At a Glance
Average Property Price - RM3
£406,768
68
National percentile
Average Monthly Rent - RM
£1,533
84
National percentile
Average Net Household Income - RM3
£44,379
74
National percentile
Flat / Maisonette Yield - RM
6.7%
97
National percentile
10-Year Annualised Price Growth - RM3
3.7%
53
National percentile
10-Year Annualised Rent Growth - RM
4.4%
80
National percentile
Property Price & Volume Trends
The average property price in RM3 is £407,000, placing it among the most expensive nationally. Over the past decade, prices have grown at 3.7% annually, a rate close to the national average. Transaction activity last year was 387 sales, notably below the area's 10-year average of 531, suggesting a softer recent market.
Rent & Yield Trends
Average monthly rent in the broader RM postcode area stands at £1,533, well above the national norm and among the highest across the country. Rents have grown at 4.4% annually over the past decade, significantly outpacing national trends. The flat yield has reached 6.7%, a marked improvement on the 10-year average of 5.5%, reflecting stronger rental returns in recent conditions.
Income & Affordability Trends
Average net household income is £44,379, comfortably above the national median. The current price-to-income ratio of 8.8x has improved substantially from 10.2x in 2016, indicating better purchase affordability relative to local earnings. However, rental affordability has deteriorated: the rent-to-income ratio has widened from 33.7% to 35.6%, meaning a larger share of income is now required to cover rent.
Resident Demographic Profile
The area skews notably younger than national norms, with 23.5% of residents under 15 compared to 17.5% nationally, and a correspondingly lower 65+ population at 13.1% versus 19.6%. Housing tenure is distinctive: social rented accommodation accounts for 31.2% of homes, double the national average, while owner-occupation with a mortgage is above average at 31.1%. The employment profile shows a higher proportion in trades (12.7% vs 10.5% nationally) and caring roles (10.6% vs 9.2%), with correspondingly fewer professionals (17.7% vs 20.5%).