As a landlord, whenever you are looking at houses for sale in Surrey, you could find varying prices throughout an area like East Molesey. 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 East Molesey 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 East Molesey will be revealed. Keep reading.
What’s the rental yield in general for the city of East Molesey?
Are there more or fewer houses being built in East Molesey?
Before committing to East Molesey to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| East Molesey growth rate | 10% | 8% | 15% |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate East Molesey is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares East Molesey to Surrey and the broader suburb of the UK; Greater London.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| East Molesey | 3.4% | £1,695 | no relevant data for this city | 15.0% |
| Surrey | 3.38% | £1,657 | 117.61% | 16.05% |
| Greater London | 3.88% | £1,899 | 129.14% | 13.30% |
Let’s assume you want to sell the house you’re looking to buy in East Molesey for profit in the future, in this case, looking at the data for the number of houses sold per month in East Molesey would give you an idea of whether the area is actively getting new investors. This figure is 18.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in East Molesey. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What is the final sale price of a house in East Molesey?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in East Molesey. In East Molesey, this sale price works out to be £536,188. As an example, a factor like population growth over the last 10 years which works out to be 5% in East Molesey and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £952,019 |
| Average sold price (semi-detached) | £595,430 |
| Average sold price (terraced) | £450,818 |
| Average sold price (flat) | £339,713 |
Above, the exact type of house is also shown to vary in price in a table in East Molesey. 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 | £5,560 |
| Average sold price/sqft (new build) | £5,920 |
| Average sold price/sqft (old stock) | £5,460 |
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 East Molesey which is £5,560. 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.
Asking price in East Molesey for a house for sale
When investors make offers for houses for sale in East Molesey, the average price asked by the homeowners works out to be £592,840.
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 East Molesey 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 East Molesey
| Average asking price (1 bed) | £276,336 |
| Average asking price (2 bed) | £474,233 |
| Average asking price (3 bed) | £617,883 |
| Average asking price (4 bed) | £957,895 |
| 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 East Molesey is the right area to buy a house in for you.
In East Molesey, what are the demographics like?
Are the deprivation levels of the UK any different to East Molesey?
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 East Molesey, in particular, the deprivation levels are 16%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In East Molesey, how educated are people in general?
In the city of East Molesey, 38% 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 East Molesey is £55,700. 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.
Is the crime rate bad in the city of East Molesey?
The crime rate of East Molesey 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 82, 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 (82) is both useful and is recommended to be compared to the average.
How much green space is available to residents of East Molesey?
In the city of East Molesey, there are 90.0 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where East Molesey is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
The city of East Molesey, situated in Surrey, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of East Molesey and its demographics will be compared to its wider location (Greater London). 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 East Molesey. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What is the city of East Molesey’s social grade score?
In the city of East Molesey, the social grade score of the area is 33%. 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 East Molesey.
| 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 |
How much do people in East Molesey 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.
£55,700 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 33% for East Molesey.
In East Molesey, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of East Molesey if 19,484 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 East Molesey such as rental yield or house appreciation.
How has the population size of East Molesey adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of East Molesey by 1%. 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 1% 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 East Molesey?
In the last decade, the population of East Molesey has been adjusted by 5%. 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.
Invest in houses for sale in East Molesey with the right professional advice
A house for sale that is right for you
Many criteria impact the price of houses for sale in East Molesey.
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.
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
houses for sale in other cities in the UK
Examine this short list of cities belonging to Greater London, the same region where East Molesey is located.
- Earlsfield in Greater London
- Newbury-Park in Greater London
- Notting-Hill in Greater London
- Greenwich in Greater London
- Lea-Bridge in Greater London
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Recent Comments