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 Castle Bromwich, aiming to guide your investment decisions.
It’s worth noting that currently, 15 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 Castle Bromwich, what does the property sales data look like based on Rightmove?
A quick insight into Rightmove property Castle Bromwich
As you delve into the property landscape of Castle Bromwich in the region of West Midlands, 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 15. 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 nan. Every decade population change should also be considered. This figure stands at 6% and positive changes generally show there is a growing population no matter if you are talking about a city or a wider region like West Midlands.
The greater the number of sales per month in the area of Castle Bromwich, the more it could be argued that the property market is improving. As you read on, consider this factor amongst others such as the type of property that is in the area.
Average sold prices of properties on Rightmove
When exploring the property market in Castle Bromwich, 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 £211,773, this provides valuable insight into market trends.
Refer to the table below for a detailed breakdown of sold prices across different property categories.
|Property type||Average selling point|
How Rightmove listings in Castle Bromwich help you make an investment
In the area, average asking rents are around £883. 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 Castle Bromwich.
|Average asking rent||Number of bedrooms in house|
|no relevant data for this city||5|
|no relevant data for this city||4|
|no relevant data for this city||3|
|no relevant data for this city||2|
In Castle Bromwich, what are the number of planning permission applications on Rightmove?
Applying for planning permission in Castle Bromwich is something landlords tend to do if they want to add some value to their home. As of this month, there were 12 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 Castle Bromwich too, there is a decent amount of opportunity to buy, renovate and make a profit.
Castle Bromwich’s rental yield on Rightmove explained
Rental yield is simply the annual amount of rent that is made from a property after expenses calculated as a percentage. As of 2023, the yield of Castle Bromwich is £0.
It is a wise idea to compare this figure to the rest of the UK. Areas with extremely high yields can get as high as 10% but on the low end where property is very expensive such as in Chelsea, London, yields can be as low as 1%. So use the figure of £0 for comparison.
Usually, when looking to invest in Castle Bromwich, landlords look for a mix of appreciation and high yields but the gains from capital appreciation aren’t realised until the property is sold.
According to Rightmove data from Castle Bromwich, what properties are renting?
In Castle Bromwich, in terms of affordable housing and social rent, what does Rightmove data show?
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 23% in Castle Bromwich. And they have an average household income of £37,604.82. 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.
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
How to examine income data from Rightmove for Castle Bromwich
In the city of Castle Bromwich, the population stands at 34865 individuals. Among this population, it is noteworthy to consider the educational levels. Approximately 12% of the residents hold a higher-level educational degree.
Additionally, the average household income in the area amounts to £37,604.82. This information is significant for renters, as a higher percentage of degree holders compared to the regional average of 22.6% suggests that your neighbours are likely to be higher earners. While other factors influence neighbour quality too, considering the education level remains beneficial as you’d likely want to be around people you are similar to.
In the city of Castle Bromwich, regarding Rightmove, what would it look like living in a HMO?
In Castle Bromwich, 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 Castle Bromwich 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.
Will you be moving into somewhere with a lot of green space if you moved to Castle Bromwich?
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 Castle Bromwich, 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.
What are some frequently asked questions?
In the city of Castle Bromwich, what is the median property price?
Currently, the average worth of a property in the UK stands at £286,000. Focusing locally on Castle Bromwich, the mean selling price for houses in the area is £211,773. 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.
On Rightmove, are there any hidden costs when searching for property in the city of Castle Bromwich?
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.
Does Rightmove data indicate a high occurrence of crime in the vicinity of Castle Bromwich?
The city of Castle Bromwich currently has a crime rate where for every 1000 people who live there 11500% commit crimes. This can be looked at in terms of the national average of 79.52 for every 1000 people.
What are the house sales per month in Castle Bromwich?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, consider that 15 properties are being sold every month.
According to Rightmove, what’s the mean price of a three-bedroom property in Castle Bromwich?
The average cost to rent a property with three bedrooms is no relevant data for this city. This can be weighed against the average property price trends.