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 Broomfield, aiming to guide your investment decisions.
It’s worth noting that currently, 53 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.
In Broomfield, what property are people trying to rent on Rightmove?
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
Broomfield’s demographics and income insights based on Rightmove data
When considering Broomfield, its population reaches 72887 individuals. It is useful to note that around 26% of the residents have attained a higher level of education and the average household income in the area is £42,548.61. 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.
In Broomfield, 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 9% as the percentage of people who are leasing directly from the government. In the area of Broomfield, 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.
On Rightmove, how are properties listed for sale?
What are properties sold for on average on Rightmove?
By looking at the below table taken from Rightmove data, you can gain great insights into the property market of Broomfield. With an overall sold price of approximately £319,450, according to Rightmove and further listing platforms such as Zoopla, buyers can now make an informed decision as to whether this suits their budget.
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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 Broomfield to other regions.
A closer look at rental yield on Rightmove in Broomfield
Broomfield averages at £0 for rental yield and this should be looked at in comparison with the average for the UK which tends to fluctuate around 4.4%. Having said this, rental yields can drop as low as 1% in the central areas of London and rise to as high as 9% in areas with high rental demand such as Stoke.
Yield, which is £0 in Broomfield, is worked out by dividing the net rental income of a property by the purchase price.
From Broomfield’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 Broomfield, people plan to make modifications to their properties and apply for planning permission with a planning success rate of nan.
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 44 monthly planning applications in Broomfield, 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.
A quick insight into Rightmove property Broomfield
As you delve into the property landscape of Broomfield in the region of South West, 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 53. 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 1.6. Every decade population change should also be considered. This figure stands at 8% and positive changes generally show there is a growing population no matter if you are talking about a city or a wider region like South West.
How Rightmove listings in Broomfield help you make an investment
Rightmove data can tell you a lot about the average asking rents of the area of Broomfield. For example, the table below goes over how rents are distributed according to the number of rooms in the property. Also, the national figure for rental yield that is most common is 4.4%. The £0 which is the average yield of rent in the area can be compared for reference.
Read on to see what kind of rent you are looking to charge if you bought a property to see what size is best. Bear in mind as you do so that the average amount of rent that is asked for is £1,244.
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How much green space do properties have in Broomfield according to Rightmove?
Green space is something that is recommended to everyone to have but then again, it is often compromised in a lot of locations. For instance, in cities, the amount of green space is often well below the recommended figure of 6 acres of green space for every thousand people. In Broomfield, this is 20.1. Compare this figure of 6 which is recommended to have and the data for Broomfield to tell how much green space is around.
On Rightmove and in Broomfield, how many HMOs are licenced?
Currently, the number of licensed HMOs stands at nan that come at an average price to rent of no relevant data for this city. You can also see the difference between the price of a standard HMO room and the average price of a HMO room with an ensuite which is £611.
This should give you an indication if it is worth the difference in price to upgrade to a room with a bathroom in Broomfield. Understanding where is best to rent in Broomfield involves considering the average asking price for a House in Multiple Occupation (HMO) and comparing this to normal rents.
Uncover the typical property asking price in Broomfield through Rightmove data.
The mean property value in the UK is £286k but is changing all the time. Meanwhile, in the local area of Broomfield, the average cost of a home available for purchase is £319,450. You can compare these figures to see how far away this city is from the average.
When utilising Rightmove for finding property in Broomfield, are there any charges to consider?
Landlords need to be vigilant about various expenses, including stamp duty rates, capital gains tax, renovation expenditures, and the deductible costs applicable to properties in a personal name. (relevant for UK property)
Is there a lot of crime in the area of Broomfield according to Rightmove?
In Broomfield, the prevailing crime rate results in 9600% occurrences for every 1000 residents. This contrasts with the nationwide average of 79.52 incidents for every 1000 individuals.
What’s the frequency of property sales per month in Broomfield as reported by listing portals?
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 53. 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.
On Rightmove, how much does a three-bed property typically cost in Broomfield?
The average price for a property that has three bedrooms is £1,326. This can be compared to average property prices