2 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.
Isle of Wight 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.
How much outdoor space is there in Isle of Wight?
Green space is a vital element that is often compromised in different locations, hindering its availability. For instance, urban areas frequently fall short of the recommended benchmark of 6 acres of green space per thousand people. In Isle of Wight, the available data reveals that there are 16.9 acres of green space per thousand residents. For health reasons, there should be 6 acres.
How many HMOs are licenced in the city of Isle of Wight on Rightmove?
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 Isle of Wight.
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 Isle of Wight, 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.
Home listings in Isle of Wight on the platform of Rightmove
In the area, using Rightmove data, what are most people selling their property for?
The average sold price of properties in Isle of Wight, UK, available on Rightmove is £295,880. 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|
A city such as Isle of Wight has a fair amount of houses for sale on Rightmove. In the following headings, we go over all the relevant data related to Rightmove so you can begin the process of buying a house. Figuring out the best type of property to buy is a difficult process so it is useful to see all the relevant information condensed in one place.
From Isle of Wight’s Rightmove data, 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 Isle of Wight, this number is 3 every month and the success rate for planning permission is nan.
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 Isle of Wight, you may be able to do the same and make some money.
How to invest in property in Isle of Wight using Rightmove data
Based on Rightmove, there is a lot of data you can gather about Isle of Wight and there is a lot that can go towards making the decision to invest. So, the average rental yield of the area is no relevant data for this city. and the average asking rent based on Rightmove data is no relevant data for this city. 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 PO34, 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.
An overview of Isle of Wight property in Rightmove from an investment perspective
In the area of Isle of Wight, Rightmove records consistent sales of 2 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 3% 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 East by looking at further houses for sale here.
A deep dive into rental yield and how this impacts Isle of Wight
A serious investor will know what yield is and how to work it out. The formula is true for Isle of Wight and everywhere else in the UK. Simply calculate net rental yield and the purchase price of the home and then divide the former by the latter. When this calculation is done, for Isle of Wight the figure is no relevant data for this city.
This no relevant data for this city as a percentage is essentially the amount of money that a landlord makes from the deal in relation to the amount of money they have invested. Take a look at other calculations too like return on capital invested to get a return that is comparable to a direct “return on investment” calculation such as that of a bank.
Properties to Rent in Isle of Wight on Rightmove
Isle of Wight’s demographics and income insights based on Rightmove data
Within the city of Isle of Wight, the population amounts to 13743 individuals. Among these residents, it is notable that approximately 25% hold a higher-level educational degree. Furthermore, the average household income in the area stands at £36,300.00. For renters, it is essential to recognize that if the percentage of degree holders surpasses the regional average of 22.6%, your neighbours are likely to have higher incomes. Although other factors influence neighbour quality, acknowledging educational achievements proves beneficial.
What is the level of Rightmove affordable housing and social rent in Isle of Wight?
It is well researched and understood that humans like to associate themself with similar people and this is why it’s important to find an area where people are earning a similar amount to you. The percentage of people who are renting from the government is 5% in Isle of Wight. And they have an average household income of £36,300.00. If you think these numbers are similar to your financial situation or reflect an area you want to live in, then this is a good sign.
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
Frequently asked Questions
Uncover the typical property asking price in Isle of Wight through Rightmove data.
Currently, the average worth of a property in the UK stands at £286,000. Focusing locally on Isle of Wight, the mean selling price for houses in the area is £295,880. You can look at these two numbers and see if the price in the area is higher or lower than what is the average figure for the rest of the UK.
Does exploring properties on Rightmove within Isle of Wight come with any fees you may not be aware of?
Vigilance is key for landlords, encompassing factors like the stamp duty rate, renovation expenses, and the potential deductible costs based on whether the property is incorporated as a limited company or under your personal name.
According to Rightmove data, how prevalent is crime in Isle of Wight’s vicinity?
The city of Isle of Wight currently has a crime rate where for every 1000 people who live there 6967% commit crimes. This can be looked at in terms of the national average of 79.52 for every 1000 people.
How many monthly property sales does Isle of Wight 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 2 as of recent data.
On Rightmove, what is the average price of a three-bed property in Isle of Wight?
Properties with three bedrooms command an average asking price of no relevant data for this city. 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.