Inverness 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 Scottish Highlands.
Before looking for a house for sale in the city of Inverness 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 Inverness.
In general, what do houses for sale sell for in Inverness?
As well as looking at the asking price for house for sale in Inverness, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Inverness.
Houses for sale, are sold on average in Inverness, after the influence of these factors, at £182,070 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 2% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£229,106|
|Aerage sold price (semi-detached)||£153,292|
|Aerage sold price (terraced)||£132,786|
|Aerage sold price (flat)||£127,958|
This table above shows the average sale price for each variation of houses for sale in Inverness.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,553|
|Aerage sold price/sqft (new build)||£1,588|
|Aerage sold price/sqft (old stock)||£1,711|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Inverness is £1,559.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
In Inverness, what are the demographics like?
For the city of Inverness, what is the education level?
In the city of Inverness, 25% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Inverness is no relevant data for this city.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
In the city of Inverness, 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 Scottish Highlands for example.
These demographics for Inverness 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 Inverness in Scotland.
What is the city of Inverness’s social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Inverness, the percentage of people in the two highest categories, A and B is no relevant data for this city. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is no relevant data for this city. This income will generally get bigger as the percentage of people in the A and B categories go up too (no relevant data for this city).
What’s the crime rate in Inverness?
The crime rate of Inverness must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 4, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (4) is both useful and is recommended to be compared to the average.
In Inverness, what are the deprivation levels like?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Inverness is 27%.
How much do people in Inverness earn?
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 Inverness this figure is no relevant data for this city.
What is the population of Inverness?
The city of Inverness has a total population of 143,858. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Inverness is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Inverness
Over time, in the last five years, the population of the city of Inverness has changed by 1%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 1% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Inverness?
In the last 10 years, there has been a shift in the population of 2%.
Comparing this to the 5 year figure of Inverness can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
In the city of Inverness, how much green space remains for residents?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Inverness currently has 30.7 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Inverness in this case.
What is the asking price on average of houses for sale in Inverness?
When investors make offers for houses for sale in Inverness, the average price asked by the homeowners works out to be £222,306.
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 Inverness 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.
The average asking price for the houses for sale in the city of Inverness
|Average asking price (1 bed)||£107,154|
|Average asking price (2 bed)||£151,554|
|Average asking price (3 bed)||£210,412|
|Average asking price (4 bed)||£330,905|
|Average asking price (5 bed)||£429,454|
After looking at this table about prices of houses for sale in Inverness, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £118 will help them to have a more wholistic understanding.
Why you should consider the average rental yield when searching for houses for sale in Inverness
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Inverness, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Scotland. As well as Scottish Highlands, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Assuming that in the future you want to re-sell the house you will eventually purchased in Inverness you might be interested in the number of sales per month (185) that happen in the local housing market. Comparing this figure for Inverness with the above table gives you a good understanding of the profitability of the area.
Are there new houses being built in Inverness to make it grow?
The growth of an area like Inverness 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|
|Inverness growth rate||2%||17%||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 Inverness if you want to find out the exact reasons for the housing change.
Advice from experts on properties for sale in Inverness
Finding the ideal house for sale for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Inverness.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Other cities you can consider looking for with houses for sale
Examine this short list of cities belonging to Scotland, the same region where Inverness is located.
- Borthwick in Scotland
- Barcaldine in Scotland
- Drumchapel in Scotland
- East-Calder in Scotland
- Strone in Scotland
If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial