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 Birmingham so you can make the best decisions and make money on your property purchases. Getting involved in one of the 7 property deals that come off the market each month.
In Birmingham, what property are people trying to rent on Rightmove?
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 Birmingham, 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 25% as the percentage of people who are leasing directly from the government. In the area of Birmingham, the average household income is £37,604.82 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.
Understanding education levels in the area of Birmingham
In the city of Birmingham, the population is 1027285. Out of all of these people, it is worth noting the education level. 25% have a degree (a higher level educational degree). Also, the average household income of the area is £37,604.82. 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.
Home listings in Birmingham on the platform of Rightmove
Is it important to look at yield in Birmingham in further detail?
Rental yield in Birmingham 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 Birmingham’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.
Exploring Birmingham’s real estate investment potential on Rightmove
When considering buying a house for an investment in the area of West Midlands, 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 7. 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 Birmingham it is 0.87. Finally, a growing population is always a good sign. The change in population that has happened over the last decade has been 8%. So, you can make of that as you will.
Property investment opportunities presented on Rightmove in Birmingham
In the area, average asking rents are around £1,001. 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 Birmingham.
|Average asking rent
|Number of bedrooms in house
|no relevant data for this city
|no relevant data for this city
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 Birmingham to other regions.
What is a commons purchase price for property on Rightmove?
When exploring the property market in Birmingham, 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 £204,531, this provides valuable insight into market trends.
Refer to the table below for a detailed breakdown of sold prices across different property categories.
|Average selling point
In Birmingham, what are the number of planning permission applications on Rightmove?
Applying for planning permission in Birmingham is something landlords tend to do if they want to add some value to their home. As of this month, there were 3 planning applications out of the 8,000 that roughly occur every month nationally. In order to further understand this figure, compare how large the population of the area is to this figure too.
The planning success rate of these applications is nan and the higher this is and the greater it is above the average success of 82%, the more likely it is that landlords are conducting easy renovations. This may therefore indicate that if you are looking to invest in property yourself in Birmingham too, there is a decent amount of opportunity to buy, renovate and make a profit.
What are the number of HMOs on Rightmove that are licenced in the area of Birmingham?
In Birmingham, 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 Birmingham is currently £599, usually slightly above what is asked to rent a normal room without an ensuite in a HMO.
How much outdoor space is there in Birmingham?
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 Birmingham, the current data indicates that there are 13.8 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
In the city of Birmingham, what is the median property price?
The mean property value in the UK is £286k but is changing all the time. Meanwhile, in the local area of Birmingham, the average cost of a home available for purchase is £204,531. You can compare these figures to see how far away this city is from the average.
Does exploring properties on Rightmove within Birmingham 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.
Does Rightmove data indicate a high occurrence of crime in the vicinity of Birmingham?
The city of Birmingham currently has a crime rate where for every 1000 people who live there 28037% 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 Birmingham 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 7. 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 Birmingham?
The mean asking price for a property featuring three bedrooms stands at £1,291.