As a landlord, whenever you are looking at houses for sale in Shropshire, you could find varying prices throughout an area like Knighton. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Knighton to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Knighton will be revealed. Keep reading.
Why you should consider the average rental yield when searching for houses for sale in Knighton
Are there more or fewer houses being built in Knighton?
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 Knighton at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Knighton growth rate||1%||13%||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 Knighton 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 Knighton.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Knighton to Shropshire and the broader suburb of the UK; Wales.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Knighton||no relevant data for this city||no relevant data for this city||no relevant data for this city||19.0%|
Let’s assume you want to sell the house you’re looking to buy in Knighton for profit in the future, in this case, looking at the data for the number of houses sold per month in Knighton would give you an idea of whether the area is actively getting new investors. This figure is 5.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Knighton. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
What are the demographics like in the city of Knighton?
How educated are the people in Knighton?
The number of people as a percentage who have been through university and gained a degree is 24%. The ability to buy a home is greatly influenced by the number of people who have degrees. £32,300 is the amount people in Knighton are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Knighton, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In the city of Knighton, is there a lot of green space?
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 Knighton, the city has 20.0 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 Knighton.
In general, do people commit a lot of crime in Knighton?
For the city of Knighton, crime rate is at 67. So for every 1000 people in the area, 67 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
In the city of Knighton, 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 Shropshire for example.
These demographics for Knighton 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 Knighton in Wales.
How much are those living in Knighton earning?
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 Knighton. Compare the area’s average household income of £32,300 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 14% for more conclusive data on the affluence of the area.
In Knighton, what is the social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Knighton, the percentage of people in the two highest categories, A and B is 14%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £32,300. This income will generally get bigger as the percentage of people in the A and B categories go up too (14%).
Are the deprivation levels of the UK any different to Knighton?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Knighton, currently, 23% 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 population of Knighton?
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 Knighton is 4,738.
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 Knighton.
In Knighton, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 1%. 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 Knighton 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 (1%) 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.
Knighton population difference over 10 years?
The population has adjusted in the area of Knighton by 1% 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 Knighton.
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.
In general, for the city of Knighton, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Knighton, 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 Knighton.
Houses for sale, are sold on average in Knighton, after the influence of these factors, at £194,759 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 1% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£248,642|
|Aerage sold price (semi-detached)||£169,873|
|Aerage sold price (terraced)||£127,950|
|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 Knighton.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,940|
|Aerage sold price/sqft (new build)||£0|
|Aerage sold price/sqft (old stock)||£1,850|
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 Knighton is £1,940.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Asking price in Knighton for a house for sale
When investors make offers for houses for sale in Knighton, the average price asked by the homeowners works out to be £295,917.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Knighton is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Average price of houses for sale in Knighton
|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)||£284,899|
|Average asking price (4 bed)||no relevant data for this city|
|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 Knighton is the right area to buy a house in for you.
Invest in houses for sale in Knighton with the right professional advice
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
houses for sale in other cities in the UK
See here below a list of cities in the same UK region of Knighton which is Wales. You might want to consider these as alternatives for your next real estate investment:
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
A house for sale that is right for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Knighton
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
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.