Whenever looking for a house for sale in the UK or in Yeovil, 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 Yeovil.
In this article, we will be looking at the city of Yeovil in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the asking prices for the houses for sale in the city of Yeovil?
Average price of houses for sale in Yeovil
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£177,892|
|Average asking price (3 bed)||£266,471|
|Average asking price (4 bed)||£409,643|
|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 Yeovil 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 Yeovil is £263,182.
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 Yeovil 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 Yeovil?
As well as looking at the asking price for house for sale in Yeovil, 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 Yeovil.
Houses for sale, are sold on average in Yeovil, after the influence of these factors, at £215,091 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)||£332,715|
|Aerage sold price (semi-detached)||£213,382|
|Aerage sold price (terraced)||£168,814|
|Aerage sold price (flat)||£109,378|
This table above shows the average sale price for each variation of houses for sale in Yeovil.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,340|
|Aerage sold price/sqft (new build)||£2,930|
|Aerage sold price/sqft (old stock)||£2,250|
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 Yeovil is £2,340.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Are there any important statistics about the population of Yeovil?
What is a social grade score and how does this relate to Yeovil?
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 Yeovil 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 Yeovil, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 23%.
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|
How much do people in Yeovil earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (23%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Yeovil, this works out to be £42,700. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
How deprived is the population of Yeovil?
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 Yeovil, in particular, the deprivation levels are 19%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
Is the crime rate bad in the city of Yeovil?
In Yeovil, for every 1000 people, there is currently a crime rate of 185. 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 (185 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.
What is the population of Yeovil?
The city of Yeovil has a total population of 11,221. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Yeovil is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Yeovil
Over time, in the last five years, the population of the city of Yeovil has changed by 2%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 2% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Yeovil?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Yeovil can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
How educated are the people in Yeovil?
In the city of Yeovil, 24% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Yeovil is £42,700. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
In the city of Yeovil, 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 Yeovil 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 Yeovil in South West.
In the city of Yeovil, is there a lot of green space?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Yeovil currently has 16.3 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Yeovil in this case.
In Yeovil, what are the rental yields?
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 Yeovil, 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)|
|Yeovil||3.2%||£712||no relevant data for this city||17.0%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Yeovil you might be interested in the number of sales per month (9) that happen in the local housing market. Comparing this figure for Yeovil with the above table gives you a good understanding of the profitability of the area.
In Yeovil, how has the number of houses changed?
Before committing to Yeovil 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|
|Yeovil growth rate||-6%||4%||17%|
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 Yeovil is building housing to find your answer.