What is it like buying a house in Allanton?

Allanton might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of North Lanarkshire.
Before looking for a house for sale in the city of Allanton we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Allanton.

Always consider average rental yield when searching for houses for sale in Allanton

In Allanton, how has the number of houses changed?

The growth of an area like Allanton can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Allanton growth rate 2% 8% no relevant data for this city

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Allanton if you want to find out the exact reasons for the housing change.

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Allanton to North Lanarkshire and the broader suburb of the UK; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Allanton 5.5% £637 no relevant data for this city 46.5%
North Lanarkshire 4.70% £634 no relevant data for this city 59.85%
Scotland 5.48% £871 125.36% 59.40%

Let’s assume you want to sell the house you’re looking to buy in Allanton for profit in the future, in this case, looking at the data for the number of houses sold per month in Allanton would give you an idea of whether the area is actively getting new investors. This figure is 90.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Allanton. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

In general, what do houses for sale sell for in Allanton?

For the city of Allanton, the average price a house sells for is £111,940. This value usually depends on the exact location of the house within Allanton as well as other factors like the population growth in Allanton which is 2% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £220,043
Aerage sold price (semi-detached) £122,147
Aerage sold price (terraced) £94,662
Aerage sold price (flat) £69,795

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Allanton.

Housing category Sale price per square foot
Aerage sold price/sqft £1,325
Aerage sold price/sqft (new build) £1,325
Aerage sold price/sqft (old stock) £1,315

Generalising the bottom table, the average value per square foot of a house for sale is £1,430. This value averages all of the types of houses for sale in Allanton. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Allanton.

In Allanton, what is the asking price in general for a house for sale?

When investors make offers for houses for sale in Allanton, the average price asked by the homeowners works out to be £149,833.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Allanton is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Table showing the asking prices for houses for sale in Allanton

Average asking price (1 bed) £63,201
Average asking price (2 bed) £91,721
Average asking price (3 bed) £170,144
Average asking price (4 bed) £306,812
Average asking price (5 bed) no relevant data for this city

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £980. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Allanton has a lack of supply of housing in certain categories.

Are there any important statistics about the population of Allanton?

In Allanton, what are the deprivation levels like?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of no relevant data for this city for Allanton should give you a nice idea of the deprivation in the area.

Is the crime rate bad in the city of Allanton?

In Allanton, for every 1000 people, there is currently a crime rate of no relevant data for this city. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (no relevant data for this city for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

In the city of Allanton, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of North Lanarkshire for example.

These demographics for Allanton may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Allanton in Scotland.

What is the population of Allanton?

Population growth in Allanton is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Allanton, 67,186 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Allanton in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Allanton, this change has been 2%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 2%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Allanton?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 2% in Allanton.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

How much are those living in Allanton earning?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is no relevant data for this city.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Allanton this figure is no relevant data for this city.

In Allanton, what is the social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.

The number of people in Allanton in grades A or B which are the highest skilled roles in the country is no relevant data for this city. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, no relevant data for this city is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at no relevant data for this city.

For the city of Allanton, what is the education level?

Interestingly, the percentage of people who have a degree in the city of Allanton is no relevant data for this city. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Allanton is no relevant data for this city.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

How much green space is available to residents of Allanton?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Allanton, 17.9 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Allanton.

Professional advice for houses for sale in Allanton

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

A house for sale appropriate to your needs

Many criteria impact the price of houses for sale in Allanton.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

Are you considering other cities with houses for sale?

We have prepared a list of cities in Scotland, the same UK region of Allanton that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.