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 Reading so you can make the best decisions and make money on your property purchases. Getting involved in one of the 31 property deals that come off the market each month.
Home listings in Reading on the platform of Rightmove
What are properties sold for on average on Rightmove?
In the area of Reading in the UK, the average sold price of a property is around £327,804. 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
The greater the number of sales per month in the area of Reading, 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.
A closer look at rental yield on Rightmove in Reading
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 Reading 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 Reading, landlords look for a mix of appreciation and high yields but the gains from capital appreciation aren’t realised until the property is sold.
An overview of Reading property in Rightmove from an investment perspective
When considering buying a house for an investment in the area of South East, you can click here to find further information about houses for sale. There are also a few metrics to look at that make the investment more appealing.
For instance, you should look at the number of property sales that the area has every month which is 31. This, alongside the city’s relative population, should give you an indication of the turnover. The turnover is a piece of data that looks at how many houses have been sold in relation to the number of properties there are.
On average throughout the UK, in a calendar year, this data is around 22% but for Reading it is 1.27. Finally, a growing population is always a good sign. The change in population that has happened over the last decade has been 6%. So, you can make of that as you will.
How to invest in property in Reading using Rightmove data
In Reading, the average asking rent in the area is £1,382 and there is a table below that goes over the asking rent for every type of property there is. Also, in Reading, 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
|no relevant data for this city
In Reading, what are the number of planning permission applications on Rightmove?
82 out of every 100 applications for planning permission in the UK results in a success according to recent data. When it comes to Reading, the people who own homes in this area have a rate of planning success of 88%. 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 Reading. 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 8 that take place each month, this is likely the case a lot of the time.
According to Rightmove data from Reading, what properties are renting?
What is the level of Rightmove affordable housing and social rent in Reading?
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: 14%. Also, in Reading, the average amount that people earn per household is £58,393.33. 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.
If you are looking to rent a property, consider the data below that will help you decide on renting your next premises.
Understanding education levels in the area of Reading
In the city of Reading, the population stands at 122610 individuals. Among this population, it is noteworthy to consider the educational levels. Approximately 36% of the residents hold a higher-level educational degree.
Additionally, the average household income in the area amounts to £58,393.33. This information is significant for renters, as a higher percentage of degree holders compared to the regional average of 22.6% suggests that your neighbours are likely to be higher earners. While other factors influence neighbour quality too, considering the education level remains beneficial as you’d likely want to be around people you are similar to.
How much green space do properties have in Reading according to Rightmove?
Green space is universally recommended but unfortunately often compromised in various locations. In cities, the amount of green space often falls below the recommended threshold of 6 acres of green space per thousand people.
In Reading, the current data indicates the presence of 23.1 acres of green space per thousand residents. By comparing this value to the recommended benchmark of 6, we can evaluate the sufficiency of green space in the area.
According to Rightmove data in Reading, is it worth moving into a HMO?
In Reading, of the total number of licensed HMOs (835) 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 Reading is currently £625, usually slightly above what is asked to rent a normal room without an ensuite in a HMO.
What questions are asked most frequently?
How much does the average property cost in Reading according to Rightmove data?
The average property price for the UK currently stands at £286,000. In the local area of Reading, the average price of a house for sale in the area is £327,804
Does exploring properties on Rightmove within Reading come with any fees you may not be aware of?
It’s essential for landlords to stay alert to an array of costs that you could be subject to as a landlord. These may include, stamp duty rates, costs that may come up due to renovation and also making sure they are aware of the things you can write off as a landlord in a limited company as opposed to your personal name.
Does Rightmove data indicate a high occurrence of crime in the vicinity of Reading?
The ongoing crime rate in Reading indicates 12733% instances for every 1000 citizens.
What are the house sales per month in Reading?
To comprehend the insights extracted from listing portals like Rightmove begin by acknowledging that the ongoing frequency of houses sold each month equates to 31. 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 Reading?
The mean asking price for a property featuring three bedrooms stands at £1,540.