As a landlord, whenever you are looking at houses for sale in Berkshire, you could find varying prices throughout an area like Wokingham. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Wokingham to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Wokingham will be revealed. Keep reading.
Finding the ideal house for sale 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 Wokingham.
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.
Who can help you buy a house for sale in Wokingham?
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Why you should consider the average rental yield when searching for houses for sale in Wokingham
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 Wokingham.
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 (Berkshire) as well as the broader region; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Wokingham||3.9%||£1,467||no relevant data for this city||30.0%|
Also, you can compare other data to the table above such as the number of houses sold per month in Wokingham which is 20 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 Wokingham is to invest in. Both in terms of rental yield and capital appreciation.
Is the housing market in Wokingham growing?
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 Wokingham that shows the growth in recent years.
|1 year||3 years||5 years|
|Wokingham growth rate||no relevant data for this city||15%||8%|
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 Wokingham is important.
Other cities you can consider looking for with houses for sale
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 Wokingham:
- Burgess-Hill in South East
- Blackfield in South East
- Kemsley in South East
- Emsworth in South East
- Freefolk in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
On average, what is the figure for the asking price of a house for sale in Wokingham?
Average price of houses for sale in Wokingham
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£289,723|
|Average asking price (3 bed)||£466,906|
|Average asking price (4 bed)||£607,170|
|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 Wokingham has a lack of supply of housing in certain categories.
When speaking about the city of Wokingham, £457,054 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 Wokingham 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.
In general, what do houses for sale sell for in Wokingham?
In Wokingham, houses for sale are sold at an average of £394,693. 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 Wokingham. 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)||£524,334|
|Aerage sold price (semi-detached)||£400,984|
|Aerage sold price (terraced)||£347,100|
|Aerage sold price (flat)||£240,573|
As you can see above, for Wokingham, 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 13% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,940|
|Aerage sold price/sqft (new build)||£3,680|
|Aerage sold price/sqft (old stock)||£4,040|
Looking at the second table about Wokingham, 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 Wokingham is £3,940.
What are the people like in Wokingham?
In Wokingham, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Wokingham is 32%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Wokingham is £59,100.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
What salary does the community in Wokingham take home?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £59,100.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Wokingham this figure is 33%.
The city of Wokingham, situated in Berkshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Wokingham 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 Wokingham. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What does the population of Wokingham look like?
The city of Wokingham has a total population of 25,444. 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 Wokingham 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 Wokingham
Over time, in the last five years, the population of the city of Wokingham has changed by 8%. 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 8% 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 Wokingham?
In the last 10 years, there has been a shift in the population of 13%.
Comparing this to the 5 year figure of Wokingham 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.
What is the social grade score of Wokingham?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Wokingham, the percentage of people in the two highest categories, A and B is 33%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £59,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (33%).
How much green space is available to residents of Wokingham?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Wokingham currently has 28.0 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Wokingham in this case.
Is the city of Wokingham deprived?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Wokingham is 17% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
In Wokingham, what is the crime rate?
In Wokingham, for every 1000 people, there is currently a crime rate of 46. 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 (46 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.