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What is it like buying a house in Rayleigh?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East of England $ What is it like buying a house in Rayleigh?

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 Rayleigh, Essex.

From the average asking price of houses for sale in Rayleigh to the growth of the population in the area, all will be talked about regarding the city of Rayleigh. 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 Rayleigh?

When investors make offers for houses for sale in Rayleigh, the average price asked by the homeowners works out to be £436,707.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Rayleigh is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Table showing the asking prices for houses for sale in Rayleigh

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £355,760
Average asking price (3 bed) £423,608
Average asking price (4 bed) £577,092
Average asking price (5 bed) £737,500

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 (£4,150) for houses for sale with this table to get a good idea as to whether Rayleigh is the right area to buy a house in for you.

In Rayleigh, what are the rental yields?

Are there new houses being built in Rayleigh to make it grow?

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 Rayleigh at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Rayleigh growth rate 3% 14% 20%

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 Rayleigh 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 Rayleigh.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Rayleigh. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Rayleigh.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Essex), a regional level (East of England) and finally on the level of the city talked about in this article, Rayleigh.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Rayleigh 3.6% £1,306 no relevant data for this city 17.0%
Essex 3.51% £1,237 125.97% 17.61%
East of England 3.49% £1,148 126.76% 16.58%

You may also find it useful to compare the data above to the number of properties sold per month Rayleigh experiences. This figure for house sales per month is 26. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

What are the demographics like in the city of Rayleigh?

Are the people in Rayleigh earning a lot?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £47,800.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Rayleigh this figure is 26%.

What is the education level like in Rayleigh?

In Rayleigh, the proportion of people who have a degree is 21%. 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 Rayleigh is £47,800.

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.

What is the city of Rayleigh’s 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 Rayleigh in grades A or B which are the highest skilled roles in the country is 26%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £47,800 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 26%.

How deprived is the population of Rayleigh?

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 Rayleigh is 20%.

In the city of Rayleigh, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Essex for example.

These demographics for Rayleigh may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Rayleigh in East of England.

In the city of Rayleigh, is there a lot of green space?

Whether you view green space in Rayleigh as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Rayleigh, the number of acres of green space for every 1000 people currently is 11.9 which can be measured against the UK average of 1.7.

Have the people of Rayleigh grown in numbers?

The city of Rayleigh has a total population of 32,035. 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 Rayleigh 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 Rayleigh

Over time, in the last five years, the population of the city of Rayleigh has changed by 3%. 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 3% 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 Rayleigh?

In the last 10 years, there has been a shift in the population of 5%.

Comparing this to the 5 year figure of Rayleigh 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 Rayleigh?

For every one thousand people living in Rayleigh, 63 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 63 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.

What is the final sale price of a house in Rayleigh?

As well as looking at the asking price for house for sale in Rayleigh, 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 Rayleigh.

Houses for sale, are sold on average in Rayleigh, after the influence of these factors, at £373,510 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 5% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £486,049
Aerage sold price (semi-detached) £350,280
Aerage sold price (terraced) £306,494
Aerage sold price (flat) £205,760

This table above shows the average sale price for each variation of houses for sale in Rayleigh.

Housing category Sale price per square foot
Aerage sold price/sqft £3,880
Aerage sold price/sqft (new build) £3,770
Aerage sold price/sqft (old stock) £3,800

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 Rayleigh is £4,020.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Invest in houses for sale in Rayleigh with the right professional advice

A house for sale appropriate to your needs

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Rayleigh

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Are you considering other cities with houses for sale?

See here below a list of cities in the same UK region of Rayleigh which is East of England. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

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