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 Accrington so you can make the best decisions and make money on your property purchases. Getting involved in one of the 51 property deals that come off the market each month.
By analysing Rightmove in Accrington, is there a lot of green, outdoor space?
Green space is universally recommended but unfortunately often compromised in various locations. In cities, the amount of green space often falls below the recommended threshold of 6 acres of green space per thousand people.
In Accrington, the current data indicates the presence of 15.7 acres of green space per thousand residents. By comparing this value to the recommended benchmark of 6, we can evaluate the sufficiency of green space in the area.
What are the number of HMOs on Rightmove that are licenced in the area of Accrington?
In Accrington, of the total number of licensed HMOs (16) that are legally registered as a House of Multiple Occupancy, the average asking rent is no relevant data for this city. If you are trying to find a cheap way to rent but also don’t want to share the entire property with other renters, you also have the option to rent a room with a bathroom attached. These are known as ensuites and the cost to rent one in Accrington is currently £417, usually slightly above what is asked to rent a normal room without an ensuite in a HMO.
Properties to Rent in Accrington on Rightmove
In Accrington, here’s what Rightmove data says about social rent and affordable housing
There is often a negative stigma attached to affordable housing and social rent. If you are looking for Rightmove data concerning this, the percentage of people renting from the government is: 7%. Also, in Accrington, the average amount that people earn per household is £38,011.63. These are not standalone figures so it is important to compare this data to other factors such as the crime rate and also visit an area in person to truly see what it is like. Take these figures with a pinch of salt as there are areas that are unsafe in the UK where people earn a higher wage such as some areas in Central London. On the other hand, there are places with high amounts of social rent where crime rate isn’t high at all like in Ardwick, Manchester. People earn a humble average household income of £30,450 yet the rate of crime is just 1 out of every 1000 people.
How to examine income data from Rightmove for Accrington
When considering Accrington, its population reaches 61415 individuals. It is useful to note that around 18% of the residents have attained a higher level of education and the average household income in the area is £38,011.63. Renters should take note that if the percentage of degree holders exceeds the regional average of 22.6%, it suggests that your neighbours are likely to be higher earners. While other factors contribute to neighbour quality, observing educational levels remains valuable.
Looking to rent? Find the most valuable data points for the process of renting below. See our full list of areas in the UK with data from Rightmove if you want to compare these rents to other areas in the UK.
Home listings in Accrington on the platform of Rightmove
A look into Rightmove’s Accrington property as an Investment
As you delve into the property landscape of Accrington in the region of North West, Rightmove becomes an invaluable resource that provides data that can be looked at every month.
Some standard data that should be examined when trying to understand an area include the number of sales there are every month in the area, which falls at 51. Look at this in accordance with the population of the area, larger populations obviously will generally have more sales as there are more people living there and likely to sell their property. So, look at this as a factor and also check out this link to compare data for other cities in the area.
So, you can look at turnover which looks at property sales every year in relation to the number of houses that exist in the area anyway. Currently turnover is 1.09. Every decade population change should also be considered. This figure stands at 0% and positive changes generally show there is a growing population no matter if you are talking about a city or a wider region like North West.
The greater the number of sales per month in the area of Accrington, the more it could be argued that the property market is improving. As you read on, consider this factor amongst others such as the type of property that is in the area.
In Accrington, what are the number of planning permission applications on Rightmove?
On Rightmove, there are a lot of people who plan to make amendments to their property and 8,000 people every month go through the process. In Accrington, this number is 10 every month and the success rate for planning permission is 84%.
Rightmove records planning success as a good metric for investors to get a gauge on how familiar people are with renovating their homes. A higher success indicates investors have done improvements before and they are good at renovation. This suggests that if you are looking to buy in Accrington, you may be able to do the same and make some money.
How Rightmove listings in Accrington help you make an investment
There is a fair amount of insight that you can gather from the city of Accrington by looking at Rightmove data. You can use all of this data in order to invest properly armed with the right information. To begin, let’s have a look at the most important data that someone looks for when evaluating an investment in the area, £0 is the average rental yield and the average asking rent is £552.
The average for these figures are 4.4% and £1,143 respectively. You can make an investment work in any area and there is even less you won’t have to worry about these figures if you are buying to live in this home. So, look at the below figures with an element of reason and be prepared to make changes to the rent using a
section 13 rent increase as a landlord if there are changes in the economy and the cost to run a property goes up.
|Number of bedrooms||Average asking rent|
|2||no relevant data for this city|
|4||no relevant data for this city|
|5||no relevant data for this city|
Is it important to look at yield in Accrington in further detail?
As you may be aware, rental yield is an extremely important metric to judge how effective a property is in terms of producing a return on investment. In the city of Accrington, there is an average of £0 for rental yield.
Accrington can be compared to the rest of the UK that tends to have an average of around 4.4% yield where the higher the yield the higher the return on the amount of money in the deal. This is because the area’s rental yield of £0 is first worked out by multiplying the monthly rent by twelve to find the annual rent. Then, you take away the associated costs of the property from the annual rental income to find the net rent. This net rent can then be divided by the purchase price and multiplied by 100 to find the rental yield as a percentage.
Average sold prices of properties on Rightmove
By looking at the below table taken from Rightmove data, you can gain great insights into the property market of Accrington. With an overall sold price of approximately £111,469, 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|
Frequently asked Questions
How much does the average property cost in Accrington according to Rightmove data?
At present, within the confines of Accrington, the mean price for houses listed for sale is £111,469.
In the process of property hunting on Rightmove in Accrington, do hidden costs come into play?
It’s essential for landlords to stay alert to an array of costs that you could be subject to as a landlord. These may include, stamp duty rates, costs that may come up due to renovation and also making sure they are aware of the things you can write off as a landlord in a limited company as opposed to your personal name.
Is there a lot of crime in the area of Accrington according to Rightmove?
The ongoing crime rate in Accrington indicates 16600% instances for every 1000 citizens.
According to online listings, what’s the count of property transactions per month in Accrington?
51 properties are sold in the area every month. A figure you should pay attention to, particularly if you are an investor looking to
On Rightmove, what is the average price of a three-bed property in Accrington?
For properties encompassing three bedrooms, the typical asking price hovers around £586. This can be contrasted with the mean property valuations.