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 Colyton, Devon.
From the average asking price of houses for sale in Colyton to the growth of the population in the area, all will be talked about regarding the city of Colyton. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What kind of demographics does the city of Colyton have?
How much do people in Colyton 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 Colyton. Compare the area’s average household income of £41,500 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 24% for more conclusive data on the affluence of the area.
What’s crime like in Colyton?
In Colyton, for every 1000 people, there is currently a crime rate of 25. 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 (25 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.
In Colyton, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Colyton is 31%. 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 Colyton is £41,500.
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.
In Colyton, 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 Colyton in grades A or B which are the highest skilled roles in the country is 24%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £41,500 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 24%.
Is the city of Colyton deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Colyton is 18%.
Is there sufficient green space in Colyton?
In the city of Colyton, there are 32.9 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 Colyton is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Have the people of Colyton grown in numbers?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Colyton if 3,727 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Colyton such as rental yield or house appreciation.
How has the population size of Colyton adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Colyton by 7%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 7% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Colyton?
In the last decade, the population of Colyton has been adjusted by 12%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Located in Devon is the city of Colyton, in a large part of the UK; South West. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Colyton has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Colyton which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
On average, what is the figure for the asking price of a house for sale in Colyton?
Average asking prices for houses for sale in Colyton
| 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) | no relevant data for this city |
| 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 (£0) for houses for sale with this table to get a good idea as to whether Colyton is the right area to buy a house in for you.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Colyton is £485,476.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Colyton is useful when negotiating and knowing what to expect for every type of house for sale.
In general, what do houses for sale sell for in Colyton?
In Colyton, houses for sale are sold at an average of £359,288. 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 Colyton. 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) | £397,076 |
| Aerage sold price (semi-detached) | £281,940 |
| Aerage sold price (terraced) | £259,719 |
| Aerage sold price (flat) | no relevant data for this city |
As you can see above, for Colyton, 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 12% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,220 |
| Aerage sold price/sqft (new build) | £2,910 |
| Aerage sold price/sqft (old stock) | £3,080 |
Looking at the second table about Colyton, 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 Colyton is £3,220.
Why you should consider the average rental yield when searching for houses for sale in Colyton
What is the growth in the housing market of Colyton?
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 Colyton that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Colyton growth rate | 12% | 19% | 30% |
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 Colyton is important.
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 Colyton. 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 Colyton.
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 (Devon), a regional level (South West) and finally on the level of the city talked about in this article, Colyton.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Colyton | no relevant data for this city | no relevant data for this city | no relevant data for this city | 24.0% |
| Devon | 3.48% | £949 | 131.12% | 16.20% |
| 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 Colyton experiences. This figure for house sales per month is 3. 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.
Who can help you buy a house for sale in Colyton?
A house for sale that is right for you
When browsing houses for sale in Colyton you should think about lots of different criteria:
-
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
-
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
-
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
-
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
-
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
-
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
-
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
-
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
-
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 about other cities with houses for sale?
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 Colyton:
- Dorchester in South West
- Badbury in South West
- Abbotts-Ann in South West
- Crafthole in South West
- Battleton in South West
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
Recent Comments