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 Colyton so you can make the best decisions and make money on your property purchases. Getting involved in one of the 3 property deals that come off the market each month.
In Colyton, what does the property sales data look like based on Rightmove?
A deep dive into rental yield and how this impacts Colyton
Rental yield in Colyton is no relevant data for this city 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 Colyton’s yield of no relevant data for this city 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.
What are properties sold for on average on Rightmove?
Using Rightmove, there is an average sold price of property that is £359,288 in Colyton. The average sold price provides a benchmark for understanding property values in the area and you may want to look at a more detailed overview of individual types of property below.
|Property category||Average price of property|
|Flat||no relevant data for this city|
From Colyton’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 Colyton, 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 3 monthly planning applications in Colyton, 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.
How Rightmove listings in Colyton help you make an investment
There is a fair amount of insight that you can gather from the city of Colyton by looking at Rightmove data. You can use all of this data in order to invest properly armed with the right information. To begin, let’s have a look at the most important data that someone looks for when evaluating an investment in the area, no relevant data for this city is the average rental yield and the average asking rent is no relevant data for this city.
The average for these figures are 4.4% and £1,143 respectively. You can make an investment work in any area and there is even less you won’t have to worry about these figures if you are buying to live in this home. So, look at the below figures with an element of reason and be prepared to make changes to the rent using a
section 13 rent increase as a landlord if there are changes in the economy and the cost to run a property goes up.
|Number of bedrooms||Average asking rent|
|2||no relevant data for this city|
|3||no relevant data for this city|
|4||no relevant data for this city|
|5||no relevant data for this city|
Every month, properties are sold on the platform of Rightmove in Colyton and you can explore the topics below related to sales that give you an overview of the market.
Exploring Colyton’s real estate investment potential on Rightmove
In the area of Colyton, Rightmove records consistent sales of 3 properties each month, generating an average yearly turnover of nan. This turnover is just from property sales relative to the properties that there already are and 12% 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.
From Rightmove listings, what is the availability of green space in Colyton
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 Colyton, this is 17.1. Compare this figure of 6 which is recommended to have and the data for Colyton to tell how much green space is around.
According to Rightmove data in Colyton, is it worth moving into a HMO?
When it comes to renting in Colyton, it’s important to consider the average asking price for a House in Multiple Occupation (HMO), which is no relevant data for this city. This data is particularly valuable for individuals seeking affordable rental options or like the idea of renting with housemates. If you are looking for more of an expensive property, there are no relevant data for this city HMO properties with an ensuite too. Contrary to what you may believe, not all HMOs have to be cramped with a lack of space. A HMO with an ensuite will mean you won’t have to come out of your room to use the bathroom, making things very convenient.
According to the most recent Rightmove data, there are a total of nan licensed HMOs in Colyton, giving you an idea of the variety and options available in the market.
According to Rightmove data from Colyton, what properties are renting?
Understanding education levels in the area of Colyton
When considering Colyton, its population reaches 3727 individuals. It is useful to note that around 31% of the residents have attained a higher level of education and the average household income in the area is £39,730.00. 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.
Sometimes, buying isn’t suitable for everyone. Fortunately, renting is also an option and there is a lot of data that can be gathered from Rightmove for this too.
In Colyton, here’s what Rightmove data says about social rent and affordable housing
Not everyone is inclined to purchase a house and in fact, some people are actually struggling with renting to the extent that they have to rent from the government. According to data scraped from Rightmove and listing portals that are popular in the UK, 7% of individuals in Colyton rely on government rent and the average household income in the district is £39,730.00.
Always visit an area too to find out what the area is truly like and compare these figures to the national averages of 22.6% (on social rent) and £34,000 (in household earnings per year). Most people prefer to live amongst people where their incomes are similar.
If you are a tenant, perhaps move in as a lodger in an excluded tenancy agreement instead of as an assured tenant. While you have fewer rights, a tenancy may be easier to secure.