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What is it like buying a house in Alcombe?

As a landlord, whenever you are looking at houses for sale in Somerset, you could find varying prices throughout an area like Alcombe. 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 Alcombe 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 Alcombe will be revealed. Keep reading.

What are the people like in Alcombe?

For the city of Alcombe, what is the education level?

In the city of Alcombe, 23% 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 Alcombe is £33,000. 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.

The city of Alcombe, situated in Somerset, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Alcombe and its demographics will be compared to its wider location (South West). 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 Alcombe. So, taking a good look at the data is essential to understand the area you are considering to buy in.

Have the people of Alcombe grown in numbers?

In total, the number of people in Alcombe is 18,659. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Alcombe, depending on where exactly you are.

How has Alcombe changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Alcombe has changed by 5%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 5% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Alcombe?

7% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Alcombe have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

How much do people in Alcombe 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 Alcombe. Compare the area’s average household income of £33,000 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 16% for more conclusive data on the affluence of the area.

Is the crime rate bad in the city of Alcombe?

In Alcombe, for every 1000 people, there is currently a crime rate of 63. 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 (63 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.

Are the deprivation levels of the UK any different to Alcombe?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Alcombe, currently, 25% people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

In the city of Alcombe, 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 Alcombe, 11.2 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 Alcombe.

In Alcombe, what is the social grade score?

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 Alcombe in grades A or B which are the highest skilled roles in the country is 16%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £33,000 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 16%.

In general, what do houses for sale sell for in Alcombe?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Alcombe. In Alcombe, this sale price works out to be £261,773. As an example, a factor like population growth over the last 10 years which works out to be 7% in Alcombe and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £355,432
Average sold price (semi-detached) £258,450
Average sold price (terraced) £203,104
Average sold price (flat) £139,454

Above, the exact type of house is also shown to vary in price in a table in Alcombe. 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 £2,510
Average sold price/sqft (new build) £2,540
Average sold price/sqft (old stock) £2,410

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 Alcombe which is £2,510. 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.

Always consider average rental yield when searching for houses for sale in Alcombe

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 Alcombe. 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 Alcombe.

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 (Somerset), a regional level (South West) and finally on the level of the city talked about in this article, Alcombe.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Alcombe no relevant data for this city no relevant data for this city no relevant data for this city 14.0%
Somerset 3.77% £1,175 138.81% 20.04%
South West 3.57% £1,079 132.66% 17.35%

You may also find it useful to compare the data above to the number of properties sold per month Alcombe experiences. This figure for house sales per month is 20. 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.

Is the housing market in Alcombe growing?

The growth of an area like Alcombe 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
Alcombe growth rate 1% 10% 20%

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

On average, what is the figure for the asking price of a house for sale in Alcombe?

Average asking prices for houses for sale in Alcombe

Average asking price (1 bed) £137,839
Average asking price (2 bed) £253,228
Average asking price (3 bed) £368,184
Average asking price (4 bed) £580,396
Average asking price (5 bed) £605,450

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Alcombe 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 Alcombe 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 £357,356.

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 Alcombe.

Who can help you buy a house for sale in Alcombe?

Finding the ideal house for sale for you

Many criteria impact the price of houses for sale in Alcombe.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

Thinking about other cities with houses for sale?

Below are a list of towns with a similar location to Alcombe.
Reading these analysis will help you evaluate the different houses for sale currently listed in South West:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment