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 Lydiard Millicent, Wiltshire.
From the average asking price of houses for sale in Lydiard Millicent to the growth of the population in the area, all will be talked about regarding the city of Lydiard Millicent. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In Lydiard Millicent, what are the demographics like?
What does the population of Lydiard Millicent look like?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Lydiard Millicent if 32,955 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 Lydiard Millicent such as rental yield or house appreciation.
How has the population size of Lydiard Millicent adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Lydiard Millicent by 3%. 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 3% 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 Lydiard Millicent?
In the last decade, the population of Lydiard Millicent has been adjusted by 8%. 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.
Is the city of Lydiard Millicent deprived?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 19% for Lydiard Millicent should give you a nice idea of the deprivation in the area.
How much do people in Lydiard Millicent 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 Lydiard Millicent, the average income is £48,100. 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 23% to decide on what the demographics are like in the area.
What’s a social grade score and how does it relate to Lydiard Millicent?
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 Lydiard Millicent, the percentage of people in the two highest categories, A and B is 23%. 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 £48,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (23%).
How educated are the people in Lydiard Millicent?
In Lydiard Millicent, the proportion of people who have a degree is 25%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Lydiard Millicent is £48,100.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
In the city of Lydiard Millicent, is there a lot of green space?
Whether you view green space in Lydiard Millicent 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 Lydiard Millicent, the number of acres of green space for every 1000 people currently is 20.2 which can be measured against the UK average of 1.7.
Lydiard Millicent within Wiltshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Lydiard Millicent will be looked at by comparing it to the local region, as well as comparing it to the wider region too (South West). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Lydiard Millicent.
Is the crime rate bad in the city of Lydiard Millicent?
For every one thousand people living in Lydiard Millicent, 74 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 74 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.
What is the final sale price of a house in Lydiard Millicent?
For the city of Lydiard Millicent, the average price a house sells for is £250,223. This value usually depends on the exact location of the house within Lydiard Millicent as well as other factors like the population growth in Lydiard Millicent which is 8% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£331,044|
|Aerage sold price (semi-detached)||£240,051|
|Aerage sold price (terraced)||£183,781|
|Aerage sold price (flat)||£117,027|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Lydiard Millicent.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,810|
|Aerage sold price/sqft (new build)||£2,800|
|Aerage sold price/sqft (old stock)||£2,750|
Generalising the bottom table, the average value per square foot of a house for sale is £2,810. This value averages all of the types of houses for sale in Lydiard Millicent. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Lydiard Millicent.
How are rental yields of the houses for sale different to the rest of the UK in Lydiard Millicent?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Lydiard Millicent, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South West. As well as Wiltshire, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Lydiard Millicent you might be interested in the number of sales per month (24) that happen in the local housing market. Comparing this figure for Lydiard Millicent with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Lydiard Millicent?
The growth of an area like Lydiard Millicent 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|
|Lydiard Millicent growth rate||5%||10%||14%|
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 Lydiard Millicent if you want to find out the exact reasons for the housing change.
What are the asking prices for the houses for sale in the city of Lydiard Millicent?
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 Lydiard Millicent is £306,675.
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 Lydiard Millicent is useful when negotiating and knowing what to expect for every type of house for sale.
Average asking prices for houses for sale in Lydiard Millicent
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£218,963|
|Average asking price (3 bed)||£307,877|
|Average asking price (4 bed)||£428,333|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Lydiard Millicent is £0. This should show you the general prices overall and for individual types of houses too.
Who can help you buy a house for sale in Lydiard Millicent?
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
A house for sale appropriate to your needs
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 Lydiard Millicent.
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.
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Lydiard Millicent.
Reading these analysis will help you evaluate the different houses for sale currently listed in South West:
- Ashwick in South West
- Baldhu in South West
- Exeter in South West
- Crugmeer in South West
- Bradstone 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.