Whenever looking for a house for sale in the UK or in Kinnersley, it is vital you look at the market trends and house price fluctuations in the wider area of Herefordshire 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 Kinnersley.
In this article, we will be looking at the city of Kinnersley in detail so you know how to navigate the area and have a better understanding on where to invest.
Why you should consider the average rental yield when searching for houses for sale in Kinnersley
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Kinnersley.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Herefordshire) as well as the broader region; West Midlands.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Kinnersley||no relevant data for this city||no relevant data for this city||no relevant data for this city||14.0%|
Also, you can compare other data to the table above such as the number of houses sold per month in Kinnersley which is 6 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Kinnersley is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Kinnersley?
Whenever you are thinking about looking for houses for sale in Kinnersley, 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|
|Kinnersley growth rate||-7%||5%||14%|
As the population of Kinnersley 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.
What is the final sale price of a house in Kinnersley?
For the city of Kinnersley, the average price a house sells for is £334,892. This value usually depends on the exact location of the house within Kinnersley as well as other factors like the population growth in Kinnersley which is 8% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£393,861|
|Aerage sold price (semi-detached)||£266,853|
|Aerage sold price (terraced)||£211,545|
|Aerage sold price (flat)||£172,111|
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 Kinnersley.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,830|
|Aerage sold price/sqft (new build)||£2,900|
|Aerage sold price/sqft (old stock)||£2,680|
Generalising the bottom table, the average value per square foot of a house for sale is £2,830. This value averages all of the types of houses for sale in Kinnersley. 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 Kinnersley.
What are the asking prices for the houses for sale in the city of Kinnersley?
On average, in Kinnersley, the asking price for a house for sale in the area is £439,329.
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 Kinnersley. 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.
Table showing the asking prices for houses for sale in Kinnersley
|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)||£342,939|
|Average asking price (4 bed)||£584,919|
|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 Kinnersley 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.
Are there any important statistics about the population of Kinnersley?
In Kinnersley, how educated are people in general?
In the city of Kinnersley, 34% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Kinnersley is £44,300.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
How much do people in Kinnersley 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 (28%). 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 Kinnersley, this works out to be £44,300. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Have the people of Kinnersley grown in numbers?
The city of Kinnersley has a total population of 8,093. 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 Kinnersley 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 Kinnersley
Over time, in the last five years, the population of the city of Kinnersley has changed by 5%. 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 5% 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 Kinnersley?
In the last 10 years, there has been a shift in the population of 8%.
Comparing this to the 5 year figure of Kinnersley 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.
What’s a social grade score and how does it relate to Kinnersley?
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 Kinnersley, the percentage of people in the two highest categories, A and B is 28%. 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 £44,300. This income will generally get bigger as the percentage of people in the A and B categories go up too (28%).
Is the city of Kinnersley deprived?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Kinnersley is 18% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
In general, do people commit a lot of crime in Kinnersley?
Within Kinnersley, the number of people committing crimes is 84 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 84 figure carefully.
In the city of Kinnersley, 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 Kinnersley, the city has 12.2 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 Kinnersley.
In the city of Kinnersley, 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 Herefordshire for example.
These demographics for Kinnersley 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 Kinnersley in West Midlands.
Advice from experts on properties for sale in Kinnersley
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
House for sale in the same UK region
We have prepared a list of cities in West Midlands, the same UK region of Kinnersley that can help you evaluate the different houses for sale listed in the region:
- Cubbington in West Midlands
- Wolverhampton in West Midlands
- Dumbleton in West Midlands
- Worcester in West Midlands
- Bonehill in West Midlands
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Choose the right house for sale that suits your needs
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 Kinnersley.
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.