Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Inverness, Scottish Highlands.
From the average asking price of houses for sale in Inverness, to the growth of the population in the area, all will be talked about regarding the city of Inverness. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, what do houses for sale sell for in Inverness?
For the city of Inverness, the average price a house sells for is £182,070. This value usually depends on the exact location of the house within Inverness as well as other factors like the population growth which is 2% over a ten-year period.
| 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 |
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 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 |
Generalising the bottom table, the average value per square foot of a house for sale is £1,559. This value averages all of the types of houses for sale in Inverness. 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 Inverness.
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Inverness.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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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.
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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
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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
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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.
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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
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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
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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.
In Inverness, what are the rental yields?
Is the housing market in Inverness growing?
Whenever you are thinking about looking for houses for sale in Inverness, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Inverness growth rate | 2% | 17% | no relevant data for this city |
As the population of Inverness grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
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 Inverness to Scottish Highlands and the broader suburb of the UK; Scotland.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Inverness | 3.8% | £738 | 101% | 35.4% |
| Scottish Highlands | 3.80% | £738 | 101.00% | 35.37% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
Let’s assume you want to sell the house you’re looking to buy in Inverness for profit in the future, in this case, looking at the data for the number of houses sold per month in Inverness would give you an idea of whether the area is actively getting new investors. This figure is 185.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Inverness. 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.
Asking price in Inverness for a house for sale
In the city of Inverness, what is the average asking price for the houses for sale?
| 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 |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£118) for houses for sale with this table to get a good idea as to whether Inverness is the right area to buy a house in for you.
When speaking about the city of Inverness, £222,306 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Inverness would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
House for sale in a different UK region
If you are looking for a list of cities that are different to the City of Inverness and in different UK region to Scotland. You might want to consider these as alternatives for your next real estate investment:
- Buxworth in Scotland
- Bar End in Scotland
- Llysfaen in Scotland
- Backford in Scotland
- Highbury in Scotland
Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.
Advice from experts on properties for sale in Inverness
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
What are the demographics like in the city of Inverness?
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’s a social grade score and how does it relate to Inverness?
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 Inverness 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.
What’s crime like in Inverness?
For the city of Inverness, crime rate is at 4. So for every 1000 people in the area, 4 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
In Inverness, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Inverness if 143,858 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Inverness such as rental yield or house appreciation.
How has the population size of Inverness adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Inverness by 1%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 1% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Inverness?
In the last decade, the population of Inverness has been adjusted by 2%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Are the people of Inverness deprived?
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 27% for Inverness should give you a nice idea of the deprivation in the area.
How much are those living in Inverness earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Inverness. Compare the area’s average household income of no relevant data for this city to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at no relevant data for this city for more conclusive data on the affluence of the area.
Located in Scottish Highlands is the city of Inverness, in a large part of the UK; Scotland. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Inverness has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Inverness which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
How educated are the people in Inverness?
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%.
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