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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 Isle of Wight, Isle of Wight.
From the average asking price of houses for sale in Isle of Wight, to the growth of the population in the area, all will be talked about regarding the city of Isle of Wight. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Isle of Wight, what are the demographics like?
Are the people in Isle of Wight earning a lot?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (22%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Isle of Wight, this works out to be £34,400.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
What is the social grade score of Isle of Wight?
In the city of Isle of Wight 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 Isle of Wight has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 22%.
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 |
Is the education level of Isle of Wight 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. £34,400.00 is the amount people in Isle of Wight 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 Isle of Wight, 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 the crime rate in Isle of Wight?
In Isle of Wight, for every 1000 people, there is currently a crime rate of 6967%. 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 (6967% 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.
In the city of Isle of Wight, 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 Isle of Wight, the city has 12 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 Isle of Wight.
Located in Isle of Wight is the city of Isle of Wight, in a large part of the UK; South East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Isle of Wight has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Isle of Wight which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
What is the population of Isle of Wight?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Isle of Wight if 13743 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 Isle of Wight such as rental yield or house appreciation.
How has the population size of Isle of Wight adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Isle of Wight by 2%. 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 2% 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 Isle of Wight?
In the last decade, the population of Isle of Wight has been adjusted by 3%. 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.
Are the deprivation levels of the UK any different to Isle of Wight?
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 Isle of Wight is £0.
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Isle of Wight?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
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Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
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Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
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Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
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Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
How are rental yields of the houses for sale different to the rest of the UK in Isle of Wight?
Are there more or fewer houses being built in Isle of Wight?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Isle of Wight that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Isle of Wight growth rate | 4% | 33% | 39% |
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Isle of Wight is important.
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 Isle of Wight. 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 Isle of Wight.
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 (Isle of Wight), a regional level (South East) and finally on the level of the city talked about in this article, Isle of Wight.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Isle of Wight | no relevant data for this city | no relevant data for this city | no relevant data for this city | £0 |
| Isle of Wight | 3.34% | £897.60 | 140.00% | 14.33% |
| South East | 0.04 | 1,300.68 | £1 | 16.69% |
You may also find it useful to compare the data above to the number of properties sold per month Isle of Wight 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.
What are the asking prices for the houses for sale in the city of Isle of Wight?
When speaking about the city of Isle of Wight, £402,938 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Isle of Wight would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Table showing the asking prices for houses for sale in Isle of Wight
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | £226,212 |
| Average asking price (3 bed) | £360,420 |
| Average asking price (4 bed) | £533,073 |
| Average asking price (5 bed) | no relevant data for this city |
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Isle of Wight has a lack of supply of housing in certain categories.
Get professional help on the houses for sale in Isle of Wight
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
In Isle of Wight, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Isle of Wight, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Isle of Wight.
Houses for sale, are sold on average in Isle of Wight, after the influence of these factors, at £295,880 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £356,874 |
| Aerage sold price (semi-detached) | £265,590 |
| Aerage sold price (terraced) | £246,189 |
| Aerage sold price (flat) | £193,889 |
This table above shows the average sale price for each variation of houses for sale in Isle of Wight.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,820 |
| Aerage sold price/sqft (new build) | £1,553 |
| Aerage sold price/sqft (old stock) | £2,650 |
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Isle of Wight is £2,820.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Thinking of a different city and perhaps a different location?
If you are looking for similar places to buy a house that are just like Isle of Wight, examine this short list of cities below from outside of the region of South East for some inspiration.
- greenholm in South East
- beckingham in South East
- boscastle in South East
- beaconsfield in South East
- caldy in South East
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.
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