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 Cowes, Isle of Wight.
From the average asking price of houses for sale in Cowes, to the growth of the population in the area, all will be talked about regarding the city of Cowes. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Get professional help on the houses for sale in Cowes
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
A house for sale that is right for you
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 Cowes.
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.
In Cowes, what is the asking price in general for a house for sale?
Average prices for the houses for sale in Cowes
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£223,964|
|Average asking price (3 bed)||£305,657|
|Average asking price (4 bed)||£645,526|
|Average asking price (5 bed)||no relevant data for this city|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Cowes and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Cowes determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £302,940.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Cowes.
What are the people like in Cowes?
What is the population of Cowes?
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 Cowes is 22,551.
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 Cowes.
In Cowes, 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 Cowes 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.
Cowes population difference over 10 years?
The population has adjusted in the area of Cowes 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 Cowes.
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 Cowes, what are the deprivation levels like?
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 Cowes is 23%.
The city of Cowes, situated in Isle of Wight, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Cowes and its demographics will be compared to its wider location (South 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 Cowes. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In Cowes, what is the crime rate?
In Cowes, for every 1000 people, there is currently a crime rate of 66. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (66 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
Is the education level of Cowes important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 25%. The ability to buy a home is greatly influenced by the number of people who have degrees. £40,600 is the amount people in Cowes are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Cowes, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
What’s a social grade score and how does it relate to Cowes?
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 Cowes in grades A or B which are the highest skilled roles in the country is 21%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £40,600 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 21%.
How much are those living in Cowes earning?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Cowes, the average income is £40,600. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 21% to decide on what the demographics are like in the area.
Is there sufficient green space in Cowes?
Whether you view green space in Cowes as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Cowes, the number of acres of green space for every 1000 people currently is 12.6 which can be measured against the UK average of 1.7.
In general, what do houses for sale sell for in Cowes?
In Cowes, the average sale price of a house for sale is in fact £224,212. This is dependent on the 10 year population growth of Cowes being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Cowes.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£309,890|
|Aerage sold price (semi-detached)||£217,257|
|Aerage sold price (terraced)||£184,926|
|Aerage sold price (flat)||£160,335|
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 Cowes.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,565|
|Aerage sold price/sqft (new build)||£2,735|
|Aerage sold price/sqft (old stock)||£2,410|
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 £2,565. This means if you are just looking out the houses sold in Cowes in general and didn’t take into consideration the type of build. For example, a new build.
Always consider average rental yield when searching for houses for sale in Cowes
Is the housing market in Cowes growing?
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 Cowes at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Cowes growth rate||5%||22%||25%|
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 Cowes 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 Cowes.
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 Cowes.
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)|
|Cowes||3.2%||£950||no relevant data for this city||15.0%|
|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 Cowes which is 22 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 Cowes is to invest in. Both in terms of rental yield and capital appreciation.
Thinking about other cities with houses for sale?
Examine this short list of cities belonging to South East, the same region where Cowes is located.
- Cippenham in South East
- Ashe in South East
- Chineham in South East
- Chestfield in South East
- Bagnor in South East
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.