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 Banwell so you can make the best decisions and make money on your property purchases. Getting involved in one of the 20 property deals that come off the market each month.
We help you find the right agent
At lofti we want to simplify your life and help you buy, sell or rent your property. We have assembled all the agent in Banwell to help you find the perfect agent for you
Properties for sale in Banwell on Rightmove
Investment analysis of Rightmove property in Banwell
In the area of Banwell, Rightmove records consistent sales of 20 properties each month, generating an average yearly turnover of nan. This turnover is just from property sales relative to the properties that there already are and 6% is the population change over ten years.
All of these pieces of data should be looked at as a whole and considered based on what you are looking for as an investor. For example, if an area’s population is declining and their turnover is above average (22%), it could indicate that there are a large number of people moving out of the area.
Sometimes, you aren’t able to find the right property in your area on Rightmove. So, check out if you want to keep looking in your wider UK region of South West by looking at further houses for sale here.
In terms of the number of planning permission applications on Rightmove, what should there be in Banwell?
82 out of every 100 applications for planning permission in the UK results in a success according to recent data. When it comes to Banwell, the people who own homes in this area have a rate of planning success of nan. Individuals usually seek to modify their properties and apply for planning permission whenever they are trying to increase the value of a home.
This means investors should take note of this data in Banwell. An above-average success rate indicates that property renovations have been proven to work and are repeatable or it could mean that a lot of the properties in the area are very simple in design. This presents an opportunity for investors to assess successful strategies in the area and adopt similar approaches and of the 6 that take place each month, this is likely the case a lot of the time.
Banwell’s rental yield on Rightmove explained
Rental yield in Banwell 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 Banwell’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.
In the area, using Rightmove data, what are most people selling their property for?
When exploring the property market in Banwell, UK, there is a lot of information that can be gathered on listing platforms and on Rightmove. The average sold price across all property types is approximately £237,811, this provides valuable insight into market trends.
Refer to the table below for a detailed breakdown of sold prices across different property categories.
| Property type | Average selling point |
|---|---|
| detached house | £308,468 |
| Semi-detached house | £224,046 |
| Terraced house | £202,695 |
| Flat | £147,163 |
A city such as Banwell has a fair amount of houses for sale on Rightmove. In the following headings, we go over all the relevant data related to Rightmove so you can begin the process of buying a house. Figuring out the best type of property to buy is a difficult process so it is useful to see all the relevant information condensed in one place.
Property investment opportunities presented on Rightmove in the city of Banwell
In the area, average asking rents are around £957. This tends to differ depending on the size of the property you are buying and the number of rooms they have. You can read more about these metrics below. For reference, the yields in the area are £0.
Combining the data of yield with the price of rent can give you a good idea about the types of investments in the area. For instance, if a property has a low yield and also low rents, it is likely a lower return, single family buy to let in a less in demand area of Banwell.
| Average asking rent | Number of bedrooms in house |
|---|---|
| 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 |
| BS24 | 1 |
What are the number of HMOs on Rightmove that are licenced in the area of Banwell?
In Banwell, of the total number of licensed HMOs (nan) 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 Banwell is currently no relevant data for this city, usually slightly above what is asked to rent a normal room without an ensuite in a HMO.
How much green space do properties have in Banwell 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 Banwell, the current data indicates that there are 20.1 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.
Properties to Rent in Banwell on Rightmove
How to examine income data from Rightmove for Banwell
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 £42,548.61 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.
Banwell’s demographics also reveal a population of 19035 individuals and a percentage of people with degrees falling at 21%. 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.
Sometimes, buying isn’t suitable for everyone. Fortunately, renting is also an option and there is a lot of data that can be gathered from Rightmove for this too.
What is the outlook for social rent and affordable housing according to Rightmove in Banwell?
Through some digging, we found the level of social rent in the area. Currently, this figure is 4% as the percentage of people who are leasing directly from the government. In the area of Banwell, the average household income is £42,548.61 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.
FAQ
In the city of Banwell, what is the median property price?
Currently, the average worth of a property in the UK stands at £286,000. Focusing locally on Banwell, the mean selling price for houses in the area is £237,811. You can look at these two numbers and see if the price in the area is higher or lower than what is the average figure for the rest of the UK.
In the process of property hunting on Rightmove in Banwell, 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 substantial criminal activity in the area around Banwell as indicated by Rightmove?
The city of Banwell currently has a crime rate where for every 1000 people who live there 7200% commit crimes. This can be looked at in terms of the national average of 79.52 for every 1000 people.
In Banwell, how many sales per month are there according to listing portals?
20 properties are sold in the area every month. A figure you should pay attention to, particularly if you are an investor looking to
What’s the usual price range for a three-bedroom property on Rightmove in Banwell?
Properties with three bedrooms command an average asking price of no relevant data for this city. This can be juxtaposed with the mean property price of the entire united kingdom which is £286,000. Or, for a more accurate figure, you can compare it to the average price of a three bed property in the UK which is £283,706.
0 Comments