How much will you pay for a house for sale in Reading?

Whenever looking for a house for sale in the UK or in Reading, it is vital you look at the market trends and house price fluctuations in the wider area of Berkshire 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 Reading.

In this article, we will be looking at the city of Reading 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 Reading

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.

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 (31) 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 new houses being built in Reading to make it grow?

Whenever you are thinking about looking for houses for sale in Reading, 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.

As the population of Reading 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.

In Reading, what do houses for sale tend to sell for?

As well as looking at the asking price for house for sale in Reading, 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 Reading.

Houses for sale, are sold on average in Reading, after the influence of these factors, at £327,804 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 6% over the last 10 years.

This table above shows the average sale price for each variation of houses for sale in Reading.

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 Reading is £4,017.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Get professional help on the houses for sale in Reading

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

• Banks – The ones that can lend you the money you need for the house for sale
• Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
• Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
• Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
• Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
• EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

Other cities in different locations you can consider to buy property

If you are looking for a list of cities that are different to the City of Reading and in different UK region to South East. You might want to consider these as alternatives for your next real estate investment:

• barningham in South East
• bacup in South East
• bramshill in South East
• alvecote in South East
• brookfield in South East

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Reading.
Here below are the most important ones according to Lofti’s expertise:

• Affordability – (see what house for sale can you afford?)

  A guide from the UK government

• House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

• Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

• Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

• Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

• Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

• Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

• Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

What are the people like in Reading?

Are the people in Reading earning a lot?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£56,600.00 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 33% for Reading.

Do the people of Reading get to enjoy green space?

Whether you view green space in Reading 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 Reading, the number of acres of green space for every 1000 people currently is 8 which can be measured against the UK average of 1.7.

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.

What’s the crime rate in Reading?

In Reading, for every 1000 people, there is currently a crime rate of 12733%. 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 (12733% 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 Reading, how has the population changed?

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 122610 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.

Are the deprivation levels of the UK any different to Reading?

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 Reading is £0.

What is a social grade score and how does this relate to Reading?

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.

In Reading, how educated are people in general?

In the city of Reading, 36% 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 Reading is £56,600.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

Asking price in Reading for a house for sale

Table showing the asking prices for houses for sale in Reading

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.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Reading is £380,166.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Reading is useful when negotiating and knowing what to expect for every type of house for sale.