Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Alverstone, Isle of Wight.
From the average asking price of houses for sale in Alverstone to the growth of the population in the area, all will be talked about regarding the city of Alverstone. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
How are rental yields of the houses for sale different to the rest of the UK in Alverstone?
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Alverstone.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Isle of Wight) as well as the broader region; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Alverstone||2.8%||£767||no relevant data for this city||12.0%|
|Isle of Wight||3.34%||£898||140.00%||14.33%|
Also, you can compare other data to the table above such as the number of houses sold per month in Alverstone which is 16 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Alverstone is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Alverstone?
The growth of an area like Alverstone can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Alverstone growth rate||6%||28%||34%|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Alverstone if you want to find out the exact reasons for the housing change.
What are the demographics like in the city of Alverstone?
What is the population of Alverstone?
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 Alverstone is 16,640.
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 Alverstone.
In Alverstone, 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 Alverstone 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.
Alverstone population difference over 10 years?
The population has adjusted in the area of Alverstone 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 Alverstone.
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 Alverstone, how educated are people in general?
In Alverstone, the proportion of people who have a degree is 17%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Alverstone is £33,100.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
What salary does the community in Alverstone 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 Alverstone. Compare the area’s average household income of £33,100 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.
In the city of Alverstone, how much green space remains for residents?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Alverstone, the city has 16.1 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Alverstone.
What is the city of Alverstone’s social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Alverstone in grades A or B which are the highest skilled roles in the country is 14%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £33,100 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 14%.
Are the deprivation levels of the UK any different to Alverstone?
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 Alverstone, in particular, the deprivation levels are 30%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Alverstone within Isle of Wight is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Alverstone will be looked at by comparing it to the local region, as well as comparing it to the wider region too (South East). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Alverstone.
In Alverstone, what is the crime rate?
For every one thousand people living in Alverstone, 104 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 104 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 general, for the city of Alverstone, what are the final purchase prices for the houses for sale?
In Alverstone, houses for sale are sold at an average of £225,393. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Alverstone. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£276,796|
|Aerage sold price (semi-detached)||£209,294|
|Aerage sold price (terraced)||£174,000|
|Aerage sold price (flat)||£123,138|
As you can see above, for Alverstone, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 3% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,440|
|Aerage sold price/sqft (new build)||£3,090|
|Aerage sold price/sqft (old stock)||£2,330|
Looking at the second table about Alverstone, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Alverstone is £2,440.
What is the asking price on average of houses for sale in Alverstone?
On average, in Alverstone, the asking price for a house for sale in the area is £326,888.
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 Alverstone. 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.
In the city of Alverstone, 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)||£239,084|
|Average asking price (3 bed)||£344,737|
|Average asking price (4 bed)||£480,313|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Alverstone is £0. This should show you the general prices overall and for individual types of houses too.
Professional advice for houses for sale in Alverstone
Finding the ideal house for sale for you
Many criteria impact the price of houses for sale in Alverstone.
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.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
House for sale in the same UK region
You can assess the various houses for sale offered in the area by consulting this list of cities in South East, the same UK region as Alverstone:
- Greywell in South East
- Barham in South East
- Abinger-Common in South East
- Godstone in South East
- Cold-Ash in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK