As a landlord, whenever you are looking at houses for sale in Somerset, you could find varying prices throughout an area like Banwell. 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 Banwell 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 Banwell will be revealed. Keep reading.
Always consider average rental yield when searching for houses for sale in Banwell
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 Banwell 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 Banwell.
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)|
|Banwell||£0||£957||no relevant data for this city||£0|
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 Banwell.
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 (20) will be useful.
What is the growth in the housing market of Banwell?
Whenever you are thinking about looking for houses for sale in Banwell, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Banwell growth rate||3%||16%||18%|
As the population of Banwell grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
In general, what do houses for sale sell for in Banwell?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Banwell. In Banwell, this sale price works out to be £237,811. As an example, a factor like population growth over the last 10 years which works out to be 6% in Banwell and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£308,468|
|Average sold price (semi-detached)||£224,046|
|Average sold price (terraced)||£202,695|
|Average sold price (flat)||£147,163|
Above, the exact type of house is also shown to vary in price in a table in Banwell. 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||£2,610|
|Average sold price/sqft (new build)||£2,630|
|Average sold price/sqft (old stock)||£2,490|
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 Banwell which is £2,610. 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.
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Banwell
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Thinking of a different city and perhaps a different location?
Below is a list of towns that differ from Banwell.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to South West:
- birmingham in South West
- begbroke in South West
- rayleigh in South West
- blackburn in South West
- aberdaron in South West
If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.
On average, what is the figure for the asking price of a house for sale in Banwell?
The average asking price for the houses for sale in the city of Banwell
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£231,026|
|Average asking price (3 bed)||£312,906|
|Average asking price (4 bed)||£406,662|
|Average asking price (5 bed)||£605,995|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Banwell is £0. This should show you the general prices overall and for individual types of houses too.
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 Banwell 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 £325,166.
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 Banwell.
What are the demographics like in the city of Banwell?
In Banwell, what is the social grade score?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Banwell compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Banwell, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 19%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|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|
What does the population of Banwell look like?
Population growth in Banwell 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 Banwell, 19035 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 Banwell 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 Banwell, 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 Banwell?
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 6% in Banwell.
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.
Are the people of Banwell 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 Banwell is £0 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.
What is the education level like in Banwell?
In the city of Banwell, 21% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Banwell is £42,400.00.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What’s the crime rate in Banwell?
For every one thousand people living in Banwell, 7200% 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 7200% 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.
How much do people in Banwell earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Banwell, the average income is £42,400.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 19% to decide on what the demographics are like in the area.
How much green space is available to residents of Banwell?
Whether you view green space in Banwell as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Banwell, the number of acres of green space for every 1000 people currently is 8 which can be measured against the UK average of 1.7.
In the city of Banwell, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Somerset for example.
These demographics for Banwell may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Banwell in South West.
Invest in houses for sale in Banwell with the right professional advice
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
Do properties in Banwell offer renovation potential?
Amidst the urban landscape of Banwell, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 6 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (19035).
What’s the number of property sales each month in Banwell?
Banwell boasts a monthly total of 20 property transactions, while the entire UK witnesses approximately 1.1 million property sales. You can visit our pages that give information on houses for sale based on Rightmove data from the same region using the link
What’s the year-over-year population change in Banwell or similar cities?
For a comprehensive analysis of Banwell’s population trends, observe the population fluctuation over a decade, indicated by 6%, and the five-year alteration represented by 3%. Perhaps also look at data from another nearby city too so you can see a comparison.
prices for houses on sale in the broader vicinity of Banwell?
The current average price per square foot for a house in Banwell stands at £0, considering the mean cost for each square foot of houses for sale there.
Would acquiring a house for sale in Banwell be regarded as a high-priced option?
To work out if you are looking at an expensive property, find a house for sale and compare it to the average prices sell for. In Banwell this number is £237,811 and in the average for the UK is £286,500. Also, make sure you don’t miss a crucial step by following our tutorial when buying a house