What is it like buying a house in Criccieth?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Wales $ What is it like buying a house in Criccieth?

Criccieth might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Gwynedd.
Before looking for a house for sale in the city of Criccieth we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Criccieth.

How are rental yields of the houses for sale different to the rest of the UK in Criccieth?

Is the housing market in Criccieth growing?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Criccieth at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Criccieth growth rate -7% 15% 16%

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Criccieth gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Criccieth.

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 Criccieth. 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 Criccieth.

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 (Gwynedd), a regional level (Wales) and finally on the level of the city talked about in this article, Criccieth.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Criccieth no relevant data for this city no relevant data for this city no relevant data for this city 11.0%
Gwynedd no relevant data for this city no relevant data for this city no relevant data for this city 12.00%
Wales 4.28% £861 133.18% 14.84%

You may also find it useful to compare the data above to the number of properties sold per month Criccieth 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.

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

In the city of Criccieth, 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) 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

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Criccieth and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

On average, in Criccieth, the asking price for a house for sale in the area is £371,998.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Criccieth. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

What is the final sale price of a house in Criccieth?

In Criccieth, the average sale price of a house for sale is in fact £257,877. This is dependent on the 10 year population growth of Criccieth being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Criccieth.

Housing category Total final sale price
Aerage sold price (detached) £309,089
Aerage sold price (semi-detached) £180,066
Aerage sold price (terraced) £198,012
Aerage sold price (flat) no relevant data for this city

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Criccieth.

Housing category Sale price per square foot
Aerage sold price/sqft £1,990
Aerage sold price/sqft (new build) £0
Aerage sold price/sqft (old stock) £1,930

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £1,990. This means if you are just looking out the houses sold in Criccieth in general and didn’t take into consideration the type of build. For example, a new build.

In Criccieth, what are the demographics like?

What’s a social grade score and how does it relate to Criccieth?

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 Criccieth 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 Criccieth, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 21%.

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

For the city of Criccieth, what is the education level?

Interestingly, the percentage of people who have a degree in the city of Criccieth is 30%. 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 Criccieth is £36,400.

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.

What’s the crime rate in Criccieth?

The crime rate of Criccieth 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 49, 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 (49) is both useful and is recommended to be compared to the average.

How much are those living in Criccieth earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£36,400 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 21% for Criccieth.

In the city of Criccieth, 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 Gwynedd for example.

These demographics for Criccieth 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 Criccieth in Wales.

How deprived is the population of Criccieth?

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 Criccieth, in particular, the deprivation levels are 21%.

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

Have the people of Criccieth grown in numbers?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Criccieth is 2,770.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Criccieth.

In Criccieth, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Criccieth is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Criccieth population difference over 10 years?

The population has adjusted in the area of Criccieth by 3% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Criccieth.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

How much green space is available to residents of Criccieth?

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 Criccieth currently has 27.2 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 Criccieth in this case.