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 Blackpool so you can make the best decisions and make money on your property purchases. Getting involved in one of the 38 property deals that come off the market each month.
Will you be moving into somewhere with a lot of green space if you moved to Blackpool?
Green space is a vital element that is often compromised in different locations, hindering its availability. For instance, urban areas frequently fall short of the recommended benchmark of 6 acres of green space per thousand people. In Blackpool, the available data reveals that there are 15.7 acres of green space per thousand residents. For health reasons, there should be 6 acres.
In the city of Blackpool, regarding Rightmove, what would it look like living in a HMO?
The average asking price for a House in Multiple Occupation (HMO) in Blackpool is no relevant data for this city. Understanding this information is essential for anyone interested in saving some money on rent because Houses of Multiple Occupancy tend to be cheaper to rent than any other type of property.
By opting for shared living arrangements within a HMO, you can also get an ensuite in your room too. The average price of a room with an ensuite in a HMO in the city of Blackpool is £472 and there are also 69 in the area in total. This number of licenced HMO properties should be looked at in relation to the fact there are 56,000 properties that are licenced in the whole of the UK so you can see how much this area contains.
Home listings in Blackpool on the platform of Rightmove
From Blackpool’s Rightmove data, what are the number of planning permission applications?
In the UK, planning applications result in a success rate of 82% most of the time. In Blackpool, people plan to make modifications to their properties and apply for planning permission with a planning success rate of 83%.
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 9 monthly planning applications in Blackpool, 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.
In the area, using Rightmove data, what are most people selling their property for?
The average sold price of properties in Blackpool, UK, available on Rightmove is £115,561. 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
An overview of Blackpool property in Rightmove from an investment perspective
In the area of Blackpool, Rightmove records consistent sales of 38 properties each month, generating an average yearly turnover of 0.61. This turnover is just from property sales relative to the properties that there already are and -2% 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 North West by looking at further houses for sale here.
How Rightmove listings in Blackpool help you make an investment
In Blackpool, the average asking rent in the area is £557 and there is a table below that goes over the asking rent for every type of property there is. Also, in Blackpool, 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
|no relevant data for this city
|no relevant data for this city
A deep dive into rental yield and how this impacts Blackpool
A serious investor will know what yield is and how to work it out. The formula is true for Blackpool and everywhere else in the UK. Simply calculate net rental yield and the purchase price of the home and then divide the former by the latter. When this calculation is done, for Blackpool the figure is £0.
This £0 as a percentage is essentially the amount of money that a landlord makes from the deal in relation to the amount of money they have invested. Take a look at other calculations too like return on capital invested to get a return that is comparable to a direct “return on investment” calculation such as that of a bank.
Every month, properties are sold on the platform of Rightmove in Blackpool and you can explore the topics below related to sales that give you an overview of the market.
According to Rightmove data from Blackpool, what properties are renting?
What is the outlook for social rent and affordable housing according to Rightmove in Blackpool?
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: 10%. Also, in Blackpool, 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.
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.
How to examine income data from Rightmove for Blackpool
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 £38,011.63 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.
Blackpool’s demographics also reveal a population of 109057 individuals and a percentage of people with degrees falling at 15%. 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.
In the city of Blackpool, what is the median property price?
In Blackpool, the mean price for residential properties up for sale is £115,561. The mean price for the average property valuation across the UK is £286,000.
Does exploring properties on Rightmove within Blackpool come with any fees you may not be aware of?
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 Blackpool area?
The Blackpool community presently experiences a crime rate where 27967% infractions are documented for every 1000 inhabitants. A reference point is the national average of 79.52 incidents for every 1000 individuals. So, if the crime rate in the area is above this figure, there is more crime than usual. If it is below this figure then there is less crime than usual.
What’s the frequency of property sales per month in Blackpool as reported by listing portals?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, consider that 38 properties are being sold every month.
What’s the average cost of a three-bedroom property in Blackpool as per Rightmove data?
For properties encompassing three bedrooms, the typical asking price hovers around £605. This can be contrasted with the mean property valuations.