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 Broomhill, aiming to guide your investment decisions.
It’s worth noting that currently, 28 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 the city of Broomhill, regarding Rightmove, what would it look like living in a HMO?
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 Broomhill.
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 Broomhill, there are nan 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 £432.
How much green space do properties have in Broomhill according to Rightmove?
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 Broomhill, the current data indicates that there are 17.6 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.
According to Rightmove data from Broomhill, what properties are renting?
Broomhill’s demographics and income insights based on Rightmove data
Within the city of Broomhill, the population amounts to 48200 individuals. Among these residents, it is notable that approximately 45% hold a higher-level educational degree. Furthermore, the average household income in the area stands at £38,733.33. For renters, it is essential to recognize that if the percentage of degree holders surpasses the regional average of 22.6%, your neighbours are likely to have higher incomes. Although other factors influence neighbour quality, acknowledging educational achievements proves beneficial.
In Broomhill, in terms of affordable housing and social rent, what does Rightmove data show?
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: 8%. Also, in Broomhill, the average amount that people earn per household is £38,733.33. 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.
Not everyone wants to buy a house, in the below headings, we go over what is useful to know when renting a property instead. Consider paying letting agents fees if you don’t want to find tenants yourself. Also, once you have researched your area in detail, make sure you have the right AST to sign them with.
On Rightmove, how are properties listed for sale?
Is it important to look at yield in Broomhill in further detail?
Broomhill 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 Broomhill, is worked out by dividing the net rental income of a property by the purchase 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 Broomhill to other regions.
From Broomhill’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 Broomhill, 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 19 monthly planning applications in Broomhill, 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.
Exploring Broomhill’s real estate investment potential on Rightmove
When weighing up an investment property, take into careful consideration the data provided by Rightmove as if you use them the right way, you can really use them to make informed decisions.
By closely examining the monthly property sales volume in the area and looking at this in relation to the number of homes there are (currently 28 properties are sold each month), you can work out the turnover too, which is 0.8 in Broomhill.
Even if these figures appear to be positive, it is still worth looking at other factors like the population difference over ten years which is 8%. Also comparing this data to an area slightly bigger, such as East Midlands by visiting our page for this, you can find additional data to help you on your search too.
Average sold prices of properties on Rightmove
The average sold price of properties in Broomhill, UK, available on Rightmove is £276,933. See the below table to work out what the sold price is based on detached housing, semi-detached housing, terraced housing and flats.
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How Rightmove listings in Broomhill help you make an investment
Rightmove data can tell you a lot about the average asking rents of the area of Broomhill. 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 £991.
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Uncover the typical property asking price in Broomhill through Rightmove data.
Currently, the average worth of a property in the UK stands at £286,000. Focusing locally on Broomhill, the mean selling price for houses in the area is £276,933. 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 Broomhill, are there any charges to consider?
Landlords should remain attentive to several financial considerations. These may include but are not limited to the costs of running the property, the rate of stamp duty and renovation costs.
Is there substantial criminal activity in the area around Broomhill as indicated by Rightmove?
The Broomhill community presently experiences a crime rate where 57 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.
In Broomhill, how many sales per month are there according to listing portals?
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 28 as of recent data.
What’s the usual price range for a three-bedroom property on Rightmove in Broomhill?
The average cost to rent a property with three bedrooms is £1,001. This can be weighed against the average property price trends.