Westley might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Suffolk.
Before looking for a house for sale in the city of Westley we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Westley.
Asking price in Westley for a house for sale
When speaking about the city of Westley, £340,585 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 Westley.
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.
Average asking prices for houses for sale in Westley
|Average asking price (1 bed)||£173,995|
|Average asking price (2 bed)||£272,753|
|Average asking price (3 bed)||£357,249|
|Average asking price (4 bed)||£587,375|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Westley 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.
Are there any important statistics about the population of Westley?
How much do people in Westley earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (24%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Westley, this works out to be £44,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the education level of Westley important when buying a house?
In the city of Westley, 30% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Westley is £44,000. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
Have the people of Westley grown in numbers?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Westley is 24,394.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Westley.
In Westley, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 0%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Westley is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (0%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Westley population difference over 10 years?
The population has adjusted in the area of Westley by 5% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Westley.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
What’s crime like in Westley?
The crime rate of Westley must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 125, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (125) is both useful and is recommended to be compared to the average.
Westley in the county of Suffolk 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 Westley 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 Westley, 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.
In the city of Westley, how much green space remains for residents?
Whether you view green space in Westley 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 Westley, the number of acres of green space for every 1000 people currently is 17.0 which can be measured against the UK average of 1.7.
What’s a social grade score and how does it relate to Westley?
In the city of Westley and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Westley has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 24%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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 Westley, what are the deprivation levels like?
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 Westley, in particular, the deprivation levels are 19%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Always consider average rental yield when searching for houses for sale in Westley
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 Westley this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East of England) alongside Suffolk 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 Westley.
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||3.49%||£1,148||126.76%||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 Westley.
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 (20) will be useful.
Are there more or fewer houses being built in Westley?
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 Westley that shows the growth in recent years.
|1 year||3 years||5 years|
|Westley growth rate||3%||11%||13%|
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 Westley is important.
In general, for the city of Westley, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Westley, 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 Westley.
Houses for sale, are sold on average in Westley, after the influence of these factors, at £281,232 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)||£402,297|
|Aerage sold price (semi-detached)||£279,036|
|Aerage sold price (terraced)||£259,591|
|Aerage sold price (flat)||£180,773|
This table above shows the average sale price for each variation of houses for sale in Westley.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,140|
|Aerage sold price/sqft (new build)||£3,040|
|Aerage sold price/sqft (old stock)||£3,100|
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 Westley is £3,140.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.