Choosing the perfect location to buy property in the UK involves a lot of factors.
This piece discusses the nature of Rightmove (and other listing platforms) data for Bedford Park, aiming to guide your investment decisions.
It’s worth noting that currently, 17 properties are listed for sale and sold on Rightmove in this area every single month so you have an idea of your options to pick from.
We will also go over the properties for rent in the area on Rightmove if you are looking to become a new tenant.
Properties for sale in Bedford Park on Rightmove
In terms of the number of planning permission applications on Rightmove, what should there be in Bedford Park?
In the UK, planning applications result in a success rate of 82% most of the time. In Bedford Park, people plan to make modifications to their properties and apply for planning permission with a planning success rate of 88%.
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 22 monthly planning applications in Bedford Park, 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.
On average and according to Rightmove data, what do properties sell for?
When exploring the property market in Bedford Park, 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 £731,161, 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||no relevant data for this city|
How Rightmove listings in Bedford Park help you make an investment
Based on Rightmove, there is a lot of data you can gather about Bedford Park and there is a lot that can go towards making the decision to invest. So, the average rental yield of the area is £0. and the average asking rent based on Rightmove data is £2,202. In general, the higher this figure is for asking rent, the more the mortgage payments will likely be when you buy the property, hence the rental income has to go up in order to pay it off. It is also useful to find out the asking rent property by property. First of all, the average rent for a one bedroom property is W12, for a two bed is, £2,020, a three bed is £2,589. Finally, a four bed average asking price is £3,093, and a five bed, no relevant data for this city. Comparing these prices should allow you to work out what property to buy based on your budget and the mortgage that fits the average asking rent.
A deep dive into rental yield and how this impacts Bedford Park
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 Bedford Park, there is an average of £0 for rental yield.
Bedford Park 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.
Exploring Bedford Park’s real estate investment potential on Rightmove
As you delve into the property landscape of Bedford Park in the region of Greater London, 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 17. 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 0.87. Every decade population change should also be considered. This figure stands at 2% and positive changes generally show there is a growing population no matter if you are talking about a city or a wider region like Greater London.
Every month, properties are sold on the platform of Rightmove in Bedford Park and you can explore the topics below related to sales that give you an overview of the market.
How much outdoor space is there in Bedford Park?
In Bedford Park, the available data reveals that there are 13.1 acres of green space per thousand residents. By comparing this value to the recommended standard of 6, we can gauge the presence of green space in the area using statistics found on listing portals such as Rightmove.
Adequate green space is a valuable asset for all individuals as it has a huge impact on the mental and physical health of residents. Unfortunately, it is often compromised in numerous locations. For instance, in urban settings, the quantity of green space frequently falls short of the recommended measure of 6 acres of green space for every thousand individuals.
On Rightmove and in Bedford Park, how many HMOs are licenced?
Prospective tenants should be aware of the average asking price for a House in Multiple Occupation (HMO), which currently stands at no relevant data for this city.
Tenants should also consider how significant, if at all, the saving in rent is when comparing the price to rent in a normal house you do not have to share in Bedford Park.
Renting an HMO can provide a more affordable alternative to traditional rental arrangements and for context, there are a predicted 13,500 licenced HMOs in London. In Bedford Park, there are 1550 for comparison so you are able to tell how abundant this type of property is.
Do not think that all HMOs have to be small rooms with a lack of space either, you also have the option to rent out a HMO with an ensuite. The average rents for this type of room stands at £881.
According to Rightmove data from Bedford Park, what properties are renting?
Analysing the rate of education in Bedford Park from Rightmove
In the city of Bedford Park, the population is 48273. Out of all of these people, it is worth noting the education level. 43% have a degree (a higher level educational degree). Also, the average household income of the area is £54,216.99. This is important to understand for renters as if the degree level is above the average of 22.6%, your neighbours will likely be higher earners. This is not always the case and there are still other factors that determine the quality of your neighbours but taking a note of the degree is always useful.
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.
In Bedford Park, in terms of affordable housing and social rent, what does Rightmove data show?
Through some digging, we found the level of social rent in the area. Currently, this figure is 28% as the percentage of people who are leasing directly from the government. In the area of Bedford Park, the average household income is £54,216.99 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.
What are some frequently asked questions?
How much does the average property cost in Bedford Park according to Rightmove data?
At present, within the confines of Bedford Park, the mean price for houses listed for sale is £731,161.
Does exploring properties on Rightmove within Bedford Park come with any fees you may not be aware of?
Vigilance is key for landlords, encompassing factors like the stamp duty rate, renovation expenses, and the potential deductible costs based on whether the property is incorporated as a limited company or under your personal name.
Is there substantial criminal activity in the area around Bedford Park as indicated by Rightmove?
The ongoing crime rate in Bedford Park indicates 18400% instances for every 1000 citizens.
What are the house sales per month in Bedford Park?
To interpret the insights drawn by listing portals like Rightmove, begin by recognizing that the ongoing rate of houses sold per month is counted at 17 as of recent data.
What’s the usual price range for a three-bedroom property on Rightmove in Bedford Park?
For properties encompassing three bedrooms, the typical asking price hovers around £2,589. This can be contrasted with the mean property valuations.