As a landlord, whenever you are looking at houses for sale in Norfolk, you could find varying prices throughout an area like Weeting. 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 Weeting 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 Weeting will be revealed. Keep reading.
Asking price in Weeting for a house for sale
Average asking prices for houses for sale in Weeting
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£215,000|
|Average asking price (3 bed)||£273,857|
|Average asking price (4 bed)||£348,000|
|Average asking price (5 bed)||no relevant data for this city|
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 Weeting is the right area to buy a house in for you.
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 Weeting is £255,833.
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 Weeting is useful when negotiating and knowing what to expect for every type of house for sale.
How are rental yields of the houses for sale different to the rest of the UK in Weeting?
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 Weeting.
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)|
|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 Weeting which is 23 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 Weeting is to invest in. Both in terms of rental yield and capital appreciation.
In Weeting, how has the number of houses changed?
The growth of an area like Weeting can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Weeting growth rate||6%||17%||25%|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Weeting if you want to find out the exact reasons for the housing change.
What are the people like in Weeting?
Weeting in the county of Norfolk is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Weeting is located in; East of England.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Weeting, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
What is the education level like in Weeting?
In the city of Weeting, 14% 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 Weeting is £36,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In Weeting, what is the social grade score?
In the city of Weeting, the social grade score of the area is 10%. 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 Weeting.
|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|
Are the deprivation levels of the UK any different to Weeting?
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 25% for Weeting should give you a nice idea of the deprivation in the area.
How much do people in Weeting earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Weeting, the average income is £36,600. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 10% to decide on what the demographics are like in the area.
What is the population of Weeting?
Population growth in Weeting 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 Weeting, 19,015 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 Weeting 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 Weeting, this change has been 1%. 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 1%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Weeting?
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 6% in Weeting.
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.
What’s crime like in Weeting?
For the city of Weeting, crime rate is at 61. So for every 1000 people in the area, 61 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 the city of Weeting, is there a lot of green space?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Weeting, the city has 9.0 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Weeting.
What is the final sale price of a house in Weeting?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Weeting. In Weeting, this sale price works out to be £197,856. As an example, a factor like population growth over the last 10 years which works out to be 6% in Weeting and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£224,793|
|Average sold price (semi-detached)||£178,952|
|Average sold price (terraced)||£169,908|
|Average sold price (flat)||£93,550|
Above, the exact type of house is also shown to vary in price in a table in Weeting. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,350|
|Average sold price/sqft (new build)||£1,780|
|Average sold price/sqft (old stock)||£2,310|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Weeting which is £2,350. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Get professional help on the houses for sale in Weeting
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
Invest in a house for sale that meets your demands
Many criteria impact the price of houses for sale in Weeting.
Here below are the most important ones according to Lofti’s expertise:
Affordability – (see what house for sale can you afford?)
A guide from the UK government
House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Weeting.
Reading these analysis will help you evaluate the different houses for sale currently listed in East of England:
- Beyton in East of England
- Birdbrook in East of England
- Capel-St-Mary in East of England
- Aslacton in East of England
- St-Albans in East of England
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.