Latest Property Investing News:

Information on local prices, rents, yields, growth & more in Wakefield

Population: 112,604
Households: 48,281
Density: 4,997/mi²

Home Sales Data:

Current average asking prices (based on 80% of properties)

Studio: Not enough market data to generate accurate statistics

1 Bed Homes: Average £88,000

2 bed Homes: Average £143,000

3 Bed homes: Average  £203,000

4 Bed homes: Average  £349,000

5 Bed homes: Average  £549,000

Current average sold house prices (based on 80% of properties)

Studio: Not enough market data to generate accurate statistics

1 Bed Homes: Average £76,000

2 bed Homes: Average £126,000

3 Bed homes: Average  £173,000

4 Bed homes: Average  £269,000

5 Bed homes: Average  £378,000

Rental Market Data:

Residential Homes to let in Wakefield: Average Monthly Rental Prices

Studio: Not enough market data to generate accurate statistics

1 Bed: £446 pcm

2 Bed: £623 pcm

3 Bed: £786 pcm

4 Bed: £1184 pcm

5 Bed: Not enough market data to generate accurate statistics

HMO Rooms to let in Wakefield

Double en suite £453 pcm

Double £393 pcm

Single en suite – Not enough market data to generate accurate statistics

Single: Not enough market data to generate accurate statistics

Supplementary Rental Property Market Data for Wakefield

96% Are furnished

65% Have parking

64% Have outside space

1% Have disabled access

68% Have living room

92% Include internet

16% Accept couples

27% Accept smokers

4% Accept pets

0% Housing allowance

Average yields for Residential PRS Properties to let in Wakefield

Studio – Insufficient data to accurately calculate yield

1 Bed – 5.8% typical yield

2 bed –  5.0% typical yield

3 Bed – 4.4% typical yield

4 Bed – 3.9% typical yield

5 Bed – Insufficient data to accurately calculate yield

Average yields for HMOs to let in Wakefield

Studio: This property size is not applicable for HMO room-let

1 bed: This property size is not applicable for HMO room-let

2 Bed –  6.6% typical yield

3 Bed –  6.9% typical yield

4 Bed –  5.4% typical yield

5 Bed –  4.3% typical yield

Investing in Wakefield Property Data

Average Growth in House Prices

Dec 2016    £180,509    4.3%

Dec 2017    £186,734    3.4%

Dec 2018    £194,267    4.0%

Dec 2019    £195,548    0.7%

Dec 2020    £204,838    4.8%

1 year: 5%

3 years: 10%

5 years: 18%

Property investing activity in Wakefield:

918 properties for sale

12+ months of inventory

365+ average days to sell

Currently it’s a Buyer’s market: Low demand, prices may fall

Rental market data for Wakefield

Average538 rentals per month

266 properties for rent

1.4 months of inventory

41.9 average days to rent

Currently it’s a Landlord’s market: High demand, rents may rise

Current Housing Stock for Wakefield investment area

Number of bedrooms:

Studio – 1%

1 bed – 12%

2 Bed – 30%

3 Bed – 30%

4 Bed – 22%

5 Bed – 5%

Property type:

Detached 21.2%

Semi Detached – 42.7%

Terraced 20.1%

Purpose Built Flat – 13.6%

Converted Flat 1.7%

Commercial Flat 0.7%

Demographics:

Average household income: £39,500

Crime rate 151 crimes per 1,000 residents in the last year

Considered an average crime rate.

Planning data:

Planning activity level: Very high

Number of applications: 433

Total est. construction cost: £274.7m

Application success rate: 98%

Source: https://propertydata.co.uk/ Data as of 6 December 2020