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 Axbridge, Somerset.
From the average asking price of houses for sale in Axbridge to the growth of the population in the area, all will be talked about regarding the city of Axbridge. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Axbridge, what are the rental yields?
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Axbridge this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (South West) alongside Somerset then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Axbridge.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Axbridge | no relevant data for this city | no relevant data for this city | no relevant data for this city | 10.0% |
| Somerset | 3.77% | £1,175 | 138.81% | 20.04% |
| South West | 3.57% | £1,079 | 132.66% | 17.35% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Axbridge.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (3) will be useful.
Are there more or fewer houses being built in Axbridge?
The growth of an area like Axbridge 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 | |
|---|---|---|---|
| Axbridge growth rate | -7% | 3% | 5% |
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 Axbridge 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 Axbridge?
When speaking about the city of Axbridge, £634,461 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 would be after a larger house than someone living alone in Axbridge.
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.
Average price of houses for sale in Axbridge
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | no relevant data for this city |
| Average asking price (3 bed) | no relevant data for this city |
| Average asking price (4 bed) | £684,495 |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Axbridge 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.
What kind of demographics does the city of Axbridge have?
Have the people of Axbridge grown in numbers?
Population growth in Axbridge is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Axbridge, 4,933 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Axbridge in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Axbridge, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Axbridge?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 8% in Axbridge.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
Axbridge in the county of Somerset is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Axbridge is located in; South West.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Axbridge, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
How much do people in Axbridge 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 Axbridge. Compare the area’s average household income of £44,600 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 35% for more conclusive data on the affluence of the area.
Is there sufficient green space in Axbridge?
In the city of Axbridge, there are 4.7 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 Axbridge is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What is a social grade score and how does this relate to Axbridge?
In the city of Axbridge 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 Axbridge has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 35%.
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 crime rate bad in the city of Axbridge?
For every one thousand people living in Axbridge, 55 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 55 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
For the city of Axbridge, what is the education level?
The number of people as a percentage who have been through university and gained a degree is 37%. The ability to buy a home is greatly influenced by the number of people who have degrees. £44,600 is the amount people in Axbridge 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 Axbridge, 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.
Are the deprivation levels of the UK any different to Axbridge?
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 Axbridge, in particular, the deprivation levels are 14%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In general, for the city of Axbridge, what are the final purchase prices for the houses for sale?
In Axbridge, the average sale price of a house for sale is in fact £366,201. This is dependent on the 10 year population growth of Axbridge being 8%. Growing populations are more likely to inflate the prices of houses for sale in the city of Axbridge.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £477,492 |
| Aerage sold price (semi-detached) | £278,011 |
| Aerage sold price (terraced) | £279,573 |
| Aerage sold price (flat) | £141,059 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Axbridge.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,770 |
| Aerage sold price/sqft (new build) | £2,610 |
| Aerage sold price/sqft (old stock) | £2,720 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,770. This means if you are just looking out the houses sold in Axbridge in general and didn’t take into consideration the type of build. For example, a new build.
Get professional help on the houses for sale in Axbridge
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 West, the same UK region as Axbridge:
- Abbotts-Ann in South West
- Bossiney in South West
- Alcombe in South West
- Bedminster-Down in South West
- Bohortha in South West
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
A house for sale that is right for you
Many criteria impact the price of houses for sale in Axbridge.
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.
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
Recent Comments