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 Dudley so you can make the best decisions and make money on your property purchases. Getting involved in one of the 14 property deals that come off the market each month.
According to Rightmove data from Dudley, what properties are renting?
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.
How to examine income data from Rightmove for Dudley
When considering Dudley, its population reaches 148264 individuals. It is useful to note that around 21% of the residents have attained a higher level of education and the average household income in the area is £37,604.82. 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.
In Dudley, 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, 6% of individuals in Dudley 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 £37,604.82. Most people in the Uk earn around £34,000 which is convenient for comparison.
On Rightmove and in Dudley, how many HMOs are licenced?
Prospective tenants should be aware of the average asking price for a House in Multiple Occupation (HMO), which currently stands at no relevant data for this city.
Tenants should also consider how significant, if at all, the saving in rent is when comparing the price to rent in a normal house you do not have to share in Dudley.
Renting an HMO can provide a more affordable alternative to traditional rental arrangements and for context, there are a predicted 13,500 licenced HMOs in London. In Dudley, there are nan for comparison so you are able to tell how abundant this type of property is.
Do not think that all HMOs have to be small rooms with a lack of space either, you also have the option to rent out a HMO with an ensuite. The average rents for this type of room stands at no relevant data for this city.
How much outdoor space is there in Dudley?
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 Dudley, 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.
Home listings in Dudley on the platform of Rightmove
Average sold prices of properties on Rightmove
When exploring the property market in Dudley, 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 £210,995, 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|
Dudley’s rental yield on Rightmove explained
As you may be aware, rental yield is an extremely important metric to judge how effective a property is in terms of producing a return on investment. In the city of Dudley, there is an average of £0 for rental yield.
Dudley can be compared to the rest of the UK that tends to have an average of around 4.4% yield where the higher the yield the higher the return on the amount of money in the deal. This is because the area’s rental yield of £0 is first worked out by multiplying the monthly rent by twelve to find the annual rent. Then, you take away the associated costs of the property from the annual rental income to find the net rent. This net rent can then be divided by the purchase price and multiplied by 100 to find the rental yield as a percentage.
From Dudley’s Rightmove data, what are the number of planning permission applications?
82 out of every 100 applications for planning permission in the UK results in a success according to recent data. When it comes to Dudley, the people who own homes in this area have a rate of planning success of nan. Individuals usually seek to modify their properties and apply for planning permission whenever they are trying to increase the value of a home.
This means investors should take note of this data in Dudley. An above-average success rate indicates that property renovations have been proven to work and are repeatable or it could mean that a lot of the properties in the area are very simple in design. This presents an opportunity for investors to assess successful strategies in the area and adopt similar approaches and of the 13 that take place each month, this is likely the case a lot of the time.
The greater the number of sales per month in the area of Dudley, 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.
Exploring Dudley’s real estate investment potential on Rightmove
As you delve into the property landscape of Dudley 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 14. 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 4% 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.
How can property investments be made using Rightmove data?
In Dudley, the average asking rent in the area is £821 and there is a table below that goes over the asking rent for every type of property there is. Also, in Dudley, the average yield of properties is £0. A figure that can be used as a metric to gauge how profitable an investment is and compared to the national average of 4.4%.
See the table for a more extensive breakdown of how average asking rent is distributed.
|Number of bedrooms||Average asking rent|
|5||no relevant data for this city|
|4||no relevant data for this city|
|3||no relevant data for this city|
|2||no relevant data for this city|