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How much does a house for sale cost in Merriott?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in the South West $ How much does a house for sale cost in Merriott?

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Whenever looking for a house for sale in the UK or in Merriott, it is vital you look at the market trends and house price fluctuations in the wider area of Somerset too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Merriott.

In this article, we will be looking at the city of Merriott in detail so you know how to navigate the area and have a better understanding on where to invest.

Thinking of a different city and perhaps a different location?

Below is a list of towns that differ from Merriott.
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:

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.

What are the asking prices for the houses for sale in the city of Merriott?

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 Merriott is £278,333.

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 Merriott is useful when negotiating and knowing what to expect for every type of house for sale.

Table showing the asking prices for houses for sale in Merriott

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

After looking at this table about prices of houses for sale in Merriott, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more holistic understanding.

Advice from experts on properties for sale in Merriott

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

  • Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
  • Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
  • Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
  • Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
  • Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
  • EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial

What kind of demographics does the city of Merriott have?

Are the people in Merriott earning a lot?

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 Merriott. Compare the area’s average household income of £41,300.00 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 is the population of Merriott?

In total, the number of people in Merriott is 1893. 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 Merriott, depending on where exactly you are.

How has Merriott 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 Merriott has changed by 2%. 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 2% 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 Merriott?

5% 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 Merriott 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.

What is the city of Merriott’s 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 Merriott 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, £41,300.00 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%.

What is the education level like in Merriott?

In the city of Merriott, 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 Merriott is £41,300.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

What’s crime like in Merriott?

The crime rate of Merriott must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 2700%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (2700%) is both useful and is recommended to be compared to the average.

In the city of Merriott, 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 Merriott 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 Merriott in South West.

How much green space is available to residents of Merriott?

Whether you view green space in Merriott 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 Merriott, the number of acres of green space for every 1000 people currently is 4 which can be measured against the UK average of 1.7.

Are the people of Merriott deprived?

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 Merriott, in particular, the deprivation levels are £0.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

What’s the rental yield in general for the city of Merriott?

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 Merriott, 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 Somerset, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Merriott no relevant data for this city no relevant data for this city no relevant data for this city £0
Somerset 3.77% £1,174.60 138.81% 20.04%
South West 0.04 1,078.69 £1 17.35%

Assuming that in the future you want to re-sell the house you will eventually purchased in Merriott you might be interested in the number of sales per month (3) that happen in the local housing market. Comparing this figure for Merriott with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Merriott?

Before committing to Merriott to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Merriott growth rate 1% 17% 2%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Merriott is building housing to find your answer.

Choose the right house for sale that suits 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 Merriott.

  • 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.

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

As well as looking at the asking price for house for sale in Merriott, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Merriott.

Houses for sale, are sold on average in Merriott, after the influence of these factors, at £255,713 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 5% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £344,228
Aerage sold price (semi-detached) £240,274
Aerage sold price (terraced) £231,602
Aerage sold price (flat) no relevant data for this city

This table above shows the average sale price for each variation of houses for sale in Merriott.

Housing category Sale price per square foot
Aerage sold price/sqft £2,510
Aerage sold price/sqft (new build) £2,310
Aerage sold price/sqft (old stock) £2,490

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Merriott is £2,510.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

FAQ (Frequently Asked Questions)

Do properties in Merriott offer renovation potential?

Merriott is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 1 each month, attaining a success rate of nan and a total population of 1893. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place

How many property sales occur per month in Merriott?

In Merriott, the monthly property transaction count reaches 3, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

How does the population in a city like Merriott change annually?

To assess the shifts in Merriott’s population over time, analyse how the population has altered. Look at the ten year change of population of 5%, alongside the five-year change of 2%.

In the larger vicinity of Merriott, what is the cost of houses available for sale?

The average asking price of a house in Merriott is currently £0 based on the average price per square foot.

Is a house for sale in Merriott an expensive choice?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Merriott, this stands at £255,713, whereas the UK’s mean is £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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