9 properties are sold from Rightmove and other listing platforms every single month in the UK. In this article we plan to go over how to buy one of these properties and also how to rent from the platform of Rightmove too.
Cradley Heath contains a lot of information so read carefully and start to consider how to make sure you are involved in a beneficial property deal, whether you are buying or renting.
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A list of properties for Sale in Cradley Heath on Rightmove
What are properties sold for on average on Rightmove?
When exploring the property market in Cradley Heath, 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 £166,945, 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 |
|---|---|
| detached house | £253,092 |
| Semi-detached house | £159,352 |
| Terraced house | £137,007 |
| Flat | £91,128 |
In Cradley Heath, what are the number of planning permission applications on Rightmove?
In the UK, planning applications result in a success rate of 82% most of the time. In Cradley Heath, 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 Cradley Heath, 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 Cradley Heath help you make an investment
In the area, average asking rents are around £697. 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 Cradley Heath.
| 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 |
| B64 | 1 |
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 Cradley Heath is talked about below and in the following headings.
A closer look at rental yield on Rightmove in Cradley Heath
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 Cradley Heath 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 Cradley Heath, landlords look for a mix of appreciation and high yields but the gains from capital appreciation aren’t realised until the property is sold.
Exploring Cradley Heath’s real estate investment potential on Rightmove
When contemplating an investment property, you can look at the figures of turnover, the number of sales there are every month in the area, and the population change over ten years. The below table is related to the city rather than the wider area of West Midlands. However, you can find data for the wider region here.
| Data for Cradley Heath | Average for the UK | |
|---|---|---|
| Turnover | nan | 19% |
| Property sales per month | 9 | 576,000 |
| Population growth over 10 years | 7% | 6.5% |
It is worth noting that the figures above will be useful if you compare them to the wider region of the UK of West Midlands.
How much outdoor space is there in Cradley Heath?
In Cradley Heath, the available data reveals that there are 13.8 acres of green space per thousand residents. By comparing this value to the recommended standard of 6, we can gauge the presence of green space in the area using statistics found on listing portals such as Rightmove.
Adequate green space is a valuable asset for all individuals as it has a huge impact on the mental and physical health of residents. Unfortunately, it is often compromised in numerous locations. For instance, in urban settings, the quantity of green space frequently falls short of the recommended measure of 6 acres of green space for every thousand individuals.
According to Rightmove data in Cradley Heath, is it worth moving into a HMO?
Currently, the number of licensed HMOs stands at nan that come at an average price to rent of no relevant data for this city. You can also see the difference between the price of a standard HMO room and the average price of a HMO room with an ensuite which is no relevant data for this city.
This should give you an indication if it is worth the difference in price to upgrade to a room with a bathroom in Cradley Heath. Understanding where is best to rent in Cradley Heath involves considering the average asking price for a House in Multiple Occupation (HMO) and comparing this to normal rents.
In Cradley Heath, what property are people trying to rent on Rightmove?
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
What is the outlook for social rent and affordable housing according to Rightmove in Cradley Heath?
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: 24%. Also, in Cradley Heath, the average amount that people earn per household is £37,604.82. 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.
Cradley Heath’s demographics and income insights based on Rightmove data
In the city of Cradley Heath, the population is 16616. Out of all of these people, it is worth noting the education level. 15% have a degree (a higher level educational degree). Also, the average household income of the area is £37,604.82. This is important to understand for renters as if the degree level is above the average of 22.6%, your neighbours will likely be higher earners. This is not always the case and there are still other factors that determine the quality of your neighbours but taking a note of the degree is always useful.
Frequently Asked Questions by Rightmove users
Discover the mean property value in Cradley Heath as reported on Rightmove.
The average property price for the UK currently stands at £286,000. In the local area of Cradley Heath, the average price of a house for sale in the area is £166,945
On Rightmove, are there any hidden costs when searching for property in the city of Cradley Heath?
Costs that landlords should look out for include the rate of stamp duty, costs of renovation and also what the landlord deductible expenses are in a property based on if the property is a limited company or listed in your personal name.
Is there substantial criminal activity in the area around Cradley Heath as indicated by Rightmove?
The Cradley Heath community presently experiences a crime rate where 138 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.
What’s the frequency of property sales per month in Cradley Heath as reported by listing portals?
To comprehend the insights extracted from listing portals like Rightmove begin by acknowledging that the ongoing frequency of houses sold each month equates to 9. To learn more about houses for sale and why this data is important
On Rightmove, what is the average price of a three-bed property in Cradley Heath?
For properties encompassing three bedrooms, the typical asking price hovers around no relevant data for this city. This can be contrasted with the mean property valuations.
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