Wylam can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Wylam.
On top of this, keep reading for detailed information on the demographics of Wylam in Northumberland. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.
Always consider average rental yield when searching for houses for sale in Wylam
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 Wylam. 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 Wylam.
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 (Northumberland), a regional level (North East) and finally on the level of the city talked about in this article, Wylam.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Wylam||no relevant data for this city||no relevant data for this city||no relevant data for this city||18.0%|
You may also find it useful to compare the data above to the number of properties sold per month Wylam experiences. This figure for house sales per month is 2. 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.
Are there more or fewer houses being built in Wylam?
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 Wylam at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Wylam growth rate||no relevant data for this city||no relevant data for this city||no relevant data for this city|
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 Wylam 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 Wylam.
In general, what do houses for sale sell for in Wylam?
In Wylam, the average sale price of a house for sale is in fact £262,457. This is dependent on the 10 year population growth of Wylam being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Wylam.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£360,222|
|Aerage sold price (semi-detached)||£305,868|
|Aerage sold price (terraced)||£239,521|
|Aerage sold price (flat)||£180,792|
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 Wylam.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,430|
|Aerage sold price/sqft (new build)||£2,620|
|Aerage sold price/sqft (old stock)||£2,400|
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 £2,430. This means if you are just looking out the houses sold in Wylam in general and didn’t take into consideration the type of build. For example, a new build.
What are the people like in Wylam?
Are the people of Wylam deprived?
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 29% for Wylam should give you a nice idea of the deprivation in the area.
In the city of Wylam, is there a lot of green space?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Wylam currently has 87.1 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Wylam in this case.
What is the social grade score of Wylam?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Wylam, the percentage of people in the two highest categories, A and B is 48%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £44,600. This income will generally get bigger as the percentage of people in the A and B categories go up too (48%).
In general, do people commit a lot of crime in Wylam?
For the city of Wylam, crime rate is at 75. So for every 1000 people in the area, 75 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.
How much do people in Wylam 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.
£44,600 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 48% for Wylam.
Is the education level of Wylam important when buying a house?
In the city of Wylam, 23% 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 Wylam is £44,600.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
The city of Wylam, situated in Northumberland, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Wylam and its demographics will be compared to its wider location (North East). 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 Wylam. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What does the population of Wylam look like?
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 Wylam is 2,076.
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 Wylam.
In Wylam, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 2%. 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 Wylam 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 (2%) 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.
Wylam population difference over 10 years?
The population has adjusted in the area of Wylam by 3% 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 Wylam.
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.
In Wylam, what is the asking price in general for a house for sale?
When investors make offers for houses for sale in Wylam, the average price asked by the homeowners works out to be £388,846.
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 Wylam 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.
In the city of Wylam, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
After looking at this table about prices of houses for sale in Wylam, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.