As a landlord, whenever you are looking at houses for sale in Berkshire, you could find varying prices throughout an area like Reading. 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 Reading 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 Reading will be revealed. Keep reading.
What’s the rental yield in general for the city of Reading?
Are there more or fewer houses being built in Reading?
The growth of an area like Reading can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Reading growth rate | 2% | 9% | 7% |
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Reading if you want to find out the exact reasons for the housing change.
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 Reading, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South East. As well as Berkshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Reading | 4.4% | £1,382 | 140% | 23.3% |
| Berkshire | 3.60% | £1,479 | 129.52% | 16.23% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Reading you might be interested in the number of sales per month (98) that happen in the local housing market. Comparing this figure for Reading with the above table gives you a good understanding of the profitability of the area.
Are there any important statistics about the population of Reading?
Do the people of Reading get to enjoy green space?
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 Reading currently has 8.2 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 Reading in this case.
Located in Berkshire is the city of Reading, in a large part of the UK; South East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Reading has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Reading which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
Have the people of Reading grown in numbers?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Reading if 122,610 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 Reading such as rental yield or house appreciation.
How has the population size of Reading adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Reading by 2%. 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 2% 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 Reading?
In the last decade, the population of Reading has been adjusted by 6%. 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.
How much are those living in Reading earning?
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 £56,600.
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 Reading this figure is 33%.
Is the city of Reading deprived?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Reading, in particular, the deprivation levels are 19%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What’s the crime rate in Reading?
The crime rate of Reading must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 127, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (127) is both useful and is recommended to be compared to the average.
What is the city of Reading’s social grade score?
In the city of Reading, the social grade score of the area is 33%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Reading.
| 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 |
What is the education level like in Reading?
In the city of Reading, 36% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Reading is £56,600. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
In general, what do houses for sale sell for in Reading?
For the city of Reading, the average price a house sells for is £327,804. This value usually depends on the exact location of the house within Reading as well as other factors like the population growth which is 6% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £522,674 |
| Aerage sold price (semi-detached) | £390,995 |
| Aerage sold price (terraced) | £296,420 |
| Aerage sold price (flat) | £225,441 |
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 Reading.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,860 |
| Aerage sold price/sqft (new build) | £4,023 |
| Aerage sold price/sqft (old stock) | £3,820 |
Generalising the bottom table, the average value per square foot of a house for sale is £4,017. This value averages all of the types of houses for sale in Reading. 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 Reading.
In Reading, what is the asking price in general for a house for sale?
In the city of Reading, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £207,083 |
| Average asking price (2 bed) | £298,264 |
| Average asking price (3 bed) | £410,699 |
| Average asking price (4 bed) | £564,105 |
| Average asking price (5 bed) | £766,250 |
After looking at this table about prices of houses for sale in Reading, 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 £4,170 will help them to have a more holistic understanding.
On average, in Reading, the asking price for a house for sale in the area is £380,166.
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 Reading. 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.
Choose the right house for sale that suits your needs
What parameters impact the final price of a house for sale in Reading?
Here below is our list with the most important ones:
-
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
-
House Location – the actual location of a house for sale drastically changes the final price of a property
-
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
-
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
-
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
-
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
-
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
-
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
-
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
House for sale in the same UK region
You can assess the various houses for sale offered in the area by consulting this list of cities in South East, the same UK region as Reading:
- Crookham in South East
- Bank in South East
- Barkham in South East
- Bulverhythe in South East
- Blue-Bell-Hill in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Professional advice for houses for sale in Reading
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
0 Comments