Deciding on the right property to purchase in the UK is a big deal. The decision to rent and where to rent is also a huge decision too. This article goes over the Rightmove data related to East Molesey and analyses just how good of an area it is to find somewhere to buy or to rent.
By the end of the article, you should be able to make an informed decision and pick from the list of properties to rent or the 12 number of properties that are sold.
What are the number of HMOs on Rightmove that are licenced in the area of East Molesey?
In East Molesey, of the total number of licensed HMOs (5) 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 East Molesey 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 East Molesey?
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 East Molesey, this is 43.0. Compare this figure of 6 which is recommended to have and the data for East Molesey to tell how much green space is around.
A list of properties for Sale in East Molesey on Rightmove
In the area, using Rightmove data, what are most people selling their property for?
In the area of East Molesey in the UK, the average sold price of a property is around £536,188. This is based on the average of all of the types of property listed on Rightmove and other listing platforms. Take a look below to see how this average is made up:
|Type of property||Average sold price|
|Semi detached house||£595,430|
A closer look at rental yield on Rightmove in East Molesey
East Molesey 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 East Molesey, is worked out by dividing the net rental income of a property by the purchase price.
The greater the number of sales per month in the area of East Molesey, 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.
In terms of the number of planning permission applications on Rightmove, what should there be in East Molesey?
Applying for planning permission in East Molesey is something landlords tend to do if they want to add some value to their home. As of this month, there were 20 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 80% 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 East Molesey too, there is a decent amount of opportunity to buy, renovate and make a profit.
An overview of East Molesey property in Rightmove from an investment perspective
In the area of East Molesey, Rightmove records consistent sales of 12 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 5% 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 Greater London by looking at further houses for sale here.
Property investment opportunities presented on Rightmove in East Molesey
Based on Rightmove, there is a lot of data you can gather about East Molesey and there is a lot that can go towards making the decision to invest. So, the average rental yield of the area is £0. and the average asking rent based on Rightmove data is £1,695. In general, the higher this figure is for asking rent, the more the mortgage payments will likely be when you buy the property, hence the rental income has to go up in order to pay it off. It is also useful to find out the asking rent property by property. First of all, the average rent for a one bedroom property is KT8, for a two bed is, no relevant data for this city, a three bed is no relevant data for this city. Finally, a four bed average asking price is no relevant data for this city, and a five bed, no relevant data for this city. Comparing these prices should allow you to work out what property to buy based on your budget and the mortgage that fits the average asking rent.
Properties to Rent in East Molesey on Rightmove
What is the Rightmove data regarding social rent and affordable housing in East Molesey?
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, 6% of individuals in East Molesey rely on government rent and the average household income in the district is £59,347.27.
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.
Understanding education levels in the area of East Molesey
In the city of East Molesey, the population is 19484. Out of all of these people, it is worth noting the education level. 38% have a degree (a higher level educational degree). Also, the average household income of the area is £59,347.27. 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.
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.