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 Dre-fach, Carmarthenshire.
From the average asking price of houses for sale in Dre-fach, to the growth of the population in the area, all will be talked about regarding the city of Dre-fach. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
On average, what is the figure for the asking price of a house for sale in Dre-fach?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Dre-fach determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £256,238.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Dre-fach.
The average asking price for the houses for sale in the city of Dre-fach
| 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 Dre-fach, 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.
Invest in a house for sale that meets your demands
When browsing houses for sale in Dre-fach you should think about lots of different criteria:
-
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
-
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
-
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
-
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
-
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
-
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
-
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
-
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
-
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
In Dre-fach, what are the demographics like?
What does the population of Dre-fach 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 Dre-fach if 3,098 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 Dre-fach such as rental yield or house appreciation.
How has the population size of Dre-fach adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Dre-fach by 1%. 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 1% 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 Dre-fach?
In the last decade, the population of Dre-fach has been adjusted by 1%. 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.
In the city of Dre-fach, 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 Carmarthenshire for example.
These demographics for Dre-fach 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 Dre-fach in Wales.
What’s the crime rate in Dre-fach?
In Dre-fach, for every 1000 people, there is currently a crime rate of 45. 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 (45 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 education level like in Dre-fach?
Interestingly, the percentage of people who have a degree in the city of Dre-fach is 21%. 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 Dre-fach is £35,300.
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.
How deprived is the population of Dre-fach?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Dre-fach, currently, 28% 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.
In Dre-fach, what is the social grade score?
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 Dre-fach 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 Dre-fach, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 16%.
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 |
In the city of Dre-fach, how much green space remains for residents?
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 Dre-fach currently has 5.7 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 Dre-fach in this case.
How much do people in Dre-fach earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £35,300.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Dre-fach this figure is 16%.
In general, what do houses for sale sell for in Dre-fach?
For the city of Dre-fach, the average price a house sells for is £168,693. This value usually depends on the exact location of the house within Dre-fach as well as other factors like the population growth which is 1% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £208,615 |
| Aerage sold price (semi-detached) | £120,636 |
| Aerage sold price (terraced) | £106,219 |
| Aerage sold price (flat) | no relevant data for this city |
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 Dre-fach.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,340 |
| Aerage sold price/sqft (new build) | £0 |
| Aerage sold price/sqft (old stock) | £1,330 |
Generalising the bottom table, the average value per square foot of a house for sale is £1,340. This value averages all of the types of houses for sale in Dre-fach. 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 Dre-fach.
Why you should consider the average rental yield when searching for houses for sale in Dre-fach
In Dre-fach, how has the number of houses changed?
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 Dre-fach at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Dre-fach growth rate | 18% | 49% | 53% |
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 Dre-fach 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 Dre-fach.
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 Dre-fach, 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 Carmarthenshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Dre-fach | no relevant data for this city | no relevant data for this city | no relevant data for this city | 6.0% |
| Carmarthenshire | 4.60% | £781 | 140.00% | 11.56% |
| Wales | 4.28% | £861 | 133.18% | 14.84% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Dre-fach you might be interested in the number of sales per month (2) that happen in the local housing market. Comparing this figure for Dre-fach with the above table gives you a good understanding of the profitability of the area.
Professional advice for houses for sale in Dre-fach
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
House for sale in a different UK region
If you are looking for similar places to buy a house that are just like Dre-fach, examine this short list of cities below from outside of the region of Wales for some inspiration.
- Battersby in Wales
- Colchester in Wales
- Boothville in Wales
- Glenrothes in Wales
- Forest Hall in Wales
If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.
0 Comments