As a landlord, whenever you are looking at houses for sale in Lancashire, you could find varying prices throughout an area like Abbey Village. 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 Abbey Village 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 Abbey Village will be revealed. Keep reading.
Always consider average rental yield when searching for houses for sale in Abbey Village
Is the housing market in Abbey Village growing?
Whenever you are thinking about looking for houses for sale in Abbey Village, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Abbey Village growth rate||-6%||5%||5%|
As the population of Abbey Village grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
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 Abbey Village. 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 Abbey Village.
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 (Lancashire), a regional level (North West) and finally on the level of the city talked about in this article, Abbey Village.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Abbey Village||3.5%||£718||no relevant data for this city||23.0%|
You may also find it useful to compare the data above to the number of properties sold per month Abbey Village experiences. This figure for house sales per month is 30. 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.
What is the final sale price of a house in Abbey Village?
For the city of Abbey Village, the average price a house sells for is £186,273. This value usually depends on the exact location of the house within Abbey Village as well as other factors like the population growth in Abbey Village which is 12% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£283,178|
|Aerage sold price (semi-detached)||£162,468|
|Aerage sold price (terraced)||£127,706|
|Aerage sold price (flat)||£118,097|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Abbey Village.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,950|
|Aerage sold price/sqft (new build)||£2,330|
|Aerage sold price/sqft (old stock)||£1,850|
Generalising the bottom table, the average value per square foot of a house for sale is £1,950. This value averages all of the types of houses for sale in Abbey Village. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Abbey Village.
Are there any important statistics about the population of Abbey Village?
How much do people in Abbey Village earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £42,100.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Abbey Village this figure is 27%.
In the city of Abbey Village, 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 Abbey Village currently has 31.3 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 Abbey Village in this case.
What is the city of Abbey Village’s social grade score?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Abbey Village compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Abbey Village, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 27%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|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 Abbey Village, how educated are people in general?
In the city of Abbey Village, 28% 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 Abbey Village is £42,100. 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.
In the city of Abbey Village, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Lancashire for example.
These demographics for Abbey Village may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Abbey Village in North West.
Are the people of Abbey Village deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Abbey Village is 22%.
In Abbey Village, 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 Abbey Village if 34,630 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 Abbey Village such as rental yield or house appreciation.
How has the population size of Abbey Village adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Abbey Village by 5%. 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 5% 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 Abbey Village?
In the last decade, the population of Abbey Village has been adjusted by 12%. 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.
What’s the crime rate in Abbey Village?
For every one thousand people living in Abbey Village, 89 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 89 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In Abbey Village, what is the asking price in general for a house for sale?
Average price of houses for sale in Abbey Village
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£157,046|
|Average asking price (3 bed)||£222,166|
|Average asking price (4 bed)||£375,303|
|Average asking price (5 bed)||£673,332|
After looking at this table about prices of houses for sale in Abbey Village, 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.
When investors make offers for houses for sale in Abbey Village, the average price asked by the homeowners works out to be £248,996.
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 Abbey Village 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.
Who can help you buy a house for sale in Abbey Village?
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
Are you considering other cities with houses for sale?
We have prepared a list of cities in North West, the same UK region of Abbey Village that can help you evaluate the different houses for sale listed in the region:
- Bury in North West
- Disley in North West
- Carrington in North West
- Ashley in North West
- Hoylake in North West
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
A house for sale that is right for you
Many criteria impact the price of houses for sale in Abbey Village.
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.