Whenever looking for a house for sale in the UK or in Abergynolwyn, it is vital you look at the market trends and house price fluctuations in the wider area of Gwynedd 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 Abergynolwyn.
In this article, we will be looking at the city of Abergynolwyn in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the people like in Abergynolwyn?
Abergynolwyn in the county of Gwynedd is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Abergynolwyn is located in; Wales.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Abergynolwyn, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
In Abergynolwyn, how educated are people in general?
In Abergynolwyn, the proportion of people who have a degree is 21%. 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 Abergynolwyn is £30,000.
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.
How much do people in Abergynolwyn 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 Abergynolwyn. Compare the area’s average household income of £30,000 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 13% for more conclusive data on the affluence of the area.
What’s crime like in Abergynolwyn?
For every one thousand people living in Abergynolwyn, 67 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 67 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.
Have the people of Abergynolwyn grown in numbers?
Population growth in Abergynolwyn 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 Abergynolwyn, 4,660 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 Abergynolwyn 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 Abergynolwyn, this change has been 2%. 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 2%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Abergynolwyn?
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 3% in Abergynolwyn.
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.
Is there sufficient green space in Abergynolwyn?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Abergynolwyn, the city has 176.0 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Abergynolwyn.
What is the social grade score of Abergynolwyn?
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 Abergynolwyn in grades A or B which are the highest skilled roles in the country is 13%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £30,000 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 13%.
Are the deprivation levels of the UK any different to Abergynolwyn?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Abergynolwyn, currently, 29% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
What is the final sale price of a house in Abergynolwyn?
For the city of Abergynolwyn, the average price a house sells for is £170,568. This value usually depends on the exact location of the house within Abergynolwyn as well as other factors like the population growth in Abergynolwyn which is 3% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£214,696|
|Aerage sold price (semi-detached)||£147,226|
|Aerage sold price (terraced)||£134,374|
|Aerage sold price (flat)||£74,900|
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 Abergynolwyn.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,790|
|Aerage sold price/sqft (new build)||£0|
|Aerage sold price/sqft (old stock)||£1,720|
Generalising the bottom table, the average value per square foot of a house for sale is £1,790. This value averages all of the types of houses for sale in Abergynolwyn. 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 Abergynolwyn.
What are the asking prices for the houses for sale in the city of Abergynolwyn?
When speaking about the city of Abergynolwyn, £221,397 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Abergynolwyn.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
In the city of Abergynolwyn, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£166,698|
|Average asking price (3 bed)||£259,606|
|Average asking price (4 bed)||no relevant data for this city|
|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 Abergynolwyn is £0. This should show you the general prices overall and for individual types of houses too.
How are rental yields of the houses for sale different to the rest of the UK in Abergynolwyn?
What is the growth in the housing market of Abergynolwyn?
Whenever you are thinking about looking for houses for sale in Abergynolwyn, 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|
|Abergynolwyn growth rate||26%||48%||56%|
As the population of Abergynolwyn 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.
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 Abergynolwyn, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Wales. As well as Gwynedd, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Abergynolwyn||no relevant data for this city||no relevant data for this city||no relevant data for this city||5.0%|
|Gwynedd||no relevant data for this city||no relevant data for this city||no relevant data for this city||12.00%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Abergynolwyn you might be interested in the number of sales per month (4) that happen in the local housing market. Comparing this figure for Abergynolwyn with the above table gives you a good understanding of the profitability of the area.