Whenever looking for a house for sale in the UK or in Lower Town, it is vital you look at the market trends and house price fluctuations in the wider area of Pembrokeshire 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 Lower Town.
In this article, we will be looking at the city of Lower Town in detail so you know how to navigate the area and have a better understanding on where to invest.
What’s the rental yield in general for the city of Lower Town?
Are there new houses being built in Lower Town to make it grow?
Whenever you are thinking about looking for houses for sale in Lower Town, 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|
|Lower Town growth rate||29%||36%||68%|
As the population of Lower Town 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.
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 Lower Town to Pembrokeshire and the broader suburb of the UK; Wales.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Lower Town||no relevant data for this city||no relevant data for this city||no relevant data for this city||10.0%|
|Pembrokeshire||no relevant data for this city||no relevant data for this city||no relevant data for this city||11.92%|
Let’s assume you want to sell the house you’re looking to buy in Lower Town for profit in the future, in this case, looking at the data for the number of houses sold per month in Lower Town would give you an idea of whether the area is actively getting new investors. This figure is 3.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Lower Town. 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.
In general, what do houses for sale sell for in Lower Town?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Lower Town. In Lower Town, this sale price works out to be £182,831. As an example, a factor like population growth over the last 10 years which works out to be 4% in Lower Town and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£217,073|
|Average sold price (semi-detached)||£144,009|
|Average sold price (terraced)||£135,211|
|Average sold price (flat)||no relevant data for this city|
Above, the exact type of house is also shown to vary in price in a table in Lower Town. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£1,730|
|Average sold price/sqft (new build)||£0|
|Average sold price/sqft (old stock)||£1,610|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Lower Town which is £1,730. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
In Lower Town, what are the demographics like?
Is the crime rate bad in the city of Lower Town?
In Lower Town, for every 1000 people, there is currently a crime rate of 79. 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 (79 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.
In Lower Town, what is the social grade score?
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 Lower Town in grades A or B which are the highest skilled roles in the country is 16%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £32,600 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 16%.
The city of Lower Town, situated in Pembrokeshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Lower Town and its demographics will be compared to its wider location (Wales). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Lower Town. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In the city of Lower Town, is there a lot of green space?
Whether you view green space in Lower Town as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Lower Town, the number of acres of green space for every 1000 people currently is 7.5 which can be measured against the UK average of 1.7.
How educated are the people in Lower Town?
Interestingly, the percentage of people who have a degree in the city of Lower Town is 24%. 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 Lower Town is £32,600.
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.
Are the people in Lower Town earning a lot?
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 £32,600.
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 Lower Town this figure is 16%.
What is the population of Lower Town?
In total, the number of people in Lower Town is 4,401. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Lower Town, depending on where exactly you are.
How has Lower Town changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Lower Town has changed by 3%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Lower Town?
4% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Lower Town have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Are the deprivation levels of the UK any different to Lower Town?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Lower Town is 28%.
What is the asking price on average of houses for sale in Lower Town?
The average asking price for the houses for sale in the city of Lower Town
|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 Lower Town 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.
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 Lower Town 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 £257,178.
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 Lower Town.
Get professional help on the houses for sale in Lower Town
Other cities you can consider looking for with houses for sale
Examine this short list of cities belonging to Wales, the same region where Lower Town is located.
- Anglesey in Wales
- Abercastle in Wales
- Battlefield in Wales
- Efailwen in Wales
- Capel-Garmon in Wales
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
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
A house for sale that is right for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Lower Town.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.