In the UK, there is a lot that goes into deciding on the right place to buy. The decision gets even more complex if you are buying for an investment as you will have to think a bit more logically rather than thinking emotionally when buying a property. In this article, we go over what the Rightmove data looks like for the city of Abbey Hey so you can make the best decisions and make money on your property purchases. Getting involved in one of the 14 property deals that come off the market each month.
According to Rightmove data from Abbey Hey, what properties are renting?
Analysing the rate of education in Abbey Hey from Rightmove
If you are renting or looking to rent, it is good practice to recognise if in the area you are searching, the people have higher incomes. The average household income in this area is £37,967.50 and this figure on a nationwide level has an average of £34,000. It is important to understand this because you want to be in a location that suits your taste and budget.
Abbey Hey’s demographics also reveal a population of 23432 individuals and a percentage of people with degrees falling at 16%. Keep this in mind too and compare it to the average percentage of degrees in the UK which is 22.6%. You don’t necessarily want to be around people you aren’t like or have nothing in common with.
Not everyone wants to buy a house, in the below headings, we go over what is useful to know when renting a property instead. Consider paying letting agents fees if you don’t want to find tenants yourself. Also, once you have researched your area in detail, make sure you have the right AST to sign them with.
What is the outlook for social rent and affordable housing according to Rightmove in Abbey Hey?
Through some digging, we found the level of social rent in the area. Currently, this figure is 32% as the percentage of people who are leasing directly from the government. In the area of Abbey Hey, the average household income is £37,967.50 too. This is another figure to reference and compare to the £34,000 average national salary to see who is in financial hardship. You may wonder why it is necessary to have this information and the answer is because it’s important you live in an area that suits your income as life is generally more enjoyable when you pick somewhere to live amongst others in a similar situation.
In Abbey Hey, what does the property sales data look like based on Rightmove?
In Abbey Hey, analysing Rightmove, what are the number of planning permission applications?
In the UK, planning applications result in a success rate of 82% most of the time. In Abbey Hey, people plan to make modifications to their properties and apply for planning permission with a planning success rate of nan.
This is interesting data for investors in particular. An above average success indicates renovations are tried and tested and likely an investment from landlords. This is a great opportunity for investors to model what works in the area and do the same. On the other hand, a lower approval indicates there are more ambitious proposals in the area and of the 3 monthly planning applications in Abbey Hey, property here is more difficult to conduct improvements on.
If you don’t want to deal with planning permission, consider buying a property as a leaseholder which means you don’t own the land and any planning permission is done by the freeholder who owns the land.
If you do this, you will have to look at when a leasehold expires as well as other disadvantages though. However, there are pros and cons of being a leaseholder or a freeholder. For instance, as a freeholder, you may have to evict a leaseholder in a process known as a forfeiture of lease. So, pay attention to the advantages and disadvantages and what path you actually want to go down.
In the area, using Rightmove data, what are most people selling their property for?
By looking at the below table taken from Rightmove data, you can gain great insights into the property market of Abbey Hey. With an overall sold price of approximately £140,373, according to Rightmove and further listing platforms such as Zoopla, buyers can now make an informed decision as to whether this suits their budget.
|Class of property||Average sale|
Linking rental yields with Rightmove property listings in Abbey Hey
Rental yield in Abbey Hey is £0 as of 2023. However, this is not to say that there are not higher yields out there. When the economy was favourable for property in 2018. Yields were as high as 11% in places like Sheffield in some cases. However, an average, yet respectable figure you can expect from a property in the UK is around 4.4% so you can compare Abbey Hey’s yield of £0 to see if you are above or below.
It is useful to note that even though a property may have a below average rental yield, it can still benefit from capital appreciation over time and this profit can be taken when the property is sold.
Property investment opportunities presented on Rightmove in Abbey Hey
Rightmove data can tell you a lot about the average asking rents of the area of Abbey Hey. For example, the table below goes over how rents are distributed according to the number of rooms in the property. Also, the national figure for rental yield that is most common is 4.4%. The £0 which is the average yield of rent in the area can be compared for reference.
Read on to see what kind of rent you are looking to charge if you bought a property to see what size is best. Bear in mind as you do so that the average amount of rent that is asked for is £848.
|no relevant data for this city||5|
|no relevant data for this city||4|
|no relevant data for this city||3|
|no relevant data for this city||2|
It is worth noting that the more homes sell on a monthly basis, the more buyers and competition there tend to be. This figure for Abbey Hey is talked about below and in the following headings.
Exploring Abbey Hey’s real estate investment potential on Rightmove
When considering buying a house for an investment in the area of North West, you can click here to find further information about houses for sale. There are also a few metrics to look at that make the investment more appealing.
For instance, you should look at the number of property sales that the area has every month which is 14. This, alongside the city’s relative population, should give you an indication of the turnover. The turnover is a piece of data that looks at how many houses have been sold in relation to the number of properties there are.
On average throughout the UK, in a calendar year, this data is around 22% but for Abbey Hey it is nan. Finally, a growing population is always a good sign. The change in population that has happened over the last decade has been 13%. So, you can make of that as you will.
In the city of Abbey Hey, regarding Rightmove, what would it look like living in a HMO?
Currently, the number of licensed HMOs stands at nan that come at an average price to rent of no relevant data for this city. You can also see the difference between the price of a standard HMO room and the average price of a HMO room with an ensuite which is £508.
This should give you an indication if it is worth the difference in price to upgrade to a room with a bathroom in Abbey Hey. Understanding where is best to rent in Abbey Hey involves considering the average asking price for a House in Multiple Occupation (HMO) and comparing this to normal rents.
How much green space do properties have in Abbey Hey according to Rightmove?
Green space is highly recommended for everyone’s well-being, but it is often compromised. Urban areas, in particular, tend to have insufficient green space compared to the recommended benchmark of 6 acres per thousand people according to Fields in Trust seen here. In Abbey Hey, the current data indicates that there are 13.9 acres of green space available per thousand residents. By comparing this figure to the recommended standard of 6, we can assess the adequacy of green space in the area based on Rightmove data.
Frequently Asked Questions by Rightmove users
What is the average property price in Abbey Hey on Rightmove?
The mean property value in the UK is £286k but is changing all the time. Meanwhile, in the local area of Abbey Hey, the average cost of a home available for purchase is £140,373. You can compare these figures to see how far away this city is from the average.
Are there any undisclosed expenses associated with property searches on Rightmove within Abbey Hey?
Landlords should remain attentive to several financial considerations. These may include but are not limited to the costs of running the property, the rate of stamp duty and renovation costs.
Is there a lot of crime in the area of Abbey Hey according to Rightmove?
The current crime rate in Abbey Hey is such that no relevant data for this city incidents are recorded for every 1000 residents.
According to online listings, what’s the count of property transactions per month in Abbey Hey?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, you can look at the houses sold each month which is 14. Typically, the higher this figure is, the more likely it is that this area is highly sought after and there is a strong buyer demand. Check out the property sales in a similar area in order to find a comparison.
According to Rightmove, what’s the mean price of a three-bedroom property in Abbey Hey?
For properties encompassing three bedrooms, the typical asking price hovers around no relevant data for this city. This can be contrasted with the mean property valuations.