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 Cheltenham so you can make the best decisions and make money on your property purchases. Getting involved in one of the 17 property deals that come off the market each month.
According to Rightmove data from Cheltenham, what properties are renting?
In Cheltenham, here’s what Rightmove data says about social rent and affordable housing
If you’re considering renting a property instead of buying, affordable options can be limited. According to Rightmove data, 7% of individuals in Cheltenham rent from the government or housing associations compared to the national average of 20.7%.
In general, if the percentage of people who have government housing is below the national average, you are more likely to see smaller houses. This may not be a bad thing as it all depends on personal preference and there are also other factors that contribute to the general feel of the area like household income which is £44,206.06. Most people in the Uk earn around £34,000 which is convenient for comparison.
Cheltenham’s demographics and income insights based on Rightmove data
In the city of Cheltenham, the population stands at 42616 individuals. Among this population, it is noteworthy to consider the educational levels. Approximately 44% of the residents hold a higher-level educational degree.
Additionally, the average household income in the area amounts to £44,206.06. 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.
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.
In the city of Cheltenham, regarding Rightmove, what would it look like living in a HMO?
The average asking price for a House in Multiple Occupation (HMO) in Cheltenham 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 Cheltenham is £545 and there are also 281 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.
Will you be moving into somewhere with a lot of green space if you moved to Cheltenham?
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 Cheltenham, this is 19.0. Compare this figure of 6 which is recommended to have and the data for Cheltenham to tell how much green space is around.
Properties for sale in Cheltenham on Rightmove
A look into Rightmove’s Cheltenham property as an Investment
In the area of Cheltenham, Rightmove records consistent sales of 17 properties each month, generating an average yearly turnover of 1.05. 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 South West by looking at further houses for sale here.
What is a commons purchase price for property on Rightmove?
The average sold price of properties in Cheltenham, UK, available on Rightmove is £367,570. 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||Average price|
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 Cheltenham is talked about below and in the following headings.
In Cheltenham, analysing Rightmove, what are the number of planning permission applications?
On Rightmove, there are a lot of people who plan to make amendments to their property and 8,000 people every month go through the process. In Cheltenham, this number is 12 every month and the success rate for planning permission is 95%.
Rightmove records planning success as a good metric for investors to get a gauge on how familiar people are with renovating their homes. A higher success indicates investors have done improvements before and they are good at renovation. This suggests that if you are looking to buy in Cheltenham, you may be able to do the same and make some money.
Linking rental yields with Rightmove property listings in Cheltenham
Cheltenham 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 Cheltenham, is worked out by dividing the net rental income of a property by the purchase price.
Property investment opportunities presented on Rightmove in Cheltenham
In the area, average asking rents are around £1,061. 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 Cheltenham.
|Average asking rent||Number of bedrooms in house|
|no relevant data for this city||5|
|no relevant data for this city||4|
Frequently Asked Questions by Rightmove users
Discover the mean property value in Cheltenham as reported on Rightmove.
The average property price for the UK currently stands at £286,000. In the local area of Cheltenham, the average price of a house for sale in the area is £367,570
In the process of property hunting on Rightmove in Cheltenham, do hidden costs come into play?
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 Cheltenham according to Rightmove?
The Cheltenham community presently experiences a crime rate where 13100% 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.
How many monthly property sales does Cheltenham witness according to listing platforms?
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 17 as of recent data.
According to Rightmove, what’s the mean price of a three-bedroom property in Cheltenham?
Properties with three bedrooms command an average asking price of £1,405. 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.