Snodland Property - Do you know the Facts and Figures?
Here at Medway Premier Homes, we can guide you to the right places to identify property values and yields in Snodland and other useful property related information so you can make sure you get all the information you need about your future investments. Here are just a few property facts about Snodland.
Within the Snodland postcode, there are currently 127 streets within the ME6 postcode area with 5,051 households. Over the last 36 months, 691 properties have changed hands equates to around 13% of households in Snodland. With 83% of these were houses with a combined value of £1.2billion, with 59% of houses being a 3 bedroom property. The majority of the properties in Snodland are terraced which make up 44% of houses.
Flats in Snodland make up the remaining 16% of households in Snodland. With an average value of £166,952 per property. 1 bedroom flats represent almost half of the flats in Snodland. There has been an increase in the number of flats built since work started on the Holborough Lakes development over 10 years ago. Currently there 347 flats in Holborough Lakes which is almost 43% of flats in Snodland, this figure is only going to increase with a few more apartment blocks to be built in the development over the next couple of years.
Malling Road is the street which has had the most sales within the last 36 months with 13% of the properties on Malling Road sold (38 sales to be precise). Malling Road also has the highest number of properties in Snodland. Looking at figures from Zoopla show that the street that has the highest turnover is Willowside with a turnover of 65%. The Turnover is calculated by dividing the number of sales over the last 5 years (excluding new build properties) by the number of homes in a given area.
The Holborough Lakes development contributes to a large number of the properties in Snodland, with almost 17% coming from the development. Out of the £1.2 billion worth of property in Snodland, properties in Holborough Lakes contributes to just over 20% of the value of properties in Snodland. This figure will only increase once the development is completed. According to Zoopla, the 5 highest value streets in Snodland are all based in Holborough Lakes, with the top street being Twelve Acres Road with each property being valued at £502,110.
The average house prices in Snodland over the last 3 years have grown from £253,797 to £263,961 an increase of £10,164 which is a 3.85% increase over 3 years. There is a lot of fluctuations in the price of 5+ bedroom homes, this suggests that there is not enough of these sold over the last 3 years to give an accurate average.
Lets now look into the demographics in Snodland there are currently 10,333 people living in Snodland, the highest number of residents fall in the age group of 26-35 which make up almost 20% of the residents. With 45% spending 6 or more years in the same property.
The makeup of Snodland is that 65% are owner-occupied which is slightly above the national average of 63%, with only 8% of people in Snodland currently in private rental accommodation. Taking current figures from Zoopla the current average rent is £945pcm, which gives you a respectable 4% yield which is what we would expect in the Medway Towns. Which makes a good place to invest if you are either thinking to add to your existing portfolio or to invest for the first time.
Let’s now compare Snodland to the national average - Snodland has 15% less detached houses, 4% more semi-detached houses, 17% more terraced houses and 5% fewer flats. This is a good indicator that Snodland is a good place to buy a property.
If you would like more useful facts and figures or if you would like a 14-page report personalised to your property let me know and I can produce this for you.