As a landlord, whenever you are looking at houses for sale in North Yorkshire, you could find varying prices throughout an area like Filey. 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 Filey 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 Filey will be revealed. Keep reading.
What kind of demographics does the city of Filey have?
In the city of Filey, how much green space remains for residents?
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 Filey, 28.7 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 Filey.
What is the social grade score of Filey?
In the city of Filey, 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 Filey.
|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|
What is the education level like in Filey?
In the city of Filey, 20% 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 Filey is £33,000.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What’s the crime rate in Filey?
For the city of Filey, crime rate is at 88. So for every 1000 people in the area, 88 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.
Are the people of Filey deprived?
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 Filey, in particular, the deprivation levels are 29%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Located in North Yorkshire is the city of Filey, in a large part of the UK; North East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Filey has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Filey which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What salary does the community in Filey 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 Filey. Compare the area’s average household income of £33,000 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.
Have the people of Filey grown in numbers?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Filey if 11,291 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 Filey such as rental yield or house appreciation.
How has the population size of Filey adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Filey 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 Filey?
In the last decade, the population of Filey has been adjusted by 0%. 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.
In Filey, what are the rental yields?
Are there new houses being built in Filey 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 Filey at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Filey growth rate||7%||26%||28%|
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 Filey 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 Filey.
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 Filey this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside North Yorkshire 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 Filey.
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)|
|Filey||no relevant data for this city||no relevant data for this city||no relevant data for this city||10.0%|
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 Filey.
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 (13) will be useful.
In general, what do houses for sale sell for in Filey?
In Filey, the average sale price of a house for sale is in fact £173,670. This is dependent on the 10 year population growth of Filey being 0%. Growing populations are more likely to inflate the prices of houses for sale in the city of Filey.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£226,751|
|Aerage sold price (semi-detached)||£160,321|
|Aerage sold price (terraced)||£142,797|
|Aerage sold price (flat)||£121,386|
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Filey.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,030|
|Aerage sold price/sqft (new build)||£2,050|
|Aerage sold price/sqft (old stock)||£1,960|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,030. This means if you are just looking out the houses sold in Filey in general and didn’t take into consideration the type of build. For example, a new build.
In Filey, what is the asking price in general for a house for sale?
Table showing the asking prices for houses for sale in Filey
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£199,565|
|Average asking price (3 bed)||£282,617|
|Average asking price (4 bed)||£335,253|
|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 Filey is the right area to buy a house in for you.
On average, in Filey, the asking price for a house for sale in the area is £248,011.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Filey. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Advice from experts on properties for sale in Filey
houses for sale in other cities in the UK
See here below a list of cities in the same UK region of Filey which is North East. You might want to consider these as alternatives for your next real estate investment:
- Belsay in North East
- Mirfield in North East
- Alverthorpe in North East
- Crockey-Hill in North East
- Appleton-Wiske in North East
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
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
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 Filey.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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.
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.
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.
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.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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
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.