fbpx

What is it like buying a house in East Meon?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the South East $ What is it like buying a house in East Meon?

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 East Meon, Hampshire.

From the average asking price of houses for sale in East Meon to the growth of the population in the area, all will be talked about regarding the city of East Meon. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

In East Meon, what are the rental yields?

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 East Meon. 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 East Meon.

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 (Hampshire), a regional level (South East) and finally on the level of the city talked about in this article, East Meon.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
East Meon 2.4% £1,095 140% 7.0%
Hampshire 3.67% £1,199 129.21% 20.71%
South East 3.58% £1,301 127.50% 16.69%

You may also find it useful to compare the data above to the number of properties sold per month East Meon experiences. This figure for house sales per month is 5. 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 growth in the housing market of East Meon?

The growth of an area like East Meon 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
East Meon growth rate -8% -1% 12%

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 East Meon if you want to find out the exact reasons for the housing change.

In East Meon, what do houses for sale tend to sell for?

For the city of East Meon, the average price a house sells for is £417,504. This value usually depends on the exact location of the house within East Meon as well as other factors like the population growth in East Meon which is 8% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £640,047
Aerage sold price (semi-detached) £422,427
Aerage sold price (terraced) £346,394
Aerage sold price (flat) £194,633

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 East Meon.

Housing category Sale price per square foot
Aerage sold price/sqft £4,210
Aerage sold price/sqft (new build) £4,060
Aerage sold price/sqft (old stock) £4,070

Generalising the bottom table, the average value per square foot of a house for sale is £4,210. This value averages all of the types of houses for sale in East Meon. 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 East Meon.

Asking price in East Meon for a house for sale

The average asking price for the houses for sale in the city of East Meon

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £345,625
Average asking price (3 bed) £558,659
Average asking price (4 bed) £826,786
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in East Meon, 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 East Meon, the average price asked by the homeowners works out to be £546,714.

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 East Meon 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.

What are the people like in East Meon?

Are the people of East Meon 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 East Meon is 15%.

Is the education level of East Meon important when buying a house?

In East Meon, the proportion of people who have a degree is 38%. 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 East Meon is £51,600.

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 does the population of East Meon 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 East Meon is 12,114.

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 East Meon.

In East Meon, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 4%. 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 East Meon 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 (4%) 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.

East Meon population difference over 10 years?

The population has adjusted in the area of East Meon by 8% 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 East Meon.

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 the city of East Meon, 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 Hampshire for example.

These demographics for East Meon 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 East Meon in South East.

In the city of East Meon, is there a lot of green space?

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 East Meon, 70.3 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 East Meon.

What is the city of East Meon’s social grade score?

In the city of East Meon and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of East Meon has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 32%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

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

How much do people in East Meon 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.

£51,600 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 32% for East Meon.

In East Meon, what is the crime rate?

For the city of East Meon, crime rate is at 79. So for every 1000 people in the area, 79 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.

Professional advice for houses for sale in East Meon

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 East Meon:

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

Invest in a house for sale that meets your demands

Find here below a list of criteria that we suggest you consider before looking for houses for sale in East Meon

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

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

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *