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 Bingley so you can make the best decisions and make money on your property purchases. Getting involved in one of the 19 property deals that come off the market each month.
Home listings in Bingley on the platform of Rightmove
A look into Rightmove’s Bingley property as an Investment
When contemplating an investment property, you can look at the figures of turnover, the number of sales there are every month in the area, and the population change over ten years. The below table is related to the city rather than the wider area of North West. However, you can find data for the wider region here.
|Data for Bingley||Average for the UK|
|Property sales per month||19||576,000|
|Population growth over 10 years||5%||6.5%|
It is worth noting that the figures above will be useful if you compare them to the wider region of the UK of North West.
How to invest in property in Bingley using Rightmove data
In Bingley, the average asking rent in the area is £698 and there is a table below that goes over the asking rent for every type of property there is. Also, in Bingley, the average yield of properties is £0. A figure that can be used as a metric to gauge how profitable an investment is and compared to the national average of 4.4%.
See the table for a more extensive breakdown of how average asking rent is distributed.
|Number of bedrooms||Average asking rent|
|5||no relevant data for this city|
|4||no relevant data for this city|
|2||no relevant data for this city|
On Rightmove, how many planning permission applications are there based in Bingley?
82 out of every 100 applications for planning permission in the UK results in a success according to recent data. When it comes to Bingley, the people who own homes in this area have a rate of planning success of 83%. 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 Bingley. 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 9 that take place each month, this is likely the case a lot of the time.
Linking rental yields with Rightmove property listings in Bingley
Rental yield is simply the annual amount of rent that is made from a property after expenses calculated as a percentage. As of 2023, the yield of Bingley is £0.
It is a wise idea to compare this figure to the rest of the UK. Areas with extremely high yields can get as high as 10% but on the low end where property is very expensive such as in Chelsea, London, yields can be as low as 1%. So use the figure of £0 for comparison.
Usually, when looking to invest in Bingley, landlords look for a mix of appreciation and high yields but the gains from capital appreciation aren’t realised until the property is sold.
What is a commons purchase price for property on Rightmove?
The average sold price of properties in Bingley, UK, available on Rightmove is £195,071. See the below table to work out what the sold price is based on detached housing, semi-detached housing, terraced housing and flats.
|Category of property||Average price|
Looking to buy a house? Rightmove offers a diverse selection of properties for sale. Some of these listings are sold to homeowners and some are sold to investors looking to make a return. Check out more data related to properties for sale in other areas by checking out our list of properties that are for sale throughout the UK if you are interested in comparing Bingley to other regions.
In Bingley, what property are people trying to rent on Rightmove?
What is the outlook for social rent and affordable housing according to Rightmove in Bingley?
If you’re considering renting a property instead of buying, affordable options can be limited. According to Rightmove data, 6% of individuals in Bingley rent from the government or housing associations compared to the national average of 20.7%.
In general, if the percentage of people who have government housing is below the national average, you are more likely to see smaller houses. This may not be a bad thing as it all depends on personal preference and there are also other factors that contribute to the general feel of the area like household income which is £38,322.37. Most people in the Uk earn around £34,000 which is convenient for comparison.
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.
Analysing the rate of education in Bingley from Rightmove
When considering Bingley, its population reaches 25301 individuals. It is useful to note that around 31% of the residents have attained a higher level of education and the average household income in the area is £38,322.37. 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.
Will you be moving into somewhere with a lot of green space if you moved to Bingley?
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 Bingley, the current data indicates that there are 14.6 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.
On Rightmove and in Bingley, how many HMOs are licenced?
In Bingley, of the total number of licensed HMOs (65) 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 Bingley 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.
Frequently asked Questions
Discover the mean property value in Bingley as reported on Rightmove.
Currently, the average worth of a property in the UK stands at £286,000. Focusing locally on Bingley, the mean selling price for houses in the area is £195,071. 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.
When utilising Rightmove for finding property in Bingley, are there any charges to consider?
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.
Based on Rightmove’s information, what’s the level of criminal activity in the Bingley area?
The city of Bingley currently has a crime rate where for every 1000 people who live there 8500% commit crimes. This can be looked at in terms of the national average of 79.52 for every 1000 people.
How many monthly property sales does Bingley witness according to listing platforms?
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 19. 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 Bingley?
The mean asking price for a property featuring three bedrooms stands at £715.