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 Bury, aiming to guide your investment decisions.
It’s worth noting that currently, 10 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 Bury, what does the property sales data look like based on Rightmove?
What is a commons purchase price for property on Rightmove?
When exploring the property market in Bury, 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 £194,560, 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
How to invest in property in Bury using Rightmove data
Based on Rightmove, there is a lot of data you can gather about Bury and there is a lot that can go towards making the decision to invest. So, the average rental yield of the area is £0. and the average asking rent based on Rightmove data is £869. In general, the higher this figure is for asking rent, the more the mortgage payments will likely be when you buy the property, hence the rental income has to go up in order to pay it off. It is also useful to find out the asking rent property by property. First of all, the average rent for a one bedroom property is BL0, for a two bed is, no relevant data for this city, a three bed is no relevant data for this city. Finally, a four bed average asking price is no relevant data for this city, and a five bed, no relevant data for this city. Comparing these prices should allow you to work out what property to buy based on your budget and the mortgage that fits the average asking rent.
An overview of Bury property in Rightmove from an investment perspective
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 10 properties are sold each month), you can work out the turnover too, which is nan in Bury.
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 3%. Also comparing this data to an area slightly bigger, such as North West by visiting our page for this, you can find additional data to help you on your search too.
In terms of the number of planning permission applications on Rightmove, what should there be in Bury?
The city of Bury, according to Rightmove listings, has a commendable planning success rate of 94% and there are around 9 that happen every month. These individuals showcase their ability to change a property and potentially add value through home improvement in Bury.
Linking rental yields with Rightmove property listings in Bury
Rental yield in Bury 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 Bury’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.
It is worth noting that the more homes sell on a monthly basis, the more buyers and competition there tend to be. This figure for Bury is talked about below and in the following headings.
Will you be moving into somewhere with a lot of green space if you moved to Bury?
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 Bury, the current data indicates that there are 15.7 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 Bury, how many HMOs are licenced?
In Bury, of the total number of licensed HMOs (3) 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 Bury 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.
In Bury, what property are people trying to rent on Rightmove?
What is the level of Rightmove affordable housing and social rent in Bury?
It is well researched and understood that humans like to associate themself with similar people and this is why it’s important to find an area where people are earning a similar amount to you. The percentage of people who are renting from the government is 3% in Bury. And they have an average household income of £38,011.63. If you think these numbers are similar to your financial situation or reflect an area you want to live in, then this is a good sign.
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.
Understanding education levels in the area of Bury
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.
Bury’s demographics also reveal a population of 101317 individuals and a percentage of people with degrees falling at 29%. 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.
Frequently asked Questions
What is the average property price in Bury on Rightmove?
The average property price for the UK currently stands at £286,000. In the local area of Bury, the average price of a house for sale in the area is £194,560
Are there any undisclosed expenses associated with property searches on Rightmove within Bury?
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 Bury as indicated by Rightmove?
The ongoing crime rate in Bury indicates 850% instances for every 1000 citizens.
How many monthly property sales does Bury witness according to listing platforms?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, consider that 10 properties are being sold every month.
On Rightmove, how much does a three-bed property typically cost in Bury?
Properties with three bedrooms command an average asking price of no relevant data for this city. This can be juxtaposed with the mean property price of the entire united kingdom which is £286,000. Or, for a more accurate figure, you can compare it to the average price of a three bed property in the UK which is £283,706.