cities you can consider looking for with houses for sale
You can assess the various houses for sale offered in the area by consulting this list of cities in East of England, the same UK region as Gaywood:
- Alpington in East of England
- Ashwicken in East of England
- Chalton in East of England
- Bardfield-Saling in East of England
- Bedfield in East of England
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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