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 Royal Tunbridge Wells, Kent.
From the average asking price of houses for sale in Royal Tunbridge Wells, to the growth of the population in the area, all will be talked about regarding the city of Royal Tunbridge Wells. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
houses for sale in other cities in the UK
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 Royal Tunbridge Wells:
- Bells-Yew-Green in South East
- Chelwood-Gate in South East
- Benson in South East
- Bisley in South East
- Portsmouth in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Why you should consider the average rental yield when searching for houses for sale in Royal Tunbridge Wells
In Royal Tunbridge Wells, how has the number of houses changed?
Before committing to Royal Tunbridge Wells to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Royal Tunbridge Wells growth rate | -6% | 7% | 17% |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Royal Tunbridge Wells is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Royal Tunbridge Wells to Kent and the broader suburb of the UK; South East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Royal Tunbridge Wells | 4.0% | £1,074 | 140% | 13.0% |
| Kent | 3.63% | £1,229 | 130.16% | 16.77% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
Let’s assume you want to sell the house you’re looking to buy in Royal Tunbridge Wells for profit in the future, in this case, looking at the data for the number of houses sold per month in Royal Tunbridge Wells would give you an idea of whether the area is actively getting new investors. This figure is 12.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Royal Tunbridge Wells. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What are the people like in Royal Tunbridge Wells?
What is the population of Royal Tunbridge Wells?
The city of Royal Tunbridge Wells has a total population of 11,929. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Royal Tunbridge Wells is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Royal Tunbridge Wells
Over time, in the last five years, the population of the city of Royal Tunbridge Wells has changed by 2%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 2% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Royal Tunbridge Wells?
In the last 10 years, there has been a shift in the population of 4%.
Comparing this to the 5 year figure of Royal Tunbridge Wells can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
How much do people in Royal Tunbridge Wells earn?
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 Royal Tunbridge Wells. Compare the area’s average household income of £55,000 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 33% for more conclusive data on the affluence of the area.
What is a social grade score and how does this relate to Royal Tunbridge Wells?
In the city of Royal Tunbridge Wells, the social grade score of the area is 33%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Royal Tunbridge Wells.
| 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 educated are the people in Royal Tunbridge Wells?
In the city of Royal Tunbridge Wells, 39% 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 Royal Tunbridge Wells is £55,000. 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.
Is there sufficient green space in Royal Tunbridge Wells?
In the city of Royal Tunbridge Wells, there are 6.3 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Royal Tunbridge Wells is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In Royal Tunbridge Wells, what is the crime rate?
For the city of Royal Tunbridge Wells, crime rate is at 144. So for every 1000 people in the area, 144 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.
The city of Royal Tunbridge Wells, situated in Kent, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Royal Tunbridge Wells 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 Royal Tunbridge Wells. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Is the city of Royal Tunbridge Wells deprived?
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 Royal Tunbridge Wells, in particular, the deprivation levels are 18%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Who can help you buy a house for sale in Royal Tunbridge Wells?
Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.
Here is a list of who to contact to get assistance when purchasing a house for sale:
- Banks – The ones that can lend you the money you need for the house for sale
- Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
- Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
- Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
- Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
- EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.
What is the asking price on average of houses for sale in Royal Tunbridge Wells?
The average asking price for the houses for sale in the city of Royal Tunbridge Wells
| Average asking price (1 bed) | £214,667 |
| Average asking price (2 bed) | £331,155 |
| Average asking price (3 bed) | £632,500 |
| Average asking price (4 bed) | £824,545 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£4,560) for houses for sale with this table to get a good idea as to whether Royal Tunbridge Wells is the right area to buy a house in for you.
When investors make offers for houses for sale in Royal Tunbridge Wells, the average price asked by the homeowners works out to be £325,004.
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 Royal Tunbridge Wells 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 is the final sale price of a house in Royal Tunbridge Wells?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Royal Tunbridge Wells. In Royal Tunbridge Wells, this sale price works out to be £351,843. As an example, a factor like population growth over the last 10 years which works out to be 4% in Royal Tunbridge Wells and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £884,844 |
| Average sold price (semi-detached) | £479,499 |
| Average sold price (terraced) | £445,583 |
| Average sold price (flat) | £235,893 |
Above, the exact type of house is also shown to vary in price in a table in Royal Tunbridge Wells. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
| Housing category | Sale price per square foot |
|---|---|
| Average sold price/sqft | £4,300 |
| Average sold price/sqft (new build) | £4,890 |
| Average sold price/sqft (old stock) | £4,210 |
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Royal Tunbridge Wells which is £4,430. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
A house for sale that is right for you
What parameters impact the final price of a house for sale in Royal Tunbridge Wells?
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.
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