As a landlord, whenever you are looking at houses for sale in Worcestershire, you could find varying prices throughout an area like Great Malvern. 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 Great Malvern 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 Great Malvern will be revealed. Keep reading.
On average, what is the figure for the asking price of a house for sale in Great Malvern?
In the city of Great Malvern, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£150,633|
|Average asking price (2 bed)||£242,788|
|Average asking price (3 bed)||£333,564|
|Average asking price (4 bed)||£481,724|
|Average asking price (5 bed)||£597,273|
After looking at this table about prices of houses for sale in Great Malvern, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market 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 £2,870 will help them to have a more wholistic understanding.
When investors make offers for houses for sale in Great Malvern, the average price asked by the homeowners works out to be £326,967.
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 Great Malvern 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.
How are rental yields of the houses for sale different to the rest of the UK in Great Malvern?
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 Great Malvern, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; West Midlands. As well as Worcestershire, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Great Malvern you might be interested in the number of sales per month (28) that happen in the local housing market. Comparing this figure for Great Malvern with the above table gives you a good understanding of the profitability of the area.
Are there more or fewer houses being built in Great Malvern?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Great Malvern that shows the growth in recent years.
|1 year||3 years||5 years|
|Great Malvern growth rate||-1%||16%||26%|
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Great Malvern is important.
What are the people like in Great Malvern?
What is the social grade score of Great Malvern?
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 Great Malvern in grades A or B which are the highest skilled roles in the country is 27%. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, £41,600 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 27%.
What is the population of Great Malvern?
The city of Great Malvern has a total population of 34,258. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Great Malvern is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Great Malvern
Over time, in the last five years, the population of the city of Great Malvern has changed by 4%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 4% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Great Malvern?
In the last 10 years, there has been a shift in the population of 7%.
Comparing this to the 5 year figure of Great Malvern can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
How much do people in Great Malvern earn?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (27%). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Great Malvern, this works out to be £41,600. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Is the city of Great Malvern deprived?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 21% for Great Malvern should give you a nice idea of the deprivation in the area.
Is there sufficient green space in Great Malvern?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Great Malvern, 16.6 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Great Malvern.
Great Malvern within Worcestershire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Great Malvern will be looked at by comparing it to the local region, as well as comparing it to the wider region too (West Midlands). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Great Malvern.
What’s the crime rate in Great Malvern?
Within Great Malvern, the number of people committing crimes is 105 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 105 figure carefully.
What is the education level like in Great Malvern?
The number of people as a percentage who have been through university and gained a degree is 34%. The ability to buy a home is greatly influenced by the number of people who have degrees. £41,600 is the amount people in Great Malvern 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 Great Malvern, 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 Great Malvern, what do houses for sale tend to sell for?
In Great Malvern, houses for sale are sold at an average of £266,535. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Great Malvern. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£346,398|
|Aerage sold price (semi-detached)||£232,810|
|Aerage sold price (terraced)||£188,507|
|Aerage sold price (flat)||£176,250|
As you can see above, for Great Malvern, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 7% where lots of movement may inflate or deflate house prices.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,680|
|Aerage sold price/sqft (new build)||£3,050|
|Aerage sold price/sqft (old stock)||£2,530|
Looking at the second table about Great Malvern, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Great Malvern is £2,770.
Who can help you buy a house for sale in Great Malvern?
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
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Great Malvern
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.
House for sale in the same UK region
Examine this short list of cities belonging to West Midlands, the same region where Great Malvern is located.
- Dumbleton in West Midlands
- Aston-Cantlow in West Midlands
- Abbey-Dore in West Midlands
- Acton-Trussell in West Midlands
- Bedworth in West Midlands
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.